Looking to start investing in truck parking, check out my truck parking course with never before seen videos, workbooks, and all you need to get started! iitp.circle.so/join?invitation_token=6e04caa380254b8433007fbdaf66411dd8b991c6-39e082df-4ddf-42d2-8821-3fbc936fe774
As an owner operator truck driver, I appreciate this video and those taking interest in it. There is a SEVERE shortage of truck parking especially around much of the larger metro areas and northeast. It’s to the point that I choose my runs, and I refuse to go and certain parts of the country. A suggestion I have to minimize cost is to really improve your travel lane to the level you choose, but where the trailer is sitting when backed in puddles/and gravel is acceptable. Another suggestion is that you don’t need a property with a very large frontage on the road. You need enough for a large driveway, but it really doesn’t matter if the trucks are parking behind other businesses as long as you advertise it and people know it’s back there. With the price of land, you’re not very likely to find anything right off of the interstate and if you did truck parking, wouldn’t be a very good return on investment most likely. One amenity that makes a parking lot a lot better is if there is an integrated heavy duty shop. Obviously that’s not going to work for every application, but you could possibly partner with a mobile service mechanic and give him a few spaces on your lot to do truck and trailer inspections, tire changes, easy maintenance things that don’t require a large building. As far as layout, you really need to find a truck driver willing to help you out and layout the spots. You don’t want the spots set up the wrong way from the lane of travel to back in and you don’t want them too wide or too narrow. An experienced intelligent truck driver will be able to give you some excellent advice probably for no more than a cup of coffee. One thing you could also consider is offering a spot for or renting out storage conex containers. Also do not forget about things other than trucks, like cranes and large construction vehicles . You don’t necessarily need to improve the lot underneath of them and that’s easy money on a long-term rental. As far as security and a gate, it’s really going to depend where you’re at and what you’re trying to do. I feel like you could probably save a lot of money in most parts of the country even in rough neighborhoods. Truck drivers don’t really expect the gate or fence to provide security Against theft of vehicles or cargo. Instead of just having the wild West of parking inside the gate or entrance of the facility, you could separate it out into long-term and short-term. With short term overnight parking, you could kind of fill out the demand and see what it is and each individual spot could have a barrier Blocking it. I’m thinking like a wooden lift bar, a cable gate, or a pole in the ground that the truck driver will have to move. Depending on your situation, you may be able to remotely trigger a servo to open access after payment. I’ve got some ideas how to do that fairly inexpensively.
I appreciate all this insight! The comments about demand are certainly true, drivers face a shortage. But is the solution to charge for parking? Or find businesses to give it away for free? Yes, totally agree on the surface priority. Make the travel lanes and "turns" really heavy duty with aggregate or binder and make sure it runs water well. any puddle will be destroyed. Lower priority on straight trailer rolling areas. Investors have differing levels of tenant mix. Its up to the investor, but there are pros and cons to dividing up your tenant profile.
Thank you so much for sharing! This was very helpful and the way you broke down the details made it easier to understand. It would bar even more nice if you could talk about a real life past project, with the location and the specific rules applicable to that municipality, and how you went through the process from beginning to end making things work for a specific site. And is it easy to purchase a piece of land that has been zoned to be able to develop into a commercial parking lot? And how important is location choosing or would close to any major highway work?
Glad you found it helpful. I can do another video on location and zoning rules. Easy is all relative, nothing highly profitable is easy, but this is easier than other CRE projects! Location is critical. Not just proximity to a highway, but *_access_* . easy on and easy off.
Hello, Great video, very educational and informative. Who would you use or who HAVE you used as the POS for the Daily, Monthly charges that Trucks will pay? Can you suggest a few companies to take a look at please. Thank you.
Check out Rig Hut, Truck Bays, Frieght Ninja, I actually have interviews with a lot of them on my channel! Also Extra Space Storage can work, cheaper and not truck specific.
Indeed, very useful information. I have been looking for information regarding this topic however, not sure where to start. I believe I have found what I was looking for. Thank you!
Great breakdown. Much appreciated! I know parking rates vary depending on the market. What do you typically charge per truck daily/ weekly/monthly? Thanks!
In DFW, call it $30 a day, $100 week, $300/month. I don’t see daily rates much below that, monthly can range from $100/dirt/unimproved to $500 for Class A
I appreciate you sharing that. Do you have problems with city fines? Are you feeling pressure on load rates? Some carriers reimburse for parking costs.
I want to do this but can only afford 1/2 acres of land can it be beneficial? Also could you email me a breakdown like you did on this video but for 1/2 acres
@@shellshell270 1 is likely too small to be worth the fixed costs of development and operations unless you're in a VHCOL location. 2 acres is maybe, but you have to be able to charge infill city rates (large city, but need not be Orange County, CA)
Great point! Depending on location, you'll only need to account for water detention/stormwater runoff if you're installing non permeable base, e.g. concrete or asphalt. If you stick with gravel/flexbase, the water seeps down more easily.
Great information. With your IOS properties, do you have a full-time employee managing the location? Is there a way to make these properties fully automated? If so, can you recommend a software system that can help manage.
I rely on my employees, but they are not dedicated to PM. At the end of the day, its physical real estate. There is no way to make these fully automated and less so for managed truck parking (vs. single tenant NNN). We use Rig Hut for inventory management, Truck Bays is great for access control, ESS is also another player. It does not replace boots on the ground.
Great content! I am in the process of finding land in NC for secure overnight truck parking. You hit on the major points, but one thing I am still unsure about is bathroom cleaning and trash removal. I plan to buy "rural" industrial land near a major highway, but I would need to have a rental bathroom/ shower trailer for truckers to use. I keep thinking about how to best hire someone to come clean the facilities once a day. Have you encountered this before? I'm wondering if a cleaning company would be better than hiring an individual person. Any tips would be appreciated!
Thank you. You'll need operations, boots on the ground for that. Trash removal can be a dumpster, your bathroom can be a mobile trailer setup. Personally, I'd like a person who can walk the perimeter, check the fence, pick up trash, and clean the property. a cleaning company typically won't do those things.
That’s helpful. What methods do you find effective in finding someone for that role? The locations I have in mind aren’t near my hometown. I appreciate your help!
@@johnmisenheimer7443 thats tough, Id say general handyman, talk to site supervisors from jobs youve bid out. Just start talking to and hiring guys with similar skillsets and ask who wants a side job
I’m an owner operator, from your perspective I definitely would not provide shower facilities. Let the truckstops handle that. The dumpster suggestion is probably a good idea, make sure you have a camera on it and signage letting people know they can’t just dump tires or pallets. As far as the cleaning and ground keeping, perhaps one of your future tenants might be OK with picking up and maintaining the area for a free monthly spot. Maybe you could find hotel cleaning staff looking for a side hustle to clean any interior bathrooms or just go with Porto pots.
Thanks for the feedback! I’m actually in the process of working out a great lease deal at the intersection of two major highways in NC. My direct competition are big truck stops that offer free showers. Reserved spots are sub $20. Thinking to offer showers as a way to entice truckers to stop at my lot and avoid the others. Trying to make my business model a step above what truckers currently receive at truck stops. Nice clubhouse with comfy couches, TVs, vending, exercise room, Free Coffee! Branding and experience is a big driver for my model. Plan to charge between $20-$25 in a secured lighted lot with automatic gate. Thoughts?
Do you have a video going over demand and/or daily/monthly rent analysis? I have an acre of vacant land in a pretty rural area right at the intersection of two interstates. Not sure if that's big enough to justify development
Thank you for posting, very helpful to me, as I am new to this. I have a piece of land near Sherman Tx and would like to open a Truck parking /IOS but am not sure where to start and what to do next. This video helped me a lot, but I still need more help. It's about 4 acr land.
@@RonaldRohdeLaw Thank you for the prompt respond!!!! I am sorry I don't know much about land, but this land is flat with grass and some trees in the back. it has access to major highway like 82.
greetings, i really love your videos and i want to ask for you opinion on this. Will a 2 arc of land work as a truck parking? thank you so much for your informative and educational videos. Wish you the best
I’ve been looking at this around Houston. I was exploring several options for the surface, gravel to concrete, but quotes I’m getting for an acre of concrete is $120k. Where do you get $50k? Is this a 6” slab? End goal is develop a class a property I can sell to hedge fund.
so the concrete really depends on whether site work is included vs just concrete material itself and its priced per yard, so sq ft can be a difficult approximation. yes fully paved yard would be best suited for an institutional exit!
Have you ever seen landfill land used for truck parking? I have some land my grandfather had dug out and filled back in years ago and have been thinking of doing this in the future
Yes it can be done but depends on your definition of landfill. And what exactly was there. Is the trash removed now? Where was the fill dirt from? Clean fill?
@@RonaldRohdeLaw It was all clean fill that was put back in the hole, I’m off I-35 just outside of San Antonio on the Northeast side and everything around is being developed so I’m looking into what would be good to do with the land besides having cattle on it as of right now
Question: Once you have a IOS rented up and stabilized for 1 year, What are bank's appetites for cash out refinacing, as far as % of market value. With multifamily, its 70%, but I imagine its more like 50% here? Or maybe you haven't done that yet. I also have the same question in regards to just the initial purchase of vacant IOS (say $2.5M purchase 5 acres), what is a bank's appetite to lend on something with no cashflow thats just vacant? 50% of market value? My interest would really be limited by these things. If I can't get my initial investment out and buy more after its rented, its an issue. Really great vids, I'v watched a lot.
We’ve considered it but leasing becomes purely a cash flow business that needs scale to exit vs covered real estate investment I wouldn’t spend more than 1/3 of gross rents on total rent revenue
Im in the DFW area and it seems most cities are requiring all concrete paving. Its never working for my numbers to get a realistic parking rent for a 5 acre lot of concrete poured. Any numbers on this would help.
It definitely depends on the City, gravel is going to be your best bet. Pure concrete yard only may not pencil, but what about with a small building? You'll get much broader uses with a building as well.
Definitely something that can be scaled. realize, outpost, they are some outfits that are building a truck parking business model. I have a invest in truck parking group, I can help people get started AND own a piece of the real estate!
I see there is a gravel expense and concrete expense. Is the concrete laid over the base layer gravel? And does that concrete expense include labor, rebar, etc?
@@RonaldRohdeLaw I signed in. thought it was free. I saw 2 free -15 min vids and the rest of courses were paid. Thought it was free courses. U were saying its free to join the group. Got it
Looking to start investing in truck parking, check out my truck parking course with never before seen videos, workbooks, and all you need to get started! iitp.circle.so/join?invitation_token=6e04caa380254b8433007fbdaf66411dd8b991c6-39e082df-4ddf-42d2-8821-3fbc936fe774
As an owner operator truck driver, I appreciate this video and those taking interest in it. There is a SEVERE shortage of truck parking especially around much of the larger metro areas and northeast. It’s to the point that I choose my runs, and I refuse to go and certain parts of the country.
A suggestion I have to minimize cost is to really improve your travel lane to the level you choose, but where the trailer is sitting when backed in puddles/and gravel is acceptable.
Another suggestion is that you don’t need a property with a very large frontage on the road. You need enough for a large driveway, but it really doesn’t matter if the trucks are parking behind other businesses as long as you advertise it and people know it’s back there. With the price of land, you’re not very likely to find anything right off of the interstate and if you did truck parking, wouldn’t be a very good return on investment most likely.
One amenity that makes a parking lot a lot better is if there is an integrated heavy duty shop. Obviously that’s not going to work for every application, but you could possibly partner with a mobile service mechanic and give him a few spaces on your lot to do truck and trailer inspections, tire changes, easy maintenance things that don’t require a large building.
As far as layout, you really need to find a truck driver willing to help you out and layout the spots. You don’t want the spots set up the wrong way from the lane of travel to back in and you don’t want them too wide or too narrow. An experienced intelligent truck driver will be able to give you some excellent advice probably for no more than a cup of coffee.
One thing you could also consider is offering a spot for or renting out storage conex containers. Also do not forget about things other than trucks, like cranes and large construction vehicles . You don’t necessarily need to improve the lot underneath of them and that’s easy money on a long-term rental.
As far as security and a gate, it’s really going to depend where you’re at and what you’re trying to do. I feel like you could probably save a lot of money in most parts of the country even in rough neighborhoods. Truck drivers don’t really expect the gate or fence to provide security Against theft of vehicles or cargo. Instead of just having the wild West of parking inside the gate or entrance of the facility, you could separate it out into long-term and short-term. With short term overnight parking, you could kind of fill out the demand and see what it is and each individual spot could have a barrier Blocking it. I’m thinking like a wooden lift bar, a cable gate, or a pole in the ground that the truck driver will have to move. Depending on your situation, you may be able to remotely trigger a servo to open access after payment. I’ve got some ideas how to do that fairly inexpensively.
I appreciate all this insight! The comments about demand are certainly true, drivers face a shortage. But is the solution to charge for parking? Or find businesses to give it away for free?
Yes, totally agree on the surface priority. Make the travel lanes and "turns" really heavy duty with aggregate or binder and make sure it runs water well. any puddle will be destroyed. Lower priority on straight trailer rolling areas.
Investors have differing levels of tenant mix. Its up to the investor, but there are pros and cons to dividing up your tenant profile.
Your awesome, can't thank you enough for this invaluable info
Thx, make some podcast about building warehouse for rent
Thank you so much for sharing! This was very helpful and the way you broke down the details made it easier to understand. It would bar even more nice if you could talk about a real life past project, with the location and the specific rules applicable to that municipality, and how you went through the process from beginning to end making things work for a specific site. And is it easy to purchase a piece of land that has been zoned to be able to develop into a commercial parking lot? And how important is location choosing or would close to any major highway work?
Glad you found it helpful. I can do another video on location and zoning rules. Easy is all relative, nothing highly profitable is easy, but this is easier than other CRE projects! Location is critical. Not just proximity to a highway, but *_access_* . easy on and easy off.
Hello, Great video, very educational and informative. Who would you use or who HAVE you used as the POS for the Daily, Monthly charges that Trucks will pay? Can you suggest a few companies to take a look at please. Thank you.
Check out Rig Hut, Truck Bays, Frieght Ninja, I actually have interviews with a lot of them on my channel! Also Extra Space Storage can work, cheaper and not truck specific.
Good video & info. Keep it up!
Thank you sir! Good to see you back on social media 🥹
Indeed, very useful information. I have been looking for information regarding this topic however, not sure where to start. I believe I have found what I was looking for. Thank you!
glad to help
Great breakdown. Much appreciated! I know parking rates vary depending on the market. What do you typically charge per truck daily/ weekly/monthly? Thanks!
In DFW, call it $30 a day, $100 week, $300/month. I don’t see daily rates much below that, monthly can range from $100/dirt/unimproved to $500 for Class A
@@RonaldRohdeLaw thanks so much for the feedback. Much appreciated!
How many trucks per acre. What is a minimum size. What is an average size.
What I’m sayin
20 per acre but it increases as yard increases and travel lanes decrease
Average truck size ,,W -13.5 , length- 80-100' feet(truck +trailer) for bobtails W 13.5 - L 30-45'
tremendous value. thank you!
You're welcome, truck lot financing and truck space pricing incoming! Subscribe and get notified!!!
brilliant! I love this
Hope it helps you
How much space would need to be in front of every truck to pull out of spaces?
25 ft enough ?
As a trucker, I’d rather park on the side of the street in Chicago than pay for parking. We’re tired of being exploited.
I appreciate you sharing that. Do you have problems with city fines? Are you feeling pressure on load rates? Some carriers reimburse for parking costs.
GOD Bless Him & Thank uuuuu sooo much for creating this video; I have been looking for this type of information; a actual break down
Thank you! Check out my other videos for more information on managing truck parking, financing, vendors, pricing, etc.
I want to do this but can only afford 1/2 acres of land can it be beneficial? Also could you email me a breakdown like you did on this video but for 1/2 acres
1 or 2 acres of land lol not 1/2 of a acre sorry
@@shellshell270 1 is likely too small to be worth the fixed costs of development and operations unless you're in a VHCOL location. 2 acres is maybe, but you have to be able to charge infill city rates (large city, but need not be Orange County, CA)
@@RonaldRohdeLaw what does VHCOL mean ?
I didn't see anything mentioned about water retention? If grading at all wouldn't the city/county require some storm water retention plan?
Great point! Depending on location, you'll only need to account for water detention/stormwater runoff if you're installing non permeable base, e.g. concrete or asphalt. If you stick with gravel/flexbase, the water seeps down more easily.
How do you have your land asset and rental business structured? S-corp (land) with a separate holding company for the business? Thx
I would not do an s corp with real estate. We don't have separate, LL direct to tenants
Great information. With your IOS properties, do you have a full-time employee managing the location? Is there a way to make these properties fully automated? If so, can you recommend a software system that can help manage.
I rely on my employees, but they are not dedicated to PM. At the end of the day, its physical real estate. There is no way to make these fully automated and less so for managed truck parking (vs. single tenant NNN). We use Rig Hut for inventory management, Truck Bays is great for access control, ESS is also another player.
It does not replace boots on the ground.
Great content! I am in the process of finding land in NC for secure overnight truck parking. You hit on the major points, but one thing I am still unsure about is bathroom cleaning and trash removal. I plan to buy "rural" industrial land near a major highway, but I would need to have a rental bathroom/ shower trailer for truckers to use. I keep thinking about how to best hire someone to come clean the facilities once a day. Have you encountered this before? I'm wondering if a cleaning company would be better than hiring an individual person. Any tips would be appreciated!
Thank you. You'll need operations, boots on the ground for that. Trash removal can be a dumpster, your bathroom can be a mobile trailer setup. Personally, I'd like a person who can walk the perimeter, check the fence, pick up trash, and clean the property. a cleaning company typically won't do those things.
That’s helpful. What methods do you find effective in finding someone for that role? The locations I have in mind aren’t near my hometown. I appreciate your help!
@@johnmisenheimer7443 thats tough, Id say general handyman, talk to site supervisors from jobs youve bid out. Just start talking to and hiring guys with similar skillsets and ask who wants a side job
I’m an owner operator, from your perspective I definitely would not provide shower facilities. Let the truckstops handle that.
The dumpster suggestion is probably a good idea, make sure you have a camera on it and signage letting people know they can’t just dump tires or pallets.
As far as the cleaning and ground keeping, perhaps one of your future tenants might be OK with picking up and maintaining the area for a free monthly spot. Maybe you could find hotel cleaning staff looking for a side hustle to clean any interior bathrooms or just go with Porto pots.
Thanks for the feedback! I’m actually in the process of working out a great lease deal at the intersection of two major highways in NC. My direct competition are big truck stops that offer free showers. Reserved spots are sub $20. Thinking to offer showers as a way to entice truckers to stop at my lot and avoid the others. Trying to make my business model a step above what truckers currently receive at truck stops. Nice clubhouse with comfy couches, TVs, vending, exercise room, Free Coffee! Branding and experience is a big driver for my model. Plan to charge between $20-$25 in a secured lighted lot with automatic gate. Thoughts?
Do you have a video going over demand and/or daily/monthly rent analysis? I have an acre of vacant land in a pretty rural area right at the intersection of two interstates. Not sure if that's big enough to justify development
I'm posting a truck parking financing video but I can do that next!
@@RonaldRohdeLawwhen will it be up?
@@raekwonwilliams6500 Thursday!
What kind of motorcycle do you have??
I used to have a GS500! ZX6R !!!
Thank you for posting, very helpful to me, as I am new to this. I have a piece of land near Sherman Tx and would like to open a Truck parking /IOS but am not sure where to start and what to do next. This video helped me a lot, but I still need more help. It's about 4 acr land.
is it raw land? ETJ? is there demand for outside storage?
@@RonaldRohdeLaw Thank you for the prompt respond!!!! I am sorry I don't know much about land, but this land is flat with grass and some trees in the back. it has access to major highway like 82.
@@786Marwa send us an email, ill take a look
@@RonaldRohdeLaw I don't have your email, which email should I send it to?
@@786Marwa info@ronaldrohdelaw.com
greetings,
i really love your videos and i want to ask for you opinion on this. Will a 2 arc of land work as a truck parking?
thank you so much for your informative and educational videos. Wish you the best
Yes, thats about my minimum size for 75' spaces, but definitely enough room if its a good shape with a wide entrance!
I’ve been looking at this around Houston. I was exploring several options for the surface, gravel to concrete, but quotes I’m getting for an acre of concrete is $120k. Where do you get $50k? Is this a 6” slab? End goal is develop a class a property I can sell to hedge fund.
so the concrete really depends on whether site work is included vs just concrete material itself and its priced per yard, so sq ft can be a difficult approximation. yes fully paved yard would be best suited for an institutional exit!
Very interesting video!
Thank you!
@@RonaldRohdeLaw currently doing my research 🤞🤞
@@nunomachado2110 let me know what other questions you have. I’ll do another video
Have you ever seen landfill land used for truck parking? I have some land my grandfather had dug out and filled back in years ago and have been thinking of doing this in the future
Yes it can be done but depends on your definition of landfill. And what exactly was there. Is the trash removed now?
Where was the fill dirt from? Clean fill?
@@RonaldRohdeLaw It was all clean fill that was put back in the hole, I’m off I-35 just outside of San Antonio on the Northeast side and everything around is being developed so I’m looking into what would be good to do with the land besides having cattle on it as of right now
HJC! This is good!
Thank you! I hope it’s useful
Question: Once you have a IOS rented up and stabilized for 1 year, What are bank's appetites for cash out refinacing, as far as % of market value. With multifamily, its 70%, but I imagine its more like 50% here? Or maybe you haven't done that yet. I also have the same question in regards to just the initial purchase of vacant IOS (say $2.5M purchase 5 acres), what is a bank's appetite to lend on something with no cashflow thats just vacant? 50% of market value? My interest would really be limited by these things. If I can't get my initial investment out and buy more after its rented, its an issue. Really great vids, I'v watched a lot.
If you have a building you can get 70-75%
Pure yard is harder without a NNN lease
My next video talks all about financing!
@@RonaldRohdeLaw would a fabricated steel metal building qualify?
What are your thoughts on leasing the land? And what would you expect to pay?
We’ve considered it but leasing becomes purely a cash flow business that needs scale to exit vs covered real estate investment
I wouldn’t spend more than 1/3 of gross rents on total rent revenue
@@RonaldRohdeLaw what are the advantages to owning the land since you can’t write it off but can write off rent payments…
@@alexcowley8110great question! Wish it was answered, very helpful video! 👏🏾
Im in the DFW area and it seems most cities are requiring all concrete paving. Its never working for my numbers to get a realistic parking rent for a 5 acre lot of concrete poured. Any numbers on this would help.
It definitely depends on the City, gravel is going to be your best bet. Pure concrete yard only may not pencil, but what about with a small building? You'll get much broader uses with a building as well.
Great video! But any tips on finding funding?
Do you have a project? If not. Pick a local sub market and find one first
I hear recycled asphalt is free. They will even bring it and dump it on your land. Maybe a small fee for delivery. How truthful is this?
How can you get it?
I’m sorry that is not true I haul that type of material every day. I think you are talking about milling. Here in Texas it’s like 15 bucks per ton
What books you recommend to read about industrial real estate ? (I bought your book alrdy😂)
There isn’t much out there. Some books from a tenant or broker perspective may be helpful. Industrial Income by Justin Smith
@@RonaldRohdeLaw ye, Justin wrote nice books, I looking something like his books, mby you know?
If you found a model that works, franchise it out. Take the McDonald’s approach of owning the land.
Definitely something that can be scaled. realize, outpost, they are some outfits that are building a truck parking business model.
I have a invest in truck parking group, I can help people get started AND own a piece of the real estate!
Does it require onsite detention for trucking parking?
depends if you have nonpermeable surfaces installed or not. If you're doing concrete, yes you'll need water detention/stormwater accountability
I see there is a gravel expense and concrete expense. Is the concrete laid over the base layer gravel? And does that concrete expense include labor, rebar, etc?
You don’t need concrete
Almost need a separate expense line just for bollards!
One included for gate installation 😂
How much is your course??
Right now, its free! I'm trying to gauge feedback, so come join 50 other members!
@@RonaldRohdeLaw I signed in. thought it was free. I saw 2 free -15 min vids and the rest of courses were paid. Thought it was free courses. U were saying its free to join the group. Got it
@@Ezmoneyash No, those courses should also be free!
"SIM-MY Truck" not "Sim-ME Truck" 😂 you don't sound Canadian to me 🤔
Got me!!! I have no clue how to pronounce it (blame AI)!!!
@RonaldRohdeLaw 😂