Real estate self-help group
parking lot, garage, box, cellar, warehouse, shed, store room…
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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.
The online version of the simulator will be available soon.
In the meantime, you can download the Excel version below.
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 !
Due to numerous reports of bad experiences, we recommend that you no longer use Parkmatch services ; click here to learn more.
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.
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.
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.
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.
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.
The name Warren Buffett certainly doesn’t ring a bell. Did you know that at more than 80 years old he is known and recognized as the biggest investor on our planet? We are going to present you his method to help you better invest on a daily basis.
In his personal professional life, everything works out for this businessman and investor of American origin who is nicknamed “the oracle of Omaha”. He has been one of the richest men in the world since the beginning of the 21st century. The most cited example is the purchase of his family home. Purchased $ 31,500 in 1958, it is estimated today at more than $ 265,000. The advantage of real estate is that the value of a property will change over time according to several parameters, it is a bit the same with parking lots and garages some will increase in value and others will not. His company Berkshire Hathaway after 50 years is now worth billions of dollars. Mr. Buffett is involved in the finances of very large, world-renowned companies (Coca-Cola, IBM, American Express, Apple, etc.).
Discover the presentation of Andrew, a new member of our community, an experienced investor in residential real estate and housing by investing in several investment properties. He explains to us why he is now turning to parking and garage real estate.
Before introducing myself, thank you to Christopher for taking the trouble to call me as a new member that I am. We can see that we are not here on a “cash machine” commercial platform (I know one on the subject of garages precisely…). But rather on a collaborative site with members and not customers to exploit.
I worked as a professional (psychologist) until mid-2016, but I also did many other things; university lecturer, beekeeper, book author, manager of a tourism residence… More than half of my working time has always been self-employed. Whether it was the pension scheme for employees or the self-employed I did not expect to be able to keep my income. And now that I’m retired… I can confirm it ! And it could be worse for those younger than me.