How to market and turn RV park

Question

One of my clients owns RV parks.  He said one of his is doing bad (people quit paying), i asked him if he wants me to sell it but since its next to one of his commercial businesses he wont want to.  I want to get knowlege in this space because its something i want to invest in the future, and currently have a RV rental.  Any way i asked him if i can try to fill it up and turn the park around (its small about 20 slots) and he said yea.  I don't believe any marketing is getting done on it right now just visibility of it on a main rd, but what are some tips on turning around a RV park and i guess it would apply to Mobile home parks also.

Roger D Jones · Answer

Luke,

I read your other post on possibly buying into some ownership on this park.  On that regard let me say it 'sounds' like this RV park is in distress with an owner not engaged enough to get the park cleaned up and running clean financially ie non paying residents.  I would not get in bed with this owner as a partner as I get a sense you will be doing all the marketing, infill, cleaning it up work while he will continue to do 'nothing'.  The financial side of that type of deal is usually eventually fraught with turmoil.  Sometimes you have to wait on deals while the seller contemplates or you squirrel up more down payment money.  I would try for owner financing when the time comes also.Unless your park is on a beautiful pristine lake somewhere RV parks are moving to a long term model.  Affordable housing is disappearing and mobile homes in parks are getting very expensive both in cost and pad rent.  More and more people (retirees, working class and professionals are living in RVs.  I have a neurosurgeon, a nurse and a couple engineers living in one of my parks full time.  As I mentioned in your previous post if you want long term tenants in a full park the park has to be a 'home'.  Large lots, green space for a play area, large sheds for extra storage, an outbuilding with a full size washer and dryer, ample room to park a couple cars at each lot, fenced, street lamps at each lot, gated entry for security and privacy, community mail box, etc. etc.  We did these things in one of our long term RV parks (terrible neighborhood, in the City limits, no pristine lakes) and we have a long waiting list of people wanting to move in.  No marketing... the park markets itself.  Don't walk through your park thinking how you are going to market it and improve it.  Go to the other parks in the area and they will guide you on how to do better.  Much better...

Luke Tamez · Answer

@Roger D Jones thanks ! I'll wait for my shot and keep stacking on the side.