Updated over 6 years ago on .
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LLC question for RV park
I have four lots I want to build an RV park on the water. The guy that has the neighboring lots has contacted me about going in together and making a bigger lot. There are two lots owned by the county that we could get a long term lease beside our lots. This would essentially give us the land from East Galveston bay to the hwy.
Is it possible to structure an LLC just for the RV park and not include the land? My concerns are this. My part is on the water while his is in the middle. I have no problems with trust of the potential partners as of right now. They are good honest people I have known for years. It's if they ever sell their part I don't want my water front property to be fractionalized by someone else.
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Have you looked into the restrictions for RV Parks in Galveston and Galveston county? There are many including a 5 acre minimum for park development. Structuring this would like any other real estate venture you can use LLPs, LLCs, trusts, combinations of all of the above. You definitely want an operating agreement with the partners and it sounds like an LLP to hold the land will work with another LLC to manage the property. The managing entity does not own any property or assets.