Real estate investor Pace Morby recently said that he bought a $5 million RV park without putting any cash down and earns $20,000 per month from the property. He used the example to demonstrate the investment opportunity in RV parks and shared how others can capitalize on this under-the-radar asset class, according to Yahoo Finance.
“The market of RV parks is going to triple over the next 10 years,” Morby said on his YouTube channel.
Morby quickly shared some of the benefits of buying RV parks instead of the more popular multifamily route. This property class can help investors minimize their time on site and save money on various expenses associated with multifamily and single-family properties.
“I rent dirt,” Morby said in the video. “When our tenant leaves, the worst thing we have to do is rake some of the rocks.”
Morby then explained that he has single-family homes and had to sink a lot of money into them for repairs, and those investments minimize cash flow. However, RV parks don’t require nearly as much maintenance, allowing investors to keep more of their rental income.
Morby discussed how he landed the $5 million deal for an RV park with 85 RV pads, 40 self-storage units, and 20 cabins. It’s in Kalispell, Mont., which is close to Glacier National Park.
Watch the full YouTube video below.
