Whether you are buying a campground, RV Park or RV resort, this can be a very exciting as well as frightening time. As you consider this investment, there are several important steps to keep in mind when acquiring your perfect campground.
Get Prequalified for Buying a Campground or RV Resort
Before you begin the buying process, you should first get prequalified for financing. Getting financing secured will allow you to act quickly when we find your perfect campground, RV Park, or RV Resort. Sellers will react far more positively to your offer if they know you are already approved.
Keep in mind that having lower amounts of liquid cash for a down payment is NOT a deal breaker. I can provide many types of creative financing options that can help your buying process:
This is a Roll-Over for Business Startup. The ROBS program allows you to take your existing 401-K and roll it into a new business (your new campground!) without penalty!
Sale of Existing Home or Business
We can use this collateral while you sell, then convert and use the sale to help pay off your investment.
Seller Assisted Financing
In some cases, the seller is willing to participate in the financing.
504 and 7A type loans are possible. I am a much bigger fan of the 504 program, as the rates can be more stabilized.
Finding Your Perfect Campground or RV Resort
Once you have created a plan for financing, it is time to start looking for a campground to buy. There are several questions to ask when searching for a campground that will help make the process much easier.
What kind of campground do you want to buy?
The first step to buying a campground is establishing your expectations. Answering this question will define the type of campground or RV resort you are searching for and help narrow down your choices. Deciding the following factors will help you better define your preferred campground:
- Kid friendly/Adult themed
- High energy/Low energy
- Bar/Restaurant included or not
- On or near water
- Activities on property/Activities near the property (Tourist community)
- Location – what geographic areas interest you?
When do you want to purchase?
When buying a Campground/RV Park or RV Resort the timing of the purchase will dictate how much start-up cash you have to begin operations. Buying in the Spring, before the season starts, will give the buyer access to ALL the seasonal site money received over the off-season as well as all money received for advanced reservations! This is money that will help you rebuild your on-hand cash reserves.
How do I find the right campground for me?
To find the campground or RV resort that best suits your needs, you need an experienced agent that understands the industry. With 15 years’ experience in this industry, including $120 million in sales, I can help you find your next campground! As an agent that has an in-depth knowledge of financing options, I have a proprietary spreadsheet that works in unison with banks and appraisers. This way, when we analyze the price of a subject property we can be confident that the bank will be able to fund it for us!
Finding the correct park or campground is just one factor. Once you have that, you will need a team of people that can make sure you know what you’re getting:
- Building inspections
- Market rate for your area
- Social media presence
I can help point you in the right direction for all of these!
What do I need to know when closing on a campground deal?
Closing is the best feeling especially when you have all the tools we can provide to make sure you hit the ground running! Whether you require a team of folks from real estate, web designers, marketing people, campground consultants, you name it; I have the contacts to make it happen!
When considering the buying process, a WACO membership is another valuable tool that can benefit you in so many ways! This membership includes access to all the marketing and contract materials to ensure you do things right, access to a staff attorney, and access to deep discounts with vendors at the best vendor attended convention in the US!