Financing from Credit Union for RV Park

[Paul Crutcher]

Has anyone tried to get financing from a credit union for building an RV park on a residential property?

I'm currently looking at a property that's been on the market for half a year. It's a long and slender property which is perfect for a single street and RV spots. It's already below market value, but I think I can get it even cheaper. 

As far as market viability goes, I need to run the numbers. Since Covid, the closest RV park had 25% or less occupancy for a long time. They're finally up to 50% and the local companies (Dow, Phillips 66, Chevron) are starting to begin large projects. 

The area I'm looking at is super quiet in the county, 45 minutes from previously mentioned companies, 10 minutes from a over sized Kroger's and a great small town. 

I'm currently in communication with the county trying to get an idea if it would even be allowed, then I'll go about building a cost estimate of the build. 

For those who have built RV parks on well and septic, how hard was it? Anything I need to look out for and factor in before pitching this to investors or banks?