RV Park Investing for Beginners: Start Earning Today! | Episode 20 - The Real Estate UNLOCKED Podcast

Episode Transcript
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Joseph Marohn (00:12):
What up everyone and welcome back to the Real
Estate Unlocked podcast.
I am your host, Joseph Marohn,and today we're going to be
breaking down one of the mostexciting and profitable avenues
in real estate investing.
I'm talking about a gamechanging strategy to transform
overlooked rundown gyms and turnthem into cash flowing machines

(00:35):
One of the most rewarding pathsto financial freedom while
simply creating unique spacesfor community and travel.
While simply creating uniquespaces for community and travel
Today we're going to be showingyou guys why you should be
investing into RV parks.
Rv parks are simply dedicatedspaces designed for travelers to

(00:57):
park and stay at theirrecreational vehicles.
They offer amenities such aspower, hookups, water and
sometimes communal facilities.
As more and more people seekaffordable housing and flexible

(01:23):
travel options, the demand forRV parks has continued to
returns, with relatively lowmaintenance costs and the
ability to generate steady cashflow to build long term wealth.
Now, if RV parks is a path inreal estate that sounds like you
should be focusing more on,then stay tuned, because we're
going to be giving you all thegems you need to acquire your

(01:44):
first RV park today.
Now you know how we do it onthe Real Estate Unlocked podcast
.
If we're going to do it.
We got to do it right.
We can't just bring on anyoneto speak about RV parks.

(02:04):
Today, our special guest on thepodcast is Mychele Bisson.
Mychele is a dedicated realestate investor and fund manager
focused on RV park acquisitions.
In the past year, she hasacquired three parks with 500
pads and has two more undercontract, totaling $11 million

(02:28):
in assets.
Known for spotting lucrativeinvestment opportunities,
Mychele delivers strong returnsfor investors while enhancing
property standards and communityengagement.
She is actively pursuing newventures in the expanding RV
market.
Mychele joins us today to showus not only how lucrative the RV

(02:50):
park space can be, but also howto buy them with little to no
money out of pocket to maximizeour cash flow.
So, without further ado I'vebeen talking long enough
Everyone.
If you will, please allow me toformally introduce to you
Mychele Bisson Mychele, what'sup?

(03:13):
How are you doing today?

Mychele Bisson (03:16):
Hi, joseph, it's great to see you.
Thank you so much for thatintro.
That was amazing.

Thank you.
Thank you, I don't have muchleft to say now.
I'm good, absolutely.
Hopefully.
I pronounced your last namecorrectly.
Is that how you pronounce it?

It's Bisson yes.

Bisson Okay, great, great, okay, so the day
is treating you well this Monday.

It is.
It is actually.
We are in the middle of packingsnowstorm for the last four
days and got like four snow, sowe've been locked in our house
for four days actually, whichactually was really really nice.

So sometimes you need that quiet time to get away
and just silence the worldright.

Yeah, no, it was really nice.
We put up the Christmas tree.
I hung out with my youngest, itwas great.

Awesome, awesome.
Well, Mychele, welcome to theReal Estate Unlocked podcast, a
place where we bring value tonew and intermediate investors
by bringing on guests who areextremely knowledgeable, such as
yourself, to cover real estatetopics on a very basic entry
level.
Now, I'm excited about thistopic because RV Parks is a very
interesting business model.
I literally had no idea howinterested I would be in it

(04:22):
until you and I had aconversation about them, so I
know your schedule is extremelybusy and crazy, so thank you for
taking the time to come hangout with us today.

Well, I'm just incredibly honored you invited
me.
But yeah, our conversationstarted with 15 minutes and it
ended up going like two hours.

I know I was.
I was looking back and I waslike man, that could have been a
podcast right there in itself.
We were talking about so manygems on that conversation, so
thank you for that.

Thank you, thank you.

Okay, awesome, so let's just dive right into this
.
So, Mychele, can you start bysharing what inspired you to
invest in RV parks?
Why are they so unique andattractive compared to like
other real estate investments?

Well, I originally actually started in
single family homes and so wehad built up a long-term rental
portfolio and then went intoshort-term rentals because we
were looking for a largercashflow.
And then from there, weactually built a resort in
Scottsdale and you know greatcashflow.
But when we really startedlooking at everything and
started really going throughnumbers, we wanted something

(05:22):
that cashflowed immediately athigher numbers, with more doors,
and something that was agreater return with less
maintenance, and we actuallyfound all of that in RV parks.

Interesting, interesting.
Okay, so for me, and maybe I'mjust on the outside looking in,
but I'm, like Mychele, caught onvery quickly to this and I'm
just curious how are you findingso much success so fast?
Like, how did you become soknowledgeable about them?

You know, what my thing is is that if you're
going to do something,especially in something as big
as real estate, you need tofocus, focus, focus and learn
everything that you can on theone asset that you are working
on.
So I know there are people whoare constantly jumping back and
forth between different things.
I've just found that oursuccess has always been to focus
on one path, master it and thenmove on to the next one, and so

(06:15):
we've done that repeatedly overthe course of the last five
years with our investments, andthis last year did the same
thing with RV parks.
We knew where our path was.
We set out a goal and we justwent for it.
Fully in Like, we moved intothe park, our first park, we
lived there for three months andwe did everything on our own.

Wow, that's incredible.
Yeah, I know what you mean.
It's real easy, especiallybeing in like Pace Morby's
mentorship, to get shiny objectsyndrome, because there's so
many challenges, there's so manydifferent ways you can invest
in real estate.
But the fact that you honed inon this one topic and you just
really dived in and reallymastered it, you know that's
incredible.

(06:54):
Now, did you have any resourcesor mentors that really helped
you accelerate your knowledge inthis space?

You know, I really there wasn't a lot of
information on RV parks when wewent into it, like that was kind
of the thing that I thought wasa little crazy.
There's not really a lot ofgood books or a lot of good.
I mean, there's HeatherBlankenship, who I love and
adore.
She was great.
I get a lot of information outof her.
We talk pretty regularly.

(07:19):
But I think that you know, asin book wise, she just released
a book which has been extremelyhelpful and that was probably
the first book that I found thatactually gives you a lot of
good information.
But going into the space, therewasn't a lot of people doing it
and so we really had to kind offigure it out, figure it out,

(07:45):
and what we ended up doing waswe went to different conferences
and things where there were alot of owners and just started
really networking in the groupsand getting to know different
owners and learning from theirpast mistakes and the things
that they were successful with.

Interesting.
And then you mentionedHeather's book.
Do you know the title of thatbook so we can pop that up on
the screen here?

Yeah, it is actually.
I have it right here.
I think it is campgrounds realestate campgrounds.

Real estate campgrounds.
Okay, we'll make sure to popthat up on there in case anybody
else wants to take a read,because you said it was very
beneficial for you.
Anything kind of stood out inthat book that you, that you
learned on there.

I learned a lot, actually, about the different
types of campgrounds and justdifferent ways that you figure
out whether they're worthinvesting in and things like
that.
But the thing is is that itcame after I had started
investing, so if it would havecome out beforehand, I think I
would have jumped on this asseta lot sooner, but definitely now
that we're in it.

(08:38):
As I was going through the book, there were a lot of things in
there that I wish I would haveknown going in.

Got you Okay.
So then, like for the peoplelike that are out there, like
myself, that don't really knowtoo much about investing in RV
parks, maybe talk about some ofthe key benefits and potential
returns of owning an RV park.

Well, one of the biggest key benefits is that I
know a lot of people that are,you know, deciding whether they
want to do something likemultifamily or RV parks or
storage mobile home parks orstorage units and one of the
biggest assets, one of thebiggest things that RV parks
actually give you is one theygive you the immediate cash flow
, which I find amazing.

(09:18):
As opposed to multifamilies,where it's kind of a longer play
.
You invest, you kind of wait RVparks will give you cashflow
starting from day one.
You can reposition them and putlots of multiple different
businesses inside of each RVpark.
So, instead of like mobile homeparks, where they have
long-term guests, or storageunits, where they don't have

(09:39):
guests at all, or multifamilies,where you're kind of limited,
in RV parks, I kind of have anopen arena to do whatever it is
that I want.
So I've added we have golfcarts on a park that make an
extra $100,000 a year We'veadded ice machines that can
average anywhere between $30,000to $70,000 a year.

(10:02):
You can add in community centersthat you can rent out community
stores for your guests to buythings from.
They love to buy gear thatreminds them of their favorite
campground.
One of our campgrounds has ahuge water slide and arcade and
we sell daily passes for peoplein the community to come in and
use our facilities, which is anadded value.
We also have, like paddleboardrentals, a giant lake where you

(10:26):
can catch and release fish.
We can do anything from dailyto weekly to monthly stays, so
we capitalize on if the economyis not going so great and
everybody needs a moreaffordable place to live.
We're probably one of the mostaffordable places that you can
live in your in any town On theother side, if you know things

(10:46):
are going great.
We also have the nightly andweekly where you can come in and
stay with us for a night or aweek and we actually benefit
from dynamic pricing.

Yeah, that's incredible Because now you've
created not just a space to live, but you created this
experience right for them tohave, and now you've opened up
other avenues and streams ofincome that you can create with
other businesses you can put onthere.
That's thinking outside the boxthere, Mychele.
I like that.
Thank you.

Thank you.
Yeah, we've actually learnedquite a bit just doing different
things.
I mean, one of the things thatwe learned this last year was
that we could sub to and sellerfinance RVs, and so, as people
were selling them, we werebuying them and putting them on
our parks and renting them fornightly stays, and that way
we're, you know, helping thepeople who come in, who have

(11:32):
guests, who can't don'tnecessarily have RVs.
They're renting them from us tostay with their friends on the
campground.

That's smart.
Where are you finding these RVsthat you're able to do a
creative finance deals on?

You can find them pretty much anywhere.
You can find them either onMarketplace, on Facebook.
We have found them from peoplewho have come and stayed with us
or selling theirs because oflife changes and things that
have happened, that they nolonger wanted to travel or
needed to upgrade.

Awesome.
Now what are the first steps anew investor should take when
they're considering investinginto RV parks?

I would definitely say that one of the
first things they should do isthey need to start learning
about the asset.
You want to make sure that youknow kind of the ins and outs of
an asset.
You want to know what you'regoing into, what kind of work is
expected from you in them andwhat you can expect when you go
in.

Got it.
Got it Okay.
Now I know there's RV parkspretty much everywhere, right?
Rv parks are in every state.
How do you know what's a goodmarket or location for an RV
park, and are there any specificcriterias that you look for to
evaluate if it's a good location?

Well, the biggest things that we look for
is one we like to be in atourist area, so someplace that
has like a national park orsomething that has a large drive
of people that come to thecommunity for a reason or two.
Anything that has a largefestival.
One of the things that we dotry to avoid is a place that has
a large festival that's onlyone time a year, because that

(13:02):
limits all of your money intoone week and then you're capped
kind of, on what you can do.
So, like one of our parks is inbranson missouri.
There are 10 million people whocome into branson missouri
every year, so they come in frommarch until december.
That is a solid 10 months ofpeople flowing in and out of the
city, which is amazing.

(13:24):
You want to look at somethinglike that, where there's lots of
things like that, or like oneof our other parks is actually a
destination area itself wherepeople come to, specifically
come to that park.

Got it, got it, okay, and then.
So how many RV parks total doyou have right now?

Currently we have three under ownership, one
under contract, and then we'reworking on a couple more.

Awesome, and where are yours located?
What market are you in?

Right now we're mainly in the Midwest, so we've
got a few in Missouri and thenanother one in Virginia.

And then a couple of the others we're working on
are a little more to the West.
Got it, got it.
So correct me if I'm wrong, butit seems like a lot to handle
for a solopreneur, right.
So what type of team do youneed to put together to
successfully operate an RV park,and is it a good idea to use a
third party management company?

So my thing is is that I think one you should
always go into your asset andfully know it.
So we moved into our firstasset by ourselves and like
learned how to run everythingexcuse me, everything ourselves.
Like we learned backend systems, putting in advertising,
putting in like redid piping.
We did all of that ourselvesfor three months so that we

(14:40):
could really fully understandwhat we were getting into and so
that we could fully go into anew park and know exactly what
it is that we would have to doin order to set a new park up.
And I think that's reallybeneficial because then when you
have managers in your parks andthey talk about a certain
situation or something, you havefirsthand knowledge and you can
say well, I know that you knowthese water pipes do this over

(15:01):
here, or you know this bathroomdoes this, or the back end
system does this, and so itmakes it a lot easier to help
your managers, especially ifyou're not on site all the time,
if you fully understand whatyour asset does and how it works
and runs.
But one of the big things thatwe've done is we have put in
managers that we have foundeither through work campers or

(15:25):
through connections.
I'm very, very thankful thatI've got wonderful friends and
family who are all willing to goon adventures with me, and so,
like right now, I am currentlyplacing my best friend and her
husband as managers in one of mylargest parks.
That's awesome.
Yeah, they're excited to go outthere.
I'm very surprised, but it'sliterally an hour away from
family and it gets them back outto the Midwest so they can be

(15:48):
closer.
They just recently went throughsome family changes and needed
to be closer to family andthrough our parks I was able to
help them do that.
So that was exciting.
As for third party managementcompanies, you know, I feel like
you kind of have to really vestthem and really know them in
and out.
One of the things that I'm notparticularly fond of when it

(16:11):
comes to third party and, um, uh, campground, uh managers, is
they tend to take full controlof your park and I don't feel
like there's a lot oftransparency in that.
Um, I like to kind of know.
I'm one of those people who kindof needs to have a little bit
of a hands-on experience onwhat's going on.
I want to see how my parks aredoing.

(16:31):
I don't want to leave thatfully in the hands of somebody
else.
So I don't know if I'll ever becomfortable fully giving up
control of our parks that way.
But we do have a wonderfulmanager that we actually just
recently moved into anacquisitions part where she is
going to be hired by our maincompany and actually go to
different parks and help trainour managers in our culture.

Yeah, I could see that, you know, because we've
had some bad experiencesourselves with, like using
third-party management companies.
And you're right, a lot oftimes they're like, they're like
completely all hands on, theydon't give you a lot of access
to like the systems and stufflike that, and obviously a lot
of terrible things can go wrongif the relationship goes sour,
right?

So and it's really hard to because, like, if
they have control of all ofyour Facebook pages and your
system and they've put all thosethings in place, the exit is
always a really hard situationif you find that you guys aren't
compatible, and so, thankfully,in the experience that we had,
I kept control of most of ourplatforms myself and that

(17:36):
actually helped when wetransitioned out.

Yeah, and I think , like, as you continue to scale
out, you know, and really buildup you know more RV parks in
your portfolio, I think it'd bewise to possibly even build an
in-house, you know propertymanagement team and then that
way you have that full controland everything's in-house.

Yeah, and that is ultimately the goal,
especially since we have such abig goal in the next two years
to acquire.
We want to be at 10 or 15 parks, so we're going to need an
in-house team that just doeseverything, which is where we've
pulled this new manager andwe've decided that she's now
going to be the one who goes outand trains all of our new
managers.
For us, that's kind of thestart of doing all of that, so

(18:15):
that all of our parks have thesame exact customer service.
They have the same exactonboarding systems.
Everything works exactly thesame, like that was the goal in
that.

Yeah, that sounds like a smart plan.
Now what are the day-to-dayresponsibilities of running an
RV park and how do you managereservations, customer service
and maintenance?

So we actually, depending on the size of each of
our parks, it depends on who wehave on staff.
So all of our parks have onemain manager that keeps
everything going.
So she takes care of all of ourbackend systems.
She ensures that all of thecheck-ins are done.
She makes sure that you knoweverything in the park is
running up and going everysingle day.
All the bathrooms are cleaned,all the facilities are checked

(19:00):
on, all of our maintenance stuffis up to date.
We usually like to keep onemaintenance man on staff.
That's usually at the park atall hours so that if anything
happens there he's on hand rightaway where he can help fix
pipes or fix whatever happens.
And then everything else fromthere is just kind of based on

(19:21):
the size of your park and whatyou have going on at your park.
But we like to keep anassistant manager on as well,
just in case our park managerwants to go on vacation During
downtime.
It's a little easier for them.
They just pick and choose dayswhere they're busy and not busy
and then they take their daysoff as they go.
But during peak season they'reback to back.
So it's you know there aretimes where we have like six to

(19:45):
10 different people checking inat any given time, and so it's
nice to have somebody who cangive them a day off.

Right, right.
And are they?
Are they on site at all times,or are they just on call?

So all of our parks, except for one, has a
manager that's on site.

Got it Okay, that makes sense.

Yeah, and the one that does not is fully
automated and everything.
All of the systems there arestreamlined, so she comes in on
days when it's busy and theneverything else is handled
through her phone on days thatit's not.
But we do still have amaintenance man that is on site
to oversee everything whileshe's not there.

Makes sense.
Okay, so I know most peoplehave no idea where to even begin
looking for an RV park.
I mean, I run a wholesalebusiness and I've never came
across one once.
I mean, we we might find ahouse with a hole in the roof,
with 20 cats in the front yard,but we're not finding these
right.
So where are you finding thesetype of deals, Mychele?
Um, do you and Pace have aninside source or what?

(20:45):
Let us in.

You know what?
I think that it really depends.
A lot of people will do coldcalling.
Prop AI is amazing for all ofthat, so a lot of people are
using Prop AI to do cold calls.
You know, if you personallytravel in your RV, I suggest
talking to the people that runthe campgrounds that you usually
go to.
Eventually they do want toretire and if you show an

(21:08):
interest, that's a really goodplace to start.
Check in your localneighborhood.
Maybe there's an RV parklocally within the next 50 miles
of you that is probably lookingto retire.
You'd be surprised how manytimes that happens, and maybe
it's just you sparking thatconversation with them that will
actually get them to stop andsay you know what?
Maybe we should be looking atwhat our exit plan is.
A lot of these are mom and popsand so what happens is is they

(21:31):
don't plan on an exit.
They started these when theywere younger and they built them
up over the last 20 or 30 yearsand they never thought about,
well, what happens when we wantto get out?
It was always, you know, oh,we're building this and we're
raising our kids here and ourkids will want it, and then they
get to that point and theirkids don't want it, and so you
know, sometimes you sparkingthat conversation is exactly

(21:53):
what they need, and so I thinkthose are really great places to
start for my team in particular, we get a lot of off market
leads and that comes from beingjust in the industry.
People know what we're doingand so they'll have a deal.
Yeah, and they'll come andthey'll say hey, have you met

(22:14):
this couple?
They buy up parks and theyactually like care about what it
ends up looking like, and soone of our big things for our
particular group is we like toensure the seller that we want
to keep your legacy alive.
We just want to make sure thatwe upgrade the bathroom
facilities and make sure thatit's continuing on to the next

(22:34):
century.
But when you come back withyour great grandkids, same
campfire, just a new bathroom.
That's so awesome, yeah, sothat's kind of the big thing
that we have.

Yeah, you get to really build out their dream
that they originally had plannedand, for whatever reason, it
didn't come through, comefruition, you know, and you're
able to kind of put that andpiece it together.
So that's incredible.

Yeah, and it's a big deal for us.
I know that a lot of these momand pops, when they went into it
, they do have really big dreamsand goals and aspirations for
their park and for some reasonor another, they get caught up
in the day to day and theyeither don't have the capital to
do what they want to do or theydon't have the time.
And so we come in with capitaland time and say, okay, you know

(23:17):
what?
We've got systems that we'regoing to place in, put in
managers, and then we're goingto build out what you dreamed of
doing in the first place.
So so it's important for them tocontinue into retirement, keep
most of the money that they'veinvested into it, if not more,
get closer to their sellingprice and actually be able to
live comfortably after knowingthat their park isn't going to

(23:38):
turn into a multifamily afterthey leave.

Now the parks that you have in your portfolio.
Were these all purchasedcreative finance or did you come
out of pocket on these?

No, they were all done creatively, actually.
So we have been very, verylucky to have met great sellers
who have worked with us onensuring that they can retire
comfortably, and so it has beena wonderful thing that we've
been able to go into each of ourparks without any money out of
our own pocket.
We have 100% seller financeddeals, we have hybrided deals,

(24:12):
we've brought in money partnerson deals and now that we have
our fund, we're actuallybringing in investors, and what
we're trying to do is tocontinue buying these parks as
creatively as possible and goingin with as little money as
possible and using the fund toactually reposition them so that
we can get them cash flowing atcapacity as quickly as possible
.

I love that.
Yeah, that's very strategicright there, and you mentioned a
fund.
You started up a fund.
Is that correct?
We did.

We did.
It'll be two weeks ago.
So we are actively bringing oninvestors.
If you want to find it, you canactually find it at Bisson.
But yeah, we brought in this.
It's a $5 to $25 million fund.
We are actively bringing incapital.
We're using that capital inorder to reposition the newest
parks that we've brought on.

(25:00):
Virginia will be one of them,which is the one that I'm
actually heading out to tomorrow, and that one has a large water
park.
It's got a private lake that we, you know seeds that you can
come out and catch and release.
We've got paddle boards, we'vegot playgrounds, we've got a
full arcade.
We're redoing the grill, we'vegot a new manager who's going

(25:21):
out, who's going to start doinglike strength training classes
and weekly walk groups and bookclubs, and actually we have an
entire full calendar ofactivities that go on all year
long.

It's almost like you've created the Disneyland
experience at your parks.

Each one of our parks is different and I love
that because it's just a wholedifferent group of different
avenue of things that we can do.
So that park in particular hasthat.
I mean, we've got pickleballcourts, we've got basketball
courts and everything else, theone that we're under contract
for actually has a marina and afull restaurant that is actually
really popular in the area.

(25:59):
And then we've got cabins andwe've got lots of room to expand
.
So we're thinking of addinglike 200 more cabin and RV pads
and RV pads Awesome, now there'sthere's tons of different RV
parks.

right, you have campgrounds.
There's luxury RV resorts, youknow.
There's seasonal parks.
Which type should a newinvestor in the space target for
their first couple of parks?

You know, I'm not wanting to tell you not to
go big, but I am going to saythat you need to be able to
handle the capacity of what youdo.
You need to be able to handlethe capacity of what you do, and
so I personally don't believeanybody should go for under 50
pads.
But, as a new investor, maybe,try to stay under 100.
Right, you know?

(26:52):
Just because if you startadding too many things all at
once, like the maintenance ofwater slides, that's a lot of
money to like, keep up andmaintenance, to kind of go into.
So if you're going to be abrand new investor and go into
something, I say between 50 anda hundred paths is a really good
place to start Starting.
Noi, we like to start at$200,000 for multiple reasons.
One, we want to be able toreposition the park and rebrand
it.
We're going to need to put inbackend systems.
We're going to have to put themonline.
A lot of these parks don't havean online presence.

(27:12):
Um, and you have advertising.
Um, you have to place a managerunless you want to personally
run the thing forever, which Iwas never in that space.
I don't want to run my parks, Ijust want to know how they run
and I want to place goodmanagers in them.
So making sure that you haveenough to pay a good manager,
because you do get what you payfor and then room to actually do

(27:36):
like what we do, is.
We have a hybrid.
So we keep a certain group ofour pads and we keep them for
long-term guests and thoseensure that the bills are paid
every month, and then everythingelse is vacationers and those
do daily and weeklies.
And then everything else isvacationers and those do daily
and weeklies, and that is whereall of our cash flow comes from.

Now these parks that you purchased.
Was there opportunities to addmore pads onto them?
And if there was, what doesthat cost?
Look like to add a pad andbring on all the utilities and
power hookups and everything?

Well, I think it really depends on the actual
park.
So, yeah, all of our parksactually have expansion
opportunities.
So one of the things that we'rereal big on is just one we want
to stabilize the asset that wehave currently before we turn
around and expand.
Because we want the parks to payfor themselves.
We don't ever want to have tobring in more capital.
We want it to actually justkind of pay for itself as it

(28:31):
goes, and so what we try to dois we try to make sure, like our
Branson Park is a great exampleWe've got five extra acres that
we get to expand onto, but whenwe went into it, the park was
floundering and so we reallyneeded to reposition it and get
it stable, and so we're headinginto a really solid year of

(28:52):
being stabilized and doing areally good job, placing great
management.
We've got now repeat guests.
We've raised our reviews fromtwo stars to I think I just
checked it was like 4.7.
So we're just up to five andwe've got a lot of guests that
are returning or already bookingfor the following year, which
means that our next year isgoing to be phenomenal, and
we've not had it for a year.
December 28th will be ourone-year anniversary of owning

(29:14):
that park, and so now that we'regetting that one stabilized,
now we're considering going backand rebuilding out to the back
ends.
So adding pads to that park andbuilding out the back you've
got to remember when you'redoing that it's not just the pad
that you're thinking about.
You're also adding in theelectricity lines, the sewer
lines, the water lines, um.

(29:36):
Then you have to build theroads that go back there, um,
and you've got to build out anystructures.
So like you're going to needextra facilities, like you're
going to need an extra set ofbathrooms back there for
everybody.
So all of that, you probablyaverage between $15,000 to
$50,000 a pad, depending on howelaborate you want to get.

Got it and then.
So, as far as the actual RVsthemselves, I know you said
you've kind of purchased thosecreatively.
What price are you kind ofgetting those at?

We usually like to stay just under $50,000 and
then take them over sellerfinance.
So the ones that we've actuallypurchased we've done for zero
money out of pocket.
We've sold, financed and takenover loans, and then we've
probably put about $400 intooutfitting them and then putting
them on the market, and theymake us about $25,000 extra a
year per camper.

Got it Okay, and so I know.
Obviously, creative finance isalways for the win.
Right, if you could purchasesomething with no money down,
that's always going to be yourbest option.
But would you say, startingfrom scratch and building an RV
park would be a better approachthan buying an existing one?
Or what would be the pros andcons to each option?

Well, see, so here's.
The thing is that I'm not goingto say that it's a bad thing.
I think that if you can do it,it's a wonderful, amazing thing.
Then you get to build out yourvision.
But when you go back andactually look at it, as I said
before, first you've got tofigure out your plan, Then
you've got to find your placeRight.
So now you've got to buy theland.
So now you're however much thatis then you've got to build,

(31:08):
bring in an architect, becauseyou can't just build it with a
hundred.
You've got to bring in anarchitect and a designer that
will actually help you work withthe city.
Then you've got permits andzoning that you've got to work
out, which can be anywhere from15 to $50,000 themselves.

And then there's the time.
Yes, yep.

Just the time of all of that.
So you know, I mean that cantake like six months to a year
to just get that built out.
Then you turn around and you'vegot to put in all the
horizontals.
Then you've got the water sewer.
Are you hooking up to the city?
Do you need another permit forthat?
How much is that going to cost?
Are you putting in septic?
How much is that going to cost?
You've got water, water lineswhere you're going to hook up.

(31:48):
So you've got to figure out allof that stuff.
Then you've got to put in roads, facilities, amenities, a
clubhouse.
Those are all things that needto be added to your bottom line.
Then, as soon as you get itopen, just because you build it
does not mean they will come.

Now you've got to advertise it, so you're going
to be holding that asset and onaverage, you usually don't break
even on a built RV park forabout three to five years.
Oh wow, yeah, it does soundbetter now that you kind of laid
it out like that.
Yeah, it does sound better tojust purchase it creatively.
Yeah, I know you had kind ofoff topic here, but I know you

(32:24):
had a new development resortthat you build out in Arizona.
How long was that project?
Just to kind of compare.

Two years.

Two years Wow.

Okay, it was two years, and I mean granted, our
problem was is that we also wentover COVID.
As we were building it.
There was a moment where workstopped and then everybody could
only come in in smallincrements, so we could only
have like two to six people onjob site at any given time for a
little bit.
So it took eight months longerthan it was supposed to, but you
still have to do all of youknow the contracting, fighting

(32:56):
with.
You know the HOA, if you happento have one of those, or you
know council or permits orzonings All of those things come
into play.
Then there's keeping yourbuilder on hand, so you need to
physically be there in order tomake sure that things are
running every day do you dealwith hoa, with rv parks?
Um no, not so much with that,just zoning okay, zoning, okay,

(33:19):
got it um hoas.
I just thought of that becausewith where our park is or not
our park, but with where ouractual um resort or it is, is
there's a large HOA area andthey were trying to put laws and
rules on our land and theyweren't allowed to, so it ended
up in a big lawsuit.

HOA would never do that, Mychele.

Come on, I know.
Hopefully they've backed offnow that you know it was
definitely a hassle going intoit, but I'm'm not gonna say you
shouldn't build them.

I'm just saying that at this time it seems less
beneficial for me until you getto a point where you can
actually deal with the risk yeah, I think once you've kind of
built up to like at a pointwhere you're at you, where you
have like a couple under yourportfolio and you're already
cash flowing from those, andyou're like, now let's start
thinking a little more strategic, let's think a little bigger,

(34:14):
let's just go and build one.
Like we have the proof ofconcept, we have the blueprint
down, we have the amenities thatwe're going to add in.
Now you can kind of just buildout your vision, like you said.

Yeah, you know, case in point, like the park,
the fourth park that we'reactually bringing on, that we're
closing on, is a huge expansionopportunity.
It's got, like I said, room for200 more pads.
It is not exactly something wewould have gone into in the
beginning because it is such alarge project and we didn't want
to build.
But now that we've got threethat do really well and they're

(34:43):
cash flowing and we understandthe logistics behind it all, now
we're willing to take on abigger risk.

Makes sense.
Okay, so what makes a park agood deal?
You seem to have the eye for it, so what exactly are you
looking at to determine if it'sa solid deal?

Well, like I said, location, location,
location is always the biggestthing A place where there's lots
of tourists, or become thetourist area.
Like I said, virginia is ourtourist area.
People come specifically forthe park.
So you either need to build thepark that everybody wants to
come to or you need to be nextto something that everybody
wants to come to.
Branson, huge town, we alwayshave a steady flow of people.

(35:24):
We also have a park that'sright off of Route 66.
So it's not necessarily nearsomething, but it is on a route
that is extremely popular andbecause of that, we're booked 95
to 100% of the time.
That one actually does really,really well.
It just constantly.
We're just a revolving door ofpeople all the time, which is

(35:45):
wonderful.
Room to expand is always a goodthing because once you hit your
you know, stabilize and limit,then it's nice to kind of
consider OK, now how am I goingto up more of my revenue?
Like I said, we like to havealways 50 pads or more in order
so that we can, you know, hybridour park and ensure that one
it's consistently bringing incash to pay all the bills, but

(36:07):
also so that we can puteverything else as travelers and
guests come in and out.
We like to start at a startingNOI of $200,000 so that we can
make sure that we're payingmanagement, placing good people
and ensuring that we have a goodcustomer service experience.
We like to start at a 10 cap,at least when we buy, which is

(36:28):
really important because thatmeans that you've got a lot of
room to value add.
And then we like to look atthings that have a lot of
opportunity to value add.
So can we add a propane tank toincrease sales?
Can we add a camp store?
Can we reposition the communitycenter so people will want to
rent it out?
Do we add a pool?
Does it need a laundry room?
Can we add a coin laundry room?

(36:49):
All of our parks have coinlaundry rooms.
Are there other amenities inthe area that are needed?
Do we add an ice machine?
You know something as simple asan ice machine.
You can make $30,000 to$120,000 a year.

That is crazy.

Yeah, and it's a simple ice machine.
Putting in vending machinesinto your, you know, on the
outside of your community center.
It ensures that you know what.
They come home late at nightand they just want a snack.
I would rather capture thosedollars than have them go down
to the local gas station.

Absolutely.

And so those are all things that we look at.
Can we add golf carts?
You know that's a hugemoneymaker.
We only have 20 of them on thatproperty.
They make us $100,000 a year.
Wow, 20 of them.
So we're adding 20 more becausethey're booked 100% of the time
.

So yeah, it sounds like the opportunities
are endless and you're reallylimited on what you can think of
.

You know, yeah, and that's really the beauty of
RV parks is that you really canI mean, you can add tiny homes,
you can add facilities, you canadd many businesses in them, you
can put RVs on them and rentthem out.
One of our facilities weactually had a U-Haul rental
center that was coming out ofthe office.
You can do something as simpleas putting Amazon, you know,

(38:06):
shipping containers out front sothat they can, like, get their
Amazon boxes, and which is justan added amenity that you can
have.
We do movie nights.
So you know, we've got a huge,beautiful community room in one
of them where people during thistime like especially now that
it's Christmas you can go andwatch Christmas movies on the
big screen or one of our parks.

(38:26):
Actually, we have a huge screenoutside and on Saturday nights
everybody comes and they sit and, you know, get snacks at our
grill and then put out a blanketand bring up their little golf
carts and they watch moviesoutside on the grass.

Yeah, I love that .
It just creates a good familyfun experience at these RV parks
.
Yeah, I want to go stay at oneright now.

Yeah, you know what?
It's honestly probably one ofmy favorite assets.
I've been in multiple assets.

Being in my parks is my favorite, so I remember
us having a conversation on thephone and you're like, I
actually went and lived at my RVpark.
Yeah, talk to us about thatexperience.

Um, it was an experience you have to
understand.
I would live on any of my parksat this point, but the first
one that we moved into actuallywas scary.
We had just bought, literallyjust closed it.
I had just kicked out a bunchof drug dealers, it had been
overrun, and so it was a littlescary, but I felt like I needed

(39:31):
to be there, one to learn myasset, but two to ensure that my
guests that were there weresafe, and so it was a really
good experience.
I'm so thankful that my firstRV park was hard.
I feel like it really gave me alot of knowledge.
Going into these other ones,I'm not afraid of them.

Yep, now the other ones seem easier, and I
know they're not easy.
But that experience built youup for that next journey, right?

Yes, yeah, and I do have to say, if you want to
talk about crazy, my first RVpark was, it had drug dealers in
it, there was a prostitute init, there were crazy people
screaming and yelling.
I mean, my husband had somebodyscream at him for like 20
minutes because we moved a swing.

That is crazy.

So you know, I mean just the pure lunacy of
some of these.
I had one person accuse us ofkicking him out while he was on
his deathbed.

Oh, my God.

And the truth was, is that one?
He was actually asked by hisdoctors to move out of the RV
park because he needed to beliving in an apartment in a
cleaner environment.
Um, and he had two large Germanshepherds in a small travel
trailer with him and his doctorwanted him to get rid of the
dogs and move into a brand newapartment because he had health
conditions and so, um, and hewas just a miserable person at

(40:57):
it, just in general, like hejust and I don't think he meant
to be, he just was and so startscreaming at people on the
campground this is our first oneum, and so, about a month in,
and we were finally like youknow, you really just it's.

We're going to listen to your doctors.
It's time to go.
Okay, wait.
So back to the, to the drugdealers are they.

Are they still roaming the campgrounds, or did
you get them out of there?
No, no, no, so we actually.
So one of the big things thatyou find out about campgrounds
is they're all very close knitand they're like their own
little community.
And so right before actually thenight before I closed on the
park, I had told the maintenanceman.
I was like hey, you know, we've, we're building up, we're going
to redo this park.
We want to have a good position.
This park had a history ofhaving cops come into it like

(41:43):
twice a week, that's how bad itwas, and so, um, I told him I
was like you know, we'rebuilding up a lot of community.
You know help, we're getting toknow everybody.
One of the big things thatwe've done is we've actually
reached out to the policedepartment, made friends with
them, and so we've given thempermission to come and train
their canine unit on our park.

(42:04):
I love that and so literallyovernight word got around and
about 1am I had people tell meat 1am that guy was pulling
everything out.
Never came back, scattered likeroaches.
Yeah, never came back, neverasked for a refund.
I've never seen him again, asfar as I know.

(42:25):
I think he moved into the nexttown.
He either moved into the nexttown or I heard that he may have
moved to Arkansas.

Okay.
So, yeah, maybe he took overanother RV park, huh.

You know he may have, I just know that he's not
in mine.
And the nice thing is that inthe community that you're in,
when it comes to campgrounds weall kind of look out for each
other.
In when it comes to campgrounds, we all kind of look out for
each other, and so, like I know,if somebody buys a campground
in the area and it's beenoverrun, people will usually
call you and say hey, so-and-sois cleaning out their campground

(42:59):
.
Don't take any people for thenext week.

That's cool.

And so we do the head right.
Yeah, so everybody kind of getsthe heads up of hey, they're
clearing out.
If anybody is calling lookingfor a long term place to stay
and they're from the area, theyprobably came from this park.

OK, now I know not everybody's going to have
the opportunity to purchasethese creative finance or find
these killer seller financedeals.
What would funding look like ifyou were to purchase one?
You know, traditionally wouldyou be using private money,
maybe a syndication or a fund.
How exactly would they fundthese deals?

So definitely, I would definitely look at
private money.
Syndication always a greatthing.
The thing is is that if you'regoing into these and you're
going to fund them through abank or get a type of loan of
that sort, there are a couple ofthings that you need to have.
So one, you're going to want togo to a local bank.
Most local banks are easier towork with when it comes to these
kinds of assets.
For some reason, the largerbanks haven't caught on to how

(44:00):
great these assets are yet.

I have a feeling they will soon.

I think so, like they're starting to get such a
buzz that they're starting toget it.
I think so, like they'restarting to get such a buzz that
they're starting to get it.
But definitely, local banks arealways willing to invest in
their own community, which Ithink is extremely great, and
you can usually get better termsfrom them.
So, anything that we've everdone, we did do one on a hybrid
where we did bring in a bank, aprivate money partner and seller

(44:25):
financed, and that was actuallyour first park.
The local bank actually gave usthe best terms.
But in order to do that,there's also other things that
you have to have in place.
So one of the biggest ones isthat you're going to have to
have a sponsor, and having asponsor a sponsor looks like
somebody who has experience inthe asset class or something
similar.
So our sponsor had built sevenhotels in the area.

So basically someone to vouch for you.

Correct.
They also have to have a networth of more than the asset
that you're trying to buy andthey have to be liquid.

Got it Okay.

And so those are the biggest things that you're
going to be looking for when itcomes to somebody who is going
to sponsor you in something likethis and you're going to need
one the banks won't let you do aloan with them without one, but
the nice thing about it is that, like our private money partner
sponsored us in our first parkand took us to the local bank,
and because he had done so manydeals with them, they actually
closed our bank gave us thegreatest terms.

(45:23):
They gave us actually 80%.
Most of the time, they onlygive you 60% in this asset class
.
They gave us 80% of the loanand they closed within 45 days.

Incredible.

Yeah, so they were great.

Okay.
So once the RV park is up andrunning and you have everything
pretty much dialed in, what kindof cash flow can an investor
realistically expect?

Well, if you do what I said to do and go with
something starting at 200,000,noi, you should be able to
increase that by 50 to $100,000in the first year.

Nice.

So all of our parks have increased by at least
15%.
I want to say Our smallest parkhas increased by 15% in stays.
Our cash flow has actuallyincreased by $150,000.
The first park and that's oursmallest park, so that's 51 pads
.
The other park that we did, wewere about $100,000 more this

(46:25):
year.
Now that we've taken that oneover and then the other two that
we're doing, we're actuallylooking at getting those.
Our first park we're hoping inthe next three to four years we
get it to be about just under amillion dollars a year.
Our second park, which is oursmallest park, we're hoping to
get that one to half a milliondollars in the next couple of
years.
Our third park in Virginia wewant to get to about one.

(46:48):
Right now it grosses one pointfive, so we do about six hundred
.
Get to about one.
Right now it grosses 1.5.
So we do about $600,000 withthat one.
We want to get that one to be a$2.5 million park.
And then the fourth one thatwe're closing on this month we
actually want to get that one tobe a $7 million a year park.

Wow, yeah, I love that.
You guys created strategies topretty much maximize your
profitability, right?
You know you create all thesedifferent amenities.
You made this fun experiencefrom now.
Are you looking at yourcompetition?
Are they doing anything similarto what you're doing?

I think some of the bigger people are like Blue
Metric, which are more of thecorporates that are coming in.
When it comes to other, youknow, groups that are coming
into buy-in, I haven't seenanybody going to the scale that
we are, but I think that they'llprobably start doing that
eventually.
Maybe they're just starting outand they just need to kind of

(47:39):
get one or two under their beltin order to get to that point.
Heather, I know, has a parkthat does.
I think it's like two and ahalf million a year, so that
one's really good and beautifuland she's got all kinds of
things, and I take a lot ofthings from her and what she
does in her parks, so, and thena lot of them are creativity.
It's just like you know, like Iwas just talking to my new park
manager in Virginia and she waslike I think this next year

(48:01):
let's add cabanas to the poolarea and let's, you know, charge
a fee for them.

And I was like that's a great idea.
It is a great idea.

Yeah, I mean so you know.
Yeah, they were renting outchair seats this last year for
$20 a seat for the day, and nowwe're going to add cabanas and
charge, like you know, 50 bucksfor the day.
So just lots of different valueadd opportunities.
Honestly, the greatest thingabout RV parks is that you
really are limited by your ownimagination.

(48:29):
This last Halloween one of ourparks they did a trunk or treat
and so they use the golf carts.
So people rented the golf cartsthree days before Halloween
from us, paid us money for them,bought for $69 a day, rented

(48:49):
them for three days, decoratedthem, paraded them around the
park and then did a trunk ortreat for the kids.

They paid us for the honor of doing that.
That's so awesome.

So I mean it's great.

Yeah, it is Definitely Okay.
So I think a lot of people andI know I've even including
myself, I've done this I think alot of people confuse like
mobile home parks with RV parks.
So, with that being said, howdo RV parks differ in cash flow
and returns versus somethinglike a mobile home park, or
maybe even storage units andmultifamily properties?

Well, I think one of the biggest ways that
they differ is in the cash flow,because one you know when you
go into like a mobile home park,an apartment or a storage unit,
you pay a monthly fee.
To like a mobile home park, anapartment or a storage unit, you
pay a monthly fee.
So it's like $120, say, for themonthly fee in a mobile home
park or storage unit.
For an apartment, it's $1,200 amonth, right?

Right.

It's one payment Well, mine.
You come in for daily, weeklyor monthly stay and it's all
done on dynamic pricing and soif I have a really busy weekend,
I'm not charging you $69 forthat same pad on a really busy
weekend where I know we'rebooking up really quickly.
It automatically goes up intodynamic pricing.

(49:59):
Now we're charging you $75 apad for the night, and so it
completely changes the game plan.
I'm not going to make, you know, $160 for the month for you to
do a storage unit.
I'm going to make $2,000 onthat same pad in that same month
.

That's awesome.

And so my cashflow is a lot higher,
because I can change the dynamicof my park at any given time.

That makes sense, and are most of your guests
that stay there?
Are they typically long-term?
Are they short-term?
What does that scenario looklike?

So we always have a hybrid.
So we look at our parksindividually and say, okay, if
we wanted to keep all of thelights on, make sure that all of
the bills are paid and all ofour investors get their payments
, what does that look like?
So then we break the park upand say, okay, this is how many
people we need to have in hereall the time, and so like, for

(50:55):
example, we have an 80 pad park,in order to keep all the bills
paid on that one, we need tohave 20 pads full on a monthly
fee.
So we keep 20 pads.
We actually keep 25 pads fullbecause we like to have it
padded.
And they keep all of our billspaid, everybody paid back, all
of our loans serviced,everything is done through them.

(51:19):
Plus they pay for their ownelectricity, so we don't pay for
that.
That comes out of them.
And then the rest of our park,the 55, what is it?
60, 60 other pads, 55 otherpads we rent out for nightlies
and weeklies and we chargeanywhere from $40 to $65 a night
.

Awesome.
Okay, and so I want to.
I want to talk about a littlebit about the red flags.
You know what?
What type of red flags orspecific issues should we be
cautious about when evaluatingpotential RV park investments?

Um, some of the biggest red flags are do they
have septic issues?
Those are probably some of themost expensive things that
you're going to look at, um,don't always tell you right off
the bat.
So you need to kind of do somea little legwork and find out.
Like some of the questions weask is when was the last time
you guys renovated and what didyou guys do?
Um, and so that kind of givesus a good idea.
Then we start asking questionslike you know, if you had a

(52:08):
bucket list of items that youwould do what?
Like you know, if you had abucket list of items that you
would do, what would you do?
And that's kind of when some ofthat stuff starts to come out,
because they'll say somethinglike oh, I changed the septic
system.
Okay, well, let's talk aboutyour septic system.
What's wrong with it?
Flooding flooding is a big onethat people don't always ask
about.
Like you know, you need to knowif you're in a flood zone.
You need to know if there'ssomething like a reverse surge
that is going to happen ifyou're next to a river, because

(52:30):
we looked at a property inColorado and every year there is
a problem with the river thatruns right through it and it
does this overflow and it floodsout part of the park.
Well, you need to know ifyou're going to be down for part
of the season and can youhandle that.
Do you have a bad reputation?
I'm not saying don't go into apark with a bad reputation.

(52:51):
We did that and repositioned itand now it's a great place, but
you need to know what you'regoing into.
Does it have a bad reputation?
Look at reviews.
Find out what people arecomplaining about.
Find out what people think aregreat.
Is your manager horrible?
Is that what one of the youknow?
Is that a main issue that yousee on your review?
Maybe you just need to changeyour manager.
Your bathrooms are always dirty.
Maybe you need to hire a bettercleaning company.

(53:13):
When was the park built?
It'll give you an idea of thesystems that they have in place
and exactly what you need to doit.
Look for their online presence.
Do you need to add a webpage?
Do you need to have a one clickbutton that will book you for
the night?
It probably.
You probably do A lot of parks.
Parks aren't do not have anonline presence at all.
Um, so those are kind of thethings that you need to look for

(53:36):
.
And then you need to find,figure out, what's going on in
the neighborhood, you know.
Do you have large things thatare coming in?
What brings people to that area?
What are the other parks doingin the area?
What are their prices?
Do you have room to expand yourprices?
right so those are huge thingsthat you can look at.

Good stuff, good stuff.
Now I know with my multifamilyunit I'm required by the city of
Dallas to have a COO, basicallya certificate of occupancy,
right Now, are there any permitsor licenses required to run a
park?

licenses required to run a park.
You, I mean the.
The.
The other glory of RV parksagainst multifamily is that we
also have less regulations andless things that we have to go
through, but one of the thingsyou do have to have is you do
have to have a business license,and so you apply for that every
year.
You also have your tax license.
You have to have all that stuffin place.
And so just go into your city,township, your County or your
city and just find out whatthose rules and regulations are.

(54:34):
I mean, we're on a great firstname basis with a lot of the
officials at our city, justbecause we like to know who
we're working with.
And actually one of the thingsthat we found out when we bought
our first park was that theyhad rezoned it into a non RV
park and so we had to get itrezoned back.

I wonder why they did.
Why did they do that?

It was just a mistake on the previous um from
the previous owner and also theprevious administration.
They'd gone through andactually sent out postcards to
everybody stating that they wererezoning things and that you
needed to reply to this postcard.
Well, the previous owner didn'tget the postcard or didn't send
the postcard and never didn'treply in time.
So they just kept going.
And then the owner that webought it from actually didn't

(55:13):
have a business license on it,so he never found out that he
wasn't supposed to be there.
And that is one of the thingsthat you do have to be careful
with with mom and pops is thatyou know, sometimes they've had
these parks for so long thatthey've kind of slipped under
the cracks of the rules andregulations and then when you go
in you find out that theyeither don't have a business
license or they're not zoned.

Okay, Now in your experience, Mychele, what has
been the best way to market yourRV parks and attract guests?

One of the best ways that I've seen is
definitely from other guestsMaking sure that you land in the
top searches with Google.
Good reviews are amazing.
Like to bring in a thing calledcampground views, where they
actually come in and they willmap out your park, but they show

(56:03):
you video.
One of the biggest reasons whypeople will leave a park in the
first night is because theydidn't get what they expected,
and so if you have a really goodvideo on what your park looks
like and what to expect when youcome in, you have a less likely
chance of somebody leaving andasking for a refund.

That's awesome.
Yeah, that's a good ideaactually, to put like a whole
video together and just havelike this whole visual
experience of what you canexpect when you get into this
park.
That way, when you get there,you already know what to expect.
You know what I mean.
So, yeah, okay.

And that is definitely one of the biggest
things is that a lot of peoplewill come into and they'll not
get what they expected andthat's why they don't want to be
there anymore.
And so, if you can have themlike, they'll come in.
Campground views is great.
They actually start from yourentrance and they will actually
go through and show you each padas you're driving through, and
so everybody knows exactly whatthey're getting, they know

(56:59):
exactly what they're coming infor, they know what every
facility in the park looks like,and it gives that there's no
questions.

OK.
So what's the end game?
What is your exit?
Are these like long-term holdsor is your plan to build them up
and then eventually sell Like?
What is your plan with these?

Well, I think it depends on each park.
So what we're doing with ourfund is right now it's a
five-year hold, and so we wantto buy 10 to 15 parts with our
fund and actually be able toreposition them and get them to
the highest cash flowing that wecan possibly get them at.
And then we will evaluate eachpark as they come, as they
mature, and at that point whatwe'll do is we'll decide which

(57:38):
ones we keep and which ones wesell.
If they're cash flowing well,what we'll end up doing is we'll
actually roll it into a fundtoo and give our investors the
option to invest in the secondfund so that they can continue
to grow their money with it.
And then, if they're, you know,at a point where they're pretty
maxed out and we can't cashflow them more than what they're

(57:59):
at and we don't know, and wewant to acquire more assets,
then what we'll do is we'll justsell them and you know, cash
everybody out with that.

So Got it, so it's more lines of.

we always think of the end goal.
The end goal is to cash flowthem as much as possible, but if
they are not performing to thestandard that we want them to,
or if we feel like we have anopportunity to take on another
asset that will perform better,then we'll sell it and reinvest
that capital into something else.

Makes sense.
Okay, so if you could take theknowledge, that you have right
now?

go back and talk to Mychele before she bought
her first RV park.
Would you do anything different, and what single piece of
advice would you give yourselfto be?
love that I'm supposed to bethere, like I feel like there's
just this thing in the universethat whatever is meant for you
is always going to happen foryou, and it's always that way.
Um, so I don't think I wouldchange anything.

(59:02):
I'm actually very pleased withhow fast we've moved.
Um, I'm very much an activatorand I just jump in full force.
I think that if I were to giveadvice to anybody on the other
end of this who is starting out,my biggest piece of advice is
just to jump in and do something, and you know, imperfect action

(59:24):
is always better than perfectaction not taken.

Yes, Stop overthinking over thinkers.

I'm going to tell you like everybody sits
here and they're like, oh my god, I can't believe how fast you
moved.
The only reason we moved fastisn't because I made perfect
choices or perfect decisions.
The reason why we moved so fastis because we were okay, being
imperfect yep, I love that yeah,and that is honestly the
biggest game changer is justknowing when to just make action

(59:52):
happen and just do itimperfectly and learn.

You could have sat on the sidelines and thought
I'm just going to read anotherbook or I'm going to watch
another video on RV parks, andmaybe in a year I'll be ready.
And look, you could have heldyourself back and you would have
never accomplished what you'veaccomplished.
You know, like you said, takeimperfect action.
Who cares?
You're going to make mistakes,even the best of the best.
Make mistakes, right.
Just get out there and takeaction.

Mychele Bisson (01:00:18):
Yeah, I mean, I'm going to tell you never been
in an RV park, never owned anRV, never even knew they existed
before I bought my first oneand now I'm closing in on five.
We've increased our net worthby $20 million this last year
and we are buying parks that arelike $11 million at this point.
So imperfect action beatsimperfect action, not taken

(01:00:42):
every single time.

Joseph Marohn (01:00:44):
Life-changing yeah.
Okay, Now for those who areready to take action today,
what's the next step they shouldtake right after listening to
this episode?

Well, the first step, I would say, is go out to
my webpage, Mychele.
I do workshops, we do webinars.
You can also invest in our fund.
You can find all thatinformation there.
If you're not a part of theSub2 community and you want to
learn about creative financing,you also have a link out there
that you can join, which I thinkis amazing, because I learned
so much about creative financing.

(01:01:15):
Learning that I could buyassets without any money was
mind blowing to me.
Yeah, just completely lifechanging, like I wasted so much
time buying thingsconventionally.

You live and you learn.

You live and you learn, but you know what?
It's all part of the process,it's all part of the journey and
, honestly, my biggest advicealways goes back to just jump in
and learn and do something.
Don't sit on the sidelines andread another book.
Don't say I'll do it in a year,you won't get to it.
Something always happens.
Something always changes.
The market is never perfect,you know.

(01:01:52):
People always say that too.
They're always like well, I'mgoing to wait till the market
gets better.
I'm going to tell you this lastyear, everybody complained
about the market and it wasprobably the best time to get in
, because I am positioned forthe growth and I'm positioned on
either side.
I can take people when timesare bad, I can take people when
times are good and I'm going tocash flow either way, because I
took action.

Especially with creative finance.
We don't care what the market'sdoing.
We're capitalizing.

Yes, yes, absolutely.

It is the biggest game changer Awesome.
Well, Mychele, you're anabsolute badass.
You've accomplished so much insuch a small timeframe and I can
only imagine where you're goingto be next year, let alone
another four to five.
I'm truly honored to be a partof the same tight knit community
as you and also have thepleasure of calling you a friend
.
So thank you.

Thank you, I have the honor of calling you a
friend and thank you so much forinviting me on.
This was so much fun and Ienjoy talking to you so much.

Same here and, by the way, I am planning on
making it to one of your nexttwo day workshops as well, so
hopefully I'll be seeing you andPatrick soon.

Yes, absolutely.
I think we're going to hold onein Scottsdale next.
But yeah, I can't wait to findout that you're under contract
on your first park.

I will be doing it.
You will be hearing soon, so,okay, perfect.
So, Mychele, where can peopleget ahold of you?

Definitely find me on Instagram at Mychele.
It's M-Y-C-H-E-L-E-B-I-S-S-O-N.
I do answer my DMs if you'recurious, so that would be one of
the best places, and you canalso, like I said, sign up and
be a part of my webpage.
So one of the things aboutbeing in my workshops is that

(01:03:27):
you get to be a part of my dealsthat we actually don't take,
but are still good deals throughthere to my students.
So Awesome.

Now, if you guys are finding value from this
podcast, don't forget to showyour boys some love.
If you like what we're bringingyou, don't forget to subscribe.
It helps us continue providingvalue to others by reaching a
broader audience.
We're out here to serve, learntogether and help as many people
as possible, so it'd be muchappreciated.
Make sure to also smash thatlike button and drop a comment

(01:03:59):
down below telling us what youfound most valuable from this
topic.
And, if you're ready to diveinto the RV park investing
yourself, appreciate all thecontinued support.
And, guys, stay tuned, becausewe're pumping these episodes out
every two weeks.
I got some awesome topics andguests coming up next that will
change the entire way you dobusiness.

(01:04:20):
You definitely don't want tomiss out.
Best believe i'ma keep bringingyou that fire Peace.
Thanks, Mychele.

Thank you.

Thanks for watching.

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RV Park Investing for Beginners: Start Earning Today! | Episode 20

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.css-14f5ked{margin:0;word-break:break-word;display:-webkit-box;-webkit-box-orient:vertical;box-orient:vertical;-webkit-line-clamp:2;overflow:hidden;}RV Park Investing for Beginners: Start Earning Today! | Episode 20