Investing In Storage Spaces And/or Parking Spaces

Comments(10)

• 
  dgtop3rd February, 2004

  Watch out for those jerks who park diagonally and take up two spaces.

• 
  KyleGatton4th February, 2004

  It will all depend on the types of Parking and storage that you are offering.
  Parking could mean seasonal for events, or monthly/ daily for workers. Management is cheap and theft high for both.
  Storage, the types vary, commercial, personal, car storage, etc etc. Your insurance and advertising will be your biggest expenses, and should be factored in for your NOI.
  For both since they are in the city youre taxes will be high so watch out for those.
  
  
  Good Luck,
  Kyle

• 
  sitthere4th February, 2004

  NOI= ?

• 
  MarleneM5th February, 2004

  NOI is Net Operating Income

• 
  Zach5th February, 2004

  Watch out for Cool Hand Luke cutting the heads off of your parking meters! Z

• 
  MarleneM5th February, 2004

  I'm actually looking into buying a warehouse that can be turned into storage space for BIG BOY TOYS - motor homes, boats, etc.
  
  If anyone has done this, please give us a list of things to consider - or PM me.
  
  Thanks!
  Marlene

• 
  InActive_Account5th February, 2004

  Self storage and parking is a very good business especially in densely populated urban areas. Also,there is a need for record storage for businesses in these areas.

• 
  MarleneM5th February, 2004

  Record storage. Hmmm. Interesting idea. I'll bet that's an even better clientele - more professional. What considerations might need to be taken into account for record storage? I can think of a few:
  * garage door s for separate spaces
  *truck bed level ramp to offload boxes - yes - no?
  * well-lit
  *termite/pest free - need to pay a pest service for sure
  *humidity controlled??? We're in southern California so it isn't very damp around here
  *insurance - would most likely be more expensive than insurance for plain funrniture storage, don't you think?
  *what about fire-proofing - sprinklers could really make a mess. How would one fire-proof such a space? Cinder block walls and cement floors - what else?
  *Would on-site shredders be considered an asset worth the investment?
  *are on-site security guards necessary for small sites?
  
  Can you think of any other considerations I've missed?
  
  Thank you,
  MarleneM

• 
  robbind5th February, 2004

  Thanks for all your wonderful ideas/thoughts. Thank you Marlene for all your considerations...I did learn from it. Now I know what to look out for guys.
  
  NOI=??
  What is an ideal NOI, supposed to be 25 parking spaces and 6 storage space?
  Hmmmm.. I would just be happy to make 1000.00$/month

• 
  robbind5th February, 2004

  I'm actually trying to buy these assets through a real estate auction. What are some of the things I need to watch out for?
  
  How can I find the market value of this? What's a good way, so I know that I am buying for a good price, if I do buy. Should I contact a real estate appraiser?