Updated over 8 years ago on . Most recent reply
RV park business creatively financed
I'm Looking at a campground, RV park, mini storage business close to where we live. They're asking $800K. I feel like this business would cash flow at a worse case $40K annually (with headroom for increases) even with paid management. Financing is going to be the issue. We own 2 (4 units) duplexes worth about $200k outright. We own our home, worth about $250K outright. We have no debt of any kind. We would like to buy this park with as little out of pocket ($0 to $50K) as possible.
Would you do this deal? How would you finance it? Opinions please.