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> Considering Purchasing A Campground
Florida Native
post Aug 5 2012, 09:35 AM
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I was going to college in Tampa from 1962 to 1966 and my wife to be was in Nursing School in Atlanta. I made that trip many times. Used US 41 and then parts of I-75 as it was being built. We have stayed in that area many times. Generally in Perry at several of the parks or at the Wal-Mart. It is about half way to my wife's sister or to my brother's. Makes a great stop for us. We like to limit traveling to about 5 hours or so. That is a beautiful area. We sometimes stop and eat lunch at the Perry Hotel. Food is great, but it is getting run down. There is certainly a lot of traffic on I-75. There would be a winter and summer season also. I have a nephew that is stationed at Warner Robbins Air Force base. My brother just bought a new coach at the Camping World in that area.


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Texasrvers
post Aug 5 2012, 11:36 AM
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SASMITH,

We are glad that you are a member of our website and that you are participating in our forum. We realize you are in just the beginning stages of starting an RV park, and this is a great place to ask for and get advice. However, we do not allow park owners to tell where their park is located as this could be considered solicitation which we do not allow. We have removed your last post as it too closely identified the area where your park will be. Please feel free to continue your discussion about starting an RV park; just please do not mention specifically where it is. Thanks.
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SASMITH
post Aug 10 2012, 07:44 PM
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QUOTE(Texasrvers @ Aug 5 2012, 01:36 PM) *

SASMITH,

We are glad that you are a member of our website and that you are participating in our forum. We realize you are in just the beginning stages of starting an RV park, and this is a great place to ask for and get advice. However, we do not allow park owners to tell where their park is located as this could be considered solicitation which we do not allow. We have removed your last post as it too closely identified the area where your park will be. Please feel free to continue your discussion about starting an RV park; just please do not mention specifically where it is. Thanks.


SORYY, Was trying to stay away from that by not giving address. Thanks, SAS
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wantacampground
post Aug 15 2012, 02:21 PM
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QUOTE(SASMITH @ Aug 4 2012, 09:39 PM) *

wantacampground, Thanks for reviving this thread, it has some very good info for me as we just purchased a piece of property in middle ga for another purpose, but found that it was once a campground (2 acres, 52 spaces in pecan orchard with I-75 frontage). Though the property was originally bought for another purpose it has such great potential as an RV park I decided to look into putting it back into operation. We considered reselling it, but was told by CG brokers that fixer up parks don't sell. Any one have any ideas on this? Thanks, SASmith



Sasmith

Sorry, been out for awhile. I think it would be great if you can get the campground backup and going again. I would disagree with the broker that fixer upper parks do not sell...they just need to priced accordingly. I have and continue to look at many parks out there and the pricing ranges a great deal depending on a whole lot of variables. Would be happy to discuss with you if you like?

Welcome to the forum and I hope that you are enjoying your new property/campground - :-)
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SASMITH
post Aug 15 2012, 09:01 PM
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Sorry, been out for awhile. I think it would be great if you can get the campground backup and going again. I would disagree with the broker that fixer upper parks do not sell...they just need to priced accordingly. I have and continue to look at many parks out there and the pricing ranges a great deal depending on a whole lot of variables. Would be happy to discuss with you if you like?

Thanks for the response, I will say also that I agree that a fixxer up park in the right location could be someones diamond in the rough. Just not sure I am the one to get this one going again. would like your opinion on pricing, but knowing that location plays a big part in this and as this forum does not allow me to give that info, you may want to respond to my direct e-mail asab@windstream.net(if this is allowed by the moderator?) SASmith
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Florida Native
post Aug 15 2012, 09:24 PM
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I think a fair price is about 5 to 6 times the gross income.


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kcmoedoe
post Aug 16 2012, 09:17 AM
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QUOTE(Lindsay Richards @ Aug 15 2012, 09:24 PM) *

I think a fair price is about 5 to 6 times the gross income.

Parks are currently selling at between 7 to 11 times Ebidta (earnings before interest,depreciation, income taxes and amortization) That is a much better indication of value than gross income, which can be misleading if expenses are much different that average. You also must factor in any deferred maintance and anything that is out of the ordinary. For example, a quality home for the owner adds value as does any unused acreage. Poor living quarters deducts value. You also must closely examine any market conditions that may fundamentally change the income stream. Lindsay mentioned the property where the new highway bypassed the business. Using the income before the bypass would have resulted in grossly overpaying. Same with parks that earn a lot of income from temporary workers, such as oil field workers. Those workers and jobs eventually move on. On the other side, income may be poised to suddenly rise if a new road is being constructed that will funnel traffic to the park or an attraction is being built or upgraded that will add additional customers. Finally, altenative use valuations sometime come into play. Many RV parks are actually worth more as development property. A person can pay a premium for such parks, use the park's income to pay the carrying costs and eventually sell the park for that higher use conversion and make more money than selling it as an RV park. Just a lot to consider before tossing out or buying any property based on some formula for fair value.
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