All Forum Posts by: Austin Neal

Crystal Beach on Bolivar Peninsula. I have an RV park there and I'm also a licensed agent. Happy to help if you need it.

@Khizer Husain Local banks are usually your best bet. Find smaller banks near the RV park and tell them what you’re doing.

Seller financing is also common if you find a long time owner who is selling. This is a great way to get your first deal done.

Bigger deals justify a capital markets team who can shop it out to many lenders. Most commercial real estate brokerages have a capital markets group.

@Khizer Husain

If you’re on Twitter, find me @rvparkguy and you’ll see a lot of analysis and tips for how to approach RV parks. I think you’ll find what you’re looking for there.

@Timothy Wade What’s your question?

I might be able to help you. I have an RV park management company here in Texas. DM your phone or email to me and I'll reach out this week. Thanks!

@Kyle Fadness I’m originally from Houston, so I looked up your listing. You living in the garage apartment would be much more acceptable in the Heights or Midtown. I don’t think tenants are ready for this kind of arrangement in the Houston suburbs. I see you’ve priced it below comps, but you may have to discount it further as others have said. I found $1,600-$1,800/mth to be the right price in numerous Houston suburbs.

@Katie Morneau I’ll share what I know.

RV parks are assessed like all commercial real estate, so understanding cap rates is important. However, there are many nuances to assessing value, so cap rates won’t tell you enough to guide your decisions.

Funding RV parks can typically be done with bank debt. If you buy a nice, large park, then that opens up more debt options. Owner financing is also fairly common in this market, which is a huge advantage in my opinion.

Earning the trust of investors in commercial real estate often takes time and track record. A typical deal might be structured with a 6-10% preferred return and 20-40% carried interest. Again, there are many nuances to structuring deals and you would be wise to have a savvy business lawyer help with structuring.

I know this response lacks detail, so let me know where your questions are leading and I’ll share more details.

@Laura Tokgozoglu Good questions for self-discovery. Hopefully you’ll work through these to formulate your own views. I know this is an odd response (vs my opinion on the subject), but these are questions that lead to some valuable investment approaches.

@Gordon Park All rallies cancelled their springtime plans. That’s a big hit. We’ve also had net negative nightly business with more cancellations than bookings. People are still booking nightly, but not at the pace of cancellations. Our monthly business is in ultra high demand and that appears to be what will carry us through. I decided years ago to buy parks that benefit from both jobs and tourism, not just one or the other. That was a good move.

@Joshua Carl DM me your contact info. I’ll get you set up with one.