If you are worried about the states of the economy right now and the hurting commercial real estate market do now worry, there still are plenty of investment safe havens out there. You just have to get out of your comfort zone and go and find them.
As weird as it sounds, parking lots may be worth a look here in the next 12 months or so. In fact they are becoming so popular for investors right now you might have trouble trying to snatch one up.
So just why are people going crazy over these parking lots, and similar real estate right now? Simple. A surface parking lot offers you a very good rate on return and right now they offer a very good recession proof opportunity.
Even those old run down parking lots offer a better opportunity because you can get them for a cheaper price and they only require a little bit of tender loving care.
Even though the economy is sour right now, investors are turning to these sorts of opportunities because a well located urban parking facility offers stable long term growth and is good no to put all your eggs in one basket. Many investors own a few of them because they are quite a stable investment and it is always important to diversify your portfolio.
If you think you are wasting your time with this. Think again. The numbers are staggering. Currently in the US, the parking industry grosses over $25 billion dollars annually. Recent reports from the International Parking Authorities is that there is a quarter billion registered US vehicles which are parked or stationary 96 percent of the time.
Because the real estate market is suffering some of the gurus are telling investors that this is one of best times to get into the parking market. It is not weird at all, and quite a good long term investment if you can get a good deal. There are plenty out there at the moment, and it is increasingly becoming more popular.
A good starting point would be to do a search in Google for “Parking lot for sale”
If you have trouble finding one on your own, you can always go through a commercial broker (who will charge you a fee) to help you find a good deal close to where you live.
Parking lot investments are becoming so popular, that there are commercial brokers who specialize in these types of opportunities.
These are a low risk type investment and parking lots are very easy to run, relative to a lot of other commercial real estate deals you could get involved with.
Make sure you do your research but with the economy in the toilet there are lots of these unknown lucrative opportunities.