RV Park Owner Reveals His Secret | RV Park Investing Part 1
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- čas přidán 18. 05. 2023
- ✤ 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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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!
@@bctw9004 The demand has not gone down. The location has changed, Those are two very different things.
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.
Thank you guys for sharing your experience
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
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).
Most people like this video overcomplicate RV parks. The easiest money in RV parks is to 100% focus on monthly renters and DO NOT have any buildings with a foundation, paved roads, or concrete curbs on the property. This video is a good example of what NOT to do (paved roads and concrete curbs), they're wasting money and increasing property taxes for no return on investment.
The optimal location is less than 20 miles from a city. This puts you in another county with lower property tax rates and no foundation buildings making the taxes even lower, it's raw land with gravel driveways. The 20-mile distance to a city is for commuters who work in the city and live in the RV park all year, every year. Forget the feast or famine cycle with family campers on the summer weekends, that business model is so out of date.
Another HUGE failure with most RV parks is they don't monetize vending machines or they try to sell the wrong items.
DO NOT have a public restroom. ALL campers are required to have their own restroom.
Seven pads will fit perfectly on 0.33 acres. So do the math for your property size and what the city/county will allow.
Monthly renters allow you to earn even MORE money from the same customers by having onsite storage rentals. The odds are very high that someone who lives in a camper is paying for a storage unit somewhere. Be that somewhere.
Install a coin-operated laundromat inside a PORTABLE shed. It can still be nice with drywall, vinyl floor, and LED lights.
The GOAL is to sell everything possible to the monthly renters, lot rent, storage unit, laundromat, drink vending machines, ice vending machine, single bay car wash, propane, fiber speed wifi internet service. You are not just selling an RV lot space, you have to experience the monthly renter lifestyle to understand everything they need to be comfortable.
You need to understand that just because someone lives in an RV all year does not mean they're poor. For example, pipe welders and pipe fitters make $100,000 a year during power plant maintenance shutdowns. So an RV park less than a mile from a power plant that has regular shutdowns is a prime location that can sometimes be in the middle of nowhere which makes the monthly lot renter a captive audience because it's easier to buy supplies like ice propane, car wash, internet, drinks from onsite services than drive miles to a grocery store after working a 12-hour shift. There are forums dedicated to pipe welders and fitters, they will tell you what they need and where they're located for a power plant shutdown. you can even search job websites to find the locations that happen every year. These people have big money to spend. They usually drive $50,000+ diesel trucks with similar camper prices to match. The average pipe welder earns $27 per hour + overtime every day + per diem travel expenses $125 per day. So they have $500 per day to spend and work 7 days a week.
Do the research, figure out who makes money and where they spend it, and then make a backup plan for a second source of lot renters, for example, people who work 20 miles away in a city but can't afford city rent prices.
Multiple smaller RV parks are WAY better than one large RV park. This allows you to keep the RV parks fully rented, for say a 10-unit park. It allows you to fit RV parks into small lots. This makes new parks VERY easy and low-cost to build. This allows to strategically locate RV parks where they are needed, for example, in close proximity to manufacturing or distribution centers for people who make decent money but are trying to save money to buy a house in a couple of years. Know your renter and understand their goals.
wow thank you so much for sharing your experience!
Do you have showers for campers?
Do you have spaces for huge rvs and ample turn around room?
how much did the land cost?
How many acres do you have? How many spaces?
It is very difficult to hear what questions were asked because one microphone is not up in volume.
I think it is Vema's accent.
Good information, for sure. Great video. Constructive criticism to the podcaster/interviewer would be to cut the word "like" out of your vocabulary.
Too many cooks spoil the broth. (Ye olde British version).
"Future homes will be on Wheels!" by: The Benovolent Bob Wells
Check with I.T.H............Randy Jones, Amanda, and ACE!
All scammers.
10-16k a spot is about average.
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