Parking Garages (2/2)

As business grows, so does the need for adequate parking spaces, and as suburban office buildings, hospitals, medical offices, hotels and other industries move into an area, parking challenges come to the forefront. For this reason, many investors are looking into the world of parking garages as an income source. In my real estate courses, I teach you how to avoid some of the problems that can occur with parking garage investments.

Analyzing the Property

One of the things I teach in my real estate training is the importance of analyzing any property before investing, and parking garages are no exception. Location, traffic patterns and entrance/exit issues must be reviewed before making a decision to invest in a parking facility, and are as important as the potential return on your investment. It is also important to understand that parking dynamics can change fairly quickly, so analyzing future economic growth and development is also important to success with parking garages.

Types of Parking Lots

Another point I teach in my real estate training is that investment in parking does not necessarily mean that you must invest in a parking garage. Although well-located parking garages are the most attractive type of investment, they may not be available in all areas. Some municipalities have regulations about building heights which prohibit the use of multi-level parking garages. Surface parking lots are also a viable investment, and are often far less expensive than parking garages. In addition, surface lots offer a much lower overhead cost than garages as there is little maintenance required and automation can reduce the need for additional employees.

Profitable Enterprise

Using the proven methods I teach in my real estate courses, you can earn a relatively high return on your investment. I will show you how to structure your parking garage deal, give you tips on financing and even give you advice on how to manage the property from any location. As the economy improves and more jobs are created, the need for parking in both urban and suburban areas will continue to grow. By using my proven methods, you can invest in this type of property and start to build wealth fairly quickly. For more information on my real estate training, visit CMREI.