While buying an RV park may seem like a unique investment, it’s actually done more often than you might think. This is because, in recent years, the appeal of buying an RV park has increased for many investors. But they didn’t come to this conclusion without doing their research. If you aren’t very familiar with what goes into profiting off of an RV park, you may be wondering if it’s worth the investment in the first place. With that being said, let’s explore some of the ins and outs of making money off of an RV park.
How Much Do People Make Off Of RV Parks?
The amount of money you will make off of an RV park can vary depending on the size of the park and where it is located. But generally speaking, there are numbers you can refer back to on a general level. Generally speaking, a successful RV park has the potential to make hundreds of thousands of dollars per year. In turn, the owner of a park on this level could make $50,000 to $90,000 per year individually. Keep in mind that RV parks are still quite popular. According to RVIA, there are as many as 30 million RV enthusiasts in the country right now. Among them are not only RV buyers but RV renters as well.
Of course, you’ll want to compare this to the initial investment that you put into the RV park. A lot of land can potentially be used as RV parks; you could buy a lot that was previously used as an RV park, or you could buy a piece of land to convert it into an RV park. With that being said, the conversion process could result in further investment. Typically, a potential RV park can cost anywhere from $15,000 top $50,000.
What Makes A Great RV Park?
A great RV park needs more than just the space for the vehicles. They also need great locations, either close to attractions or natural wonders. Additionally, they need to be cleared in accordance with zoning guidelines and easy to regularly maintain. Occasionally, this may require some additional work, lengthening the amount of time and money the investor would spend before the park opens.
An RV park is not a small investment. But in the long term, it can be a worthy one.