How much money do you need to buy an RV park?

Equity typically runs $200K–$1.5M for mid-size parks ($800K–$3M purchase) depending on leverage. SBA may allow 10%–20% down; bridge deals often require 25%–35% equity plus carry reserves.

What is the first step in buying an RV park?

Secure proof-of-funds or lender pre-qual, then underwrite trailing 12-month P&L, pad count, utility infrastructure, and seasonality before LOI — not after.

What due diligence items kill RV park deals?

Failed septic engineering, flood zone insurance costs, unpermitted pad expansion, and T-12 that annualizes peak season only — each triggers lender rejection or repricing.

How long does it take to close on an RV park?

Bridge or hard money closes in 14–30 business days with complete files. SBA 7(a) or 504 typically runs 60–120 days or longer.

Blog

How to Buy an RV Park in 2026 — Investor Acquisition Guide

Published July 16, 2026

By Jason Taken · Principal, Jaken Finance Group

How to buy an RV park in 2026 — due diligence, financing stack, DSCR gates, and bridge vs SBA paths for outdoor hospitality investors.

Buying an RV park in 2026 is a commercial acquisition — not a residential flip with prettier trees. Operators who win treat the deal like small hospitality real estate: trailing NOI, pad economics, utility capacity, and seasonality-adjusted DSCR before price.

Industry context: National Association of RV Parks and Campgrounds (ARVC) · Full program guide: RV park and campground financing

Step 1 — Source and screen deals

Channel	Pros	Cons
Specialized brokers	Packaged financials, OM	Competition, broker pricing
Direct to owner	Off-market basis	Messy books, seller emotion
Auction / distress	Discount	Heavy CapEx, environmental

Screen criteria before LOI:

Full hookups (water, sewer, electric) on majority of pads
Expandable pad count — zoning allows growth
Documented T-12 — not peak-month spreadsheet
Utility capacity — septic/water engineering if expansion planned

Step 2 — Due diligence checklist

Category	Items
Financial	T-12 P&L, tax returns, utility bills by pad, bad debt history
Operations	Pad count, ADR, occupancy by month, store/laundry income
Infrastructure	Electric amp per pad, water pressure, sewer/septic capacity
Legal	Zoning, permits for existing pads, environmental Phase I
Insurance	Liability quote, flood if applicable — critical in FL/coastal
Market	Comp parks, seasonal demand, competitor ADR

Valuation: RV park cap rates and valuation

Step 3 — Choose financing stack

Park profile	Typical stack	Close speed
Stabilized 75%+ occupancy	SBA 7(a) or bank 6.5%–8%	45–120 days
Turnaround 55%–70%	Bridge 8.99%–13.5% → refi	14–30 days
Auction / fast close	Hard money + defined exit	14–30 days
Glamping hybrid	Bridge + SBA — see glamping guide	Varies

Compare programs: SBA vs bridge for campground acquisitions

Model 1.25x DSCR on worst month — not July annualized.

Step 4 — LOI and purchase agreement

LOI should specify:

Due diligence period (45–60 days minimum on first park)
Seller deliverables — T-12, utility bills, environmental, lease assignments
Financing contingency unless cash buyer
Pad count and ADR representations

Bridge sponsors often shorten DD only with experienced operator and clean T-12.

Step 5 — Close and stabilize

Phase	Action
Close	Fund with bridge or SBA per stack
Day 1–30	Operator transition, utility account transfers
Month 1–12	Marketing, bathhouse upgrades, pad prep — holdback draws
Month 12–24	Refi on stabilized T-12 if bridge acquisition

Value-add buyers budget marketing, bathhouse upgrades, and pad prep in holdback — not post-close surprise CapEx.

Worked acquisition math — $1.8M park

80 pads · 68% T-12 occupancy · turnaround thesis

Line	Amount
Purchase	$1,800,000
Bridge 70% LTV	$1,260,000
Equity	$540,000
CapEx holdback	$220,000
Carry @ 11% IO (18 mo)	~$250K interest budget
Target stabilized value	$2.6M at 78% occ

Month-by-month acquisition timeline — $1.8M turnaround

Week	Action	Cost / note
Week 0	LOI submitted with bridge POF — 14-day close contingency	EMD $50,000
Week 1	T-12 received — verify trough-month occupancy, not July annualized	DD spend ~$8,000
Week 2	Phase I environmental clean; septic capacity study ordered	$4,500
Week 3	Bridge close — $1.26M funded at 70% LTV	Equity $540K at close
Week 4	Operator transition — utility accounts, reservation system handoff	Staff overlap $12K
Month 2–6	Bathhouse phase 1, pad electric upgrades, marketing launch	Holdback draws $140K
Month 7–12	Season 2 ramp — ADR lift from $38 to $44	Revenue ramp
Month 13–18	T-12 stabilization — target 78% occupancy	IO carry ~$13,750/mo
Month 18–24	SBA or bank refi on clean T-12	See SBA vs bridge

Critical path item: septic capacity study in Week 1 — expansion plans that assume 12 new pads without engineering sign-off have killed more RV park deals than price negotiation.

DSCR stress test — trough month vs annualized

Never underwrite an RV park on peak-season annualized revenue. Model February (or your market’s trough month) separately:

Metric	July annualized (wrong)	February trough (correct)
Occupancy	85%	41%
ADR	$52	$38
Monthly gross (80 pads)	~$110,500	~$38,800
OpEx (fixed + variable)	~$42,000	~$38,000
NOI	~$68,500	~$800

A lender testing 1.25x DSCR on February NOI will decline — which is why turnaround parks start on bridge, not SBA. Your acquisition thesis must include 18 months of IO carry ($1.26M × 11% = ~$11,550/mo) while occupancy ramps.

Run permanent debt scenarios on the commercial property calculator using trough-month NOI, not T-12 average, for conservative refi sizing.

Operator transition — Day 1 through Day 90

Day	Task	Why it matters
1–7	Utility account transfers (electric, water, propane)	Guest complaints if billing gap
1–14	Reservation platform migration (Campspot, RoverPass, etc.)	Revenue continuity
7–30	Staff retention bonuses for seasonal employees	Operator-dependent parks lose IP
14–45	Insurance re-bind in buyer LLC name	Lender draw requirement
30–90	Store inventory audit + vendor contract renegotiation	Margin leak on C-store revenue

Parks with on-site manager housing add complexity — manager lease assignment must be in the purchase agreement. Disclose in SBA pre-screen if owner-operator structure is planned.

Financing stack decision tree

Stabilized 75%+ occupancy + clean T-12 + 90-day seller timeline?
├── YES → SBA 7(a) or community bank (lower rate, longer close)
└── NO → Bridge at 65%–75% LTV
         ├── Occupancy 55%–74% → CapEx holdback + 18-mo IO budget
         ├── Auction / 14-day close → Hard money with defined exit
         └── Glamping hybrid → Bridge first, see glamping guide

Comparable market benchmarks (2026)

Market tier	Price per pad	Cap rate (stabilized)	Bridge LTV
Tier 1 destination (FL keys, Smokies)	$45K–$80K/pad	5.5%–7.0%	60%–65%
Tier 2 regional (Wisconsin Dells, Pigeon Forge)	$22K–$35K/pad	6.5%–8.0%	65%–70%
Tier 3 rural turnaround	$12K–$22K/pad	8.0%–10.5%	68%–75%

The $1.8M / 80-pad example above sits at $22,500/pad — Tier 2 regional with Tier 3 occupancy at acquisition. Value-add thesis targets Tier 2 stabilized cap (7.25%) on lifted NOI.

State market examples (nationwide lending)

Risks

Seasonality mis-model — winter DSCR fail
Septic capacity — expansion blocked
Insurance spike — coastal and river markets
Unpermitted pads — county enforcement
Operator dependency — key-man risk on small parks