The RV Park Mastery Podcast

The turn-around plan to maximize most RV parks is to increase occupancy and rents. But there’s another component that more and more RV park owners are considering. In this RV Park Mastery podcast we’re going to address the issue of physically expanding the number of lots in your RV park. These expansions can be very profitable, but also come with some pitfalls that must be considered.

RV park owners often have the wrong numbers in their payroll category – and it can be a big cost that can skew the numbers either more or less attractive than they actually should be. In this RV Park Mastery podcast we’re going to review what should and shouldn’t be in the P&L regarding labor cost and why so many moms and pops get this number wrong.

An RV park seems like a simple business model, but maximizing its profitability is just as complicated as landing a spacecraft on the moon. Using scientific protocols to enhance your RV park is essential if you want to really optimize your profitability and efficiency. But how do you do it? In this RV Park Mastery Podcast, we’re going to discuss how you can bring science to any RV park to get a handle on making it the best income property it can be – as well as the most appreciated by your customers.

Money is money, but how you get it can have differing impacts. Whether bank debt, "hard money” or finding a capital partner, your selection can have a huge impact on your quality of life and ultimate profitability. In this RV Park Mastery podcast we’re going to explore the options to pay for RV parks, and what the good and bad aspects are to each.

There are RV park deals, and then there are really good RV park deals. So where do you find those? In this RV Park Mastery podcast we’re going to review the sources of deals and sort them into the categories of quality of the deals they originate, as well as to review why exactly that is. There may be some methods to find good RV parks that you are currently underutilizing.

RV parks with the most potential all have a certain look. And when you see that “look” you need to heighten your push to get it under contract. In this RV Park Mastery podcast we’re going to review what a good deal looks like and what those symbols represent. A sign of an effective RV park buyer is the ability to spot great.

Warren Buffett once said “without passion you don’t have energy, and without energy you have nothing”. Do you really have the passion for buying an RV park? In this RV Park Mastery podcast we’re going to discuss what passion really is, how to harness it, why you can’t fake it successfully, and how most of the top RV park owners share similar passions.

Today’s RV park breaks the boundaries of those of the past – but in a positive way. No longer do many RV parks simply offer one type of service, but a range of options that have different levels of recurring revenue. In this RV Park Mastery podcast we’re going to discuss the different ways and frequency of collecting revenue, and how you can harness this new playing field for greater and more consistent income.

The old adage “it takes money to make money” is true in real estate as most properties require some form of down payment. And if you don’t have the needed funds, what can you do? In this RV Park Mastery podcast we’re going to review the methods of raising capital to buy RV properties from investors as well as lessons learned on the right and wrong way to approach this important topic.

The advent of winter causes some RV park owners to be sad and others happy – depending on whether your property is in the north or the south. But there are concepts out there that allow any RV park owner to extend their season and have revenue year-round. That’s the topic of this RV Park Mastery podcast. All of the concepts we’ll discuss are low-risk and time-proven – you have nothing to lose and everything to gain.

Glamour camping is called “glamping”, and it has its roots in 16th century Scotland when the Duke of Atholl built luxurious tents to entertain King James V. Today’s version is focused on providing an upscale experience in the outdoors, and RV parks are the center of this travel offering. In this RV Park Mastery podcast we review what “glamping” is all about and how you might introduce it into your property’s list of options.

It’s a generally valid observation that much of what looks too good on the surface turns out to be much worse in reality. If you’re thinking that RV park investing fits this bill, then there are two problems: 1) you are being unrealistic on this investing option and 2) you are not paying enough attention to the risks associated with buying the wrong RV park. RV park investing – like all real estate sectors – has good and bad attributes. But there are some unique advantages to RV parks that really are as good as they appear, and that’s the focus of this RV Park Mastery podcast.

Every RV park must have a manager, yet many owners don’t put nearly enough thought or strategy into getting the most out of these individuals (or even to monitor their performance at all). In this RV Park Mastery podcast we’re going to review some simple steps to aid in your selection and oversight of this vital part of your team.

Your customers are the life’s blood of your business. But many RV park owners are missing out on the opportunity to fully understand the feedback from these consumers. In this RV Park Mastery podcast we’re going to review some simple, business-changing methods to harness the power of feedback to move your business in the right direction and increase your customer satisfaction and, as a result, your revenue.

There are different types of RV parks, but one of the most unusual is the “overnighter” which is basically just a parking lot for RVs stopping for the night on the way from Point A to Point B. In this RV Park Mastery podcast we’re going to discuss the unique attributes of this type of property and what you need to watch out for.

Getting an RV park loan is an essential part of the acquisition process. You may be excited about your deal, but that enthusiasm can sometimes be the wrong approach in getting a loan. The issue is that bankers love pessimism. But why is that? In this RV Park Mastery podcast, we’re going to explore why bankers get turned on by negative people, and how to harness this energy is crafting an even better loan package for the lender.

There’s a new movement to embrace trees from a green environment perspective. But RV park owners have treasured trees long before ecology became a hot topic. In this episode of the RV Park Mastery podcast we’re going to talk all about trees and how to manage them correctly. As you’ll see, smart RV park owners are part botanist, part risk analyst, and part Hollywood set designer.

Webster’s defines “partnership” as “a pair of people engaged together in the same activity”. But as simple as that sounds, there are some concrete steps to take in structuring these relationships. That’s the topic of this episode of the RV Park Mastery podcast. We’ll talk about what makes for good partners, how to divide duties and compensation, why partnerships fail, and what to do when they do. If you’re thinking of entering into a partnership to buy an RV park, then this episode is filled with important considerations.

Negotiating RV Park deals is an art. And a science. And if you’re not competent in this skill, you’re never going to realize your full potential. The good news is there are some basic laws of negotiating, and much that you can to do stay in practice. In this RV Park mastery podcast we’re going to review what’s new about negotiating, and check in on what tips can make you a better negotiator.

Many sellers avoid making low-ball offers out of fear of insulting the seller. That can often mean you’ll miss out on great deals because you didn’t take the shot. In this RV Park Mastery podcast we’re going to go over the methods to make low offers without insulting sellers and to forge win/win deals that will make both parties satisfied. As you’ll hear, there’s more to making an offer than just giving a price, and taking the time to make these low offers can be the foundation for extremely effective RV park deal making.

Getting a loan is stressful, and many borrowers put it off too long. In this RV Park Mastery podcast we’re going to discuss the correct timetable to finding a new loan when your current one is expiring. Since real estate requires leverage to maximize return, it’s important that we all understand and respect the lending system and how to approach it in a smart manner.

Teddy Roosevelt once said “nothing in the world is worth having or worth doing unless it means effort, pain or difficulty”. While Roosevelt never owned an RV park (although he did enjoy camping), his thoughts are as accurate today as they were over a century ago. In this RV Park Mastery podcast we’re going to explore the correlation between effort and progress and isolate what areas you should apply the most effort to.

While every RV park owner files an annual tax return, some refuse to share those with the potential buyer and their lender. So what happens when the RV park owner refuses to provide these important documents? In this RV Park Mastery podcast, we’re going to review the impact of lacking tax returns when buying a property and how to use that as a tool to perhaps forge a better deal.

In a modern America there is nothing more dangerous from a liability perspective than having employees. While they can create value, they can also be a toxic danger to your business. In this RV Park Mastery podcast we’re going to discuss the perils of having bad employees and the damage they can do to your business, as well as strategies to mitigate this risk.

There is continual talk of greater inflation on the horizon, which then begs the question “what would the potential impact be to RV parks?” In this RV Park Mastery podcast we’re going to review what inflation would do to RV park investing – both good and bad – and what investors can do to mitigate the risks. With the government continually printing more money, it’s a topic that should be on all RV park investors’ minds.

Most RV parks are successful, but there are some that just don’t work out for any owner. So what are the attributes that make an RV park a loser, and can those be fixed? That’s the topic of this RV Park Mastery podcast. We’re going to explore what qualities make RV parks too dangerous to handle, as well as strategies to mitigate those risks. Since the whole goal of buying an RV park is to make money and have a happy life it’s imperative to acknowledge what could potentially stand in the way.

Many of the best RV park deals involve sellers who are the original builders of the RV park – and these are commonly known as “mom and pops”. But what makes them unique and what do you need to know about working with this select group? In this RV Park Mastery podcast we’re going to review the typical attributes of mom and pop sellers, and how to position yourself as a buyer for maximum success. These are the people who built America, and they are interested in helping you – if you approach them properly.

With the demand for RV parks so strong, many owners are taking advantage of the unparalleled demand to create new streams of income – some of which offer superior stability. In this RV Park Mastery podcast we’re going to explore the best of these ideas and how any RV park owner can create a strong stream of income with some creative methods to harness the demand for all-things RV.

One of the attractions to buying an RV park – for many owners – is to “self-manage” the property. But is this the right choice for you? In this episode of the RV Park Mastery podcast, we’re going to explore what it’s like to self-manage an RV park and some of the issues that should be considered in making that decision.

The SBA and USDA are offering programs to help you finance buying an RV park using small business loans. The terms are incredibly attractive – so good that it would appear the U.S. government is bent on making you an RV park owner. So let them. Or at least understand the options available.

The 1970s brought us many classic rock anthems including “Signs, Signs, Everywhere a Sign” – but I’m sure the writers of the song never thought of it’s apt description in RV parks. In this episode of the RV Park Mastery podcast, we’re going to drill down on proper signage in RV parks including what it is, where to get it, and how to keep the cost low. From property appearance to proper marketing, every RV park owner needs to know about signs.

Buying an RV Park – like buying any asset – is a stressful experience filled with doubts and concerns. However, there is an easy way to get around this hurdle and make informed, accurate decisions that you can feel good about. In this RV Park Mastery podcast we’re going to discuss a simple method we developed years ago to make buying an RV Park a scientific decision based on math and risk assessment and not just gut feel. If you’re buying an RV Park, you want to learn this method.

Science is defined as “the intellectual and practical activity encompassing the systematic study of the structure and behavior of the physical and natural world through observation and experiment”. So how can you apply that lofty goal to RV parks? In this episode of the RV Park Mastery podcast series, we’re going to drill down on the science of evaluating RV parks and bringing factual discipline to the emotional process of investing.

There are several valuation methods that appraisers use – and we’re going to review each of them on this episode of the RV Park Mastery podcast. Between the cost approach, comparable sales approach and income approach, each has its place and some are more important than others. Since the goal of buying an RV park is to arrive at the fair price, understanding appraisals and their methods is a key part of the purchasing process.

We hope that all sellers abide by “my word is my bond” but we all know that’s rarely the case. Instead, we have to write lengthy legal contracts to ensure that things go as planned. And one key component to any RV park purchase contract is the “specific performance” provision. In this RV Park Mastery podcast we’re going to discuss this rarely-mentioned contract item, and why it’s an essential piece to any legal document. As you’ll see, it’s little things like “specific performance” that can make a contract truly binding or not.

When I first got into the business, I was told about the “gypsy traveler” RV park scam. And recently I have been getting calls from people who were unaware of this age-old way to part a fool and their money. In this episode of the RV Park Mastery podcast we’re going to review what a “gypsy traveler” scam is, how to watch out for them, why they work on unsuspecting buyers, and how to make sure your deal is real and not a forgery.

“You can never be too rich or too thin” is a popular expression. However, that’s just not a reasonable goal for most investors. While it’s great to have a safety cushion, it’s unreasonable for that cushion to be limitless. So how can you assess how much to hold in reserve, and to allocate the correct amount of net income to let you be happy but not miss out on an RV park deal? That’s the focus of this RV Park Mastery podcast. In a world in which problems seem to lurk behind every corner, it’s important to keep yourself reasonably protected – but not taking it to an extreme.

Most RV park deals are built on the framework of 20% to 30% down payment on the price of the property. However, sometimes you can go lower. Much lower. In this RV Park Mastery podcast we’re going to discuss how “zero down” or “low down” deals come to be, and what the tools and traits are to make these deals possible. We’ve done around twelve “zero down” deals and we have identified four characteristics that make these a viable alternative to traditional financing.

In less than 45 days the United States will hold a Presidential election, as well as many other federal and state offices. Elections are always a time of concern: how will the winner impact RV park investments? In this RV park mastery podcase, we discuss the real facts behind the issues that could impact RV parks, and what the best and worst case might hold on these various items. Whether you are a Republican or Democrat, this podcast will shine light on what you need to know regardless of who wins in November.

I have an old 1950s pinball machine in my house that serves two purposes 1) entertainment and 2) a constant reminder about the facts of investing. I believe that this game – titled “Super Circus” – can give more investing wisdom with one nickel than Warren Buffett can in an entire book. So what are the lessons learned? In this RV Park Mastery podcast we’re going to discuss the key lessons my old pinball machine teaches, and how those apply to successful RV park investing.

Is ten spaces enough? What about 100? What size is essential in buying an RV park? That’s the topic of this RV Park Mastery podcast – an examination of size vs. success in RV park buying. As you’ll see, there are many permutations in the algorithm of correct RV park size and only you can decide the correct answer on many of these. While bigger is sometimes better, that’s not always the case here.

We all like to emulate certain people – and one that you should definitely want to be like is your banker. If you can think like a banker, you’ll go far with your RV park career. So why is that important and how do you do it? In this episode of the RV Park Mastery podcast series, we’re going to discuss how smart RV park owners try to mirror the desires of their banker and share the same thought patterns.

You may not even own an RV park yet, but you eventually will, and at some point it will come time to sell it. In this episode of the RV Park Mastery podcast, we’re going to review the top 3 action steps to maximize your sales price and better ensure that you get top dollar as well as a faster closing. Since the price you achieve will tell the tale on your total overall return for the RV park it’s essential that you do as good a job in selling as you did in buying and operating.

One of the key goals to buying an RV park is to maximize your return on investment. So how do you do that? In this episode of the RV Park Mastery podcast, we’re going to drill down on the top 3 action steps that smart operators take to increase revenue, decrease cost, and stay on top of all things financial with their property. If an increasing income stream is the goal, then this podcast is all about getting the highest return on your money.

In most real estate investing you make your money on the front-end, with your selection of property and your assessment of its traits and financial performance. RV parks are no different. So how can you buy an RV park in the smartest way possible, giving you the best chance of success with the least amount of risk? In this podcast we discuss the Top 3 Action Steps in successfully buying an RV park.

To hit impressive rates of return, all real estate is contingent on the use of sensible leverage. So how do you get a loan to buy an RV park? In this episode we review the various types of financing available for RV park acquisitions and discuss how to successfully obtain them, as well. Since debt is an important part of every purchase, the sooner you know the options and how to select the correct one, the better.

All forms of real estate are measured by rates-of-return, and RV parks are no different. In this episode we review all of the standard RV park performance metrics and explain how to calculate each one. Since it’s a competitive world when it comes to how you choose to invest your money, this episode will give you greater clarity on this unique investment option. You also need to have a firm handle on these terms when you start hitting banks and looking for financing.

While millions of Americans own an RV, very few people own the RV parks. And this scarcity has created a profitable opportunity for those who understand the business model and have the desire to make high levels of return. There’s also a component of enjoyment, as many RV parks owners choose to live on-site and leave their less happy work life in the past. If you’ve ever wondered about RV park investing, then here’s your chance to learn how it works.