Lender on RV and Boat Storage Property

[Tony Perrella]

I will submit an LOI on an RV and Boat Storage Property in the next few weeks. To complete by underwriting process, I need to understand better the loan terms I can get on this type of investment/property. What kind of a lender creates loans for this type of property? Do you have any other advice when approaching a lender? How should I go about finding a lender?

[Jayson Cain]

Hi Tony,

We have an RV + Boat Storage near Branson, MO. I spoke with national and local lenders and I found that the local ones will have more flexibility and generally better terms.  Local CU or Regional Banks should be able to help you. 

Questions you should ask besides loan terms:

-How many RV/Boat Storage properties do you currently have in your portfolio?
-What do you base the LTV on?