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338. The Opportunity For Car Wash Subscriptions With Whitney Elkins-Hutten

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With us today is Whitney Elkins-Hutten Whitney Elkins-Hutten is the Director of Investor Education at PassiveInvesting com and a partner in 700MM in real estate including over 5000 residential units MF MHP SFR and assisted living and more than 1400 self-storage units across 8 states and experience flipping over 3 0MM in residential real estate In this episode Whitney Elkins-Hutten discusses her car wash business model and how it revolves around helping investors create multiple streams of income She mentions that car washes are a good example because the margins are healthy and people generally take care of their cars anyway She adds that subscriptions are more expensive when the customer needs to use the service in a given month but the monthly cost is worth it compared to other expenses To learn more about Heather listeners can visit his website at PassiveInvesting com 00 01 – 03 23 Opening Segment Whitney shares her experience in real estate syndications and car washes She points out that car washes as an opportunity to help investors diversify their portfolios and build a vertically integrated management company 03 24 – 06 38 The Opportunity For Car Wash Subscriptions Mom-and-pop investors own most car washes and there is no sizeable institutional player in the space The company plans to consolidate management of chemical companies into regional and local levels which allows them to bulk purchase chemicals and work more straightforwardly with distributors While car washes are expensive when accessed ad hoc subscriptions provide a more affordable option for those who were their cars regularly Car wash is appropriate for accredited investors and the company is targeting southeastern states for its assets She plans to buy majority stakes in its properties and aims to have full control over them so it can preserve capital and cash flow The car wash industry is expected to experience growth in the coming years Multifamily real estate has the highest apex of the three asset classes 06 39 – 11 53 Closing Segment Whitney shares that cash flows for the car wash industry business are projected to be higher than both self-storage and multifamily She shares her research on the car wash industry including analysis of rental companies and acquisition strategies Heather shares where you can get in contact with her links below Quote s We re talking about a business and not just commercial real estate We re looking to move the rent in this case is a subscription to market pricing that hasn t been done with the majority of these car washes A lot of them don t actually have subscription models on them Whitney Elkins-Hutten You can connect with Whitney through her Website PassiveInvesting com LinkedIn Whitney Elkins-Hutten WANT TO LEARN MORE Connect with me through LinkedIn Or send me an email at sujata luxe-cap com Visit my website www luxe-cap com or my YouTube channel Thanks for tuning in If you liked my show LEAVE A 5-STAR REVIEW like and subscribe Click here to visit this podcast episode