Anyone invested in car spaces? Thoughts?[?][?][?] LR
20K purchase 180/mth return. No tenants, no agents fees, no maintenance – that’s a 10.8% return – not bad?????
Has anyone ever heard about this before – its in a capital city CBD area.Castle Dreamer,
I think you want to check out the Bus Stop Shelters (BSS) that Bill has for sale. It is a much better deal!
When investing in car park spaces, make sure they are sheltered. (open air ones are not as good and if it hails and the cars get damages you could be sued! and even if it is sheletered you have to pay HUGE insurance premiums because people will come at you if something happens to their car. Quite honestly I think this is a bigger problem than the medical indemnity insurance crisis. Note my words there won’t be many carpark available soon because the premiums will be too high… or you will have to pay through the nose to park your car there. More and more people will start using public transport because it will cost them too much to park their car in the city.)
Also the “degreasing” charges are quite expensive. You will also have to pay for new lines every 2 or 3 years. (depends on the car park “covenant”)
As always avoid *rural* car parks because they are more risky.
Again, do your due diligence, but if I were you I would look into these BSS that Bill is advertising since more and more people will be using public transport (i.e Buses) soon. Carparks will be a thing of the past…
Cheers,
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This is a serious question…!!
Bill’s BSS may be complete BS, but there really are Car spaces available for sale in a CBD area, with returns of 10.8%. For someone with little available lending capacity, this could be an entry level income stream. I am serious in my question guys …. this is not BS[
][]Again I would check the premiums if I were you.
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P.S: Use the search button. This was discussed about a month ago!!!!
Hi Castle Dreamer, ive always been interested in the car parks but never have gotten round to them, serious question though, were would i go abouts to get contact information about getting hold of carparks that are for sale?
Thanks heaps
I understand that there is now a law in place (in Sydney at least) which prevents carspaces being seperated from units. This means that no new (unattached to units) carspaces will come onto the market.
I guess that this is a very bullish factor.
Again, the main thing to look for is LOCATION, LOCATION, LOCATION.Because of that I doubt that a carspace which produces more than 5% is a suitable investment.
Pisces133
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