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rangiebob
For our business we spend a lot of time in Moab, Utah. There is an RV park called Portal that we stayed at last month and loved the location, the scenery around the park and the customer service. The lots are 40 x 80 so we were able to pull in our 42' motor home with the 25' enclosed trailer still hooked up, with plenty of room to park our vehicle and our motorcyle on the concrete pad and still had lots of room to walk around without having to walk on the grass or stones. They started selling lots last year and the price has increased 20% since they were first offered.

Several people I met while we were there have purchased RV lots around the country and sold them for big profits. We put a small deposit down which is fully refundable until we sign the contracts. Our problem is that we don't know if we can get the funding for a loan. Most banks are clueless when it comes to RV lots. The owners/developers have made arrangements with a Utah credit union to take care of financing, but we want to shop around to see if we can get a lower interest rate.

Has anybody bought an RV lot and, if so, how did you get financing? Thanks for any help.
DXSMac
QUOTE(rangiebob @ Jun 1 2008, 03:25 PM) *

Several people I met while we were there have purchased RV lots around the country and sold them for big profits.


I haven't done it, but it's an option I'm considering, and am interested in how other people do. But, just a caution. Regarding "sold for big profits....".... I'm sure you mentioned this as a matter of record, and as a potential justification to help you in your decision, but please, don't make "big profits" be your major reason for doing this. In my experience, having this as a reason tends to "backfire." Buy a lot if it suits your lifestyle and you intend to remain there for many years. I wouldn't do it if you only intend to stay for, oh, less than five years.

But, like you, I'm interested in this, too! I don't think I want a park model, I just want a place to park my RV.

JJ
rangiebob
QUOTE(DXSMac @ Jun 1 2008, 06:58 PM) *

Regarding "sold for big profits....".... I'm sure you mentioned this as a matter of record, and as a potential justification to help you in your decision, but please, don't make "big profits" be your major reason for doing this. In my experience, having this as a reason tends to "backfire." Buy a lot if it suits your lifestyle and you intend to remain there for many years. I wouldn't do it if you only intend to stay for, oh, less than five years.

But, like you, I'm interested in this, too! I don't think I want a park model, I just want a place to park my RV.

JJ



I appreciate your comment, but the reason I said this is that it is one reason for us to invest in it. It's not cheap and we want to know that chances of selling it as an investment in the future are good. And since Moab, UT is a popular vacation destination with quite a few RV parks that always fill up, it is a good sign for selling it for a profit.

But the reason we even thought about doing it is that we are in Moab several times a year for our business and it makes sense for these reasons: RV campground rentals for staying a couple of months, which we generally do when we're there, are expensive. And there are events every single week and weekend spring through fall seasons there and rental reservations need to be made a really long time in advance. Because the site is so wide, we will have the option of building on it, say an outdoor kitchen, a full-size bathroom, laundry room, storage room, etc.

I know I'm seeing many RV lots for sale in other states that are cheaper than Moab, but most of them are places we stay for no more than a few weeks during the course of a year. The only other place we stay for an extended period of time is in Mesa, AZ in the winter, and the place we stay has more park models than motor homes, which doesn't appeal to us.
DXSMac
I know some people who bought a lot in Indio, CA, and they regretted it after they did it. But that was CA, you are talking UT, and it sounds like you have good BUSINESS reasons to do this.

I'll admit, I'm ignorant on these RV lots, but still, I wouldn't get your hopes up about "buying it so you can make a killing when you sell it." Who knows?!?!?!?!?

JJ
FosterImposters
Good topic Rangiebob. wink.gif
Find ourselves nosing around with similiar idea...different parts of the country. Recommend gaining general overview of area health and various purchasing tactics from the folks who are/ will be your neighbors. Helps tremendously that you all have spent time in this community.

Depending upon the state, recommend a lawyer BEFORE purchase. They'll uncover liens with/on current owners, future hiway projects...(eminent domain) that may impact your targeted property in the future.

Moab IS a bustling community. Targeting themselves as the next Jackson, Wyoming...right?
Cheers!
rangiebob
QUOTE(DXSMac @ Jun 1 2008, 10:18 PM) *

I know some people who bought a lot in Indio, CA, and they regretted it after they did it. But that was CA, you are talking UT, and it sounds like you have good BUSINESS reasons to do this.

I'll admit, I'm ignorant on these RV lots, but still, I wouldn't get your hopes up about "buying it so you can make a killing when you sell it." Who knows?!?!?!?!?

JJ



Did the people who bought in Indio say why they regretted it? I'd like to get as much information as I can.

Well, the only way we will go through with this is if we can get a reasonably priced loan. And so far, this is a real challenge. So who knows is right!! wink.gif
DXSMac
QUOTE(rangiebob @ Jun 2 2008, 01:48 PM) *

Did the people who bought in Indio say why they regretted it? I'd like to get as much information as I can.


Nothing specific..... just that they kind of felt they wanted to travel a lot yet here they were paying for a "stationary" lot.... something like that, and the "feelings" came after the purchase. The originally thought they would like a "stationary" place for their RV, so it made sense... but their feelings changed after they bought it.....

JJ
rangiebob
QUOTE(FosterImposters @ Jun 2 2008, 11:27 AM) *

Moab IS a bustling community. Targeting themselves as the next Jackson, Wyoming...right?
Cheers!



Yes, Moab is a bustling community except for the winter months. Although we have offered a New Year's trip for the past 8 years in our business. This year, I'll stay in AZ and hubby can fly or drive up on his own. Way too cold for me. sad.gif I don't know anything about Jackson, WY but Moab has a few 5 star restaurants with two of them walking distance from the RV park we're contemplating. And it is a mecca for 4-wheel driving, biking, hiking, horseback riding, rafting, and a great music festival.

Let me know if you take your idea any further and what you find out about financing a lot. Thanks.
Florida Native
These RV lots in Florida have gone up at a staggering rate and have now started to come down and be very hard to sell. I would think that how long you wanted to keep it would be a big part of your equation. You might be stuck with it for a while. As the gas prices go up and RV makes continue to go under, you would think the value of these lots and campgrounds in general would not be a good investment. I am speaking in general terms and there will always be exceptions on either side of the equation. I would think the times we are in would tend to push the bar a lots higher on the lot purchase idea.
Lee and Fran
Lindsay has said it well. If the prices keep going the way they are the rv world will be a rich mans luxury thus fewer of them and possibly a bit of a death there until it gets back on track again. Florida rv parks have just about priced themselves out of business. I have heard of some parks selling lots because they are not selling very many of the regular type lots for those in passing. Basically they priced themselves out of that market. Because of prices in Florida we have chosen never to enter that state again if we can help it.
As for Moab they have year round excitement whether anyone short of the locals knowing it. Of course the rv parks shut down because its more like about half as many as summer coming in.
TexasRee
QUOTE(rangiebob @ Jun 2 2008, 03:48 PM) *

Did the people who bought in Indio say why they regretted it? I'd like to get as much information as I can.

Well, the only way we will go through with this is if we can get a reasonably priced loan. And so far, this is a real challenge. So who knows is right!! wink.gif



I own a lot at Outdoor Resorts in Indio, CA. I do not regret buying a lot. My only regret is the lot that I purchased. The lot is for sale---so that I can buy a larger one down the street. Just as with the housing market, sales are slow the price of the lots have gone down.


For some, it is less expensive to rent rather than own. Besides the initial investment, you have the ongoing HOA fees, property taxes, etc---all the stuff that goes with ownership of any kind of real property.

Everyone has different wants and needs. That is why there is a discrepency in the reviews. Someone in a small travel trailer may rate a park as a 10 because they like that kind of place where I may rate it a 6 or less--because it does not have the ammentities, landscaping, and service that I want.

At this time, I am at the Outdoor Resort of the Ozarks near Oak Grove, AR. It is awesome. If it were not so far from CA, I could buy one here. Prices are very reasonable and the monthly HOA fees are cheap.
FosterImposters
Jurhee: may I read into your post that perhaps PURCHASING in Oak Grove, AR...and RENTING in Indio, CA might have been better in hind-sight? Willing to bet fuel prices are cheaper there right now. rolleyes.gif
Just researching and sure appreciate the discussions.
Thanks so much cool.gif
TexasRee
QUOTE(FosterImposters @ Jun 12 2008, 01:02 PM) *

Jurhee: may I read into your post that perhaps PURCHASING in Oak Grove, AR...and RENTING in Indio, CA might have been better in hind-sight? Willing to bet fuel prices are cheaper there right now. rolleyes.gif
Just researching and sure appreciate the discussions.
Thanks so much cool.gif


OOPS! hit the send too soon! Don't know how to delete this. And I already sent another reply.
TexasRee
QUOTE(FosterImposters @ Jun 12 2008, 01:02 PM) *

Jurhee: may I read into your post that perhaps PURCHASING in Oak Grove, AR...and RENTING in Indio, CA might have been better in hind-sight? Willing to bet fuel prices are cheaper there right now. rolleyes.gif
Just researching and sure appreciate the discussions.
Thanks so much cool.gif


Well, I responded to this twice, and neither of them posted so I will try again.

Because of the distance from SoCal, purchasing a lot in AR would be out of the question. If we were full-time, maybe so, but DH is not interested in that. If full-time, we might have one here and the one in Indio as well and just go back and forth every 6 months or so.

There are pros and cons of owning a lot. Of course, the initial investment being a big one. But, by owning, you can add on things like entertainment centers if you want---and almost everyone does something to personalize it. Of course, that is more $$$ rolleyes.gif

To rent for a season would cost no more than paying the HOA fees for the year, so that is a wash, just spreads out the cost over the year.

The only regret in purchasing the Indio property is the lot that we bought. We should have spent a little more and got a lot on the golf course with a prettier view. At this time, probably the only reason that we would sell and not but another lot would be if the house sold and we bought a house in Indio---which we would like to do.

http://www.jerry-jurhee.blogspot.com/
Florida Native
I have heard that some of the lot owner associations and be very testy. Things like assessments and the like. I belonged to a condo association in Florida once, and it was not a happy experience. The leadership came right from prewar Germany. I would be very careful to not get involved in this type of thing. We got an assessment for $1200 for repainting the exterior of the condo. Looked great to me, but the committee said the paint was good for only 5 years and then it lost it's warrantee and we had to repaint. Very dumb. Some owner associations have this type of thing and they should be avoided. People will never agree and frequently the loudest one wins. Be careful.
TexasRee
QUOTE(Lindsay Richards @ Jun 13 2008, 07:40 PM) *

I have heard that some of the lot owner associations and be very testy. Things like assessments and the like. I belonged to a condo association in Florida once, and it was not a happy experience. The leadership came right from prewar Germany. I would be very careful to not get involved in this type of thing. We got an assessment for $1200 for repainting the exterior of the condo. Looked great to me, but the committee said the paint was good for only 5 years and then it lost it's warrantee and we had to repaint. Very dumb. Some owner associations have this type of thing and they should be avoided. People will never agree and frequently the loudest one wins. Be careful.


Well, I have made lengthly posts 2 times, and about the time I finish, everything goes away.

I give up!!!

I am not concerned with my property and the management of it.

Motorcoach CC of Indio and of Las Vegas are no longer associated with Outdoor Resorts. Don't know what the deal is with them. Just heard about it today, and their web sites verify this information.

Closing before this is lost!!!

Jurhee
FosterImposters
Thanks Jurhee for wrestling with the postings. Sure appreciate your sharing.
Cheers!
cool.gif
rangiebob
I appreciate hearing about all of your experiences. To update my original post, three weeks ago I put a call into the credit union that the developer has made arrangements with for financing which at the time was around 8+ percent. They haven't returned my call, so that's not encouraging.

But I did talk to someone at the branch of our bank that is in Moab, UT. They actually knew what an RV lot was and said they would do a loan for 70% of the value, but after 2 years we would be required to improve the lot and they will refinance the loan. Improving would be something like adding an outdoor kitchen, a bathroom/laundry room, etc. The lot site will already have concrete and all utilities included.

The RV lot is being appraised by them this month sometime. Once we get that information, it will help us decide what to do. We're leaning toward not buying it because of the 70% loan thing which would make our monthly payments unaffordable. It really clicked when someone on this thread mentioned that renting for a season would cost no more than paying the HOA fees (which could change on a dime), plus a huge loan payment. Ouch. sad.gif
TexasRee
QUOTE(rangiebob @ Jun 21 2008, 06:05 PM) *

IThe RV lot is being appraised by them this month sometime. Once we get that information, it will help us decide what to do. We're leaning toward not buying it because of the 70% loan thing which would make our monthly payments unaffordable. It really clicked when someone on this thread mentioned that renting for a season would cost no more than paying the HOA fees (which could change on a dime), plus a huge loan payment. Ouch. sad.gif



Of course, no one can predict HOA fee increases and assessments. But, our HOA fees only increased $25 last year--($350 to $375) and there has not been any assessments (www.orindio.com). But, our resort is well established and sold out. The MotorCoach Country club across the street had a $1600 assessment last year, and I don't know how much their HOA's are.

Like we have seen by all the problems people have had with purchasing a home, it is easy to get in over your head. Fortunately, we were able to purchase our lot without having to borrow. I would not have done it otherwise.

Jurhee
John S.
With all the sales declines in the motorhome industry now, the idea of a lot as a permanent base is interesting but I feel they will be alot cheaper soon. They have not felt the decline in sales yet that will come from a big decline in new sales. Now every year some RV will get taken off the road to hunting camps or to rot in a field. The new ones coming in are more than the ones going out and therefore you will have an increasing base of people looking to buy. BUt now the deleveraging of america and the slow down and near stoppage of sales is going to ripple through the entire RV industry. RV resorts are late stage and will be the last to be hit. I would be very careful buying one now.
TexasRee
QUOTE(John S. @ Jun 22 2008, 09:31 PM) *

With all the sales declines in the motorhome industry now, the idea of a lot as a permanent base is interesting but I feel they will be alot cheaper soon. They have not felt the decline in sales yet that will come from a big decline in new sales. Now every year some RV will get taken off the road to hunting camps or to rot in a field. The new ones coming in are more than the ones going out and therefore you will have an increasing base of people looking to buy. BUt now the deleveraging of america and the slow down and near stoppage of sales is going to ripple through the entire RV industry. RV resorts are late stage and will be the last to be hit. I would be very careful buying one now.



I agree, John. I don't know about new sales in the OR Motor Coach Country Club in Indio. Those are so high priced as new lots that it is crazy. And resales are crazier. We are across the street where there are only resales. The prices have dropped significantly the last year, going along with the housing market.

We lowered the price a little on our lot---to the point that we would break even with the improvements. If it doesn't sell, we are not concerned, we will just continue to enjoy it until the market turns around.

Jurhee
---Are you on the Foretravel Owners list by any chance?

John S.
Oh yes. I am the one on that list too. I have 195,000 miles now on my 3 Foretravels so far. I also own a Bornfree as well. SO I am a two motorhome owner . The BF is a new 2007 I bought at the end of the year..
TexasRee
QUOTE(John S. @ Jun 23 2008, 09:55 PM) *

Oh yes. I am the one on that list too. I have 195,000 miles now on my 3 Foretravels so far. I also own a Bornfree as well. SO I am a two motorhome owner . The BF is a new 2007 I bought at the end of the year..



I figured that was you, but not sure.

This is our first Foretravel, but there have been a BUNCH of others before this one--Mostly Country Coaches. We have really enjoyed the Foretravel.

Jurhee
John S.
I am on my third Foretravel now. I have put on 195,000 miles on three units total. I have a 24 foot Bornfree as well for the short trips. It is funny they get the same mileage. I will say that I really like the new Foretravels but wanted the IFS when I was looking at a Nimbus in Oct. Now they have it but I will wait a while before looking again.
bj41
Hi,
I am new to this website and saw your post about buying a lot and thought I would give my 2 cents.
I have noticed in Florida that alot of parks seem to be going this way and have visited a couple of them. I personally think what they want for them along with the monthly fees that it is an expensive way to camp. The lots that I saw were not any different than the sites that we camp on for a nightly , weekly, or monthly fee. I don't know if it is that way all over the country.
My problem with it would be, what if I bought there and then decided I didn't want to be there any longer, how difficult is it to sell. I like the idea that if I want a change I can always book some place else.
Just my thoughts.
TexasRee
QUOTE(bj41 @ Jun 24 2008, 06:15 PM) *

Hi,
I am new to this website and saw your post about buying a lot and thought I would give my 2 cents.
I have noticed in Florida that alot of parks seem to be going this way and have visited a couple of them. I personally think what they want for them along with the monthly fees that it is an expensive way to camp. The lots that I saw were not any different than the sites that we camp on for a nightly , weekly, or monthly fee. I don't know if it is that way all over the country.
My problem with it would be, what if I bought there and then decided I didn't want to be there any longer, how difficult is it to sell. I like the idea that if I want a change I can always book some place else.
Just my thoughts.


When you purchase a lot, it is real property, just like your house and you have the expenses that go along with "the joys of home-ownership" tongue.gif In some neighborhoods (stick house) you have HOA fees. You have maintenance, if you want to remodel, you have to pay for that. The same is true when you purchase a lot. Then, if you want to sell, it is like selling your house--it depends on the demand---what the market is doing at that time.

At Outdoor Resorts, Indio, CA , http://orindio.com/ and I expect the other similar Resorts, people come for the season. Different places have different seasons. In Indio, from October to April, the place is full---the rest of the time, there is almost nobody there. People don't come in for a weekend or something like that. About the only time anybody leaves is if they are going to a rally or something like that, then they come back. It is not "camping" as most of us think of camping. It is people living in their rig either seasonally or full time, where the climate is what they like. I have friends that winter in Indio, and have a similar lot in Oregon for the summer. Across the street from where we have a lot is the Motorcoach Country Club http://www.motorcoachcountryclub.com/main.php It is very expensive--as you will be able to tell by looking. Not camping there, for sure!!!

There are restriction on the rig that you have. For instance, in both, Class A coaches only. There is a minimum length restriction, but I don't remember what it it.

In reality, you can come to a place like this for the season and the rent won't be much more than the HOA fees for the year. The difference is that the expense is spread out through the year, and you own the lot and can use it and remodel as you desire.
bj41
Hi,
I do understand that it is like real property and you can do whatever you wish to it along as the resort doesn't have stipulations about what you do.
For me, I am not sure I would want to go this way, I think it is alot of money to lay out as the ones that I have visited start at about $70,000 and that is the low end and being retired and not know how many years we would be able to travel to the resort makes me think twice.
I realize it isn't camping as you think of parents with kids or camping in a tent, or pop up.
We too have a Class A 2005 Motor Home and go to Florida at one resort for the winter and on our site we can do almost anything we want , but can't of course put up anything permanent.
We are from NJ and the resorts (campgrounds) in our area, if you want you can do seasonal sites or year round sites and they allow you do alot.
The bottom line is you have to do whatever works for you.
I have visited on the web alot of resorts out towards your area and they are really beautiful.
Good luck and Happy Traveling.
PS I looked at your Blog, very nice and interesting.
I keep a journal and pictures of our travels and the trip across country was very interesting seeing all parts of the country, never thought of a Blog, didn't know that much about them or how to go about putting together one.














QUOTE(Jurhee @ Jun 24 2008, 07:50 PM) *

When you purchase a lot, it is real property, just like your house and you have the expenses that go along with "the joys of home-ownership" tongue.gif In some neighborhoods (stick house) you have HOA fees. You have maintenance, if you want to remodel, you have to pay for that. The same is true when you purchase a lot. Then, if you want to sell, it is like selling your house--it depends on the demand---what the market is doing at that time.

At Outdoor Resorts, Indio, CA , http://orindio.com/ and I expect the other similar Resorts, people come for the season. Different places have different seasons. In Indio, from October to April, the place is full---the rest of the time, there is almost nobody there. People don't come in for a weekend or something like that. About the only time anybody leaves is if they are going to a rally or something like that, then they come back. It is not "camping" as most of us think of camping. It is people living in their rig either seasonally or full time, where the climate is what they like. I have friends that winter in Indio, and have a similar lot in Oregon for the summer. Across the street from where we have a lot is the Motorcoach Country Club http://www.motorcoachcountryclub.com/main.php It is very expensive--as you will be able to tell by looking. Not camping there, for sure!!!

There are restriction on the rig that you have. For instance, in both, Class A coaches only. There is a minimum length restriction, but I don't remember what it it.

In reality, you can come to a place like this for the season and the rent won't be much more than the HOA fees for the year. The difference is that the expense is spread out through the year, and you own the lot and can use it and remodel as you desire.
TexasRee
QUOTE(bj41 @ Jun 25 2008, 10:04 AM) *

Hi,
I PS I looked at your Blog, very nice and interesting.
I keep a journal and pictures of our travels and the trip across country was very interesting seeing all parts of the country, never thought of a Blog, didn't know that much about them or how to go about putting together one.



The blog is fairly easy. Sometimes it is difficult to get the spacing like I want it, but the site blogspot.com has the templates, colors, etc. And it is freel It has been something fun to do late at night after DH has gone to bed!


.
OUR GRANDSON IS COMPETING IN THE SWIMMING OLYMPIC TRIALS. IF INTERESTED, SCHEDULE INFORMATION IS SHOWN ON MY BLOG -- LINK BELOW.
bj41
Thanks for the info on the Blog and Good Luck to your Grandson.


QUOTE(Jurhee @ Jun 25 2008, 10:09 AM) *

The blog is fairly easy. Sometimes it is difficult to get the spacing like I want it, but the site blogspot.com has the templates, colors, etc. And it is freel It has been something fun to do late at night after DH has gone to bed!
.
OUR GRANDSON IS COMPETING IN THE SWIMMING OLYMPIC TRIALS. IF INTERESTED, SCHEDULE INFORMATION IS SHOWN ON MY BLOG -- LINK BELOW.

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