Is buying an RV lot a good investment?
Hi My wife and I just took a month long trip through California and Arizona. We are planning to spend next winter down there. We have looked at a few resorts with lots for sale. Could anybody help ...
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I have looked into it myself. If you're looking at it from an "investment" position, I don't think it's a good investment. If you're looking at it because you want to use it all winter, then get your calculator out and see if it makes financial sense. And a calculator isn't the only factor. Some of those lots are just plain nice and you may want to spend the money for that luxury. Most of them let you put storage buildings and barbeques and I've even seen pools and hot tubs at some.
One thing the sales people will tell you is when you're not there they will rent it out for you. That's fine and dandy, but most people use them in the Winter and that's the high season for the are you are talking about. In the summer it's 115 degrees where some of these places are and there are not a lot of people going out in RV's in those temps. So although they say they'll rent it, they may only be able to do that for a few days each month. So you can't count on rental income.
One thing the sales people will tell you is when you're not there they will rent it out for you. That's fine and dandy, but most people use them in the Winter and that's the high season for the are you are talking about. In the summer it's 115 degrees where some of these places are and there are not a lot of people going out in RV's in those temps. So although they say they'll rent it, they may only be able to do that for a few days each month. So you can't count on rental income.
