I am working a deal with my father to build an RV park on the bay. The only experience I have is that I know the RV’er click very well as I used to be one.
My father was going to will me a house that is free and clear except for 8 grand in back taxes he has been paying on when my sister lived there and was supposed to be paying it. I talked him into selling me the house for 60k to pay the back taxes and use the rest on the park. Two things gained here are I wont have to fight my siblings for the house in probate and he is paid on back taxes. We will be 50/50 in the new property with no note on it. I will pay the note on the house financed in return for the 50% of the RV land.The financed house retail value is $122000 so I have equity in it still if I want to do another deal later with it.
I live 3 hours from the park so I am wondering how to get a manager that will work with me on it. My father will putter around with it some but I dont want all the burden on him. I have emailed all the property managers in the area and no one wants to do an RV park. Instead they want houses to rent. This is crazy to me since these managers specialize in resort property and rent on a daily and weekly basis anyway.