The GBG Porsche 911 Challenge Is Back

It’s great to see you all again, Gas Nation!

Episode 8 of the GBG Porsche 911 Challenge is here:

This week I have major updates for you on the 5 stores that are part of the GBG Posche 911 Challenge. If you’re new - the Challenge is where I bought 5 old gas stations and I’m flipping them and turning them around and I’ll use a part of the profits from doing this to buy myself a new Porsche 911, a car that I’ve dreamt of for many years.

I actually found my dream car so I know the exact one I’m going to get and next week I’ll show and tell you all about that.

Now on to the updates:

First up is The Abyss. That’s the store that had that huge sinkhole in the parking lot and that my friend who worked for me years ago has leased from me. We’re putting in new floors and counters and will have a kitchen and lots of other great ammenities. As you may remember from a few weeks ago we got Chervron to provide us with the fuel and to put in some money for branding.

The next one is The Rent Is Too Darn High. This one is under contract and set to close this coming week and that should be our first check in the GBG Challenge.

Allstate burned to the ground, of course before we bought it, but we already have a buyer for it. Things are progressing a bit slower than expected, but we are under contract and I do expect us to close.

Our buyer on Amityville (yes, this one’s under contract as well) has hit a small speed bump because the buyer’s banker didn’t have any convenience store experience. I came in and referred him to my banker and things are now back on track and poised to close shortly. If things continue going smoothly we should close this one by the end of June.

And last but not least, we have Magic Market. This is the one we priced too high and the current tenant said he didn’t want to buy it at that price. We’ve adjusted the price since then and we have a lot of interest in the store, but the current tenant isn’t having any of it, even at the lower price. What might happen with this one is I might convert it to a coin operated laundry. You guys all know that I like new things and learning new things and I’ve never converted a c-store to a laundy before. What’s also interesting is that if I converted this store to a laundry The Abyss, which is just 100 yards up the road, would do much better and the laundry would benefit from all of that traffic so I’m working through all of this and will let you know what I decide.

Now on to some housekeeping:

• if you have any friends interested in the gas station business please feel free to forward this newsletter to them

• make sure to join me on X and Instagram and TikTok if you haven’t already and to subscribe to my YouTube channel.

Have a great Easter everyone.

Till next week,

GBG

Take a look at this week’s video if you haven’t already: