Discussion
I've been building a list for about a year and the two best candidates I have are almost the same size and almost the same price, and the income is built in opposite directions. P…
Loss
I've got a 40 site park, mostly nightly, and I'd been running it with one live on site camp host getting a free full hookup site plus 1,400 a month. On paper she cleaned two bathh…
Discussion
I'm starting from zero and reading listings I can't buy yet, and the two that keep showing up in my saved list are opposites, so I want to know how the room splits. One is a 34 si…
From the desk:
A 110 site park with 8 cabins put out a request for a season contract covering cabin turns, two bathhouses, and supplying two camp host couples. Their stated budget is 96k for the…
Loss
I paid 61k for 9 acres about two miles from the entrance to a state park, thinking I'd put in 20 sites eventually and sell nightly stays. Two years later I sold the land for 58k a…
From the desk:
This is the first thing I have ever looked at seriously, so apologies if the question is obvious. A 15 site campground came up at 340k. Ten sites with water and electric, five ten…
Discussion
My agent told me flat out that the policy on my acreage won't extend to paying guests, and that I'd need to be rewritten commercially. Fine. Then he asked what amenities I'd have…
From the desk:
Deep in diligence on a 120 site park at 4.2M, seller's NOI 372k, so call it 8.8 going in. Good corridor location with a state park eight miles away. The revenue side holds up unde…
Discussion
Park is 58 sites in a mountain market, two hours from a metro, decent but not spectacular natural draw. Seller gave me two years of monthly revenue and it's the cleanest seasonal…
Discussion
62 sites, full hookup, near a national forest entrance. June through mid September we're effectively full at $58 a night. April, May and October run about 22% occupancy, and the f…
From the desk:
Under contract at 1.35M on a 42 site park in a lake town, about 25 minutes off a state highway. Mix is 18 full hookup pull throughs, 12 water and electric only, 12 tent sites, plu…
From the desk:
I have two offers I could write this week and they are so different I am not sure I am comparing them correctly. One is 56 sites on a travel corridor, ten minutes from an intersta…
Discussion
Asking $2.9M. 58 full hookup sites plus 6 rental cabins, T12 gross $640k, split roughly $410k site rent, $120k store and propane, $110k cabins. Seller's NOI is $232k, which is exa…
Win
Somebody sent me a ground lease on a small campground to look at as practice, and I want to flag one clause for anyone new, because it took me three reads to see why it mattered.…
Loss
Closed on a 54 site park last spring, 38 seasonal sites and 16 nightly. The seller's package showed 38 signed seasonal agreements at 3,200 for the season, which is roughly 122k of…
Discussion
Under contract on a 28 site park, currently run on a wall calendar and a cordless phone. I priced software and got wildly different answers. One platform quoted me a percentage of…
From the desk:
I closed on a 30 site park last fall, my first one outside of houses. There is a flat cleared area at the back, about 2.4 acres, that already has a gravel loop on it from a previo…
From the desk:
What I want is income that does not become a second job. I have been looking at small parks in the 500k to 900k range because the returns on paper look better than the small renta…
Discussion
I've been reading two write ups on the same kind of asset and the valuation gap is doing my head in. Write up one treats an RV park as hospitality. Revenue per available site nigh…
From the desk:
Reviewing a deck for a 3.5M raise, two parks in one recreational market, 190 sites combined. Structure is an 8 percent preferred return, 70/30 split above it, five year hold, 2 pe…