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Updated over 6 years ago on . Most recent reply

Need advice for a rv park purchase
I lived in this rv park for 4 yrs and I became good friends with the owner and playing around I told him to sell me his 45 spot rv park and he said he would sell it to me for 750k.
This rv park is one of the most popular rv parks in the region. It has the best public schools, its next to a dollar general on one side and a 20 pump gas station on the next. It's been open for 5 yrs and hes had 100% booked spots it's very rare to find a spot here I got my spot on a addison he was doing and patiently waited till it became available.
He rents the spots for 500 all inclusive and of that 100 a spot is spent on expenses. Neting 18000 a month.
I need adevice on analyzing and also financing the property. Thanks
Most Popular Reply

@Belinda Lopez Thanks for weighing in, I dont think hes reported all the gross coming. But living there I do know there is 45 spots and they go for 500 and staying there for 4 yrs when I moved here I never saw a open spor available, it's on a prime spot.
I think he is selling because hes 75 years old and is not in the best of health and wants to sail off with some bank.
I'll ask him if hell consider a owner finance. I do have about 150k to put down. Thanks again