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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Another very important consideration is park management. Most likely, the lot you buy will be is a commercial RV park. Also, you must consider that no matter how good the present management is, RV parks are frequently sold, sometimes to investors (read speculators). So no matter how nice it is now, the park could go down hill fast.
Once you buy a lot or buy a park model and put it on a rental lot, you are more or less stuck there and at the whim of who ever the current park management is.
I was renting in a park 2 years ago where residents paid for trash collection, sewer and water only when they were there. Those services were provided by the local municipality and the park just passed through the costs to the residents.
The park was sold and the new owners saw utilities as a profit center. They added a sir charge and required the residents to pay for all 12 months even though the municipality only charged for the actual use. No amount of weeping, gnashing of teeth or lawyers could get the new owners to relent.
Once you buy a lot or buy a park model and put it on a rental lot, you are more or less stuck there and at the whim of who ever the current park management is.
I was renting in a park 2 years ago where residents paid for trash collection, sewer and water only when they were there. Those services were provided by the local municipality and the park just passed through the costs to the residents.
The park was sold and the new owners saw utilities as a profit center. They added a sir charge and required the residents to pay for all 12 months even though the municipality only charged for the actual use. No amount of weeping, gnashing of teeth or lawyers could get the new owners to relent.
