102: $10M Profit On Her First Deal?! It's Possible with Campground Investing

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 7 August 2021

⏱️ 57 minutes

🔗️ Recording | iTunes | RSS

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Summary

Heather Blankenship was on a road trip from Florida to California, stopping at RV parks and campsites in between driving. She saw how busy these parks were and thought it would be interesting to own one. On her way back to the east coast, she ended up buying a campground in Tennessee for over three million dollars. She had no experience, no team, and no money. Now, that campground is worth over thirteen million dollars! Although Heather was just 26 at the time, she was able to quickly adapt to the learning curve that the campground presented her. She grew her knowledge and skill set and now oversees around thirty million dollars in RV parks and campgrounds. We talk about the many different streams of income that a campground or RV park owner can cash in on, how to score financing when buying commercial properties, what to look for in your due diligence phase, and how to underwrite these massive deals. For beginner investors, this can seem like a huge task, but Heather proves that even with no experience, you can put in the work to make massive financial leaps like she did. In This Episode We Cover The benefits of owning a campground or RV park How commercial real estate differs from residential real estate Financing big deals through bank loans and seller financing Looking for commercial BRRRRs and value-add opportunities Long-term parks vs. short-term parks and the benefits of both Developing systems that leave you less reliant on third-party businesses And So Much More! Links from the Show Real Estate Rookie Youtube Ashley's Instagram Tony's Instagram Real Estate Rookie Facebook Group BiggerPockets Calculator Rookie Podcast 100: Why Brandon Turner Encourages Rookies to “Start Small and Scale” Rookie Podcast 101: Campgrounds: The Investment You’ve (Probably) Never Thought About Google Ads Biggerpockets ARVC Campspot Software Airbnb Vrbo Slack Check the full show notes here: https://www.biggerpockets.com/rookie102 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is Real Estate Rookie, episode 102.
0:04.0	I was successful because I didn't know I shouldn't have been.
0:09.2	I should have never asked for that loan.
0:11.7	I shouldn't have bought something I knew nothing about.
0:14.5	But it's worked out really well.
0:16.6	It was, like I said, $3.2 million when I found it,
0:20.4	and now that property is worth $13 million.
0:25.4	My name is Ashley Care,
0:27.0	and I am here with my co-host, Tony Robinson.
0:31.2	And today we had such a fun guest on
0:34.5	and a very unique topic.
0:37.0	If you guys listened last Wednesday on our episode,
0:40.7	we had Kirsten Ann, who talked about how she is a rookie,
0:44.5	set out to purchase a campground.
0:47.3	Well, today we brought on Heather,
0:50.2	who is in 10 years, has owned an RV park
0:54.2	and has purchased a couple more and what,
0:55.8	Tony, the last four years, I believe it was.
0:58.8	Yeah, and her story of how she got started is incredible,
1:02.9	and you guys will feel so inspired by it.
1:05.2	But then she goes on and just explains operations,
1:09.4	due diligence, acquisition, everything, right?
	...

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