Real Estate Rookie 101: Campgrounds: The Investment You've (Probably) Never Thought About
As a successful real estate investor, you may be looking for bigger and better deals to take on, but sometimes those deals may come in a different shape and size. Kier Vogt had mastered buy-and-hold rentals, house hacking, and flipping. She wanted to take on a bigger challenge, something that would give her more responsibility with even more upside. After taking a cross-country drive, she found the asset class she was looking for: RV parks and campgrounds.
If you’re a rookie investor, you may have never thought about investing in an RV park or campground, but there are some serious benefits to them. Since these are commercial properties, your ability to obtain seller financing is far more likely and you can build out multiple streams of income from one property, as opposed to solely collecting rent.
Now, Kier is in the stage of analysis. She already has a private-money lender, but has to find a deal that fits her purchasing power and her criteria. Kier shares the mindset behind going into this completely new asset class, and how you have to push through fear to cold call owners, send in offers, and finally get an RV park or campground under contract.
In This Episode We Cover
The difference between RV parks, campgrounds, and mobile home parks
Analyzing larger commercial deals and performing due diligence
The benefits of seller financing compared to bank financing
Submitting a letter of intent (even if you’re scared to do so)
Self-managing a property to learn about the business
The many different revenue streams an RV park or campground can offer
And So Much More!
Links from the Show
Real Estate Rookie Facebook Group
Check the full show notes here: https://www.biggerpockets.com/rookie101
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