Campground

[Benjamin Haberman]

A friend of a friend recently told me they would be willing to sell their  campground. They would sell it for  $12.5 Million but the deal still works out to be a 5.23% cap rate at $14 Million. Has anyone ever wholesaled a campground?

It's very interesting to me because I've studied campgrounds and I know the value they have is incredible. I can see my self easily finding interested investors. Is there a way to structure a wholesale deal with out having anything out of pocket? I guess what I am trying to say is can you do this with no earnest money?

Thanks for any help.

[Account Closed]

So the NOI is $732,200 at $14,000,000? But the NOI is only $653,750 at $12,500,000. How does that happen?