Why RV Park - are a great investment opportunity!
INSIGHT ON THE CAMPFIRE FUND
Investment Type 506(c) Reg D For Accredited Investors
Climb Capital Team
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frequently asked questions
Mobile home parks have long term tenants at a low price point, often considered affordable housing. RV parks are destination mini-resorts attracting a temporary user base and provide a shorter term hospitality service. We still own only the land, but our tenant base generally has a vacation mindset instead of a resident mindset.
Right now, there are existing RV parks owned by small independent operators with inefficient systems, additional land to expand, and insufficient capital to up fit their properties. We will look to develop our own parks in the future but at the moment we will continue to purchase under-performing parks and install our processes with relative ease.
No, we don’t see this as a significant threat. Pricing may affect the way people drive and travel as a whole, but people are always going to take vacations – they may just choose to take a weekend trip to an RV Park nearby, rather than going on an elaborate vacation across the country. This is why we buy in the Sunbelt and close to population centers.
We add amenities like man-made lakes, in-ground pools, and club houses. We buy parks with additional land so we can add more pads and we buy tiny homes to install in the parks so we can rent additional rooms on short term rental sites. We are usually buying RV parks with inefficient management and marketing which allows us to make their booking process easier and raise our nightly rates. Since most of our guests are short term customers perceived small increases in price do not affect the customer but have a significant increase in the NOI and valuation.
C class Multifamily is becoming competitive, saturated, and the margins are thinning. We don’t mind moving to RV parks as it let’s us capitalize on a fast growing opportunity before it becomes mainstream.
FUND SPECIFIC QUESTIONS
We will collect 50% of your investment upon commitment. Throughout our capital raise, we will do multiple capital calls as needed.
The fund will remain open until it is fully funded or June 1st, 2023 whichever comes first. Principle is returned at capital events like property sales or refinances.
Yes, we will send out thorough monthly reports and updates to our investors for each of the properties.
You will receive your pro-rata share of the portfolios aggregate deprecation. We will also pursue accelerated deprecation strategies where it’s most suitable. We recommend that you always consult your tax advisor for your specific tax benefit analysis.
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