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Investing : big city versus small town
Making a first investment in one or more parking spaces requires a precise study of prices and the geolocation of the spaces. CIPG’s investors discussed whether it would be better to invest in parking lots in big city or in small town. Here are some answers to help you.
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Simulator for calculating real estate profitability
The online version of the simulator will be available soon.
In the meantime, you can download the Excel version below.
📑 Sommaire
Yields, cash flow and profitability
Before we begin this series of exercises, we’re going to explain or refresh your memory about the language of rental profitability, also known as the rental yield of a project. There are 3 ways of measuring the performance of a property project : calculating the yield (gross, net or net net), cash flow calculating or profitability calculating. Some members are kind enough to share confidential information and experiences with you. We ask you to respect them. All discussions on this subject must remain within our club.
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Parkmatch : application of connected car parks !
You’ve probably already experienced it: parking in the city can become a real headache. Between going around the neighbourhood more than 15 times, traffic jams at peak times, expensive private car parks… but also FPS (post-parking packages) which have already reached many motorists !
📢 WARNING : you must not use the Parkmatch application anymore
Due to numerous reports of bad experiences, we recommend that you no longer use Parkmatch services ; click here to learn more.
Opportunity to become real estate annuitant
Becoming a real estate annuitant is the dream of many people. Today we present you with a set of garages that can allow you to drop your work ! The package presented to you offers the possibility of generating $ 5 000 in gross income per month. With a gross income of $ 60 000 per year, there is enough to stop working and live comfortably on your pensions.
The ratio between total gross income and net income is interesting because the expenses are low. Discover the profitability study of this lot of garages and became maybe a real estate annuitant.
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How to estimate the sale price or rent of a car park ?
Knowing how to estimate the sale price or the rent of your car park is very important, but for this reason a few parameters are important. Indeed, each car park has its own specificities, which complicates the estimation and makes the study difficult. This step is essential to have a good positioning on the market in order to find the right tenant or buyer.
It is necessary to define the specificities and the advantages of your location :
You must understand that the price depends on the market, more precisely on local supply and demand. This differs according to the particularities or characteristics of the site to be rented or sold.
Anna invests in a motorcycle parking lot in a big city
I have finally acquired my 12 spaces for two-wheeled vehicles. Ideally located in a big city district, in the basement of a building guarded and placed under telesurveillance.
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- Congratulations Anna, tell us about your acquisition
- What argument did you put forth for not paying
- How did you find out about our club
- How does the first rental go
- Do you have a strategy for boosting returns
- Is day-to-day rental management easy
- Thank you for your answers Anna, we’ll let you have the last word
Congratulations Anna, tell us about your acquisition
It all started while I was browsing through the classified ads. I saw a classified ad that had just been published about this lot of twelve parking spaces for two wheels. Interested, I contacted the owner to visit the property and the next day, I got an appointment to visit it. The visit went well. I liked the pitches, the neighborhood as well and I thought there was a possibility to do something good with this parking lot. So after some calculations and some time to think about it, I made a proposal to the owner. We managed to come to an agreement.
And on Monday, I signed the purchase of my parking spaces. However, I would like to share with you an interesting experience that took place at the notary’s office. I visited this parking lot in March and committed myself to purchase it ; by registered letter with acknowledgement of receipt from the owner at the beginning of April in accordance with the instructions of the notary. On Monday 15 June, I went to the notary’s office to sign the sale. At the time of the signature, the notary turned to my seller with whom I had had a very cordial relationship for months and said to him “let’s start with the things that annoy !”. My seller immediately says “yes, by the way ; I don’t want to pay for this bill because I won’t benefit from it”. I want the buyer to pay”. Needless to say, at the time I didn’t understand what was going on.
In fact, it is electrical work voted by the trustee of the building in which my sites are located. These works have been voted since the month of March, my owner was therefore. Of course, aware of all this and was careful not to let me know and waited until the last moment because he had no choice but to let me know that the owners would each have the modest sum of $ 2,500 to give for these works. On the day of the signing, he tried to do everything he could to make me pay this salty bill.