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All Forum Posts by: Lacy Langley

Lacy Langley has started 4 posts and replied 14 times.

Post: Renting out an RV for profit?

Lacy LangleyPosted
  • Springdale, AR
  • Posts 14
  • Votes 6

I forgot to mention, we did list it on Outdoorsy, it was super easy to use!  But, we haven't had any inquiries from them yet, so I can't say much about it. 

Post: Renting out an RV for profit?

Lacy LangleyPosted
  • Springdale, AR
  • Posts 14
  • Votes 6

I just bought a travel trailer because:

1. We wanted one and have had a couple before and have always enjoyed them.

2. I was curious about the same thing. 

We just started last week and haven't had anyone pick it up yet, so I can't speak to that. 

What I can attest to is RV share as a platform. It's awesome. They take 25%, I think that decreases as you go maybe, but that money provides so much guidance, rental checklists, ID verification, records of transactions and conversations, and even insurance for you and your renter. We just listed last Thursday and we have had several inquiries and one booking. 

It works a lot like vrbo or airbnb in the reservation system itself, calculating taxes, fees, and damage deposits. You can customize with your own preferences as fast as age limits, payment options and whether or not to offer delivery and set up for an extra fee.

With just the one weekend rental we have so far, we'll cover the payment and storage cost. 

And, I'm confident most of these and any new inquiries will convert to bookings in September. If we just have weekends booked, that will net us about $1000 profit for September.

My only regret is not doing this in the spring. I have been wanting to get into STRs, but just can't financially pull the trigger yet. I saw this as a good learning tool for the hospitality industry, so perhaps I'll be better prepared when we can commit to buying an STR. And I plan to use at least some of the profit to save for the down payment.

Some tips:

Get a smaller, lighter camper with as much sleeping capacity as possible. One of the reasons we bought brand new is the new use of Murphy queen beds being used in the new models. This is genius. You get max sleeping capacity and max floor space at the same time.

Get a family-friendly bunk house model. I really took our boring RV rental and turned it into the "ultimate family reconnect" experience.  I included cozy bedding, cards and board games for all ages, outdoor chairs, marshmallow roasting sticks, as well as a welcome pack including a variety of hot drinks and s'mores ingredients for the cooler nights, which will be coming next month. 

I also decked it out with nice bedding, extra hooks for hanging towels, robes, jackets, etc. and even hung some small pictures with industrial-strength velcro. Which means I can switch out these small, cheap and out of the way touches of home (like $6-$12 at hobby lobby) with the seasons. 

Of course, we also spent about $200 loading it with cheap plastic dishes, silverware, utensils, a few pots and pans, and a cheap baking pan set. Also towels and those decorative touches. 

In the cargo area, we put a tub with beach/lake towels and a couple of small,  blow-up floaties. We live near several lakes. 

I have high hopes for the fun venture and it seems to be off to a good start! But, if it all goes to pot, we still have an awesome camper:)

@Michael Kugler, Thanks for the advice! I will check out Indian Point! 

@Michael Kugler, we have narrowed it down to a couple of resorts over by Table Rock lake, Fall River and Pointe Royale, I believe. We will be coming to look at a few that we've found online hopefully next weekend. 

@Jon Crosby, I will definitely check out those articles and thanks for the inspiration!

Post: New Member- Bentonville, AR

Lacy LangleyPosted
  • Springdale, AR
  • Posts 14
  • Votes 6

Good morning! I have been reading these forums for a while and realized I have never done my new member intro. My name is Lacy Langley and I live with my husband, two children, and two goldendoodles in Bentonville, AR. 

I have had my real estate license for two years, but have decided that buying and selling residential is just not my thing. We have saved some money and are looking into diving into the short-term vacation rental business! This is just what turns my gears. I am so looking forward to getting started! 

We will be starting off with a self-managed condo in Branson, Mo. If all goes well, we'll add another! Down the road we hope to add a few more in other places. Perhaps a retirement abode that others help pay off! 

I love reading these forums and have greatly enjoyed all of the advice and information out there! What a great community! I look forward to being a part of it. 

Lacy

Hello investors! I am getting ready to purchase a vacation rental in Branson, Mo. I am excited to get started and would love to hear your success story for inspiration and for others who are thinking about it or wondering if it's worth it! 

I have heard plenty of warnings and tips for difficult situations, but the time to entertain fear about what could happen has passed. I would love to be inspired by the possibilities of what could be! Brag away! I don't mind :) Thanks! 

Lacy

Don't have any stories to add, but following for my own amusement:).

I thought about putting a camper on it, but that seemed like a lot of work. I was just going to rent the site out. It looks like the resort has management in place and I'm sure they take a large piece. However, it would be an incredibly passive endeavour with no turn over action needed. 

Has anyone ever bought an RV lot at a resort to rent out nightly or weekly? I am curious if it is worth the investment. This is, admittedly, a half-baked idea. However, it seems like in the right situation, it could possibly pay off.  I am looking at possibly buying a lot for around 25k-30k at a popular lakeside resort near Branson, Mo. The lots rent out for $60-$90 per night, which is pricey, but they have tons of amenities like clubhouse, pool, minigolf, boat storage and ramp, social events, etc, and cater to a high-end RV crowd. No tents, canvas/hybrids, or anything shorter than 27'. 

Any experience to share? 

Post: Nightly Rentals in Branson, MO

Lacy LangleyPosted
  • Springdale, AR
  • Posts 14
  • Votes 6

Great! I will look into the restrictions. I know a lot of condos on the market right now are claiming, "Great for nightly rental!", so I was assuming. But you know what they say about that! I certainly don't want to get caught in a battle with the city. 

Thanks for the info!