How To Invest In RV Parks ( To A $30M Portfolio! ) w/ Heather Blankenship
Dec 12, 2023
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Guest Heather Blankenship, expert in RV park investing and real estate, shares insights on choosing the right property size, exit strategies, expanding the park, diversification, private money lending, and starting early for financial freedom in real estate investing.
When starting out in RV park or mobile home park investing, it is recommended to focus on smaller properties with room for expansion.
Consider your exit strategy when purchasing a property, especially if you plan to sell to institutions in the future.
Diversification in real estate investing can provide stability and resilience, especially in different sectors like tourism and affordable housing.
Deep dives
The Potential of RV Parks and Campsites as Profitable Investments
Heather Blankenship, an experienced investor in RV parks and campsites, shares her journey from initially knowing nothing about the industry to building a $30 million real estate portfolio. Heather emphasizes the unique advantages of RV parks as an investment, highlighting their ability to generate both cash flow and appreciation. She explains how the various streams of revenue, such as nightly site income, glamping, and on-site stores, contribute to the financial success of RV parks. Heather also discusses the importance of diligent analysis when evaluating potential deals, considering factors like utilities, zoning and permitting, and expansion possibilities. She provides insights on financing options, including seller financing and commercial loans, and offers valuable tips for navigating the RV park investment landscape. Overall, Heather's expertise and practical advice showcase the potential for RV parks and campsites to provide long-term financial benefits.
Maximizing RV Park Profitability through Dynamic Pricing and Occupancy Optimization
Heather Blankenship stresses the importance of utilizing advanced software systems, like CampSpot, to optimize revenue and streamline operations in RV parks. She explains how dynamic pricing can significantly enhance income by adjusting pricing based on demand. Additionally, Heather emphasizes the importance of occupancy optimization, utilizing software to strategically assign guests to specific sites, maximizing booking potential. Heather highlights the impact of technology and data-driven decision-making on the financial success of RV parks. By implementing these tools, RV park owners can greatly improve their profitability with minimal effort.
Factors to Consider in Buying and Evaluating RV Parks
Heather Blankenship provides valuable insights into the key considerations when buying and evaluating RV parks. She advises investors to thoroughly analyze profit and loss statements, identifying any red flags or potential issues such as irregular expenses or inaccurate records. Heather emphasizes the significance of utility systems, highlighting the potential risks and costs associated with non-standard utilities like lift stations and wastewater treatment plants. Zoning and permitting are also crucial factors to ensure compliance and avoid legal complications. Additionally, Heather discusses the optimal balance between park size and expansion potential, highlighting the need for strategic planning when considering future business growth and exit strategies. Her expertise and guidance provide valuable information for investors entering the RV park market.
The Financial Benefits and Diversification Opportunities of RV Parks
Heather Blankenship emphasizes the financial benefits and diversification opportunities of investing in RV parks. She shares her own experience in building a portfolio that includes RV parks, mobile home parks, and section 8 multifamily properties. Heather highlights the strong cash flow potential of RV parks, particularly in combination with appreciation. She discusses the advantages of diversifying within the tourism industry and the affordable housing market. Additionally, she mentions her interest in exploring private money lending as a passive investment avenue while managing the demands of her growing family. Heather's story and insights exemplify the potential for financial success and flexibility through diversified investments in the real estate industry.
Considerations for Financing and Scaling RV Park Investments
Heather Blankenship provides guidance on financing and scaling RV park investments. She emphasizes the benefits of seller financing and the need to present compelling offers to sellers, highlighting the advantages of such arrangements for both parties. Heather also discusses traditional commercial loans, outlining typical down payment requirements of 25% to 30%. She advises investors to consider partnerships or equity arrangements when lacking the necessary balance sheet to secure loans. Heather touches on the importance of networking within the industry to access funding sources and opportunities. Finally, she mentions her future plans of leveraging her accumulated equity and exploring private money lending. Her insights provide valuable information for investors looking to finance and scale their RV park portfolios effectively.
Did you know you can make Millions from RV Parks? Now ya do! Today we host Heather Blankenship (@heatherblankenshipx3) and cover topics such as choosing the right property size, considering exit strategies, expanding the park, diversification, private money lending, and the benefits of starting early in real estate investing. Heather shares her insights and experiences in these areas, providing valuable advice for beginners in the industry.
Takeaways
When starting out in RV park or mobile home park investing, it is recommended to focus on smaller properties with room for expansion.
Consider your exit strategy when purchasing a property, especially if you plan to sell to institutions in the future.
The average rule of thumb for RV parks is 10 sites per acre, so it's important to consider the potential for growth when evaluating a property.
Diversification in real estate investing can provide stability and resilience, especially in different sectors like tourism and affordable housing.
Private money lending can be a passive investment strategy for generating additional income while managing other responsibilities.
Starting early in real estate investing can provide the flexibility and financial freedom to pursue personal goals and priorities.
To learn more about Heather and her work in RV parks and mobile home parks, visit her Instagram profile @HeatherBlankenshipX3 or her website at HeatherBlankenship.com.
Chapters
00:00 Choosing the Right Property Size
41:04 Considering Exit Strategy
42:00 Expanding the Park
43:22 Diversification and Future Plans
44:36 Private Money Lending
45:58 Reflection on Starting Early
46:07 Where to Find More Information
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