Ep 58: Is it Good to Invest in RV Camp Parks? | Don Spafford
RV camp parks or campgrounds are a unique asset class that provides fantastic returns. It has a similar structure to hotels, but because of the amenities and activities that can be added, it becomes more like a resort-style destination.
Don Spafford of Happy Campers Capital joins us in this episode to discuss what makes RV camp parks unique. Our discussion details target returns, property management, bank underwriting, common mistakes to avoid, and the initial steps to take if you want to start investing in RV camp parks. Listen now!
💥💥 Remember, this is your MBA. Have a notepad handy, and get ready to take some 📝 notes!
Key Points from This Episode:
Why RV campgrounds are profitable.
How RV campgrounds compare with the multifamily asset class.
What makes RV campgrounds a unique asset class.
Don’s target returns on their RV campgrounds.
The target audience and market for RV campgrounds.
How Don evaluates markets and locations for the RV campground.
Campsite management.
The bank underwriting process for this asset class.
What are the common mistakes that operators of RV campgrounds make?
Things to consider when underwriting a deal in this asset class.
How to start investing in RV campgrounds.
Tweetables:
“I like being unique and different and this (RV campgrounds) gives me the opportunity to do that and you know, be the, I guess, the highlight of the party.” – Don Spafford
“Even if gas prices go insanely high, and people aren’t taking cross-country trips, they’re still going to go out and use them (RVs) somewhere, right?” – Don Spafford
“It’s not just a standard campsite which you can go to, you know, hundreds of those, but it’s more of like, ‘Hey, I want to go have fun. So I’m gonna go to this specific place to go and do fun things with our family and friends.’”
Links Mentioned
About Don Spafford
Don Spafford has an educational and professional background in Finance and Securities Investing. He grew up most of his life around Omaha, Nebraska.
When his wife became a Realtor around 2010, it motivated him to want to learn how to invest in Real Estate. The family moved from Nebraska to Idaho in 2015 and it was there in Idaho where he got started.
He bought his first property, a four-plex, in 2017. Then two more, 18 months later. Then he began moving into commercial real estate, including ground-up development projects and eventually landed with Happy Camper Capital providing syndication opportunities in RV Campgrounds.
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