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.