If you are considering investing your hard earned money, but you don’t want to risk it in the residential real estate market or volatility of the stock market, owning an RV park lot may be an excellent option.
More and more regular people are making the decision to buy this niche type of investment, for many different reasons. Mainly they just want to enjoy their vacation without having to cover long distances and pay too much for storage or expensive vacation rentals.
You may be surprised to know that RV campgrounds are one of the real estate investments with the highest return (around 15% to 20%). Considering an ROI of around 10% for a residential real estate investment and 7% for a stock market investment, owning an RV park lot looks like an intelligent solution.
Location, location, location… It’s the most important factor.
Since location is tied to demand, It determines the initial cost of the investment and the profit when you may want to sell it or rent it.
Selecting a lot in a resort in Fort Myers, FL may be a different price and rate of return compared to a summer-only location like Montana.
When choosing an RV Park, a property with luxury amenities brings more RV patrons and higher demand. Top amenities include:
Assorted racquet sports like tennis and bocce ball
Electrical power for parked campers
The people running the property is another important factor when selecting an RV parking lot. You want to be sure that the property offers a top-notch customer service and that the management takes care of the facilities and amenities. More desirable RV parks have management that treats each lot owner as a family.
Do a little bit of homework up front then reap the rewards of not only owning and investment that should increase in value over time but serves as a wonderful vacation spot to unwind from the day to day grind.
Here are some tips to help with your selection:
Spend enough time to research and investigate. Don’t rush and take your time.
When visiting the properties, ask the owner to show you the amenities and make sure that all work properly.
Make sure that the demand for the chosen location is high enough to be able to sell it at a higher price later after few years.
Look for reviews online
Contact the current management to see if all is running properly at the location
The last step is just to decide if you like the Florida sunny weather, mountain views in Wyoming or somewhere in between!
Thanks to the advent of the smartphone, we can store thousands of photos on a small device. While most people have moved on to primarily using smartphones to take pictures, many of us still have old physical photos that we need to upload and digitize. If you happen to be one of these people, you will be happy to know that you can set your scanner aside. Recently, Google released the PhotoScan app that will allow you to scan your old photos with your phone.
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