Has anyone had any experience with investing in car parks?
I know they don't see much capital growth but might be a good cash flow positive investment.
At least for now until interest rates rise up again…
I thought about investing in a car park but wasn't sure about GST on rent as it is probably commercial and the parking tax in CBD areas.
What made me think about it was the low price enabling me to pay it off quickly and then build up cash flow to buy another one and pay it off quickly but I haven't gone ahead with it yet.An expensive bit of realestate which could be seen as a high risk – that is, availability is subject to planning laws (is council restricting the number of parking spaces in new developments thus increasing competition/parking space levy increases/land tax).
As for the gst, unless you're registered it will make very little difference. Commercial tenants will be more concerned about getting an invoice.
Avoid at all cost
Too specific type of invesmentgod_of_money wrote:Too specific type of invesmentSo are residential units, industrial, commercial, retail, hotels, pubs, storage units – each one has its own market, risk profile, returns etc. It is up to the investor to determine their property mix.
hi all, what are the costs associates with this type of investment?
CAn you be more specific sweeper? What type of investment & what structure (if any)?
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