Welcome to a new episode of Get Creative. In this episode, we dive into the dynamic world of RV park investments with Patrick and Mychele Bisson. The Bissons share their journey from conventional real estate to mastering the RV park market, leveraging creative financing to transform underperforming parks into profitable ventures. Discover how they navigated their first major projects, applying lessons from the SubTo community and innovative strategies to scale quickly and effectively.

Highlights:

"We went from the underwriting then to then to talking to the realtor and really using all the terms that you know we started."

"It gets better. I want to hear more I'll shut up. Right. So remember the seller wants what it wants $3 million."

"You gotta jump. Yeah I think that is the biggest thing is just jumping in. And even if you're afraid I think sometimes you get just analysis paralysis."

Timestamps:

00:00 - Introduction to Patrick & Mychele Bisson

01:07 - Transition to RV Park Investment

03:05 - Between Storage Units and Mobile Home Parks

05:26 - Exploring the Potential of a Mismanaged RV Park

10:16 - Negotiating the Purchase Price and Terms

17:08 - Finalizing the Deal with Creative Financing

19:35 - Operating Agreement Challenges During Holidays

22:34 - Immediate Financial Benefits Post-Acquisition

25:29 - Additional Revenue Streams and Upgrades

30:25 - Advice for New Investors in the RV Park Space

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