Club of Investor in Parking lots and Garages
The community of private individuals specialising in parking lots, garages and storage facilities


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Articles classified by category

Discover all the articles in the investors' blog classified by category.

Category Archive Buying, investing

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 :

Investing in big city : you need to know the market

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16 garages for sale, analysis of this lot

Presentation of the property :

garage battery for sale

We have identified a lot of 16 garages for sale. To invest in a lot of garages, you must ask the seller for a copy of the current rental contracts to check the amount of rent received but also the exact number of garages rented. Considering the exceptional geographical situation of this property, near a large city. We know that a rent around $ 93 per month and per garage is not crazy. There are few garages for rent at the moment, but you shouldn’t overestimate the rents. The income indicated by the seller of $ 1500 per month is realistic. The property tax for a 7 276 sq ft plot of land is in line with the averages observed in this sector.

The photos reveal a fibrocement roof that may contain asbestos. This is a negative point that could lead to major work for the buyer in the coming years.

Have you noticed how the seller places foot calls in his ad ? Building land in the city centre, possibility to build a house or loft…. We will study the profitability and tell you what the seller really has in mind. The elements of some ads show the intentions of the sellers. Learning to discover what is hidden between the lines saves valuable time for experienced investors. Why should an investor who wishes to buy a lot of garages not position himself on this property ?

Profitability analysis, value of the lot of garages for sale:

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An opportunity to become a 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.

How much money does it take to become an 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.

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Anne 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.

Congratulations Anne, 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.

What argument did you put forth for not paying

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The crazy project of some members of the club

Birth of an idea, explanation of the envisaged business model

When an investor succeeds in several projects, he becomes greedy and sees things in a big way. Christopher is certainly the most specialized member in the diversification of investment strategies. The expression “not putting all your eggs in one basket” takes on its full meaning. For the past few years he has been maturing a project to diversify his assets and thus own a warehouse. The recent boom in co-warehousing companies makes you want to ride this wave ! At the beginning, we were 3 people in this project: Christopher, Tayler and myself Tony.

Unfortunately, life sometimes decides for you and you have to rethink your priorities. For my part, my wife and I have built a house to better raise our children in the country. I was out of the running, unable to add a credit on a risky project. Buying a deposit is a very daring project. You start from a virgin surface and you have to fill every square meter to get a good return. The selling price of this type of product is also a brake, very popular in the city to build large apartments or lofts. Real estate sellers know this and prefer to find a loft clientele rather than an investor who wants to park vehicles or do storage.

We can say that Tayler is too restrictive in his mind to embark on such a project which requires you to go outside your comfort zone (small reference to training how to expand your assets). He is going to tell you about some of the visits in the company of Christopher. Then you will discover Philip, a company boss who has known Christopher for several years and who has finally embarked with him on this purchase which will be his first investment in car parks !

Draft project and first visits with Christopher

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Standard dimensions of car park or garage

In this article, we will see the sizes of the parking spaces (for car, motorcycle, scooter, motorhome and caravan) and give you two great ideas to boost your profitability. Parking share with many tenants and car space transformation !

Standard dimensions of car parking spaces

Parallel parking space :

Width = πŸ‡ͺπŸ‡Ί European / πŸ‡¬πŸ‡§ U.K. : 2,44 meters ; πŸ‡ΊπŸ‡Έ U.S. Compact : 8 ft ; πŸ‡ΊπŸ‡Έ U.S. Standard : 8’6″ ; πŸ‡ΊπŸ‡Έ U.S. Standard Large : 9 ft
Length = πŸ‡ͺπŸ‡Ί European / πŸ‡¬πŸ‡§ U.K. : 4,88 meters ; πŸ‡ΊπŸ‡Έ U.S. Compact : 16 ft ; πŸ‡ΊπŸ‡Έ U.S. Standard : 18 ft ; πŸ‡ΊπŸ‡Έ U.S. Standard Large : 20 ft
Minimum height = πŸ‡ͺπŸ‡Ί European : 2,13 meters ; πŸ‡ΊπŸ‡Έ U.S. Compact : 7 ft.

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