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Real Estate Runway - Chad Sutton - Insta
S1E116: Unlocking the Cash Flow Potential of the Booming Car Wash Industry with Dan Handford
Apr 25, 2023 31 min

Episode Description

Dan and his wife, Dennae, along with their 4 children (3 girls and a boy) and standard poodle, reside and work in Columbia, SC.  He is one of the managing partners with which is a national passive real estate investing firm based in the Carolinas. He has led his real estate syndication company to acquire a portfolio valued over $1.3B with just under 1,750 investors active in those assets.  Dan and his wife are also passive investors in over 75 different passive real estate syndications which comprises over 10,000 doors located in the Carolinas, Georgia, Tennessee, Texas, Florida, and Idaho with 17 different operators.  Prior to getting started investing in real estate, Dan had an extensive background in starting multiple seven-figure businesses from scratch including a large group of non-surgical orthopedic medical clinics located in South Carolina. Dan is also the founder of the Multifamily Investor Nation (#MFIN) where he provides free multifamily education to a nationwide group of over 40,000 members.


[00:01 - 06:44] How to Invest in the Booming Car Wash Industry

  • Dan Handford of shares his story and how he started his business

  • Car wash industry offers attractive investment opportunities with high cash flow

  • The Multi-Family Investor Nation Convention is recommended as an excellent event for potential investors to attend

[06:45 - 14:11] Private Equity Groups and the Rise of Car Wash Asset Acquisitions

  • Express car washes are a popular investment model with lower labor burden and consistent cash flows through memberships.

  • Private equity groups have been acquiring car wash assets, with Mr. Carwash being the largest carwash operator in the US.

  • The car wash space is mostly fractionalized, providing opportunities for operators to acquire and expand portfolios.

  • The company has launched its own car wash brand and has five funds with 22 locations and two under development.

[14:12 - 20:32] Focusing on Memberships and Brand Consistency

  • The speaker discusses their approach to renovating car wash assets.

  • They focus on improving equipment, adding value through extra services, and increasing membership sales.

  • Their goal is to reach 5,000 memberships per site and grow to 200-300 locations before a private equity rollup.

  • Car washes offer high cash flows and preferred returns of 10% compared to multi-family investments.

[20:33 - 30:58]  Increasing Cash Flows for Investors

  • Conservative underwriting numbers provide high cash flows to investors.

  • Focus on memberships and increasing cash flows on assets.

  • Potential for higher exits on the back end.

  • Real estate holdings offer depreciation benefits.

Connect with Dan:


Social Media: LinkedIn, Facebook


"I think communication is one of those things that is a key in many, many relationships." - Dan Handford

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