Need Advice!


#1

hi all…we have a contract on an rv park in East Texas and here is story. The park has a natural spring on it, it is 100 acres with ten finger lakes and a large swimming lake with 60 rv sites and 100 camsites with electric and water and also 16 cabins, a 2005 38’ RV and 1998 32’RV and three bedroom. two bath triple wide on private island.The park grosses (last year) $540,000 because of a FEMA contract. Normal year the park grosses between $380K and $400K. Net is around $200K. they were asking $2 million and they dropped down to $1.75 and after we did all the due diligence and reviewed tax return, we negotiated a price of $1.275. after we close the park…we think we’ll put some use mobile home there and rent to winter Texan. What is thought about this deal in general? We were originally buying a mobile home park in Florida, but now switch to a RV park. What is the difference in running these? The busy season is the summer, Which is odd for east/south Texas. Any idea about catching winter Texan business? Thanks alot for your input!..Happy New Year!!!