Car parking space

Zippeh

I saw this today

Airport Way, Luton
http://www.rightmove.co.uk/property-for-sale/property-54880450.html

Has anyone else seen this? I guess the risks are thinggs like its a illiquid investment, no guarantees in the future for income.

dunstonh

And many of these have turned out to be scams. Especially those promising fixed rates of return and promises of money back and quickly.

Superscrooge

http://citywire.co.uk/money/fraud-authorities-warn-over-car-park-investment-scam/a853070

Pincher

This is the kind of thing you want.

http://www.rightmove.co.uk/commercial-property-to-let/property-44968488.html

Go back in a time machine, buy up lots, and count the money.
Somebody already did it years ago, so you will be paying a pretty packet today to buy it off him.

jimjames

dunstonh wrote: »

And many of these have turned out to be scams. Especially those promising fixed rates of return and promises of money back and quickly.

Based on that one being listed on Rightmove as a detached house I'd say it was in the scam territory. If they can't list it correctly and are abusing the Rightmove system to list items that are not meant to be on there then it would raise plenty of red flags to me. 8% net return is also warning sign, after 2 years you get 16% of your capital back, there is no guarantee you'd ever see the remaining 84%.

If it was really that easy to earn that amount net from a parking space rented to individuals then surely you'd run a company and take all that money yourself. You then have minimal overheads and all profits. The extra admin in dealing with multiple owners must be significant and mean the costs taken are substantially more than car park owned by 1 person.

Or you could sell spaces to individuals for a huge markup with worthless guarantees and do a runner when they find out the spaces are nowhere near the value they paid.

bigadaj

Probably scam but you have to do your own due diligence and ascertain genuine opportunities.

For example there are plenty of p2p opportunities out there paying an fair bit more than 8%, and generally performing well and repaying on time, some will of course default.

jimjames

bigadaj wrote: »

Probably scam but you have to do your own due diligence and ascertain genuine opportunities.

For example there are plenty of p2p opportunities out there paying an fair bit more than 8%, and generally performing well and repaying on time, some will of course default.

The difference is that they're not guaranteed are they?

jamesd

FYI I reported the Luton one to the agency's local trading standards before it was removed. Don't know if that or something else caused the removal, though.

jimjames

jamesd wrote: »

FYI I reported the Luton one to the agency's local trading standards before it was removed. Don't know if that or something else caused the removal, though.

I reported to Rightmove and they said they'd removed it too. Good that multiple reports went in

Dird

Pincher wrote: »

http://www.rightmove.co.uk/commercial-property-to-let/property-44968488.html

£500/month for a garage. Alternative nearby parking is £50/day. London is mental

Pincher

Dird wrote: »

£500/month for a garage. Alternative nearby parking is £50/day. London is mental

Turn up after 18:00, no Congestion Charge then.

The parking becomes free after 18:30.

You can pay for 10 minutes worth from 18:20, when there are free spots. The ultra cheap skates obviously have to wait till 18:30.