Bumpyroad wrote:
westernrvparkowner wrote:
We loved our owned lot at Outdoors Resorts in Indio, Ca. Cost us a little over $150,000 and was worth every penny. Fees were right at $300.00 a month and that included all the common usage areas, workout room, pools, spas, 18 hole golf course including the greens fees. The people were great. If anything they were a bit too social, we seldom had time to go explore the area, since there was always something going on.
When we sold, we got our original purchase price back, so much of our costs were recovered. We would still be there, except we decided we just wanted more square footage for our 5 months in the winter.
assuming that one would finance this 150,000 at ??% what would that cost over 10-15 years etc.? and was that recouped.
bumpy
Assuming that someone would finance it isn't always a valid assumption. It was a recreational purchase, pure and simple. Renting there for five months would cost a minimum of 7 or 8 thousand. On top of that, you can't personalize a rented site. You can't guarantee that you will always have the same site, year to year.
Like anything, some people made a bunch of money (bought low, sold high), some, like me, broke even and some lost big time. But you can say that about most anything. I believe that owning real estate is always going to be towards the top of investment options. It's value is never going to go to zero, which is something you can't say about any stock in the stock market. On top of that, you just cannot place a value on owning something versus renting it. It worked for us and I don't think I stand completely alone in that feeling.
