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Originally Posted by wdsguy
Parking lots- same problem with the land costs but just think about the lots near downtown areas in LA and SD. they make bank. Low maintenance and only 1 or 2 employees.
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No shit. You hit the nail right on the head with that one. The new parking lots in San Diego by Petco Park in the Gaslamp Quarter, are $15-$20 a pop.
Worst part about the whole thing:
THEY ARE ALWAYS FULL.
So the parking lots are most likely the best business down there, even if they are the 6-8 story parking lots. Think about it, even if it was only making enough money to cover a monthly land payment of $200,000, it pays for it self in the end, and the land under it has appreciated in value over that time.
Man I wish I had 10-15 mil to do something like that. Good call.