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Updated about 7 years ago on . Most recent reply

User Stats

22
Posts
6
Votes
Frank Jones
  • Real Estate Investor
  • Cullman, AL
6
Votes |
22
Posts

RV park business creatively financed

Frank Jones
  • Real Estate Investor
  • Cullman, AL
Posted

I'm Looking at a  campground, RV park, mini storage business close to where we live. They're asking $800K. I feel like this business would cash flow at a worse case $40K annually (with headroom for increases) even with paid management. Financing is going to be the issue. We own 2 (4 units) duplexes worth about $200k outright. We own our home, worth about $250K outright. We have no debt of any kind. We would like to buy this park with as little out of pocket ($0 to $50K) as possible.

Would you do this deal? How would you finance it? Opinions please.

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