Hey, everybody. This is Kevin Bupp, and I want to welcome back to another episode of the Real State Investing for Cashlow podcast. And today, you've got just me. You've got me solo. I'm going to be diving into a topic that, you know, we've very quietly, but very intentionally, have become experts in over the last couple of years. And that's parking investments. And so I'm sure if you drive a vehicle, you more than likely have parked in one of these, whether it be a parking garage or a surface parking lot. You know, they're all the same. They all facilitate and support vehicles. And that's what we're going to be talking about today, investing in parking lots and parking garages. And also what we like to call as cash flowing covered land plays. And so we're going to talk about the details of these investments. We're going to

break down why we love this asset class, why it really fits our investment thesis so well. And

while we believe that this asset class is positioned for multiple decades of prosperity and

why I feel it's still one of the most overlooked niches in commercial real estate, so many times

though, I get on a podcast where I'm going to be

interviewed. And the host simply states, I've never met anyone or I've never interviewed

anyone or I've never spoken with anyone that's owned a parking investment. That rings true.

I felt the same way when I ran across this asset class, you know, roughly eight years ago.

And so I felt the same way. That's what was intriguing to me is that I'd never considered this investment vehicle. So we'd started digging in, you know, seven or eight years ago, dug deep for a couple of years, studying the asset class. And also we bought our first parking investment back in 2020, have since bought about $100 million of parking investments over the last five years,

and it's been a great run. They've been incredible, incredible investments. They've performed very well.

We've been able to add value in phenomenal markets across the country, some of the largest markets,

some of the fastest growing markets in the country, Phoenix being one, Charlotte being one,

Philadelphia, just to name a few. And so we're

going to break down this investment opportunity with you today and just share, you know,

again, some of the reasons why we love this investment type of this investment vehicle. And so

at Sunrise Capital Investors, which is, which is my investment firm, you know, our entire

philosophy has always been centered around acquiring stable,

durable cash-willing assets inside of markets where supply is limited and demand is consistent

and is going to remain consistent for many, many years to come. And so, you know, parking really

checks every single one of those boxes. And, you know, I'll just, I'll run through a couple that what I feel

are the top reasons. There's, you know, a whole list of reasons why we love this investment vehicle. But I'll just, I'll run through maybe the top three here. And so, you know, one of the big ones is, and this is one of the reasons why we got attracted to mobile home parks, you know, roughly 15 years ago is fragmented ownership.

And so most parking investments are still owned

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