19. Car Washes – car washes are a popular passive investment for people like doctors and other professionals.
The reality is that they are not as passive as they seem with the equipment often breaking down or needing upgrading.
Investors do like the fact that they are often located on decent retail corners or mid-block sites that could be re-developed in the future. The car wash sometimes ends up being a “land banking” play where the most money is made on the backend when the real estate is sold to a developer.