How to Invest in Parking Garages?

One profitable area of commercial real estate investment that is growing rapidly is parking garages. Cities only have so much space and as businesses grow, the need for parking grows along with it. As more offices, apartments, hospitals, and other large buildings are built, parking challenges must be addressed. As part of my real estate training courses, I offer advice on how to structure a parking garage deal using methods that have been very successful for me.

Low Capital Costs

One of the benefits of owning a parking garage is the low capital required to run the operation. Automation allows the operation to run with fewer employees and also allows management to adjust parking rates up or down easily depending on need, special events, or inflation. However, it is important to choose a parking area in the right location in order to guarantee a good return on your investment. In my real estate training, I will teach you my proven methods for evaluating locations and choosing the right parking garage for your needs.

Growing Industry

The International Parking Institute estimates that the parking industry generates more than $20 billion annually in the United States from the more than 105 million parking spaces and 5 million parking meters. In many cases, however, parking garages are owned by the building where they are located and there are some zoning regulations that can reduce the profit margin if they are not taken into consideration. My real estate courses will teach you how to manage a parking facility in order to help you build wealth.

Based on Demand

One of the most important things to remember about parking garages is that success is not only based on location, but on demand. New office buildings, retail outlets, or hotels often create a unique supply and demand problem. New buildings are often built on land that was once used for parking, yet the new building creates an additional need for parking so that customers and clients are able to access the business. By using the proven methods I teach in my real estate training, you will be able to analyze parking garage opportunities to determine how they can best be tailored to suit your needs and the needs of surrounding businesses.

Parking garages are becoming increasingly popular among real estate investors and their low overhead costs make them attractive business investments. For more information about investing in parking garages, visit www.cmrei.com.