The story usually hits a snag when the "boring" parts of ownership kick in.
: Beyond property taxes, you have to account for lighting, snow removal, security cameras, and the constant battle against non-payers. buying a parking lot
The real "hero's journey" in parking lot ownership isn't the daily quarters; it's the .Many savvy investors buy parking lots as a "land bank." They operate the lot to cover the taxes and make a little profit while waiting for the neighborhood to catch up. The end goal? Selling that "valueless" hunk of asphalt to a developer for millions. In Chicago, a developer once paid $9 million for a simple lot because they saw it as a prime spot for a future condominium. The story usually hits a snag when the