Our guest for this week’s show is Commercial Real Estate and Parking Lot Expert, John Roy.
In today’s discussion with John, we’re going to discuss the little known niche of parking lot investing. John is one of the foremost experts in the industry and spends time on both the investment side by personally owning parking lots as well as running a full service brokerage that solely specializes on parking lot sales.
My time spent with John was very enlightening, as I knew little to nothing about the parking business prior to our call together. If you’re like me, then you’re always open to learning about new investment methods that can provide you diversification and long-term cash flow and wealth creation. Well, you’re in luck because that’s exactly what you’re going to learn about in today's show.
In this show with John you’re going to learn:
- How John got his start in the parking lot business and how purchasing a few dilapidated homes near the Notre Dame football stadium has spawned into a full blown multi-million dollar business for him.
- What the air rights of a property are and why these can typically be much more valuable than keeping the parking lot as an ordinary income property.
- The step-by-step process of getting into parking lot investments.
- Why parking lots make for low maintenance investments in comparison to other commercial investments like apartments, office, retail, etc.
- The value-add components to look for when seeking out a parking lot investment.
- How to properly underwrite a parking lot investment when there are no financials available which is a quite common scenario when dealing with small-scale parking lot owners/operators.
- How automation is changing the parking lot industry and how these changes are having a positive impact on the industry as a whole.
- What type of financing is available on parking lots and how to obtain bank financing even when you’re buying a parking lot that doesn’t have accurate financial statements available.
- How to utilize out-of-the-box strategies to find opportunities, even in today’s competitive environment.
- And much more