Building a RV Park and convenience store

Mobile Home Park Investing
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Building a RV Park and convenience store

Jaquita Perkins
West Plains, MO · Member since 2017 · 14 posts · 8 votes

Hi, my husband and I have got into the mobile home park business, and have been so interested in Brandon's park venture.

Anyway, we bought our first park of 39 lots, only half occupied, last May.  Then just 6 weeks later we purchased our second park located just 3-400 yards away which has 45 lots with 75% occupied, but mostly park owned.  We have added 5 mobile homes so far and our goal is to add 5 more each year. So we are getting lined out okay now.

There is another Mobile home park, larger, just across the road.  

My question:  we have found 12 acres wooded land next door for sale.  We feel a RV park would do wonderful there, since there is only one other RV park in town charging $350/month/lot and it is full.  This land is in city limits, so it has city water and sewer!  I'm looking for anyone who has experience in building a RV park.

In addition, we also believe a convenience store would do great there too.  This location is within short walking distance of 3 mobile home parks and would be on same property of the "would be" RV park.

Just reaching out for information, experience and thoughts.

Thank you,

Jaquita

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Ryan Groene
Specialist · Cleveland, OH · Member since 2016 · 186 posts · 173 votes
8y

RV parks are along the same lines of a Mobile home park, but the tenants that come to truly RV parks, depending on where you are in the country are normally a little different tenants than RV tenants that park in a MHP.  Normally they have a little more disposable income and look for more things to do in the RV park beside just a cheap place to park...it also depends on what part of the country your in as well.

developments of rv parks can work, and are cheaper because you don't need to bring in a home. just a little more management intensive because a lot of customers pay in cash and there short term.  they do work well though and can make just as much money/returns as MHP's

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  • Marc Biviano
    Marshfield, MA · Member since 2015 · 15 posts · 8 votes
    8y
    Hi Jaquita Perkins I can't add anything about the build out of an RV park. I'm assuming that you got into mobile home parks with the goal of filling all of your lots and getting your tenants to own their own homes. This will create more time for yourself and your husband and create a more passive income. Were you planning on owning and operating the convenient store? Retail businesses especially convenient stores are 24/7. They require a lot of time. If you are looking to hire a manager to run the operation for you that requires a lot of trust. Many problems can come up. You might want to find someone locally that would want to open a convenient store and run it themselves where you would just collect rent. Good luck!
    1Reply
  • Ryan Groene
    Specialist · Cleveland, OH · Member since 2016 · 186 posts · 173 votes
    8y

    RV parks are along the same lines of a Mobile home park, but the tenants that come to truly RV parks, depending on where you are in the country are normally a little different tenants than RV tenants that park in a MHP.  Normally they have a little more disposable income and look for more things to do in the RV park beside just a cheap place to park...it also depends on what part of the country your in as well.

    developments of rv parks can work, and are cheaper because you don't need to bring in a home. just a little more management intensive because a lot of customers pay in cash and there short term.  they do work well though and can make just as much money/returns as MHP's

    4Reply
  • Jaquita Perkins
    OP
    West Plains, MO · Member since 2017 · 14 posts · 8 votes
    8y

    Marc Biviano, we are working on filling our parks.  We have added 5 homes in the past 6 months.  So that is definitely our goal, and gradually get a full time manager where we are more hands off and purely passive income.

    We are in the Midwest, southern MO.

    And the same goes for the RV park and store if that comes about, to get it going, then gradually hand it off to managers.

    Thank you so much for your suggestions, we will definitely look into those that could rent it and run it, therefore completely passive.

    1Reply
  • Jaquita Perkins
    OP
    West Plains, MO · Member since 2017 · 14 posts · 8 votes
    8y

    @Ryan Groene 

    We are located in very southern part of Missouri. 

    I feel more confident in the RV park because I see the need in our area.

    The convenient store is more questionable to me, due to expense of building it, and the limited customer base, which is 3 mobile home parks right next door with total lots at approx. 175 when parks are full.

    Our thoughts are from just the 3 parks tenants buying cigarettes, liquor and snacks, that would add to the RV customers, but not much other traffic coming in, would it be possibly enough customer base, but that's our question, if that will be enough.

    1Reply
  • Jocelyn Hinz
    Investor · Dallas, TX · Member since 2014 · 31 posts · 8 votes
    8y

    Jaquita I’m very interested to see how this goes for you! My husband and I are exploring building an RV Park on some land we have, the numbers are amazing. Would love to chat. 

    1Reply
  • Matthew Paul
    Severna Park, MD · Member since 2013 · 7k+ posts · 7k+ votes
    8y

    Rv parks dont charge by the month , they bill by the night . if you are going to rent monthly , its basically a mobile home park .   Unless you are near an tourist attraction I would build as a mobile home park , and if someone with an rv need a place for a month , rent them a space .  

    1Reply
  • Gil Flmeinga
    Fresno, CA · Member since 2011 · 17 posts · 5 votes
    8y

    Im enjoying this post.  Where do I go to get basic education in buying and running an RV park?

    1Reply
  • Gil Flmeinga
    Fresno, CA · Member since 2011 · 17 posts · 5 votes
    8y

    Is this the training to buy if I want to learn how to invest in an RV park?

    https://www.rvparkuniversity.com/rv-park-investment-books-and-courses/rv-park-home-study-course.php

    0Reply
  • Chad C.
    Denham Springs, LA · Member since 2015 · 133 posts · 35 votes
    8y
    Why only five homes a year? It seems like that would be your main priority to maximize the space that you have, maximize your returns.
    0Reply
  • Hai Loc
    Specialist · Toronto, Ontario · Member since 2012 · 2k+ posts · 891 votes
    8y

    adding to what @Marc Biviano said you need to trust who is running the park/convenient store. You don't want to be creating a job for yourselves. Make sure you have a solid plan in place almost like a value add approach and reap the rewards when implemented. 

    0Reply
  • Kevin B.
    Investor · Humble, TX · Member since 2014 · 5 posts · 1 vote
    7y
    @Jaquita Perkins you are doing exactly what I want to be doing! I own a few parks here in Houston but I plan on expanding everything and making it all more passive. Then with in the next ten years I want to move to NW Arkansas or SW Missouri. For a few years now I've been visiting family in Sulpher Springs, Eureka Springs, and Branson. Such beautiful country up there! If you have public water and sewer you are off to a good start. Find a PE that can design the park layout and stamp the prints. He should be able to help you with budgetary numbers on the build.
    0Reply
  • Anthony Minniti
    Tyler, TX · Member since 2019 · 6 posts · 0 votes
    5y

    @Jaquita Perkins

    Hey Jaquita,

    Update on the park? How did it go?

    0Reply
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