Confusion over converting attached garage?
2 years ago | 5 comments
Investing in a garage – ideas and tips?
12:05 AM, 25th July 2024, 2 years ago
6
Hi everyone, My siblings and I have made a decision to invest in a garage and are currently saving up for our first investment. Does anyone know the areas where there is high demand?
Given the importance of location, how do we find out the best location to invest in?
We are based in London and considered contacting agents to find out where demand is high. Someone in a thread on this back in January mentioned demand in the North East. Is it best to stick to your own area, for ease of maintenance checks, etc or does it not matter?
For some reason I was unable to respond to the thread due to technical issues.
As a newbie, I really appreciate any helpful advice anyone has to give.
Many thanks
Sarah
Tags:
garage, investing in a garage to rent out, rent garage, rental garage investment, renting a garage
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Member Since July 2013 - Comments: 305
10:04 AM, 25th July 2024, About 2 years ago
You might wish to have a look at Bath. Seven parking spaces for sale for £120k.
About 25 minutes walk from the city centre and 10 minutes from the main hospital.
On street parking in Bath is at a premium and getting worse.
Good luck.
Member Since November 2016 - Comments: 227
10:23 AM, 25th July 2024, About 2 years ago
In business with friends or family I would agree at the outset what you are going to do if one, or more, of you want out, or if you’re paying finance what to do if one of you is made redundant or gets ill.
Can work well, but worth looking to the future.
Member Since September 2022 - Comments: 193
1:40 PM, 25th July 2024, About 2 years ago
Are you mad ?
Do you think you will make money from buying and renting out garages ?
I have sand available in Africa if you want to buy some.
ISA,s stocks and shares
LISA ISA if saving for a house or retirement
Member Since July 2013 - Comments: 305
3:26 PM, 25th July 2024, About 2 years ago
Reply to the comment left by DAMIEN RAFFERTY at 25/07/2024 – 13:40
Why do you say that Damien?
Member Since September 2022 - Comments: 193
6:15 PM, 25th July 2024, About 2 years ago
So you think buying a concrete building miles from where you live with No idea who could be using it as a good investment ?
Who owns the land ?
Stand alone building won’t have power or water supply.
I read so many get rich quick schemes around garages and woodland.
Not meet one multi millionaire yet who got rich from buying and renting garages.
Member Since October 2017 - Comments: 67
8:44 AM, 27th July 2024, About 2 years ago
DONT they are a nightmare we had all the garage doors stolen one night we had issues with people using the garages but denying they were. then you cant just go and turf them out as thats against the law you also need to watch if nearby owners are using your land to access their rear gardens for parking etc after 12 years they have the right for ever
Only buy if you can see the pooability of selling the land for future housing.
The returns aren’t what they might say ask to see the actual income statements for the last two years