I Bought a $5M RV Park With NONE of My Own Money

In this video, Pace Morby breaks down the incredible story behind his latest acquisition: Glacier Peaks RV Park in Columbia Falls, Montana. Purchased for $5 million with no money out of his pocket and no credit check, this deal is a prime example of Pace’s mastery in creative finance. Want to know how you can buy an RV park too? Pace answers frequently asked questions he gets daily!
Pace reveals the details of the deal: $5M purchase price, 5% down, with the $250,000 down payment coming from a private money lender. The park features a lot more amenities than the first RV park he bought down the road (from the same seller). Since this park has more benefits than the other one, Pace plans on improving the management and marketing around this park, as the previous owner failed to grow the park’s online presence.
Learn about the SBA loan Pace took over subject to and the seller-financing portion of the deal. Get the inside scoop on the loan’s duration, the seller finance structure, and Pace’s exit strategy. He found this deal on Crexi.com and shares how he educated a broker and the seller on creative finance.
Curious about the difference between mobile home parks and RV parks? Pace explains the distinctions and gives advice for beginners on what kinds of deals to target. One tip he and his students offer: partner with experienced investors. If you’re not in the SubTo community or coming from RUclips land, make sure you know what you’re getting into if you want to buy an RV Park. He highlights why RV parks are in his top three investment properties: they offer affordable housing solutions, cost-effective management, and excellent revenue based on cash flow.
Don’t miss out on this valuable insight into creative finance and real estate investing! Drop your comments and questions about RV parks below, and stay tuned for more videos on this Montana RV Park in the future.
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Chapters:
0:00 - Intro
1:04 - RV Park Deal Breakdown
2:01 - Marketing the Park
3:33 - Why Was the Seller Selling?
4:25 - Subto-ing an SBA Loan
5:01 - Structure of the Deal
5:52 - Where to Find Deals Like This
8:32 - Mobile Homes vs RV Parks
8:48 - Should I Buy an RV Park?
11:03 - Why I Like RV Parks
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⚠️ #CreativeFinance #Investing #Wealth #RealEstateInvesting #Wholesaling #SubjectTo #HowToGetStartedInRealEstate ⚠️
🚧🚧🚧 DISCLAIMER 🚧🚧🚧
Pace is not a CPA, attorney, insurance, contractor, lender, or financial advisor. The content in these videos shall not be construed as tax, legal, insurance, construction, engineering, health & safety, electrical, financial advice, or other and may be outdated or inaccurate; it is your responsibility to verify all information yourself. This is a RUclips video for entertainment purposes ONLY.

[@jasonbollman]

I'm looking at a couple parks, up North similar to yours. I'm concerned with the occupancy during the winter months meeting the loan payback requirements. I'm asking for a breakdown showing the historical cashflows. Also looking at some down south with more solid year-round traffic. Can you share more info on this property and what operating costs look like?

[@DrakeStupavsky-jr2rs]

Great vid homies! love the community interaction, live audience freaking sweet!!

[@barbarawhiteside9562]

What's the total monthly payment with the sub 2 seller financing and private money? What's the monthly income? Curious about cashflow on this. What type of expenses does a biz like this have regularly? Do you depreciate a property like this for tax savings

[@maddumass]

I have no idea. But I'm thinking the private money lender is getting all his money back quick with that 10%! Hopefully Morby doesn't call you an askhole...

[@barbarawhiteside9562]

I can handle it. Cashflow is important to know unless you want to buy an expense

[@DebtFreeDoctorJeffAnzalone]

We just bought Moosecreek RV Park not far from you!

[@carolynstrachan1416]

As always, awesome information!

[@PaceMorby]

Glad it was helpful

[@rickcampbell4920]

I hope there is a lot of campers in the winter in Montana!?

[@Mastercookiee]

To even work with a hard money lender you need 40% down or more well in California, how you even get a property owner to even work with you with no real estate experience?

[@DonabelleDHalopoff]

Finding bunnies (seller’s problem you want to provide solution for.) and leveraging someone’s experience as well.

[@rideordietheyretring2tranx382]

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