What No One Tells You About Investing in Parking Lots, Garages and Structures w/ Kevin Bupp

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Kevin Bupp is a Florida-based real estate investor and best-selling author with over $250 million of real estate transactions. He has loads of experience with apartment buildings, single-family portfolios, medical office space, self-storage, assisted living, and his three favorites and by far the most profitable, Mobile Home Parks, Parking Lots, and Build-To-Rent Communities.

Kevin educates investors on how to locate, acquire, and create “higher than average” returns through commercial real estate investing. He shares his expertise through one of the longest-running Commercial Real Estate Investing Podcasts.

In this episode, I'm talking with Kevin about a very profitable real estate niche that doesn't get discussed very often: parking lots and parking structures. Finding, evaluating, and making money from these properties is a lot to know. I think you'll find it just as fascinating as I did!

0:00 - Intro
1:17 - Who is Kevin Bupp, and how did you get into real estate?
7:57 - How did you get through the 2008 recession, and how do you prepare for the upcoming recession?
19:00 - Kevin goes into detail and explains the Parking Lot Business
24:50 - How do you find Parking Lot deals?
28:57 - Why is parking management important?
32:20 - How do you pay the Parking Management company for their services?
35:41 - What are the characteristics of a good Parking Management company?
37:38 - How do you know if you're buying the parking lot for the right price, and what factors do you look at?
40:44 – Building a New Parking Lot vs. Buying an Existing Parking Lot
46:37 - How much does it cost to build a new parking ramp versus buying an existing one?
48:25 - How could a deal in the Parking Business go sideways?
54:01 - How the Parking Industry is responding and adapting due to the COVID-19 pandemic
57:33 - What are the different types of Capital Expenditures (CapEx) in the Parking Industry?
1:01:06 - What are the responsibilities of a property management company?
1:02:00 - Does the management company install a property kiosk?
1:06:08 - If somebody wanted to manage their parking lot alone, what other jobs are required to be managed?
1:09:12 - How much can you earn from a Parking Lot Business?
1:11:09 - “Flip and Sell” vs “Buy and Hold” in the Parking Lot Industry
1:14:24 - How can you improve your parking lot and increase your revenue?
1:16:54 - “Do What You Love and the Money Will Follow” – Does it work like that?
1:20:12 - How to reach out to Kevin, check out his podcast and get his new book for free?