EP. 1211 IS IT WORTH PAYING A MORTGAGE FOR A GARAGE 💸

Unlock the mystery behind the real value of garage parking when it comes to property investment—does it truly warrant the extra outlay, or might it even turn into a profit-spinning feature? Billy Bob and I share our contrasting experiences and insights on this topic, with me revealing that garages haven't always been pivotal in my real estate ventures. As we navigate through the evolving landscape of car ownership, with ridesharing and autonomous vehicles shaking up the scene, we contemplate the future demand for personal parking spaces. The convenience and versatility of owning a garage are also on the agenda, discussing how some savvy owners are transforming this often overlooked asset into a source of income through storage solutions or by cleverly renting them out.

Steer into the next part of the conversation where we break down the specifics of renting out garages and parking spots as standalone investments—an often overlooked cash flow opportunity in the real estate market. I'll walk you through the potential rental rates, which can swing from $50 to $100 a week, and why certain areas, such as those near major transport services, can become hotspots for high demand. We also dissect the strategic decision of opting for apartments without parking facilities, a move that can potentially lead to higher rental yields. Throughout the episode, Billy Bob and I aim to equip property owners and investors with the knowledge to fully leverage their real estate assets and possibly boost their bottom line.