RV park and Storage facility, Valliant OK

[Naor Biringer]

Investment Info:

Other buy & hold investment.

Purchase price: $450,000
Cash invested: $65,000

I bought this RV park and self storage facility in 2021 and turned it to a 90% automated RV park.
Its a great investment and I'm enjoying 8% CAP
I am now investing more in the park, adding a playground and dog park and planted shade trees etc. with the plan to be 100% occupied by the end of this year.

What made you interested in investing in this type of deal?

this was a mom and pop business, but it was fairly new. It was only 4 years old when I bought it.

How did you find this deal and how did you negotiate it?

this was a wholesale deal, I couldn't really negotiate the price. but had to work fast in order to close the deal.

How did you finance this deal?

Local Bank

How did you add value to the deal?

I turned it to fully automated. smart locks, security cameras, using third party company to answer tenants calls and bookings.

Lessons learned? Challenges?

Don't be afraid investing outside your comfort/ nesting zone if the numbers works.
My biggest challenge was the man power and the locals, I came from a totally deferent mentality and I had hard time to find trusted professionals and understand who my tenants are.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I wasnt on this specific deal . I am a REALTOR today.