$10M Profit on Her First Deal Through Campground Investing

Рет қаралды 35,627

3 жыл бұрын

Campground investing isn’t a property type that rookie investors usually get into. But, according to Heather Blankenship, it’s good that she didn’t know what she didn’t know.
Heather was on a road trip from Florida to California, stopping at RV parks and campsites in between driving. She saw how busy these parks were and thought it would be interesting to own one. On her way back to the east coast, she ended up buying a campground in Tennessee for over three million dollars. She had no experience, no team, and no money. Now, that campground is worth over thirteen million dollars!
Although Heather was just 26 at the time, she was able to quickly adapt to the learning curve that the campground presented her. She grew her knowledge and skill set and now oversees around thirty million dollars in RV parks and campgrounds.
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Join the Real Estate Rookie Facebook Group:
groups/realestaterookie
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Visit Heather’s Website:
www.heatherblankenship.com/
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Follow Heather on Instagram:
heatherblankenshipx3 or @heatherblankenshipx3
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Campspot Park Management Software:
software.campspot.com/
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Get Tickets to BPCon 2021:
www.bpcon2021.com/
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Register for Real Estate Rookie Bootcamp:
get.biggerpockets.com/new-rookie-bootcamp-signup/?
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Follow Ashley and Tony on Instagram:
@wealthfromrentals or wealthfromrentals
@tonyjrobinson or tonyjrobinson
Episode 102
Show notes at: www.biggerpockets.com/rookie102
0:00 Intro
2:28 Impulse Buying a Campground
4:07 The Best First Deal Probably Ever
8:16 Real Estate IS a Business
12:02 Operating a Park as a 26 Year Old
16:17 What to Know Before You Buy an RV Park
28:21 Scaling to $30M in Properties
35:00 Financing These Big Deals
39:50 Tools, Software, and Systems
42:44 Mindset Segment
43:33 Random Questions

Пікірлер: 62

@gfagan 3 жыл бұрын

Great Episode she is a huge inspiration and someone who just dove in head first and is killing it!

@diyinvestorjacqueline2332 3 жыл бұрын

Heather is so amazing…just goes to show you that you should not get caught up with thinking you have to know everything or have it all figured out to get started….grit…common sence…willingness to make sacrifices and concessions to get to where you want to be are what’s needed some times…..and by the sounds of it that bank was desperate to get it off their books….so maybe they were a little more flexible than they otherwise would be….but she leveraged that to her advantage and i respect that…she went for it…..she saw an opportunity….and it sounds like she busted her ass to make sure it worked out…sleeping on the office floor….thats commitment to success…much respect miss heather…your an inspiration…love your story

@blancaschaffer 2 жыл бұрын

Grateful for this episode, thanks y’all 😊

@angelo-001 3 жыл бұрын

Great podcast, thanks Tony and Ashley :)

@FidesLaborFuturum 3 жыл бұрын

Great episode guys! Thank you!

@mrspatriciasteele 2 жыл бұрын

This was incredibly educational. Thank you so much!

@fromheretothere5790 3 жыл бұрын

Awesome episode! Heather, your story is very inspiring!

@angelo-001 2 жыл бұрын

Agreed!

@ultimateparodys03 Жыл бұрын

Such an inspiration! Great interview

@manleynelson9419 2 жыл бұрын

Amazing. Thank you so much

@ps2138 Жыл бұрын

Funniest reaction from Tony Robinson at 39:44, where he says “nuuummm” to Heather’s funny sentence..

@Fourfiressolutions 6 ай бұрын

What a g8t podcast! G8t value. I loved the practical detail highlighted here. I am looking to buy a campsite here in Australia and this video really helped. G8t work guys!

@Sepia3000 Жыл бұрын

Soooo, when that 20,000 bill came in before the deal had closed-how did she pay it?

@usmanhashmi3874 Жыл бұрын

Could be a payment plan

@rccpromotions Жыл бұрын

Lol how are we supposed to duplicate what we are hearing. Basically the recipe was timing and good luck.

@user-vu6ow5il8k 8 ай бұрын

Yes I have a Plan, First build a RV park in south FL. then build conssion food trailers & trucks then turn semi trailers into RVs. looking for land & investors!

@DividendRick 3 жыл бұрын

I'm glad I found this channel. I have been trying to buy my first rental. I'm still too scared to pull the trigger. I'm in Houston and there is plenty here. I just don't know how to do it.

@justinvickers4539 Жыл бұрын

I'm purchasing one in fl. I'm looking for a parter

@Arthur-Silva 2 жыл бұрын

My goodness on top of all the competence, she’s gorgeous!

@osmosisreacts 6 ай бұрын

Not everybody is going to get as lucky as her. The story to take away from this in my opinion is don’t be afraid to shoot your shot and ask. Stop being afraid of getting a no. In her case, the bank was hurting and so was she so it worked out, but she would never have known if she never asked

@Flipping_Assets 9 ай бұрын

What did your tax records look like when you applied for tge loan?

@JoeAcosta 9 күн бұрын

Rv park for sale in Texas

@roqfortt 2 жыл бұрын

I had to stop listening a quarter way in. Her claim of getting 3mm+ loan with no money of her own doesnt add up to me. And it creates false sense of reality for alot of up and coming investors. You guys need to do better at doing your due diligence

@victorochoa31 2 жыл бұрын

Exactly... "Please explain us how you win the lottery"

@merlin8675309 2 жыл бұрын

You need a time travel machine to go back to the biggest discount in investments in the history of the US, way bigger than COVID discounts. And people that were in the RE market got destroyed so they weren't around in full force to scoop up deals. If you had a little bit of money, experience and a solid local banking relationship you could buy a whole town. The folks that did that in RE are now very wealthy just like the fortunes made in the Great Depression when you could buy houses from the bank for the tax bill. The bank was running the park for a year just trying to break even!! She turned their liability into an asset- mega value-add. Many strange stories like this came from those days.

@BeyondTheBoundsOutdoors 2 жыл бұрын

3.2 million with no former credit history no former purchases no former experience WTF

@cloudedjourney 2 жыл бұрын

@@merlin8675309 yeah there are tons of success stories like this. Look at Graham Stephan.

@James-nv1wf Жыл бұрын

@@merlin8675309 Then what is the point of this advice... the RE market has since changed.

@Itsallmeagain Жыл бұрын

Can you put me in contact with Heather. I am looking a buying a longterm RV park in Ontario Canada.

@amymahadevan3610 Жыл бұрын

"Teaching women to be financially free"❤This!❤

@NK-te4wg Жыл бұрын

Story of and expectations from woman have not changed no matter from which country/ethnicity / religion she is ...

@user-mm4je1sb9b Жыл бұрын

Excellent advice regarding partners. I was taught at a very young age: Every partnership will fail, so plan for it from the beginning. Including marriage.

@peggykrier7858 Жыл бұрын

She had no experience, but was a rv park broker?

@gonrico Жыл бұрын

Sounds like she got a lot of help a guy would never ever receive

@pastrami00 Жыл бұрын

Not to deny the hard work that she's put into her business but her success is a serious case of survivorship bias and a lesson in "how to be lucky in roulette". Getting a $3M loan with no experience, no money and no credibility solely because of accidental market timing and accidentally finding a park that was owned by the very bank that she wanted a loan from and in the very location where she was moving is so improbable that it's either a lie or a 1 in 10,000,000 chance. Either way, it seriously distorts reality for anyone serious about getting into RE investing.

@justinvickers4539 Жыл бұрын

I'm getting ready to close on one in florida for 1.5 Zero money down owner finance 5.9% 3 years......projected gross of 10 months 640,000...........

@plumpandfabulous4255 Жыл бұрын

And you went on her channel just to be a Debbie downer for what reason. Get your own channel and make negative comments on

@kathyarautmann4671 Жыл бұрын

@@justinvickers4539 congrats! Currently looking into purchasing an RV park, early stages doing the research. Do you mind sharing how you found this deal?

@jeffmack4561 10 ай бұрын

@pastrami00 couldn’t have said it better myself.

@jayjones4394 6 ай бұрын

This is rich kid denialism. No fucking way she isn't backed by daddy money.

@ManassehDon 2 жыл бұрын

YEH hhihihi hahaha hihihi I knew nothing investing, walked in the bank and they gave me $3 200 000 with no down. trala lala lala You expect me to belive this bs?

@user-nj2cf3gz9l Жыл бұрын

😂😂😂 for real

@rebeccalynnpope5922 3 жыл бұрын

Sooooo... ya'll need to ask your guests harder hitting questions because transparency matters, especially since this is a show for real rookies. You mean to tell me someone with no real estate experience, money, business experience or even a base level knowledge of the industry she was about to enter obtained 3.2MM in financing with no money down at 26 years old?.. I call big CAP on that being the real story. even the entitled east coast, ivy league frat bros who eat off silver platters aren't that blessed.

@msherrill1739 3 жыл бұрын

Definitely a LOT of luck. Many dots not connecting on this, like relating Google Adwords to running the park? Obviously, no due diligence at all. Wild!!!

@ehicksjr3320 3 жыл бұрын

Agreed, the Banker that gave her that first loan should be fired. But if you listened to the entire interview you’d realize she only succeeded by hard work, learning, and adapting to her new industry. It is quite an inspiring story.

@travisjacobs3 3 жыл бұрын

She bought in 2011 like she said and apparently bad banking was still going on. So it was a bit of luck. But like she said she had 17 employees and it was basically buying a job... Not easy. Lot of adapting there. All the wealth was built on equity not really cash flow per say.

@glenngriffin3956 3 жыл бұрын

I agree. The bank must have been in a huge bind to provide a deal like that. Deals today require 25%-40% of equity to even get a look and this with years of operational experience. Valuation of her park portfolio also seems very elevated given the number of sites. She now spends a lot of her time brokering parks. Why? Because valuations of most parks make no sense especially if the institutional investors are in the mix.

@cloudedjourney 2 жыл бұрын

She had business experience she said. She also explained the huge expenses the bank would have been taking on and that she used a smaller bank. So after the real estate crash they were probably looking to dump the property and if she defaulted they would just take it back. Most successful people combine luck hard work and intelligence. shes also good looking which doesn't hurt.

@quintecehillstudioqdesigns Жыл бұрын

Yes sure now try that as a black woman.... Hey creditors you don't know me but do you think you can lend me millions on a failing property?.... The mental physical and monetary gymnastics they would make you do is unreal and unfair. I hope you're counting your blessings cuz not everyone is so fortunate.

@pastrami00 10 ай бұрын

What? People are bending over backwards to help black women. Lame victim virtue signaling.