Thread by @ibuyrvparks

🧵 Seasonal RV Park/Campground Operations - Lessons Learned

(1/12)

I've learned many lessons after my 1st season at my RV park/campground.

Some of these may be obvious to you #SMBTwit guys and gals but I am just a simple RE guy trying to run a seasonal campground.

Here goes:

(2/12)

1. If you're buying your 1st park and have never managed 1, manage it yourself for a season.

You should know the park & ops like the back of your hand b4 u expect anyone else to do it effectively.

Unless u r a seasoned pro with an ops team, u should do it yourself 1st.

(3/12)

Furthermore, this is especially true if you are buying a park in an area that you are not already familiar with. Don't rush 2 hire someone b4 closing.

Get situated at the park, meet neighbors, network w/ local biz owners. You'll likely find a better manager that way.

(4/12)

2. Put cameras up monitoring the entrance, the store, any critical infrastructure, and any common areas.

For obvious reasons, you want to be able to see what is happening at the park when you are not there.

Your customers and managers will notice and act accordingly.

(5/12)

3. If you are not present, make sure your manager sends you video recordings of critical tasks being completed.

I implemented this when I found out my mgr told me he winterized our 💧 lines and well pumps and I came back to 2 ruined pumps and a bunch of broken 💧 lines.

(6/12)

4. If possible, hire on a trial basis b4 you allow any1 to occupy 🏠 on the property.

Firing any1 who occupies your 🏠 is messy and will drag things out.

Even if they are cooperative, it will take them time to find another place and move out, delaying your next hire.

(7/12)

5. Hire slow, fire fast.

If u r like me and intended to buy a park w/o managing it yourself, manager turnover is your enemy.

It is far better to plan to spend ⌚ upfront taking over and learning ops @ the park than to unexpectedly have 2 jump in & manage down the line.

(8/12)

6. If u r new to the business, determine what size park is right for you, and buy one 50-100% bigger.

Unless very high-end or in a premium location, small parks (under ~75 sites) don't make enough cash flow to pay a good manager and pay yourself handsomely. Go bigger!

(9/12)

Small parks will be harder to sell down the line at a premium to what you paid unless you are buying a total junker at a good price and making it nice and DRASTICALLY increasing income, like 2-3x.

You want to sell to a professional investor, not a hobbyist.

(10/12)

Larger parks sell at a premium to better buyers.

Especially if you are a first-time buyer, you don't want to sell down the line to another first-time buyer. You want to sell with a high probability of execution.

(11/12)

7. Unless you are experienced in construction and confident you can perform due diligence on your own, bring in a professional to inspect each system.

Septic, sewer, waste water treatment, well water chlorination, electric, and all buildings. Have them all inspected!

(12/12)

There are many more lessons learned (and to learn still) but these are the top ones I could fit in 12 tweets. Let me know your thoughts!