Updated over 6 years ago on . Most recent reply
Purchasing an RV park
I am interested in purchasing an existing 1 acre RV park in Odessa,TX, where RV spaces are on constant high demand. I have no collateral and have been laid off of work, however I have a signed contract for a job starting in January. My question is regarding the loan type and providing financial information. Would this qualify more for a mortgage loan or small business loan? Since it is a currently occupied RV park that would instantly start generating revenue, could I claim that revenue for income?