Originally posted by @Nik Moushon:
@Dante Fortson
No kids?! No pets?! Do you even camp? Do you even know what the demographics of campers is? Whatever you do DO NOT have it for adults only. You just killed 75% of your client base. And even if you find a decent base for adults with no kids....75% of those adults have pets. You will fail in less than 5 years if you do. I don't care how many selfie spots you have. You will never have enough clients to meet your cash flow need. The amount of capital needed to put in a campground is ENORMOUS! There are so many infrastructure costs that I know you have not considered.
The one absolutely horrible thing about Youtube stars are they know how to make a quick buck selling an idea based on a single model and then everyone and their dog thinks its easy to just expand the scale from a single glamping yurt to an entire campground of yurts and just watch the money fall from the sky.
I'm not trying to crush your dream here but it is very clear you did not do a proper pro-forma before you bought that lot. You are going to be in for a rude awakening on the amount of money that is required here and I'm not talking about your total loan amount. I'm talking about the shear amount of cash needed. I hope you have either a super rich uncle or are planning on having multiple partners.
I guess I'll address this in points.
1) It's a GLAMPGROUND not a campground. It's also 1 hour from Vegas... and you obviously have no clue that its a tourist capital. Tons of locals like to get away without their kids. Almost everything in Vegas is anti kid and anti pet... and yet business is BOOMING.
Pahrump is far enough away for it to feel like a vacation, but close enough so they can get home in an emergency.
2) Just because you are incapable of succeeding with something like this doesn't mean I am. I've already considered infrastructure costs and already have several investors interested in the idea, which we plan to role out in phases.
3) Campsites make $25 - $50 per spot per night... but Glampsites make $200 - $500 per night. I'm not in this to collect pennies.
4) I have a youtube channel with over 20k subscribers and mailing list built over years with 30k+ subscribers that buy my books, content, etc. I also know other YouTubers willing to promote it.
5) I made a lot of money in crypto over the last year and most of the money that will be put up is my own.
6) I will also be placing 12 Helium (HNT) miners across the property to mine HNT coins 24/7. Estimated income based on our 11 current miners is roughly $5,000+ per month whether we book a single site or not.
7) Our first 18 Glampsites will be fully paid for out of pocket and the land only costs $1700 per month, which I only owe $149k more on. No worries on losing the land and since the first 18 sites will be free and clear... no ongoing loan overhead for those.
8. We plan to rent those 18 spaces out for $200 per night each. Only booking 10 days out of 30 gives us $36,000 per month. $36,000 + $5,000 = $41,000 per month gross. Not counting staff and upkeep... still only $1,700 per month out of pocket until the land is paid off. Also, these first 18 will be on a 6 acre themed section of the land. We'll be using the profits from this section to build the 1 acre wedding venue, which we'll charge $2,500 for 6 hours. Another $25,000 per month if we only book for 10 days.
9) We're going into this assuming our sites will only be booked 1/3 of the time.
We've already calculated landscaping, pools, bathroom, staff, etc. We've worked this out in phases. We know what we'll be adding from Phase 1 til finished. My friends and family are already on board to invest even though I don't usually mix biz and personal.
I also make over 6 figures a year outside of crypto because I have royalties constantly incoming along with other sources of income. The thing you don't know is that I'm big on owning my stuff outright. Real estate I'm willing to buy with loans and let other people pay those loans off for me. What I won't do is take out loans to fund the building of the land, which is why people end up in financial trouble. People are welcome to invest, but I won't borrow.
There's always going to be negative people that think they know what complete strangers are and are not capable of making work. You're one of those people I see. You literally know nothing other than what you've read and think you have the full picture. You don't.
I was asking for advice and saying "this will never work" is not advice at all. If you wanna be helpful, then please feel free. If you just came to be negative I'll pray for you because there is clearly something wrong in your personal life if you jump on here just to spread discouragement based on your in inabilities to make things work.
God bless.