What would you do? Bought RV because of Harvey.

[Brenda Logan]

We got flooded from Harvey and bought a brand new 2018 RV to live in for 9 months.  They are like cars and lose value the minute you take them off the lot but we were desperate.  We owe $27k on it.  We could put it on a consignment lot but they won't even give us an estimate of how much it could bring unless we haul it down there.  We don't really have means to do this without paying someone to move it.  I know that route we will lose money and have to pay the difference in the loan.

Second idea. There are some lots down in Galveston right across from the beach and on a canal that you can buy so I thought about purchasing on of those and putting the RV there and then selling the whole thing lot and RV. But some of those have been on the market for a while. I was told they don't really allow STR in that subdivision so I wouldn't be comfortable doing that while I wait for a buyer so it might just sit for a while til we could sell it outright.

Other option is to take a big down payment and owner finance the RV and lot.  We are getting some money from a building we had owner financed to someone that the county is purchasing for roadway.  At the very least break even?

My concern is tying that money up on that property but having had a taste of the interest we were getting on the previous building was sweet.  

I am open to any other ideas or finessing of these.

Thanks,

Brenda