Buying a Campground With No Money Down
When it comes to buying a campground with no money down, you have several options. Keep these suggestions in mind as you continue to look for a campground and decide whether these strategies will work for you.
Contract For Deed/Land Contract
While this is not a typical strategy, it is possible. We have some owners that are eager to retire and sometimes look for a succession plan that includes having a manager work for a year or so, then take over under a contract for deed.
Seller Assisted Financing
Some banks will allow you to bring sweat equity to the deal and/or equipment that can be considered an asset to the park as long as the seller is willing to carry a second mortgage subservient to the first mortgage held by the lending institution.
Roll Over for Business Startup – you can use your retirement to create a new business PENALTY FREE! This is sometimes an amazing alternative to coming up with a large sum of cash!