Heather Blankenship was on a road trip from Florida to California, stopping at RV parks and campsites in between driving. She saw how busy these parks were and thought it would be interesting to own one. On her way back to the east coast, she ended up buying a campground in Tennessee for over three million dollars. She had no experience, no team, and no money. Now, that campground is worth over thirteen million dollars!
Although Heather was just 26 at the time, she was able to quickly adapt to the learning curve that the campground presented her. She grew her knowledge and skill set and now oversees around thirty million dollars in RV parks and campgrounds.
We talk about the many different streams of income that a campground or RV park owner can cash in on, how to score financing when buying commercial properties, what to look for in your due diligence phase, and how to underwrite these massive deals. For beginner investors, this can seem like a huge task, but Heather proves that even with no experience, you can put in the work to make massive financial leaps like she did.
In This Episode We Cover
The benefits of owning a campground or RV park
How commercial real estate differs from residential real estate
Financing big deals through bank loans and seller financing
Looking for commercial BRRRRs and value-add opportunities
Long-term parks vs. short-term parks and the benefits of both
Developing systems that leave you less reliant on third-party businesses
And So Much More!
Links from the Show
Real Estate Rookie Youtube
Ashley's Instagram
Tony's Instagram
Real Estate Rookie Facebook Group
BiggerPockets Calculator
Rookie Podcast 100: Why Brandon Turner Encourages Rookies to “Start Small and Scale”
Rookie Podcast 101: Campgrounds: The Investment You’ve (Probably) Never Thought About
Google Ads
Biggerpockets
ARVC
Campspot Software
Airbnb
Vrbo
Slack
Check the full show notes here: https://www.biggerpockets.com/rookie102
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Real Estate Rookie