Gas Stations anyone??? - Posted by Sheik

Posted by ali on February 23, 2000 at 23:07:30:

if the seller has phase 1 done recently then, and its clean then you dont have to worry.
that wht we do when we do commercial loan,make sure you spend money on phase 1
need help in busniess financing
plz call 972-466-2551

Gas Stations anyone??? - Posted by Sheik

Posted by Sheik on February 23, 2000 at 15:26:16:

Has anyboby ever consider or have have been involved in
Gas Stations??? Are they feasible investments? Where can I learn more?

Would love to get some feedback.

Ben is right I would also like to add… - Posted by David

Posted by David on February 23, 2000 at 17:48:55:

That even if you sell to somebody else, the way the environmental laws are written, ALL OWNERS, not just the current owner are responsible for the cleanup. Soil contaminated with oil, deisel, gasoline, etc, must be removed from the site and hauled to a toxic waste dump. Cost of cleanup figure $250,000 to a Million. Be very careful out there. Good Luck.

High likelihood of environmental problems - Posted by Ben (NJ)

Posted by Ben (NJ) on February 23, 2000 at 16:02:45:

As a buyer of tax liens in NJ I avoid gas stations like the plague because of the potential for leaky underground tanks. The contamination clean-up costs can far outweigh the value of the property and even if you abandon it, the state will clean it up and slap you with a lien. Be careful!