While it is easy to be put off from investing in real estate such as houses simply because of the high upfront costs, it is much easier to invest in parking lots. While this may not be the first thing that comes to mind, many investors see this as a very smart decision. Here are a few reasons why parking investment may be something you want to add to your portfolio.
Easy to Start
With parking lots, there is a very little upfront cost to purchase them. Unlike houses or buildings which can cost upwards of hundreds of thousands or even millions of dollars, parking lots can generally be bought for tens of thousands of dollars. This is a much more enticing amount to the beginning investor.
Easier to Get Customers
While getting people to rent your home can be mildly easy, getting people to rent a parking space takes no effort at all. Whether or not a person lives in the city the spaces are at, they still need to park. The spaces can also be rented out by the hour, the day, week, or even month. And the ability to get rid of deadbeat parking lot customers is much easier than getting rid of housing tenants. All you need to do is have their car towed and that’s that, they are gone.
If you want to look into parking investment in parking spaces, contact Parking Advisors, Inc. They will advise you on the best opportunities in the area of the country that you live in. For more information, visit their website today.
