Looking for RV Park Financing

[Trevor Fulkerson]

My partner and I currently have an RV Park under contract at $590k. It has really great cashflow (even at a lower occupancy) and a lot of upside.

This is my first RV Park deal, and so I’m looking for advice or referrals as far as financing.

I’ve looked into SBA but I think it will take too long (and I’m not sure that the seller has all the documents needed anyway).

I’m open to private or hard money, or bridge financing, as we can support a higher interest rate for a while while we continue to stabilize the park and then refinance.

Any thoughts?

[Brandon Hobbs]

@Trevor Fulkerson  

Do the sellers have debt on it now?  If yes and they have performed during the length of their ownership, I would start with the bank who has the existing mortgage.  We have always had good luck with that approach, especially with smaller town mom n' pop deals.  If it has been a "quiet" loan for the existing bank, they will likely want to keep it.  If not, and you need to get a new lender, there are a ton of folks here on BP.  Also check out Private Lender Link (www.privatelenderlink.com).