All Forum Posts by: Justin Hoggatt

Good luck on getting started and you're in the right place.  By first home in CA, do you mean that to be your first primary residence?  Or, are you thinking that might be your first short term rental?  For your short term rental, I'd want to make sure you have a good staff setup that is able to be flexible.  It requires a good cleaning crew but that can come from a good manager in this space.  I'm confused about your mention that you don't have substantial taxable income - but I'm assuming this means you don't have a good w-2 for a loan?  Besides this aspect, you'll need a sizable down payment, which I hope you're also taking into effect - rental properties require more down payment than primary residences.  Since you've left the door open here for any help, if you have any more specific questions, feel free to search on here or ask away.  Good Luck

Hello Happy Campers!

We are pleased to announce the release of our Executive Summary and the scheduling of our Investor Preview Webinar for this offering. Wildwood RV Village, located in Wildwood, Florida, is an RV campground which we are in the process of closing. We have exciting plans for the future of this property and we believe the opportunity this one offers is great reason for you to consider joining us.  

The investment is a potential offering 506(c) for accredited investors only, however, we do welcome all those interested in attending the webinar to attend.  

You may click for more Information.

For me, it's network better, sooner, and work with people more.  
The ability to work as a team and work with other like minded individuals, really opens the doors to bigger and better things.

A quick chime in - yes, you should avoid it.  Always be friendly, but keep your distance.  There have been plenty of people I would have loved to be friends with after running their applications and them living in our homes, but it's a space that you'll need to keep separate.

I'll throw my two cents in here.  I've been asked to do 2 year leases but nothing ever came of it.  Mostly because I don't want to deal with someone that isn't being good to the property (flexibility).  If you do go with a two year lease, I'd either adjust the rent to be a bit higher for the duration or make an auto adjustment after year 1 to be at least a 3% increase.  

With houses, I've had more success at better tenants and applications come across much stronger.  So, I'd play that into the decision as well.  If they pass with flying colors, it may be best to keep them in there longer.  Apartments, I'd never sign a two year lease.  Not only for me, but for the tenant because the move-out rates are much higher and a tenant shouldn't feel trapped if they want to leave after a year - which I've found is much more likely as well.

I would certainly use less money down if you could.  This, of course, also depends on how good of a deal it is and the return on investment.  

Are they making a direct copy?  Putting a mark on your photos could help.  I've also put in my description the way to apply on our website.  For Craigslist spams, I've also found my posts to work with the inclusion of a statement like "I do not post on Craislist and if found there, do not respond"

Last night was a great start to the week after meeting at Jimmy V's in downtown Raleigh, NC for the Welcome Reception.  The National Association of RV Parks & Campgrounds (ARVC) is having their annual Outdoor Hospitality Conference & Expo (OHCE).  I don't have a huge ask here except to inquire and see if anyone a part of BP may be at the event this week.  If so, I'd like to connect and also hear how your trip is going.  

Have a great and successful week, everyone!

@Raegan Wall - it's so good to see a fellow RV Park investor and we would love to hear of your journey through this process.  Honestly, the BP space isn't a great solution for RV Park investing questions and answers but hopefully we can work together to change that a bit.  We're excited to be in this space and excited to help others passively invest in this asset class as well.

We have done a significant amount of research into the software space. One of our top options is the ResNexus software that we also inherited with our park in IA.  This software also hosts and manages our website for a nominal monthly fee as well.  The software does quite a lot and you can see it from the front end at sleepyhollowia.com.  I'm not positive about the economics for it on a smaller park but there are a quite a few out there that are a per reservation based charge that might work well for your size.  We are also looking into NewBook as well because they look very strong - but it's a solution that looks to be more focused on the bigger picture.

For internet providers, we utilize a local vendor for that if possible, however, if you need another option for more of a remote location, you can surely find some good solutions.  I'd also suggest looking into ARVC for your park as well, as they can also help with paperwork, policies, etc.  

I'd be happy to carry on the the discussion.