RV Park - Texas - Permian Basin - Good Long-Term Investment?
Hi BP World,
I came across an interesting deal that I wanted some advice on. Mainly for those involved in RV parks in Texas. The RV park is located in Permian Basin where there is currently a ton of activity. The RV park is listed at a decent price which would come with it a decent sized loan amount. The finances look great with a 100% occupancy since 2017.
At first I thought this was a slam dunk gem. But, as I do more due diligence I have concerns about how long/sustainable the RV park will be. My questions are the following:
- Do oil worker jobs go through cycles or are they stable for 10+ years once a good site like the Permian Basin is found.
- Could it be possible that 5 years down the road all jobs could be dried up because the market for oil just isn't doing well.
- Is anyone familiar with the Permian Basin area and has a rough idea of when/if jobs are sustainable for years to come.
Obviously the main concern here is getting involved into a large loan, jobs drying out, and my park becoming a deserted island.