hello everyone, I’ve been looking at a rv park on lake fork tx here are the details.
24 lots 19 occupied annually leased at 2200 a month ( one of the lots goes for 2500)
one park owned mobile home (in excellent condition)
property includes a 3 bedroom 2 bath house.
well water.
aerobic system.
tenants pay electric 30 and 50 amp breakers.
4 acres of land.
seller says he brought in 66k last year was renting the house and the mobile home for 1k a month the house is now empty.
18k in expenses.
lake fork is a world class bass fishing lake the tenants are all weekenders from Dallas
so the park wont take as much maintenance as most rv parks. every other rv park on the lake is full with a waiting list and rented annually.
24k of revenue was generated from the home and mobile quite a large chunk!
I don’t know anything about RV Parks. Do think there will be tremendous upside over the next 5 years (think self-driving). Wish I knew more about the space.
Do you mean 183/mo? 2200 annually? Are the rents comparable to the other parks in area? Does the park have similar or competing amenities? How old are the power stands? Plumbing? Are the stands combination stands (30Amp, 50Amp and 20Amp) so that you have flexibility on use? Are they drive through or back-in lots? Etc. Do you have WiFi? Are there trees that will damage the RVs? Why does everyone else have a waiting list and he doesn’t? Is the market seasonal? Is that rate for a year-round lot that is only occupied by a certain number of guests for a certain number of months? I would have a lot of questions.