Ben Karp

@ThinkAppraiser @collin_ruth89 The deals worth considering are traded exclusively off-market imho

@collin_ruth89 Could be interesting

For years now, I've wanted to own a parking lot. Seems like the perfect investment. Do NOTHING and print cash. Talk about sky high "return on hassle". Can't wait to build a portfolio of lots.

@collin_ruth89 Can confirm this is true.

@bridgelenderguy Own several of these. Key to these is security + access + location. Happy to give my 2 cents.

Getting the IOS bug... just learned of a comp that if I achieve at the one I'm looking at would be a 35% YOC Who wants to join me in some dirt

@collin_ruth89 It’s more complex than ‘doing nothing,’ but it’s true that the potential ROI can be quite lucrative.

For years now, I've wanted to own a parking lot. Seems like the perfect investment. Do NOTHING and print cash. Talk about sky high "return on hassle". Can't wait to build a portfolio of lots.

@_PE_Charles @IamScottlarson Agreed. 06-09’ was gen opportunity. Quietly some unbelievable deals done

@BostonBen5 @IamScottlarson Cash printing but low yield in infra now. Infra firms are moving up market to core plus assets to chase returns. You're eight though, for the amount of money uou can deploy for certainty of cashflows infra leveraged returns were insane.

What's the most unsexy, "boring" business you've ever seen that makes a ton of money? (riches in niches)

@Stealx Agree + continuation excessive taxes on biz owners

Biggest threat to Chicago Slowing down the flow of Big 10 graduates moving here For decades, Big 10 grads top cities to move to after graduating always had Chicago in the top 3 Nowadays, there’s just more options… options that weren’t really popular 20 years ago Nashville, Miami, Austin, etc.. Those grads are the lifeblood of so many critical industries in Chicago Those grads go on to start new businesses in Chicago It’s critical we address the crime and safety, we make it a business friendly environment, improve our schools and continue to show the world Chicago is really one of the best cities in the world

@sweatystartup Best kept secret in the parking business but a great marketing tool for tech co's

Full self driving is a decade or more away. We’ve all been completely duped - just like when we were told solar and wind energy were viable replacements to oil and gas.

@rafaquinn It's essentially a bunch of a slabs of concrete. No tenant improvements, leasing commissions, etc

@BostonBen5 Very little upkeep as well

What is your investment thesis or value proposition in 280 characters or less?

@bigp34ch A parking garage ? It's valued similarly to traditional real estate assets based on revenue minus operating expenses.

@BostonBen5 How much does it cost to buy one of these? Wondering how much the debt cost eats into that cash flow…

Chess not checkers ? Interesting move.. city owns adjacent garage. Losing hotel parkers to private garage next door. No options for hotel now. localsyr.com/news/local-new…

@TripleNetInvest Even if the market had demand for space , this building uniquely challenged with only 30 on-site parking stalls. It's a recipe for disaster

A 290k office tower in Baltimore is being auctioned at a starting bid of $4M or $13 per sq ft Local sources say that it could sell around that price if there are any bidders at all 51% vacant Any takers?

@JohnJBlatchford Should be a boon for the neighborhood & hopefully a boon for the parking.

@BostonBen5 Thought of you when I saw the article. I bet this project will crush it.

Office to residential conversions will transform cities like Cincinnati. From 1960s-2010, office was the only thing that kept downtown alive. But now many buildings are 50%+ vacant, with no end in site, and regional owners can't afford to keep holding on. And we need a lot more housing. This 200,000sf building just sold 75% vacant for a reported $4M, will now become ~200 apartments.

@Michael_Asarch Consider parking ?

My family is looking to place $500K - $1M in LP positions over the next year in $100K-$250K increments. Does anyone have any solid referrals for GP/Sponsors we should be talking to? Any sector. People with track record, trustworthy, easy to understand business model, etc. People like @Keith_Wasserman @fortworthchris @imrichardfertig #retwit

Car ownership is dichotomy : Same person will spend $75k on car but circles the street for hours to avoid paying $20 for parking.

Will be in Denver next week looking at a few opportunities . Have some spare time while I’m there. Who should I meet ?

@barrettjoneill Something like this in an urban CBD

@BostonBen5 What are the best parking assets to own?

I've yet to see a standalone parking garage built that makes any economic sense. That's why acquiring below replacement cost might sound good, but in the parking world, it's just a vanity metric.