Where can I hire a property manager for $3600/yr for an rv park? 😂

As always the numbers look very inflated. Here are a better numbers: - 47k down + $1750 on mortgage per month (considering 4.1% interest rate - good luck with that) + Business Insurance (around 1k a month) + permits + 3600 per month for the manager (I still believe you will need a full time employee. How do you avoid people just using the property without paying or any issues (like leaks etc?) do you trust the clients? Also 10k per year on maintenance (which can be much more in case of leaks or extra unplanned work on pavement, etc). So all in all the cost per year should be around should be around 85k per year minimum + the 47k down. - Considering you are charging 450 per month (not sure you can get all 35 rented all the sabe time always, so I would consider a 80% occupancy rate), so lease call it 28 units occupied. This will Gross around 150k, which will NET around 65k per year. Not bad, but take taxes, self employment taxes, etc, and you end up with around 50k per year. Not bad, but not even close to the numbers she is representing. It should pay for itself on 1 year and cash flow after. But as any business there are risks. You need to work to gte it busy, deal with unhappy clients, lawsuits, lawyers, accountants, etc...

The RV park industry in SOOOO much more complex than what is being described here! Also, are we talking about mobile home parks or an RV Park ? The RV park industry is a lot like running a hotel. If it's an RV park, is there a franchise fee? Anyway. This is a complex business. Just saying, and Yes Codie, good comment on the need for good management. Good management is the difference between an RV Park where derelicts cook meth and a place for nice people to live.

Confident, knowledgeable and sassy!! Powerful combo!! Just subscribed!!

Great video Codie. I like the pro's and cons listed. Very helpful

Thank you so much for your insights Codi! Just subscribed to your newsletter and hopefully I can learn more from your wealth of knowledge and experience.

Love your videos. Thanks for sharing the amazing content.

Ok Codie ! I just started following you yesterday and already loving your channel !

WOW impressive video, love the energy & the information

I love your content Codie, I am a recent subscriber and aspire to be just like you when I grow up!

Amazing video! If you don't find a means of multiplying your money, you will wake up one day to realise that the money you thought you have has finished. Investment is key..

love your videos codie. i'm 60 years old, trying to find my second act. could you give us some ideas on getting a marina? it's an idea that has been gnawing at me for quite some time. hell - 3/4ths of the earth is water!

Super helpful intro to this market.

love your vids and all but do you have a video on how you find these business that are being sold you talk about the math behind it and the mark but idk seen a vid about how you can find one being sell yet, love the vids again and keep it up

I did know know most rv parks undercharge, interesting stuff to know. Thanks for sharing this story!

What property manager would work for $3.5k salary and $4k worth of free rent, per year?

thank you for the information very helpful 👍👍

Here in Southern UT. RV resorts are full in the winter with Snowbirds. And a little less full in the summer months because of extreme heat. 109 tomorrow. Same with resorts in northern states, mostly empty in winter because of brutally cold winters but busier in the spring, summer and fall mos.

Before you invest in an RV park, check on County, City regulations on length of stay allowed. L.A. County Ca. limits stay to 90 days in a 6 month period.

Get it guuuuuurl!!! Keep up the good work!!

Great video and definitely an impressive deal, but to be clear - its not really "cash-flowing" $15k a month if he took a loan on the acquisition that's the total revenue. Most re investors would consider cash flow to be after debt service and expenses. Still a great buy but I think its important to highlight the debt service to get the complete picture.

Excellent video. I am a part time RV’r and hope to one day own a park(s)!

Great info I am in the early stages of building a rv/campground now

Did you mean to say he pays his property manager $3600 a month or $36,000 a year?

Not only is the content gold but-the editing is fire!🔥

Hi Thank you for your great info Can you makes more videos on how to invest with small budgets to help more and more people to move on to get there goals 🙏

There’s a lot of things missing. What are the net operating expenses? Debt service? Taxes? There are a lot of expenses being left out here which can be very misleading. Rv parks are great cash flowing assets if you can get a good off market deal but there is definitely more to it then a down payment and closing costs and then boom your cash flowing.

Some people are not making the distinction and think this is a campground. This is a mobile home park so there are no restrictions on length of stay. Leases are signed here too. The issue also is that there are NOT many that actually are profitable or they are in areas where they will not be profitable....ever.

How many acres was the RV park? What’s a nice size to start with?

problem with this is quite simple... to qualify for a 400k loan you need to show the lendor or the bank that you have at least two years experience in the business or are bringing in at least 10k a month in revenue.... so ya.. read the fine print people

I am about to build several different things including assisted living, RV park and a storage facility. Good video even if the numbers are a little wild lol.

$400K for a 35 slot RV park? The park we are at here in Clearwater Florida (granted it’s a expensive location), but the park sold for 5 million and it’s being demolished to create condos. My point is, if the location is desirable at all, it won’t be less than a million+.

Codie, in this example is he just taking lot rent? Or are they park owned trailers? Keep the real estate content coming. Loving it!

$350 a month lol. I have been looking cause I want to buy an RV for my travel work, I have been getting 30 day quotes of $1800 plus. Total price gpuging

tHanks for the fun video,.

5 achers inverness fl WORKING IN IT. THANKS FOR THE ENCOURAGEMENT..!

So 100% of the sites are rented for 100% of the year and 100% of people pay 100% of what they owe????? Sure.

Nice work.

$3600 a year for Management? What are they NOT doing for just $3600 a year?

didnt include the cost of insurance, property taxes, water, electricity, or septic/setpic just to name a few

$3500 a yr for a prop manager? I think you meant per month. However, 3500 is still waaaay to low-even with room and board.

so is this a trailer park where basically people are barely getting by? where increases in rent mean homelessness? if thatʻs the case, why is it so necessary to make 373% coc vs 200+ % coc without rent increases?

Wait, the property manage only makes$3,600?

If I buy land for the trailer parks how or where do I get the water, plumming and electricity from? :)

Could you do more videos like this with other businesses..this was 👍

Buy near plants. Always hard to find open spots in Beaumont Texas, dude owns a huge firework/Rv park. Guy makes a killing. I gladly pay 600 month. Cable/ good WiFi/electric. And he has a laundry mat.....

That’s right around my area.

Pretty sweet. If he put 40 k into BTC he’d have no maintenance, no mortgage and it will (if history is any indication) 10x in about 4-5 years. Then he could either buy the park outright or borrow against his BTC holdings and buy a property or more BTC, which is considered property, it’s just digital property that doesn’t degrade, need maintenance, can be moved for almost free, and can be sold in seconds. Liquid property.

Oh wow is 13 Stripes the brewery that he is an owner? The one in Taylors I believe close to Greenville

BRB gonna go buy an RV park

All of the slots are filled? 100% occupancy? I like your channel but maybe the numbers a bit off.

How does he have a property manager for $3600/year??

The property manager makes $3600 a year or $36,000 a year? $3600 a year would be pretty criminal.

There's an rv park a mile from my home on McClain lake in northern Wisconsin. They have 218 spots and charge $650 a month in rent. I wonder what their cash flow is? I do know that 70% of their spots are permanently full.

Great video

You are talking about RV part like it is the same as a trailer park. They are different investments.

Ready to take a conventional loan for the park together!

You are about to BLOW UP on youtube

no way...a property manager here makes 3600 a year? is that livable or is it because they manage multiple properties?

This sounds great but you're stating the income figures as if they're net but they're really gross. There's no mention of expenses like repairs, utilities, improvements, vacancy. I think his P&L would look very different than explained here. A property manager for $300 a month sounds doubtful, likely more like someone on site who handles odds & ends, but he's still managing things from afar (i.e. who does the bookings, interfaces with contractors/vendors/etc.). I'm researching rv parks & campgrounds, but management/operation time investment is making me skittish. Would be great to hear directly from him on these topics.

How does a property manager make so little money. $3,600? Really?

Love this, someday soon I will own one!

There’s always so much detail left out of these videos. Obviously there was a reason it wasn’t selling that should be pointed out. Assuming no vacancy is always weird. Sometimes a more in depth video would be way more beneficial

Great video! What do you pay your editor to create them? Looking to hire at at least that level of quality per edit. Maybe the actual editor will answer this. lol

ty! AFTER reading some of the moronic comments on here , I understand why there are so many sore losers, working sheep, you cant do thatttt...thank for showing me that my ideas are good, valid just get off my ass at 65 and do it. Start small go big! the hell with some here!

Why was the park for sale in the first place?

Damn got a bargain and still raised everyone's rent $100 a month. Guy sounds like a piece of work

He bought the park already filled though correct?

How many businesses do you have? I was just curious. I found this channel from your laundromat business. I have family in TX that owned a laundromat business for years Crow brothers laundry in Waco Tx. It’s a service people always need. Laundry doesn’t go away because of a recession or pandemic.

Holy smoke, ridiculous cap rate for sure. Here I am up in Vancouver Canada, looking at on average 3.5% cap rates and if I'm lucky maybe a 5 cap. Lol

Huh so a property manager only costs $3600 a year?? Is that missing a 0?

What ever you decide sanchez. Ready to move on with the RV mobile deal. We need to start that business. A tone of my gentlemen wait on my last decision. I'll bring on table. Let's start it now in this summer 2021. For me. Mine start july 21, 2021. I don't know who's the boss yet. But, I'm waitinggggggg For a good, sweet. Sensual. Hot boss to start my first deal!!!👂🤝♥️

Have you ever dealt with resentment from employees who watch your videos about escaping the 9-5? How do you balance your personal brand (leverage other peoples labor to get rich) with keeping employees happy working for you?

What does the operator do? Only getting $300/m

You pay a property manager $3600/yr? So, their rv spot is free ($350/mo value) as part of their package. Their total compensation is $7800/yr for a 35 spot RV Park?! I dont know where you're finding these suckers but I'm looking for someone to work their ass off for that type of pay at my tiny home community.

why the previous owner unload it if its profitable

I have 7 acres of land but idk what to do with it ?

I have been working in IT for a while. Always wanted to switch to venture capital. Do you have any advice e on career pivot? Just don't want to go back to school. Doing one BS is more than enough. Hahahahha

You are my new fav sprit animal.

Why rent an rv park when I can park at the park in california.

Nice 👍

How different are "RV" parks verse "Camp grounds"

These numbers seem way off. First it is assuming that all 35 spots will be full every month for a year and that is very unlikely. Second you said the property manager was 3600 a year. That can't be right even if he is living onsite. That is 75.00 a week.

Why do you assume 100% occupancy?

You didn’t include utilities at all????

Build a mini mart in the RV park

Take care of your plants.

RV Parks are way more complex than this breakdown. I'm in South Carolina and RV Parks are selling for ridiculous multiples.Just looked at one making $300,000 in revenue selling for $2.3M.

Great!

Charging your rv? You mean powering? Also…you’re assuming 100% occupancy. Which is impossible year round.

not an RV park but just a trailer park huge difference!

I'm gonna do it, hold my beer....

02:51 Property manager @3600 yearly?

I owned and operated an RV park for many years. These numbers make no sense. You're missing most of the expenses. No debt service. Someone to manage the park for $3600 is crazy. And your Cash on Cash return number seems to just be made up because you certainly didn't show the numbers.

I can launch a product on Amazon for 20k and it will give me back 69.7k a year coc. After cogs and management. But I'd rather have the deed to thst land.

Can you make a video on auto car wash buisness?

Don't forget about property taxes and insurance

your smart asf

Where did he get the loan with 10% down?

Now if it’s doing so well why would someone sell it in the first place…