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SELLER FINANCED CAMPGROUNDS

This is a business-financing technique in which a buyer borrows from the campground seller instead of, or at times in addition to, a bank. It is sometimes referred to, or called owner financing, land contract or purchase-money mortgage.

A campground seller agrees to finance a portion of the sales price over a specified term at a specified interest rate. If the campground seller is doing seller financing on the entire amount, the buyer pays a down payment up front, to the seller directly, and continues to make payments according to the agreement with the seller.







$4,200,000 3322181

People come from all over the country and Canada to ride their ATVs at this family friendly solid business. Over 84 miles of recreational trails on 877 acres of land cover the full spectrum of riding skills from beginner through advanced. What really sets this destination park aside is the underground riding through abandoned limestone mines 250 feet underground. These mines provide matchless thrills with underground lakes, total darkness and numerous surprises that help make each journey unforgettable.


$4,200,000 828215

This upscale RV resort offers a temporary or permanent “up north” retreat for guests. Individual RV sites are available for purchase and can be rented on a daily, weekly or monthly basis. The area is filled with clear and sparkling lakes and rivers, miles of sandy beaches and scenic vistas along Lake Michigan, quaint marinas and harbor towns. It is truly a water lover’s paradise.


$2,750,000 3311407

RV Resort development opportunity 10 miles inland from a popular beach city. Plans and permits are in place for 269 full hookup lots on 112 acres. Phase I completions include storm water management system.


$2,390,000 438457

Immediate walk-in opportunity, an ultra-clean, highly profitable campground comprised of over 600 acres of forested land and lakefront on four lakes! Proven, seasoned staff and sold-out seasonal camper base. This campground has mid- long term investment opportunities. The sale includes an engineered CAD drawing of campsite placement for over 2,500 sites, a 2017 property survey and clean 2017 Phase 1 Environmental study. This property is a Northern Michigan cozy, casual outdoor family resort with a positive reputation for being well managed, ultra clean with a friendly community of campers. Referred to by its guests as their "home away from home" it is located on one of the largest privately owned forested tracts of land in northeast Michigan.


$1,350,000
421440

This campground offers convenient access to Lake Erie for fisherman. There is ample room for boat storage on the 220+ acre property. Guests can save on marina fees by keeping their boats on site and driving 5 miles to the boat launch on Lake Erie. The 96 metered sites are large and accommodate boats on nearly every site. This established business is easy to operate with sites rented by the season only. The owner keeps two sites available for family and friends. The park has a waiting list, and there are 190 acres available for expansion. 400-500 sites could be added.



$795,000
421295

2018 GROSS $229,571! Profitable park near an Interstate junction that brings people from all parts of the country. Revenue sources include the RV park, propane sales, pub, Laundromat and store. The park features almost 15 acres and 66 sites, including 49 full hookup.


$479,000 3322911

Built in a central location that is an easy walk to the antique shops and restaurants which make up annual antique shows, as well as the year round antique community in the area. 14 acres of well-manicured property accommodate 34 FHU sites, 5 rental trailers, electric sites, and a large field for tent campers. A 32’ x 194’ steel clad pavilion is rented for gatherings and profitable on-site antique events that are the park’s largest source of revenue. The business hosts at least 6 rallies each summer as well as 2 large antique events. This is a turnkey property with a truly built in customer base. There are options for hosting more events and site expansion. This business is an ideal semi-retirement job that requires only 4 and a half months of hands-on management.




Why would an owner offer
seller financing on a campground?

Many potential buyers just don’t have the necessary capital or business lender resources to cash a seller completely out.

Even if they do, they might be reluctant for what they consider an untried new venture in unknown waters. When that buyer opens the doors to their lender of choice, they will find many hoops they need to go through and many personal documents they will need to supply. Of course they will reach into resources for the down payment the lender requires (20% to 30%) – and added to that will be extra costs – like document prep fees, etc. It is a common misconception in this industry for a seller to assume that if a buyer has a great credit score and the necessary down, it’s pretty much a “done deal.” Not so. The entire business will come under a magnifying glass as much, if not more, than the potential buyer. In order to sell a campground it will have to appraise at agreed sale price or more, or the lender will not open the vault. In the meantime, the seller are “mentally packing” with fingers and toes crossed, hoping the lender says “yes” many weeks after the application process is first started. With lenders experiencing recent losses from escalating housing foreclosures, they are very cautious about lending money right now. They’re requiring more i’s to dot and t’s to cross.

With seller financing a buyer and seller can “get creative” to each others advantage. The agreement can be “interest only” payments, for a part, or full duration of the time frame before a balloon payoff is due. If a buyer has intentions of investing in something to bring in needed revenue to support the business, the agreement can contain escalating payments each year for the duration of the agreement – even adjusted interest rates (starting lower, and each year increasing one half to one percent). The balloon term can be as few as 3 years before the balloon payment is due in full, or the loan can run the full course of years until the entire balance is paid off. This creativity often makes seller financing attractive to a buyer and seller.

If you desire to have any amount calculated in amortization forms, please do not hesitate to call. Our intent at PARKS AND PLACES is to insure you understand all the “doors” available to you toward the goal of buying or to sell a campground or to sell an rv park.

PARKS AND PLACES INC :: Phone 616.301.0765 - Email sales@parksandplaces.com - FAX 616.431.4140
Florida Office :: 2937 Brandemere Dr, Tallahassee, FL 32312
Michigan Office :: 1734 Timberlane Ln NE, Grand Rapids, MI 49505

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