Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Real Estate Deal Analysis & Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 12 years ago,

User Stats

140
Posts
82
Votes
Scott Sewell
Pro Member
  • Investor
  • Anchorage AK and Hampton, VA
82
Votes |
140
Posts

Making an offer (to lease/buy parking) they can't refuse

Scott Sewell
Pro Member
  • Investor
  • Anchorage AK and Hampton, VA
Posted

Hello all,
Looking for some advise on approaching someone to lease/buy additional parking space for a potential acquisition. We're looking at an 8 unit multi family that seems to pencil well, in a good area and with good potential for repositioning. The main reason we haven't made a move is the parking. It has 9 spaces and NO on street parking (just no room for it) Code would require at least 12-13, but the bigger concern is as we upgrade clientelle, they are much more likely to have 2 cars and this section of the road is already over crowded which doesn't help the curb appeal of the property.
A possible solution is a vacant lot directly behind the subject property owned by a local business. I've had a friend approach them about leasing this (I'm out of town currently) and they didn't say yes, but they didn't say no either. I plan to approach them when I get back.
So my questions are these:
What would be your strategy to get them to say yes at a reasonable cost?
Would you pass on this cost in the form of parking fees to tenants? (thats kind of unusual here)
Or would you just roll that cost into expenses and look at the numbers again?

  • Scott Sewell
  • Loading replies...