1st RV park development
Investment Info:
Mobile home park commercial investment investment in Mentone.
Purchase price: $10,000
Cash invested: $110,000
Purchased a piece of property in a hot booming oilfield area got it developed for 25 rv spots and am collecting average 13750 a month rent.
What made you interested in investing in this type of deal?
I lived in an RV park for 4 years when i left my home in fort worth, tx to come to Pecos, tx i took a quick liking to the business and decided to open up one for myself.
How did you find this deal and how did you negotiate it?
I checked all the local restaurants and stores to see if there was any local people selling land and i got several good leads. finding the leads i put the best negotiator to negotiate for me ,my dad. my dad always surprises me more and more with his cuting at the waist offers that im embarrassed of but 8 out of 10 times it works and in this case it worked.
How did you finance this deal?
cash money all the way on this one
What was the outcome?
Rain was a huge factor in construction that i dident factor in. WATCH THE WEATHER WHEN INSTALLING SEPTIC SYSTEM DRAINFIELDS!!!!!
Lessons learned? Challenges?
Learned a lot on pricing out materials needed and on having the right machine for the job saves precious time and money. i had a back hoe ditching when i should of had a track hoe excavator, yes its more money but it would of saved lots of time