Investing in parking garages and parking lots

[Ramsey Vance]

I am looking to get into purchasing old existing parking garages or parking lots. I have been looking on remax, long and foster, and cl and suggestions or advise from someone with real experience in this area.

[Nathan Emmert]

Originally posted by Kevin Tunney:

I’ve never dabbled in this strategy but I have always thought about it. It is probably one of the best passive income strategies if you do it right. The numbers have to make sense before you purchase. If the garage is all automated and busy, you can have yourself a cash flow king!

Remember, people don't sell easy cash (i.e. a cash flow king!) cheaply.

Buying right means buying distressed. Buying distressed means there was a challenge the previous owner couldn't overcome (i.e. not easy).