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