Parking Lot investments

[Parker Eberhard]

Does anyone on BP invest in parking lots? It seems to be a pretty easy, low risk way to make good money

[David Barnett]

Very interesting thread, and would be interested to hear if there are any parking lot investors on BP.  I've also been thinking that parking lots might be an interesting niche.  Covered parking lots or ramps I could see being a very profitable niche, and only really needing to have a few employees at the gate to collect payment.

[Gaspare U.]

I would assume the land needed to purchase is what keeps most people out of that game. But if you inherited a crap property in a high density area, a tear down and parking lot would be great.

[Judy Parker]

I am looking at purchasing a small lot with 16 spaces. Now its time to lear about the business, installing automatic gate and electronic payment system.

[Hadley Fisher]

It’s made some families in NYC very wealthy with their garages and lots !!

It’s a great business with high profit margins

If done right and how much you pay for the land is key !!

These are somethings to ask yourself !

I don’t know the property but what’s around it ?

I don’t know if you can add Space-savers to potentially Double the number of spaces ?

I would see what the zoning is ?

Can you build on the lot later ?

Is the lot Adjacent to a major highways ?

Can you put a Billboard on it ?

Do you want to have it so people can park electric cars?

How much dose that costs to be able to park those type of cars?

Do you charge more for SUV ?

Special events ( example if your lot is right next to stadium ) Pre COVID-19 !!

Monthly parking ?

Transient parking ?

Self park

Google map is sometimes not up to date so jump in your car and drive around .

Schools

Hospital

Etc

What other garages or lots in the area are changing?

Are you going to run it your self or hire someone to managed for you ?

Hope it’s helpful and good luck !

Sorry for typos writing is not my forte !

[Chris Blackburn]

Technology Convergence

I think the parking lot days are limited-  With autonomous vehicles- things are going to change in the next 10 years.  This book as a bit of a guide.  We are designing apartments around the fact that parking lots will become gardens, green space, available building space, solar or ?

Rethinking Transportation 2020-2030: The Disruption of Transportation and the Collapse of the Internal-Combustion Vehicle and Oil Industries (RethinkX Sector Disruption) (Volume 1) 1st Edition