All stories are real, as told by real business owners, with individual experiences that may vary. Customers do not receive monetary compensation for telling their stories.

Philly Express Wash

Philadelphia Businessman Finds Formula to Seize Opportunity in Commercial Real Estate

If you ask Deepak Verma what his keys to success are, you'll likely hear one piece of wisdom over and over: "I do whatever is needed to help the business." Deepak will tell you that there's no special sauce or secret recipe to being a great business owner - you just have to invest yourself in it with all you've got. "If we need a cashier, that's me; if we need someone to scrub the cars, I'm there".

It's that roll-up-the-sleeves mentality which has guided Deepak through his impressive career as an entrepreneur in Philadelphia. Recently he took over Philly Express Wash, a car wash in a highly trafficked area near I-95. But while hard work is the secret to success he stands by, when it comes to building his property portfolio Deepak has come across a different kind of formula.

The formula has everything to do with the real estate his businesses use.

He finds a business opportunity that meets all of his criteria for profitability and type of operations or industry. Then it's location, location, location. He identifies the property or existing business that has the best chance of success, and he goes in to make the offer knowing that he has a commercial real estate loan ready to back him up once he submits the winning bid.

It's how he was able to acquire Philly Express Wash and its prime Interstate-entrance real estate. In just a matter of days from when he decided to make the move, he became the owner of the location.

As Deepak said, "The speed was exceptional. I was able to get a loan in 24 hours, and I took ownership of the business the very next day."

With affordable commercial real estate loans at lightning fast speed like that, Deepak is able to secure the next opportunity for himself without having to commit all of his finances to just one project. It means he's able to invest in the businesses that he owns and amplify what they help him to achieve in a short period of time.

In the case of Philly Express Wash, he's already started to invest in his new property and the business that lives on it. Since he was able to move quickly and get a loan to cover the full cost of acquisition, he's using his available cash to add extra revenue to the business - not pay for up-front costs and overhead. His plan is to add new equipment immediately so he can offer lots of new services to clients.

Deepak's one final piece of wisdom to business owners who want to follow his example? Work with a funding company you can trust. "My case manager, Shawn, was very helpful - he was ready to work for me all weekend to get the deal done, and he came through to help make this a reality."

Are you a small business owner looking to expand your business through a real estate expansion? Check out this helpful guide from Biz2Credit that explains how you can get a small business loan specifically for real estate.

As Deepak said, "The speed was exceptional. I was able to get a loan in 24 hours, and I took ownership of the business the very next day."