RV Park Owner Reveals His Secret | RV Park Investing Part 1
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- เผยแพร่เมื่อ 29 ก.ย. 2024
- ✤ Welcome to Texas Land Dealer with Vema! Join us as we explore the dynamic world of RV park investing and management. In this episode, we uncover the secrets behind running a successful RV park, from handling constant inquiries to managing partnerships and strategic planning. Discover how one owner's journey from skepticism to success offers invaluable lessons for aspiring RV park entrepreneurs.
Delve into the intricacies of RV park management as we discuss the importance of quality amenities, such as level pads and well-maintained roads, in attracting and retaining guests. Gain insights into strategic decision-making and the balance between offering premium services and avoiding excessive debt. Whether you're a seasoned investor or new to the real estate game, this episode provides practical tips and strategies to elevate your RV park venture.
Join us on Texas Land Dealer with Vema as we unlock the secrets to RV park success and navigate the exciting opportunities in this burgeoning industry. Don't miss out on valuable insights and expert advice to help you thrive in the competitive world of RV park management.
Show Notes:
Our Mission in the Reddy Podcast is to level up your real estate knowledge. I talk with real estate experts every week to learn their secrets to success.
Contact Mark: hopehillpark.com | 512-999-7917
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⏰ Video Duration: 00:35:10
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Would have liked to hear the numbers. How many pads? How much did they have to put down? What kind of loan? Terms... The numbers make a great interview. You guys briefly mentioned 25 pads. Id like to hear how much per pad they charge on monthly rates..
Not sure about them but I’ve got 11 spots in a new park 1 hour north of Nashville Tn and get $900 a month plus electric. I’ve owned the land for years and did most of the ground work myself. Rough investment of 100k for 11 spots.
@@bctw9004 that sounds great..i actually live in waynesville nc and im going to nashville for a weekend vacation with wife and sister..i have a nice piece of land in sylva nc about 2 acres paid for and im thinking of making an rv park, whats the name of your rv park and i could come check it out when im there?…so would you say youre mostly filled up?
@@bctw9004how’s the park doing now? 90%+ occupancy yet? How long did that take since construction was completed if so? Does it vary a lot by season or not by much? Total after tax, after cost profits for this last accounting year? How many spots? Was it a Class A B or C?
I don't know about the rest of the nation or other parts of Texas but we opened an RV park in Tyler, TX a little over two years ago and have definitely noticed demand for RV sites has decreased. There have been RV parks opening all over since we opened. When we opened, demand for RV sites was high. I might be wrong but think we may be getting to a point of oversaturation. I know another RV park owner in this area that had full plans to expand and purchased items to move forward and backed out because his demand has also suffered. I just don't want folks to put forth their life savings and think it's going to be a cash cow. Maybe you'll have a different experience. It's a good thing i have another job. Just please do your homework and realize typical expenses for RV parks can run north of 50% (refere to Darrell Hess and Associates research on RV park expenses). And unless you have a ton of cash you'll have your loan on top of that. Thanks for your video.
I also own a smaller park in Tennessee. Yes, the demand has gone down.
This is March 3, 2024… and your personal experience is certainly on trend!
Large franchisors and corporate RV site Owners have created at once a competitive advantage over Independent Park Owners!
COVID created a big demand, springing from some people’s financial situation changing radically and the need to work at home increased the desire to buy an RV or 5th Wheel and reduce costs while being able to get outside without a mask!
After COVID, a lot of the demand started to collapse as jobs came back with a 9-5 requirement and expenses increased to cover costs and increase profits!
National and State Parks cracked down on the less than careful campers!
Walmart/Cracker Barrel opened their lots to attract consumers and created cheap parking, while opening up the standard irresponsible, cheaper RVer!
As larger Independent RV parks saw demand decrease, they started offering sales of lots with maintenance costs, which immediately runs into problems with Renters, whose kids and dogs do not respect the privacy Owners require!
The fact is, the RV Park camping industry is under going tremendous downward pressure, with people reversing the RV lifestyle, creating a huge and growing excess of used and over produced, often badly maintained and manufactured RV’s… and this has led to RV Parks going out of business!
Fellow Texas RV owner here. From my experience as well as talking to many other RV owners, the increasing space rental charges has become a primary distraction for most people. For all of the "niceer" parks out there, they seem to think they can jack prices up every year and people are going to keep paying. Not the case. I have my limits on what I'm willing to pay for a RV space, with or without trees or any other amenities. Park conditions, lack of trees., horrible roadways and RV spaces are other things that people always talk about. If you're a RV park owner and want to maintain capacity then stop jacking up rental charges just because you see other parks doing it. At some point you're going to reach that "Oh hell no!" price and all potential customers are going to run away as fast as they can, no matter how nice or crappy your RV park is. After all it's just a parking space.
Demand is way down. RVs are cheaply made, insane 10 year rule, even if you keep it pristine. Operating costs for an RV makes no sense to people anymore. Once you drive off a lot, your rig starts falling apart and repairs take months. Not worth the hobby anymore
Would like to see the financial on this. Everyone on TH-cam is a baller these days.
I refuse to rent at lots that look like a car lot. I will spend a little more to enjoy myself or boondock
17:17 be smart about the types of trees you're putting in and what they're blocking... always leave a northeasterly view so Starlinks will work
The fact he answers a phone proves he's outdated. Online reservations. Done.
Too many cooks spoil the broth. (Ye olde British version).
I always preferred to stay at parks that were NOT on a highway because it is much quieter. Thats a big plus for me.
Do you have showers for campers?
Trees and hedges also cut noise. And this park is obviously next to a major road.
I would say Yelp reviews are good because they are connected directly to Apple Map Photos. Apple Maps draws from Yelp Photos and Visitors who load directly to Apple. So I would recommend still having an experience on Yelp. Out of staters love Yelp (especially from bigger cities).
How many acres do you have? How many spaces?
how much did the land cost?
Do you have spaces for huge rvs and ample turn around room?
Thank you guys for sharing your experience
Our pleasure!
"Future homes will be on Wheels!" by: The Benovolent Bob Wells
Check with I.T.H............Randy Jones, Amanda, and ACE!
Ummm they already are 😂😂
Good information, for sure. Great video. Constructive criticism to the podcaster/interviewer would be to cut the word "like" out of your vocabulary.
He does it to make $ in addition to poor communication skills
10-16k a spot is about average.
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