Parking Lots?

[Jimmy Moncrief]

Has anybody here actually investing in a parking lot?

Would LOVE to hear your thoughts. I've been looking, but they have to be AMAZING investments because I literally can't find any.

With multifamily properties at least we can debate if they are overvalued or undervalued - but I literally can't find any sellers.

Thoughts?

[Kevin Costello]

I am a partner in a parking company that owns and manages lots. Generally we use the business to make money off our commercial properties or to manage a lot while we wait to get approvals and develop. To keep my guys busy we also manage other people's lots. Banks and other commercial property owners let us rent their spaces at night and on weekends and we pay them rent or provide them with a day time attendant.