The RV Park Mastery Podcast

One of the most important skills you can possess as an RV Park buyer is the art of negotiation. While most buyers understand the concept of starting low and triangulating the final price from the back-and-forth of price haggling but one element that often goes overlooked is the “Flinch”. In this RV Park Mastery podcast, we’re going to review what the “Flinch” is and why it’s imperative that you adopt it immediately when negotiating on RV Parks.

Millennials have become a bigger demographic than Baby Boomers – and that’s fine because they seem to have the same love for RVs as their older predecessors. But the problem is that many RV Park owners are doing a poor job of welcoming in this younger segment of customers. In this RV Park Mastery podcast we’re going to review some basic steps to increase your share of the “younger generation”.

Much has changed in America since the pandemic, and one of those net effects has been the inability to hit time targets. Thirty days of diligence has been the standard in the RV Park industry for decades, but is that really realistic today? In this RV Park Mastery podcast we’re going to explore the diligence process and determine what the important deal points are regarding the selected time period.

There’s little to like in the national news today. Between a pending recession, the war in Ukraine, the war in Israel, inflation and the highest interest rates in 40 years, there’s plenty to be depressed about. But all that negative news is great news for RV Park buyers. In this RV Park Mastery podcast we’re going to explore why all of the bad things going on in America right now is an “opportunity creator” for buyers.

The typical mom and pop seller has owned the RV Park for decades. But sometimes a seller has been running the property for a much shorter period, even a matter of months. What are the implications when a seller has been only a short-term owner? In this RV Park Mastery podcast we’re going to explore the risks involved in buying from one of these type of sellers, and how to mitigate them.

Every good RV Park buyer uses a contract that has a “due diligence contingency” and the purpose is to allow you to cancel the agreement if the deal does not meet your expectations. But the art form is to terminate the deal without burning any bridges. In this RV Park Mastery podcast we’re going to review constructive steps to cancelling with the seller without causing hard feelings or being excluded by the broker to look at other deals.

We all know that a non-recourse loan is better than a recourse loan – but is recourse as bad as it sounds? In this RV Park Mastery podcast we’re going to explore the real risks of recourse debt as well as concepts to mitigate it and actually embrace it.

How much research do you do on the property before you sign the agreement and put it in the title company? While you don’t want to waste your time, the truth is that too many RV Park buyers wait way too long before getting their deal locked up, and that’s a mistake. In this RV Park Mastery podcast we’re going to explore the strategy behind why you need to tie the RV Park up first, and do the diligence later.

It would appear that interest rates are about to begin their descent after the fastest rise in 40 years. Beginning in 2022, Jerome Powell from the Fed decided to take the rates from 0.25% to 5.5%. However, that all appears about to turn and this will usher in some great advantages for RV Park investing. In this RV Park Mastery podcast we’re going to review what these benefits will be.

Brokers have been the source of more than half the deals we’ve purchased over the past 30 years. But one big mistake some buyers make is to look at the broker as more than just the source of the RV Parks they buy. In this RV Park Mastery podcast we’re going to explore the reasons why you should keep all brokers as great resources for deal flow but not turn them into deal evaluators or sounding boards for your turn-around concepts.

There are many strategies to better serve your goal of forging a deal with the seller, but few are as effective as “inclusiveness”. In this RV Park Mastery podcast we’re going to explore how to make “inclusive” deals and what the net effect can be.

Many RV Parks are sold utilizing seller financing. But on those deals your negotiation does not just revolve around the purchase price – the way you negotiate the seller’s note is just as important. In this RV Park Mastery podcast we’re going to review the key points of negotiation for seller notes.

Once you’ve owned your RV park for a while, invariably you will receive a call or letter from someone wanting to buy it from you for more than you paid. Should you take the money? Is there another option? In this RV Park Mastery podcast we’re going to explore the reasons to sell versus hold on as well as the difference between selling and refinancing your RV park.

Equity Lifestyle (ELS) is a public REIT and the largest owner of RV Parks in the U.S. They recently announced their 2023 earnings and there are some interesting conclusions that can be drawn from them. In this RV Park Mastery podcast we’re going to explore what the ELS financial performance suggests about the future of the industry.

RV Park owners have the benefit of getting paid twice: once with monthly cash flow and then a second time with appreciation in value. So how does this occur and how can you estimate your rate of return with this knowledge? In this RV Park Mastery podcast we’re going to explore why RV Park owners get paid twice and what this means for your investment success.

You can pay managers a flat rate or include a bonus. But never pay managers with equity in your RV Park. In this RV Park Mastery Podcast we’re going to focus on why giving managers part ownership in your property is never a winning strategy.

Some sellers and brokers will try to convince you that you’re crazy when making an offer – that the property is worth twice that amount. But you’re not the crazy one. In this RV Park Mastery podcast we’re going to review how RV Parks are valued and why the crazy one is the one that does not follow the math.

There are two givens in life they say: death and taxes. And those tax returns can often be the death of many RV Park deals. In this RV Park Mastery podcast we’re going to review the ins and outs of seller tax returns including what they can tell you about the property as well as what to do when they don’t match what the seller tells you.

Part of bringing an older RV Park back to life – so it can be the best it can be – encompasses making structural repairs and upgrades to the infrastructure and amenities. But ever since Covid the availability of qualified workers is greatly diminished. In this RV Park Mastery podcast we’re going to review some creative ideas to find workers with the skills you need.

Most of the time you are buying from the original mom and pop builder of the RV park. But sometimes you end up with the next generation – which could not be more different in goals and personalities. So how do you bridge the age gap? In this RV Park Mastery podcast we’re going to give you real-life tips on cutting deals with the heirs.

Of all the important formulas that revolve around RV Park investing, there is one simple fact that explains how the business functions and what makes RV Park investing successful. In this RV Park Mastery podcast we’re going to review what that fact is and the many ways it applies to the business.

If you have even one vacant space in your RV park then you’re losing potential income and value. In this RV Park Mastery podcast we’re going to review the top five ways to boost any RV park’s occupancy – and all of these are things you can do right now and at very low cost. If you harness these five strategies you can boost your occupancy quickly.

With loan interest rates high and the economy troubled, many RV Park deals are requiring an element of creativity to get finalized. In this RV Park Mastery podcast we're going to review the types of creative thought and strategy that can make deals possible and how to get the seller to be as enthusiastic as you are to embrace their outside-the-box mentality.

If you watch the news right now you will come to the conclusion that the world is coming to an end – which is pretty accurate. Recession is certainly on its way to the U.S. and investments should all be currently graded by their resilience in tough economic times. And one of the best of that group are RV parks, which are well positioned to survive whatever the economy throws at them. In this RV Park Mastery podcast we’re going to review what makes RV parks a safe bet in both good times and bad.

The standard construction of an RV park purchase contract is for the buyer to put up refundable earnest money, subject to the findings of due diligence and financing. However, some sellers and brokers will float the idea to you of that earnest money being non-refundable on day one. In this RV Park Mastery podcast we’re going to drill down on this concept and why it’s always a bad idea for the buyer.