Ikke, 2 years ago I did a lot of research into garage boxes and parking lots.
My conclusions were that the average ROI was somewhere between 5 and 9 percent.
This included local property tax (WOZ), some maintenance and insurance. Insurance will not be high because of the low price.
Best ROI found was on a single parking lot in a parking garage in Alphen aan de Rijn.
Parking lots don't require insurance.
My calculations excluded vacancy because of lack of experience. No track record.
So vacancy is a bit of a wildcard, because with parking facilities, it's quite easy to do marketing yourself (ad in the local newspaper or put up some ads in the supermarket or local targeting on the internet). But no idea if they will bite.
So ROI is iffy.
My main problem with parking facilities is that it's not very scalable, unless you start out big. Bank won't lend for these types of small sums, so you can't use leverage.
Eventually I shifted my attention to Germany to rent out German houses. I am in the process of writing a how-to book about that and will put up a website explaining it all.
My conclusions were that the average ROI was somewhere between 5 and 9 percent.
This included local property tax (WOZ), some maintenance and insurance. Insurance will not be high because of the low price.
Best ROI found was on a single parking lot in a parking garage in Alphen aan de Rijn.
Parking lots don't require insurance.
My calculations excluded vacancy because of lack of experience. No track record.
So vacancy is a bit of a wildcard, because with parking facilities, it's quite easy to do marketing yourself (ad in the local newspaper or put up some ads in the supermarket or local targeting on the internet). But no idea if they will bite.
So ROI is iffy.
My main problem with parking facilities is that it's not very scalable, unless you start out big. Bank won't lend for these types of small sums, so you can't use leverage.
Eventually I shifted my attention to Germany to rent out German houses. I am in the process of writing a how-to book about that and will put up a website explaining it all.
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