Posted by Jon-TX on February 12, 2009 at 04:44:38:
Expenses have be more than $11,200 on a 27 space RV park. How much for the park manager? This could be a good deal, but get a good handle on all expenses.
Have you tried the local smaller banks and credit unions for a commercial loan?
Any Ideas on Financing RV Park? - Posted by katie w
Posted by katie w on February 11, 2009 at 16:10:50:
I’m looking at a 27-spc RV Park in N CA (small area of 1,500 ppl) for $295,000. Seller wants out as his wife has Alzheimer’s. He needs $200,000 cash and it currently has an assumable private 1st of $65,000 @ 6.0% $720/mo.
Income: 27 spcs @ $348/mo (3-5 vacant) $100,000
laundry & shower fac 3,000
Expenses: Taxes - $2000
Cable - 2160
w,s & t - 2880 = $7040
Any thoughts on how to structure this? I have excellent credit, but 10 props on my books already - maybe go private? Even at 10-12%, I’d cash flow. I am about a 2-hr drive from this Park. Thank you!