Former Private Equity Investor Says Parking Lots Can Produce $100K In Monthly Cash Flow: 'Next Time You Park, Remember You're Making Someone Rich'

Some precocious currency travel concern ideas are hiding successful plain sight, including parking tons that nutrient much than $100,000 per month. A erstwhile Wall Street private-equity capitalist who goes by "Kenny Finance" connected YouTube shared however this concern exemplary works and what to cognize if you are getting started.

"Next clip you park, retrieve you're making idiosyncratic rich," helium said.

Kenny said successful the video that astir of a parking lot's gross comes from renting parking spaces, and determination are 2 gross sources from this opportunity. The archetypal gross root is renting spaces regular oregon hourly. Kenny said that it's typically $10 per hr oregon $40 for the time if you privation to parkland successful a lot.

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However, immoderate radical bash not person a parking abstraction astatine location and unrecorded successful an apartment, truthful they privation imperishable residential spots alternatively of a one-day spot. It's a akin setup to a tenant renting a portion and provides predictable, semipermanent currency flow.

"You get to rent similar currency travel by having semipermanent leases with parking garages," Kenny said. "The terms for a spot goes for similar $500 per month."

Monthly contracts connection much stability, portion the gross from hourly and regular spots is volatile passim the week. Kenny said that parking spots execute the champion if they are located adjacent downtown, stadiums, hospitals, and airports.

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Kenny outlined 2 further gross streams that boost parking store profits, which impact partnerships with companies alternatively of drivers who request a spot to parkland their cars. He said that immoderate parking tons spouse with ChargePoint to connection EV charging. Parking batch owners marque upfront wealth from ChargePoint, and past the EV charging institution makes wealth erstwhile radical complaint their electrical vehicles.

"They don’t gain immoderate wealth from the existent charging from the ChargePoint station.," Kenny said. "Instead, this parking store charges ChargePoint a interest each azygous period to person their instrumentality installed successful this garage. The close to run successful this gathering costs them money.”

Parking store owners tin besides usage this exemplary with star and telecom companies. These companies are consenting to participate semipermanent leases to instal telecom towers oregon star panels astatine the apical of a parking garage. You tin extremity up with a 20-year declaration for this benignant of deal, resulting successful highly predictable currency travel implicit a agelong stretch.