 |
|
|
04-02-2011, 05:38 AM
|
|
|
|
Location: Troy, Il
764 posts, read 592,264 times
Reputation: 408
|
|
|
If i were looking into this, i would look into buying just the parking lot (no garage). One attendant out collecting $5 for each car. Give them a number to hang on their rearvew mirror. Take it back when they exit. For events, people come in and out constantly with 100 spaces almost always full. The guy probably does at least 2K a day. Of course, he cant do that every day, but once a week would still be 100K a year. Expenses would be insurance (not too bad) and property tax (pretty high, but surely not that bad). Plus its a cash business with no inventory.........what uncle sam dont know wont hurt him.
|
|
04-04-2011, 05:36 PM
|
|
|
|
Location: Orlando
7,371 posts, read 5,034,082 times
Reputation: 3281
|
|
|
Of all the investments I've seen it seems like the one that has beaten all the others is in an offshoot of the oil industry.
their returns have fallen from 15 - 100% and they have up to 85% tax credits... I don't know of anything that can do this day in day out.
|
|
06-19-2012, 05:51 PM
|
|
|
|
Location: AK, CA, FL, WA, AUS
4,213 posts, read 1,825,352 times
Reputation: 2256
|
|
|
From what I know most parking garages in major cities have around a 6% cap rate, similar to multi-family housing properties. Unless you can pay cash, there is virtually no room to make money, but you could break-even and hope that the land value appreciates.
|
Please register to post and access all features of our very popular forum. It is free and quick. Over $53,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
|
|
|
