There is an opportunity to invest in a parking garage (300 spaces) in my area and I am curious to know the pros and cons of investing in this type of property. I am interested because it is a foreclosure and seems like a good strategy for passive income. I currently invest in numerous apartment buildings and have a few garages at the apartments. These have been the best investments and less management so this parking garage foreclosure seems interesting. Any feedback on your experience is appreciated.
I don’t know much about stand alone parking garages. If the return is good, and it’s in a good location, then it might not be a bad deal.
Consider the location whether it is situated near a populated area then is a good investment.
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