When people think about fantastic investment opportunities, parking lots usually do not come to mind. However, if you want to generate consistently satisfying returns, it is a very smart way to go. Here are some of the top reasons why many people are becoming parking garage investors.
Superior Return On Investment
When compared to big-city residential real estate rental opportunities, parking spaces actually come out ahead. Parking returns average at least a 4.5% return, while real estate comes in less than that when factors such as upkeep are factored in.
Point Of Entry Is Low
If you are trying to invest in real estate, it can cost a lot of money to try and get into the game. However, investing in parking spaces or parking lots does not require as much of an investment. In fact, in some places, you can start investing with as little as a few thousand dollars.
Low Upkeep
When it comes to maintenance and upkeep, there is very little which needs to be done with a parking lot. Every few years you may have to repaint the lines or fill in a pothole, but other than that, parking garage investors pretty much lead a hands-off lifestyle with their rental property. You really can’t have a property that is more stress-free than a parking lot.
If you are interested in getting into the parking lot rental business, the professionals at Parking Advisors, Inc will tell you everything you need to know to get started. For more details, visit their website or contact them today.
