Would you consider parking lots?

Question

I want to invest! alot i wanna learn how do u think parking lots would b a good investment? If someone is always paying for a space everyday day in and day out you would make money right?? please give me your advices on what to invest in. Something small a starting off type of thing. I dont want to risk so much in the beginning so please help?

Answer 1

expensive to build
low maintainence
daily income- cameras necessary with alot of cash around
low monthly payroll expense
lights on 24-7 and many of them
very strict building codes and frequent inspections
high taxes on property since most are in large cities where land is very limited
long term investment but monthly income is good

i own 2
average monthly profit is $2200 each with intial buy/building cost factored over 15 years.