THE BLUEPRINT FOR LANDING A GREAT RV PARK INVESTMENT By Frank Rolfe

While some might wish for a magical genie to grant them the perfect RV park deal, reality offers a different approach. Contrary to myth, locating an ideal RV park investment is not a matter of luck but a blend of smart strategy and good old-fashioned hard work. Anyone fully committed to the venture will eventually find a deal that aligns with their goals. However, there are some key principles to guide you through this process.

The Power of Numbers

One essential concept to grasp is the idea of "volume." Simply put, the more RV park listings you comb through, the better your chances of discovering a gem. If you're serious about finding the perfect match, don't just skim through a few listings online; make it your mission to explore hundreds. Dive into online listings, reach out to brokers for insider tips, and even consider direct mailing to potential sellers. The aim is to maximize your reach. Joe Girardelli, the greatest car salesman in U.S. history, often said that the secret to his success was his focus on massive volume of potential deals. That’s true of almost all industries, including RV parks.

Develop an Eye for Opportunity

To excel as an RV park buyer, you need to become proficient at spotting lucrative deals instantly. This skill will save you considerable time by helping you weed out less appealing options. To develop this ability, you'll need to educate yourself on what constitutes a viable RV park venture. Investigate the factors that contribute to an RV park's success or failure, whether it's marketing strategies or location variables. As you gain this knowledge, you'll find yourself able to assess the potential of an RV park within seconds. When you have achieved the ability to put every deal you look at in to one of two boxes – 1) might be a good deal and 2) definitely not a good deal – then you will have the ability to plow through options quickly and accurately.

Relentless Persistence Pays Off

Casual interest won't get you far in this market. For the best results, you must be tenacious in your quest. Never take “no” for an answer. In many cases, sellers who say “no” today might be a “yes” a week from now when they get bad health news or decide it’s finally time to retire. Many successful RV park owners report that their best deals came from the sellers who were the most challenging to connect with, which means if you quit easily you’ll miss out on these type of opportunities. Persistence is often the key differentiator between securing a deal and missing out.

Fact-Based Decision-Making

When you zero in on a promising opportunity, due diligence becomes crucial. Pay close attention to the information you gather, particularly financial data. For instance, declining occupancy rates could indicate a problematic market condition. If you uncover weaknesses during your investigation, have the courage to acknowledge them and consider looking elsewhere. Becoming emotionally invested in a particular deal can cloud your judgment and lead to poor decision-making. Benjamin Franklin once said that “diligence is the mother of good luck” and that’s as true today as it was in 1776.

Summary

Great RV park investments are abundant and can cater to a variety of budgets and goals. However, these opportunities won't land on your lap -- active effort is required. Rather than waiting for random chance to make your investment dreams come true, take control of your destiny by embracing the right approach: a combination of volume, keen insight, persistence, and fact-driven evaluations. There's no quick fix or magical shortcut, but with dedication, you'll find the RV park that matches what you’re looking for.

By Frank Rolfe

Frank Rolfe has been an active investor in RV parks for nearly two decades. As a result of his large collection of RV and mobile home parks, he has amassed a virtual reference book of knowledge on what makes for a successful RV park investment, as well as the potential pitfalls that destroy many investors.