Investing in Parking Lots

[Mike Parelli]

I've represented numerous rental properties in Port Chester, NY that lack reliable and available parking. I have seen the area grow in popularity and development and believe it will only continue. I think if you could purchase a distressed piece of land and automate the parking you could do very well. 

Does anyone have any tangible experience in investing and managing parking lots? Would love to hear the community's thoughts.

[Jeff B.]

Just so you understand,  you would be investing in a business, not RE per se.  Totally different rules including business license, taxation and liability.

Frankly - - I see this as an opportunity anywhere.