All Forum Posts by: Belinda Lopez

We were working to buy two different RV Parks where the owners were accepting the majority of payments in cash.  They were taking in from $27k  to over $32k each month in cash!  Huge security issue and they had to be on-site during rent collection each month. No idea where they were storing all the money but they were not putting it into the banks b/c their books did not show that amount of revenue. They didn't understand why we couldn't just take their word for the amounts and I even was invited to watch the collection process to verify the income.  The problem was that without CPA approved books, we could only value the properties based on actual reported income that was traceable.  So while it was great for them to be receiving all that cash, it really hurt them at sales time.  

We're looking at some kiosk/drop safe options for a park we're buying that would allow guests to pay on-site.  Folks could still pay cash but it would be like an ATM that verified the cash, recorded video of the person and issues a receipt.

You should join your local Real Estate Investors Assciation (REIA) like the RICH Club. There you can network with other local investors, get their recommendations, build your entire investing team so you have them ready when you need them. Good luck!

Hi Tierra,

  Building an RV Park can be a daunting process.  From nosey neighbors to state & local regulations that might even make it impossible.   I think your business plan might be too long for most investors.  They want the big picture to be able to make their decision, then a longer plan with details would be next.  Focus on the Executive Summary and be ready to back it up with your research.

What are the rules for existing and new RV Parks in your state and local jurisdictions? What are the drainage requirements?  How much would a topographic survey cost? How dense will they allow development? Have you toured RV Parks in your area?  There might be a Real Estate Investing Association or Owners Group where you can find some good local resources to help you.

It can take up to two years or longer from design to cash flow - can you weather that time? It might make sense to partner with a more experienced operator to help you. I'm not trying to discourage you, just the opposite - I think an RV Park is the best ROI out there! Just do your due diligence, make smart decisions and you'll be cash flowing in no time!

Good luck!

2914 Ave K, Galveston, TX 77550

Sales price: $430k

ARV: $525k

Repairs: none

5 units with a nice mix of long-term renters and 1 vacation rental. Plenty of room to improve the cashflow on this property. All units now rented with no repairs needed.

Turnkey property with a large 4-1 house, a 1-1, two 2-1's, and 1 studio vacation rental. House rent = $1700, 1 Br = $750, 2-1's = $800 and studio averages 500-700/month. Currently at 7.5% cap rate but can easily be managed to a 10% or more ROI.

https://photos.app.goo.gl/tuQ5RTu1WK9olccB2

Call 409-209-2747 for more info.

https://goo.gl/BUrw7g

Don’t miss this upcoming transformational workshop to jumpstart your real estate investing. Let by superstar investor and mentor, Linda Muscarello, this event will help set you on your path to financial freedom.

Houston is the hottest market in the country right now!  With thousands of new residents moving in each month and hundreds of thousands of homes damaged by Hurricane Harvey, the opportunities have never been greater BUT you have to know what you're doing.  Come learn from one of Houston's most experienced and successful investors.

You have a great deal of research to do before even buying the land.  Harris County and the state have strict development rules for RV Parks.  It could take you two years or longer to start cashflowing.  You can leverage your time by partnering with experienced investors who can help you learn all the intricacies building and managing a Park.  A one acre Park may not be large enough bring in enough cash flow to cover operations for some time.  There is a certain economy of scale when building or buying park; developing a Park from scratch is a whole other adventure.  We've seen plenty of good plans never come to fruition because the developers failed to obtain buy in from government (MUD/other utility/city/county/state) AND the neighbors!  Neighbors can stop a development faster than hot lead if they haven't been properly notified and decide they don't want "that kind of development" in their backyard.

Hi Nicole, you should check out some of the local Meetups and investor clubs in the area.  I highly the Realty Investment Club of Houston (RICH).  I'm a bit biased as I'm the President but we have a ton of resources and events for investors.  Welcome to Houston!

@Russ Wallace , I may be person #3!  There are definitely places and situations where developing a park makes sense.  MHPs are one of the highests ROIs in real estate investing.  There is a finite number of existing parks and more and more cities don't want them but they fail to understand the tremendous need for this type of affordable housing.  Not to mention that manufactured home building techniques continue to improve.  

And, yes, I did write an eBook called "So You want to build a MHP".  There is a ton of due diligence you will need to develop a park and it could take two years or longer before you start to see cash flow and returns but for the long-term I think they are a good bet.

Texas only allows 7 homes per acre state wide and there are further limitations on well and septic vs. municipal utilities.  

https://richclub.org/product/post-harvey-crash-course-and-bus-tour-on-house-rehabbing/

Don’t miss this crash course, if you have bought or you are considering buying a storm damaged property, don’t miss this class. Avoid catastrophes that can kill your deal or turn a great deal BAD!

Facilitators will be licensed Inspector Kevin Smith and veteran rehabber Tselane Shephard of the Rehab Lab.

You will learn:

• The nuts and bolts of how to evaluate and view these damaged houses.

• Key repairs needed to bring a flood or storm damage home back to market condition for both re-sale or as a buy and hold for your portfolio.

• Working with contractors in the current hyper busy market.

Several great investor friendly ones that are vendors at the R.I.C.H. Club:

El Dorado Insurance 

Benchmark Insurance 

and for anything in Galveston, Melissa at Henry Freudenberg's  Office