The problem campground and other vacation related properties face today is a lack of
financing. After the collapse of the economy in 2007, financing for these types of
properties dried up overnight. Consequently, I would presume that there are a lot of
resort owners that will be re-financing as soon as the capital is available.
Campgrounds, Recreational Vehicle (RV) Parks and Mobile Home Parks are all
considered in the same category. The reason for this is the way the income is derived.
All three property types are very hands on, requiring significant management from the
owner. Consequently, the income and expenses usually require a great deal of
analysis in order to project a reliable net income stream. Additionally, each property
may include income producing items, that are not real estate. These items must be
individually addressed and dealt with.
The value conclusion is based on market sales, but the sales are used more to extract
an overall capitalization rate than to estimate a unit value.
Appraising campgrounds and mobile home parks is challenging, but we enjoy them.
financing. After the collapse of the economy in 2007, financing for these types of
properties dried up overnight. Consequently, I would presume that there are a lot of
resort owners that will be re-financing as soon as the capital is available.
Campgrounds, Recreational Vehicle (RV) Parks and Mobile Home Parks are all
considered in the same category. The reason for this is the way the income is derived.
All three property types are very hands on, requiring significant management from the
owner. Consequently, the income and expenses usually require a great deal of
analysis in order to project a reliable net income stream. Additionally, each property
may include income producing items, that are not real estate. These items must be
individually addressed and dealt with.
The value conclusion is based on market sales, but the sales are used more to extract
an overall capitalization rate than to estimate a unit value.
Appraising campgrounds and mobile home parks is challenging, but we enjoy them.
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| Dogwood Lakes Campground includes water slide, cabins, Clubhouse, put put golf course, pool, lakes, RV and tent campgrounds and much more. This was a very complex campground facility. |
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Louisville, KY. 40299
(502) 267-6344 Fax
10507 Watterson Tr., 2nd Flr
Louisville, KY. 40299
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