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The Gold Collar Investor

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  2. TGCI 38: How to make money through Parking Lots? Can you really?

TGCI 38: How to make money through Parking Lots? Can you really?

Jun 1, 2020

In today’s show, Pancham interviews Sam Wilson, Founder and CEO, Parking Your Investments.

The parking lot industry is an interesting alternative investment opportunity that can earn you stable returns. But there are many red flags to watch out for and a lot to learn before investing. 

Sam reveals how he finds parking lots with good investment potential, conducts due diligence, and then streamlines operations. We also discuss how the current COVID crisis has impacted this niche industry.

We hope you enjoy this show!

Timestamped Shownotes:

  • 02:19 – Sam shares his background information
  • 03:15 – Why did Sam transition from single-family investing to investing in parking lots?
  • 04:50 – How did Sam learn the ropes of the parking lot business?
  • 06:20 – How do you find a good parking lot to invest in?
  • 07:05 – Due diligence process for evaluating a parking lot
  • 07:45 – How to find and hire operators to manage your parking lot investment
  • 08:28 – How do you value a parking lot? What is a typical cap rate? What is a kind of returns can you expect to earn?
  • 10:22 – Typical agreement that a parking lot owner makes with the operator 
  • 13:30 – What are some ideal locations for parking lots to invest in?
  • 15:39 – Can parking lots be slotted into different categories?
  • 17:25 – Are banks willing to finance parking lots?
  • 19:00 – How has COVID-19 affected the parking lot industry?

 

  • 24:04 - Taking the Lead Round

 

  • 24:16 – When was the first time Sam invested outside the Wall Street?
  • 25:38 – What fears did Sam have to overcome when he first invested outside the Wall Street?
  • 26:55 – Can you expect one investment that did not go as expected?
  • 28:32 – What is one piece of advice you would give to people who are investing outside of the Wall Street?
  • 30:09 – Sam shares his contact information

3 Key Points:

  1. How to conduct due diligence when investing in a parking lot
  2. How to strike an agreement with the operator to manage your parking lot
  3. Typical returns that you can expect to earn from investing in parking lots 

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