The idea is to invest in the construction of a storage facility or parking lot, and then rent out the individual units or spaces to customers. This can provide a steady stream of rental income without the need for much active involvement on the part of the owner. In addition, the value of the property may appreciate over time, providing potential for capital gains when the property is sold.
How building and renting storage units or parking spaces can be a form of passive income.
- Thread starter Johnson2468
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Any business that has to do with renting is a good passive income source. And if God should bless you, you are renting out items that are frequently demanded, you would make much money.
The word passive income comes along when receiving the rental payment monthly. I am sure you can feel the comfortable life for not working that much to certain things. In this kind of business, you just need to wait for the payment.
One of the best location that is very good for this kind of business is somewhere that is near the marketplace because a lot of business owners will always look for where to park their cars.
I acknowledge that this type of business is very lucrative most especially if it's located in a commercialised area.
If you can have parking spaces at the market, you would be making lots of money. Also, anything that can be rented is a good source of passive income.
Renting storage units is a popular and lucrative business in my location. Due to the high housing costs,, most people live in a small apartment. They need additional space to store items such as holiday decorations, old furniture and appliances, books.
