Question RV lot ownership

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Joined
Nov 14, 2019
Messages
734
Location
Orinda, CA
TOW/TOAD
2015 Jeep Trailhawk
Fulltimer
No
We recently spent a week at motorcoach country club in Indio,CA and it’s a beautiful place but insanely expensive to buy into for something that is seasonal. Apparently way too hot in the summer and empty. The hoa was 550/mo and you have to pay $1500 a season as an owner for the restaurant which has a pricey menu. We thought for a second about buying but our better minds prevailed as neither of us are retired and we wouldn’t get the full use out of it. The weather was fantastic however it seems to me that going lots of interesting places is the purpose why we have RV’s versus staying put. Some do both I am told.
  1. how many have an RV lot they own and how much do you use it? Do you go for months or short periods?

  2. Are you able to rent it when you aren’t using to offset the annual cost?
 
Joined
Nov 15, 2019
Messages
281
Location
SW Florida
RV Year
2017
RV Make
Newmar
RV Model
Ventana 4369
RV Length
43
TOW/TOAD
Tandem Tow dolly
Fulltimer
Yes
This is always a hot topic around the "patio" during our winter stays in SW Florida. We have toyed with the idea of purchasing an RV lot on several occasions but never pulled the trigger. Last month we toured a newer RV resort (Golden Palms Motorcoach Resort, Rt. 82, Ft Myers). They are about 1/4 developed with a bunch of large lots available. By the time we would pave our lot and have the 500 square foot coach house built we would have well over $200,000 invested.

Factoring in HOA costs, insurance costs, property taxes, and lost interest on the $200,000 we really wouldn't be any better off than renting for $5,000 to $6,000 each winter. Now if you could hold that property for 5 years and sell it for $200,000 or more than you could come out better.

I guess what has always kept us from doing it is we want the option of going different places for the winter months.

There are certainly pros and cons.
 
Joined
Nov 2, 2019
Messages
2,584
Location
WA, MT or somewhere else!
RV Year
2018
RV Make
Newmar
RV Model
Mountain Aire 4047
RV Length
40'
TOW/TOAD
2014 Honda CR-V
There are lots of pros and cons to be considered when thinking about buying an RV lot. How you intend to use the property will go a long way toward sorting them out.

We own a lot at Polson Motor Coach Resort in Polson, Montana, and went through all the considerations before buying. We love Western Montana and would probably live there full time if it wasn't for family connections in Washington.

One of the most important financial considerations is resale should the need arise. We bought at a very good price from a motivated seller at a good time. And, since we rent the lot out when we are not there, we have consistently been able to cover our annual costs (taxes, utilities, HOA fees, maintenance, etc.). Because we did not have to finance our purchase, we do not have to factor in loan payments, but that would certainly be a consideration for those who do. While there is not as much appreciation in the value of an RV lot vs a sticks-and-bricks, there can be some. Our lot would sell for significantly more than we paid for it, but we "bought it right."

TJ
 
Joined
Nov 14, 2019
Messages
734
Location
Orinda, CA
TOW/TOAD
2015 Jeep Trailhawk
Fulltimer
No
That’s excellent insight @TJ&LadyDi . It was interesting when talked to people there is there were a few motivated sellers willing to sell at a loss which was concerning. Some were from Canada and with the exchange rate as it is, it’s probably expensive to come here Some were selling furniture cart etc along with holding the note thrown in to motivate buyers. One thing that was interesting about mcc is a non owner can only stay 30 days max a year so in the event you wanted to rent it for a season to a single party, that’s not an option.
 
Joined
Nov 2, 2019
Messages
2,584
Location
WA, MT or somewhere else!
RV Year
2018
RV Make
Newmar
RV Model
Mountain Aire 4047
RV Length
40'
TOW/TOAD
2014 Honda CR-V
We have found that the most common turnover factor in RV lots is "aging out." Owners get to an age where they are no longer comfortable driving a motorhome, or living in one for a significant period of time, and decide to sell. We also found that most sellers of RV lots tend to over-value (over-price) their property. When it sits on the market for a while, many will entertain lower offers; especially cash offers that get them out from under their obligations cleanly and quickly.

TJ
 
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