RV park investing has become increasingly popular among real estate investors. RV parks offer an excellent opportunity to diversify your portfolio and maximize profits.
Paul Moore, Founder and Managing Partner of Wellings Capital, presented during the Royal Investing Summit explaining RV Investing and the lucrative lessons we can learn from the investment strategies of Warren Buffet, Sam Zell, and Blackstone.
In this article, we'll explore why investing in RV parks is profitable for real estate investors.
RV park investing may be a solid addition to your portfolio because of the rising popularity of RVs. For instance:
RVs are becoming increasingly popular due to the freedom and flexibility they offer. With an RV, you can explore new places, enjoy the great outdoors, and have home comforts wherever you go.
According to the Go RVing RV Owner Demographic Profile, Millennials are particularly drawn to RVs as they provide an affordable way to travel while still having access to modern amenities such as Wi-Fi (suitable for remote working) and air conditioning. Additionally, with peer-to-peer rental services on the rise, more people are discovering how convenient it is to rent an RV for their next adventure.
RV parks have distinct advantages for an investor, including the following:
Mobile home park investing is an attractive option for real estate investors because of the following reasons:
One surprise factor for RV growth is remote work. Living in an RV and remote working is becoming increasingly popular as more people seek the freedom to travel and work simultaneously. With the right resources, finding remote and freelance work while living in an RV is possible.
Another surprising factor for RV growth is the proliferation of AirBnB, Uber, and other types of sharing economies. Two new websites make RVs more accessible to people:
There are four types of RV Parks:
This type of RV park is for travelers on the move:
An extended stay park is for semi-permanent placement of an RV:
This type of RV park is a bit more obscure and less common:
A destination RV park caters to the population that visits RV parks for vacation:
There are significant value adds and abilities to enhance revenue by using:
Destination parks carry major capital expenses and need staff. Thus it has significant barriers to entry and some risks associated with it.
The number of people looking for ways to explore the outdoors and enjoy nature while still having access to modern amenities drives RVs and RV park growth. The proliferation of remote work and the impact of the housing crisis contributes to the popularity of RVs as well.
RV park investing can be a great way to capitalize on this trend, as it provides an opportunity to offer a unique experience that combines the best of both worlds. With more people wanting to escape their everyday lives and explore the great outdoors, RV parks are becoming increasingly popular and can be a profitable investment.
Are you looking to invest in RV parks or have other questions about real estate investing? Join Royal Investing group mentoring to receive expert advice and strategies to help you navigate your real estate investing journey.
Scott Royal Smith is an asset protection attorney and long-time real estate investor. He's on a mission to help fellow investors free their time, protect their assets, and create lasting wealth.
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