In today’s episode, we have the pleasure of speaking with Don Spafford, an RV park expert, to continue our exploration of this unique and growing asset class. Whether you’re an active or passive investor, you’ll find valuable insights and tips to help you understand the ins and outs of RV parks and campgrounds. Don guides us through the underwriting process, discussing factors such as rentals, weeklies, seasonal, and more. He explains the importance of being conservative in projections and shares how to look at the past three to five years of data from an existing campground to make informed assumptions.
Listen in as we discuss the various aspects of analyzing an RV park investment, including researching competitors in the area and factoring in salaries, insurance, and other income streams. We also touch on other considerations such as nearby attractions and potential inclusions in the sale, like equipment or amenities. Furthermore, Don enlightens us on the emerging trends in the RV park industry, including upgrading electrical meters and accommodating the needs of younger generations who are embracing life on the road.
Finally, we discuss how to overcome investor fears and the importance of networking and building strong relationships with high net worth investors, family offices, and private equity firms. Don also shares his personal habits that have contributed to his success in the business and his passion for giving back to the community. And, of course, we touch on the role of social media in real estate investing and how to connect with potential investors through various platforms. Don’t miss this informative and engaging conversation with RV park expert, Don Spafford.
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About Don Spafford
Don has worked in a variety of industries and possesses extensive management experience. His current role in the Financial Industry has complemented the knowledge he acquired through his education and degrees in Finance, Banking, Portfolio Management, and Accounting.
Moreover, he harbors a strong interest in real estate investing, encompassing both residential and commercial properties. He also engages in property management, currently owning three 4-plexes—one managed in Idaho and two in Arkansas. Additionally, he is currently involved in the development of a new NNN commercial property and is actively seeking capital partners to pursue similar opportunities. Collaborating with other partners, he participates in multi-family syndications, focusing on large value-add acquisitions.
His areas of expertise include problem-solving, analyzing rental properties for optimal returns, proficiency in Excel, and fluency in Spanish. He takes pleasure in engaging in conversations with fellow investors.
His wife, affiliated with Keller Williams as a Realtor, holds experience in working with real estate investors. Her clientele predominantly comprises out-of-state investors. They are more than willing to assist individuals in buying, selling, or investing in real estate. The couple finds gratification in helping others achieve their financial aspirations through real estate.
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