All Forum Posts by: Brandon Beatty

@Wayman Docks how many units is it?

@Wayman Docks at 275k purchase, what do you think it would appraised for in the current condition?

You could get a local bank to go higher on the leverage if your buying it below market value. I’ve had success with it several times.

@Ashley McGregor Hey Ashely!

I am also in Dallas and own several multi family properties. 2-4 units are very competitive when sold on the MLS.

Are you looking to buy something that needs work or something that is move in ready?

@Wayman Docks what is the total loan size?

@Scott Lang When looking at my portfolio, I look at what the cash on cash return for the equity. With the current interest rates, leverage absolutely maximizes cash on cash returns.

@Jessica Gettle Hey Jessica!

We do MF marketing directly to sellers and have success with it. Are you talking to brokers or owners?In my experience, brokers only want to talk to end buyers (can’t blame them.)

If the owners will not provide financials without POF, they likely are not serious about selling.

MF sellers are much different than single family, even if they are motivated. It is a much longer sales cycle as well. The money is in the follow up!

@Robert Gundersen I have been off BP for a while, sorry for the late response. I ended up passing on this deal. The local municipality had only permitted for part of the existing park and there was title issues we couldn’t get cleared up.

@Jason Turgeon The 295K was funds I had intentionally set aside for this deal. The broker that brought me this deal is a good friend of mine. We do direct to seller marketing for these type of deals together. Congrats on your 22 unit deal! Where is it located?

Hey Everyone!

I am looking at purchasing a multi family property that has 3 acres next to it that can be purchased together. I am considering building an RV Park on the 3 acres. There are a few other RV parks in the area that appear to be full most of the time with semi long term tenants. I have the ability to structure the funding to cover to acquisition cost of the land and part of the development costs when combing it with the multi family project I am looking at.

I am familiar with the challenges associated with these parks when dealing with permits and local municipalities. I would like to do as much research as possible to see if I can make the numbers work first. This has been some parks built nearby in recent years so I believe it can be done.

From my research:

-most new development RV parks have 10 spots an acre and some have up to 20 with the right layout

-the cost can range from 10K-25K per spot which seems to be a large range. (I think I can build 30 spots)

Questions:

-what is the biggest reason in the cost variation for those who have done it?

-what type of office / public restroom and shower facility is recommended for this size park?

Any feedback is greatly appreciated!

@Angel Villarreal it sounds like an awesome project!

I am looking at purchasing a multi family property that has some land I can purchase next to it. I am considering going this route as well.

How much land is your park and how many spots per acre do you recommend?

Did you build and office and public restroom on site for residents to use?

Is your park concrete, gravel, or asphalt? Did you compare the costs of other products?