Christian Osgood and partners bought Tidewater RV Park for $300,000 with zero down, financed the full price plus $300,000 in renovations. After fixing the septic, well, and clubhouse, the park now generates $8,500 monthly and appraised at $1.6 million, creating $1 million in equity with no cash invested.
Chapters
I'm here at Tidewater RV Park. We bought this for $300,000, put $300,000 into it, financed the entire thing, so bought this $0 out of pocket, 200% financed. We did a new septic system, we did some minor fixes to the well, a ton of landscaping, and we fixed the clubhouse. This thing was falling apart. Replaced the subfloor, did new flooring, fixed the bathroom in there, and added actual working laundry machines that are serviced by a company in the area. So it's no work for us but an additional revenue stream. Now this is a nicer place to live, everyone pays. We do a fantastic job leasing up. Cash flow is $8,500 a month. And appraised for $1.6 million. Doing the math, if I put $0 into it, we're all in $600,000, but it's worth $1.6 million. We just made a cool million dollars. That's how you play the RV park game. Just another type of multifamily.