All Forum Posts by: Will G.

I am in the epicenter of the foreclosure crisis, port st lucie fl and a 3/2 that will fetch 900/month is
going to sell in the 65 to 70k range. The upside is a great rental market ie plenty of folks lost homes and credit need rentals.

Often discussed but don't individual markets have a bearing on the Ratio?
What would be the most you would pay for a single family (including rehab and associated costs) for a home that rents for $900/ month? Assuming all cash deal

Government Considers Ways to Rent Foreclosed Homes

Government Plans To Rent Out Foreclosed Homes

Hi all,
I wanted to post an update to my investigation into the asset class of RV Parks. So here are some random thoughts on the subject. It seems that most owners will sell if the Opportunnity arises, because the active management role seems to take quite a toll on people who own these Parks. I spoke to a couple who owned a park near Yellowstone which was very busy for five months of the year, and they got burned out very quickly although the park itself was a big moneymaker. I have also visited a few Parks that were mainly made up of long-term tenants, which seems to be the ideal situation. One in particular which was located near a sun city type of retirement community really defined what I would consider to be the perfect situation. This was a nice park around 70 spaces, well taken care of, all of the tenant's RVS were in good condition and the entire park presented well. There were also no vacancies and a waiting list to get in. The owner was absentee and the park was managed by a resident.
Apparently the industry standard is approximately eight and ½ times the net for a purchase price, with premier destination Parks commanding up to 11 times the net.
Every one is now betting on higher oil prices which will provide a headwind to this industry, especially the roadside stopover type Parks and those that are away from attractions and amenities. I certainly feel hesitant about investing now because higher gas prices will eat into most Parks profits, which will in theory lower the potential sale price of these assets. Most all of the owners I've spoken to insist that they need more cabins as opposed to more RV sites,as folks Taking vacations and camping instead of perhaps staying in hotels, so providing an option in between tent camping and a full blown hotel room seems to be a growing trend. Many of these Parks also operate with a mobile home component, especially those in Florida, and the mobile home park industry is having trouble with bank financing on new or used mobile homes. Having a base of Mobil Homes that are not owned seems like a good thing although when you look at reviews people who are there a short time complain about this aspect.
I guess that's enough for now ,comments are appreciated

Diana,
I keep hearing how important storage is going to be as oil certainly goes to $100. also most parks I have looked at insist they need more cabins and can't keep up w/ demand for them, perhaps another factor affected by higher gas prices. I am currently looking for an rv park and would love to hear about your progress

Thanks Rich,
I too have tried foreclosures and here in austin thay simply are NOT good deals. The few that are really discounted are under contract before they hit the mls. It sounds like you are promoting a wait and see approach for commercial, so you think we havent seen all the deleveraging then?

Thank you all for the reply's
I need to backtrack a little here...
I am not in love with the idea of running an rv park, it just seemed a viable solution to my current situation, as I am trying to establish an income with this investment. I am currently in Austin tx and rent to sell prices for sfr's are inverted badly, ie no chance to cash flow a sfr in my area. I keep reading about the trouble the commercial market is expecting and assume not a good time to look there. Multi family properties don't comeup very often, and the storagebuilding market is one of the most overbuilt in the country. Soooooo I thought this might be the only way left. What am I missing? Rich, I would love to hear your take, it seems you have had every type of invest property there is

Troy,
Do you have any insight on the treasure coast ie, the stuart, hobe sound, and psl areas as far as rental properties?

I am in austin and know this market. If any happen to be around here I can help you determine if any are worthy( and I am not a realtor)