Buying an RV Park
Does anyone have experience, private or otherwise, in purchasing an RV park? If so, what types of things do you address on the formal offer that may differ from buying a typical single-family residen...
Forum Discussion
Bumpy is so right on this.....what is the length of your camping season, how many sites do you have, what is the cost of the campground.....those are all things that you need to consider! If your income cannot support your expenses...then run away!
We purchased 9 cabins on the Fulton Chain of Lakes in the Adirondacks, we bought at the right time and right price...BUT their reservation books/records where a scam....needless to say, we made a successful business out of it in a years time.....when we put it up for sale, with a price that the rental income could not support.....someone with money bought it.....I felt bad for them, our books where up front and honest...they saw "something" that wasn't there - needless to say, they lasted one year and sold to someone else...who has been operating at a loss for about 5 years now (these are her words)!
Both of these buyers did not use an attorney, who in my mind was soooo wrong.....any good attorney would have looked at the books and saw things that they did not include; ie. business name, website ownership, PO box; email addy, phone # - sooooo many things - GET YOURSELF A GOOD ATTORNEY AND HAVE ANOTHER BANKER LOOK AT THE FINANCIAL END OF IT TOO!
Make sure your looking at this with your eyes open.......
We purchased 9 cabins on the Fulton Chain of Lakes in the Adirondacks, we bought at the right time and right price...BUT their reservation books/records where a scam....needless to say, we made a successful business out of it in a years time.....when we put it up for sale, with a price that the rental income could not support.....someone with money bought it.....I felt bad for them, our books where up front and honest...they saw "something" that wasn't there - needless to say, they lasted one year and sold to someone else...who has been operating at a loss for about 5 years now (these are her words)!
Both of these buyers did not use an attorney, who in my mind was soooo wrong.....any good attorney would have looked at the books and saw things that they did not include; ie. business name, website ownership, PO box; email addy, phone # - sooooo many things - GET YOURSELF A GOOD ATTORNEY AND HAVE ANOTHER BANKER LOOK AT THE FINANCIAL END OF IT TOO!
Make sure your looking at this with your eyes open.......
