Christian Osgood bought an RV park in rural Washington for $300k with $600k in debt, then added new signage, fixed the septic system, and opened waterfront spaces. An appraisal now values it at $1.5 million, and it's under contract to sell for $1.1 million.
Chapters
Here at the RV park, I bought this 200% financed. We just got the new signage in. What do you guys think? I found bright colors, especially blue, seems to actually increase our leasing abilities by just getting a new sign here. We just finally cleaned up the park. There's all this ugly storage here. We're just about to get the last shell of a storage unit out, but cleaning up the park so it actually looks nice. We bought this thing, it was an absolute mess, needed a new septic. We bought it for $300,000. With $600,000 in debt, eventually did refinance it and are currently under contract to sell it for $1.1 million. So as RV parks go, this thing was a dump when we bought it. It is turning around, getting much nicer. The other buyers, there's still a lot of upside on this. Appraisal came in at $1.5 million. That's before you come in and finish the renovations, clean it up, and do a little bit more leasing. We just opened up a few more spaces here. So I mean, you got nice covered spaces right off the waterfront there. They're gonna make a killing, but we're ready to move on. I invest in Texas now. Uh, this is in the middle of nowhere Washington, so on to the next project. Success.