Hi Phil
Not meant to be an advice but from my own experience…
My mom was a huge fan of investing money in houses and properties and I owned a house from the age of 9 or 10, can’t remember… hang on, the house was managed by my parents and owned by the bank. IMO banks don’t want you to become insolvent, their business is money not houses nor other businesses or even car parks. What they really want is that you pay interest for a looong time.
To cut a long story short after some 15 years the house was paid off, incl. the bank interest I calculated that about 50% was paid by my parents and 50% by myself and the final price was about 200% - in other words, the bank earned the value of the initial price in cash.
Some years ago the estate market worsened in the region and I sold it for about 60% of the value it had five years earlier. The car parking space may not decrease that much in value (although you never know as prawn86 mentioned) but as I understand from your financial situation, you would need to give all earnings to the bank, maybe even more and that would be a shame.
I would try to find something where I am involved, I make the decisions and I can afford it and not depending on the bank too much. Stock market could be an option if you’re prepared to learn a little about how it works first. A good thing is to test your trading skills with a ‘realistic’ virtual trading account, so you don’t risk any actual money and if you start getting successful after half a year or so you can invest real money. Optionsxpress offer a free virtual account, however it’s for US equities only.
Another idea would be to invest in funds instead, that is perhaps less risky. Or the index shares burglar mentioned. One strange thing I noticed but don’t take my word for it, the graphs of the S&P/ASX 200 and S&P500 look very similar but what happens to the S&P5oo seems to be a few hours earlier most of the time because it’s US – could that be an advantage?
Good luck!