Texas RV park Hill Country vs Gulf peril split
Hill Country destination parks vs Gulf hurricane exposure carry different wind/flood PITIA — bind on PIN before bridge. Hail deductibles on West Texas assets hit roof-forward PIP timelines; Houston flood elevation affects coastal refi LTV 5–8 points.
Utility expansion: document municipal stub capacity before modeling pad-add NOI in refi application.
Texas RV park bridge underwriting separates Hill Country destination parks from Gulf Coast hurricane exposure and Permian oil-cycle travel stops — hail deductibles on West Texas assets and Houston flood on coastal parks hit NOI differently. DFW and Austin exurban parks at $1.5M–$4M need utility capacity review on expansion pads. Hub: RV park financing guide.
Bridge IO 8.99%–13.5%, 65%–80% LTV; compare MHC Texas. Rates: RV park loan rates 2026 · how to buy an RV park.
Texas RV park segments and basis bands
| Segment | Geography | Basis band | ADR / occupancy profile |
|---|---|---|---|
| Hill Country destination | Fredericksburg, Kerrville, Bandera | $1.4M–$2.8M | Premium ADR; Mar–Nov peak |
| Gulf Coast snowbird | Corpus, Port Aransas, South Padre fringe | $1.2M–$3M | Oct–Apr fill; hurricane reserve |
| I-35 travel corridor | Waco to San Antonio | $800K–$1.6M | Transient overnight; lower ADR, steadier |
| West Texas | Permian fringe | $600K–$1.2M | Worker-adjacent — verify durability |
Kerr County destination parks trade $1.5M–$2.2M on 40–65 pads with 50-amp mix — property tax protest culture means verify post-close liability. Gulf Coast wind/flood can add $40K–$80K/yr insurance — mandatory in bridge memo.
Worked example — Hill Country 48-pad acquisition
$1.65M — 68% annualized occupancy, mix of 30-amp and 50-amp pads, Kerr County
| Phase | Detail |
|---|---|
| Bridge | 68% LTV ($1.122M) + $180K PIP holdback at 11.25% IO |
| PIP timeline | 8 months — 50-amp pad electric + WiFi + bathhouse refresh |
| Post-PIP ADR | +13.9% vs trailing 12 ($72 → $82 avg nightly) |
| Occupancy | 68% → 79% (trailing 12) |
| Stabilized NOI | ~$14,200/mo after opex |
| Refi target | SBA 7(a) $1.28M at 7.5%, about 1.50x if amortized 25 years — month 18 |
Cap rates: RV park cap rates and valuation
Seasonality — Texas DSCR modeling
Lenders require trailing 12-month P&L, not peak-month annualization:
| Month type | Hill Country | Gulf Coast |
|---|---|---|
| Peak | Mar–May, Oct–Nov | Jan–Mar snowbird |
| Trough | Jan–Feb | Aug–Sep hurricane season |
| Reserve | 3–6 months PITIA on bridge | Wind/flood quote in pro forma |
Texas diligence checklist
- Pad electric amperage — 50-amp demand rising with larger RVs
- Septic / wastewater capacity — expansion limits on rural parks
- Transient vs long-term site rent mix — different revenue stability
- FEMA flood zone — coastal and river-adjacent pads
- County STR / campground licensing — varies by municipality
- Trailing 12 P&L — not March or October annualized
Hill Country vs Gulf Coast — financing contrast
| Factor | Hill Country | Gulf Coast snowbird |
|---|---|---|
| Peak season | Mar–Nov weekends | Oct–Apr snowbird |
| Insurance load | Moderate wind | Wind + flood reserve required |
| ADR profile | Premium destination | Volume transient |
| Bridge fit | PIP + ADR growth | Post-storm insurance diligence |
| Permanent refi | SBA 7(a) at 75%+ occ | T-12 must show hurricane-season trough |
Exit and refinance path
Texas RV park sponsors choose submarket before LOI — Hill Country PIP-and-ADR growth, Gulf Coast insurance-heavy snowbird, and I-35 transient steadiness produce different bridge and refi clocks.
SBA 7(a) refi (Hill Country): After two peak seasons and PIP completion, SBA typically refi at 65%–75% LTV with 1.25x+ DSCR on trailing T-12. Kerr County example: $1.28M permanent at 7.5% replaces $1.122M bridge plus retires $140K of PIP holdback — sponsor needs Jan–Feb trough months in P&L, not annualized April occupancy.
Gulf Coast caution: Corpus and Port Aransas parks require current wind/flood carrier quote before bridge approval — insurance $48K–$85K/yr compresses NOI 10%–15%, dropping refi LTV 5–8 points. Model August–September hurricane-season vacancy explicitly in T-12.
I-35 travel stops: Lower basis ($800K–$1.4M) with steadier overnight ADR — refi viable at 72%–78% occupancy when revenue less seasonal. Bridge 8.99%–13.5% IO for 12-month acquisition close; SBA timeline 90–120 days post-stabilization.
Permian fringe: Worker-adjacent parks need occupancy stress at 55% — oil-cycle downturns hit ADR before occupancy. Extend bridge 6 months before LOI on Midland/Odessa fringe assets.
50-amp PIP sequencing: Complete pad electric upgrades before refi application — lenders credit ADR lift only with post-PIP trailing 6 months. Guide: how to buy an RV park.
Related Texas programs
Include Hill Country vs Gulf peril split and utility expansion map — Texas RV park file · Texas campground hub · (833) 264-7776
Texas RV park underwriting focus (2026)
- Occupancy: Underwrite DFW hookups on trailing 12-month RV occupancy — not peak-season broker pro forma on Texas parks.
- Utilities: Seasonal hookup revenue vs annualized camper counts before IO term.
- Entity: Business-purpose LLC with aligned operating agreement before appraisal.
- Exit: Identify bank or agency takeout on Texas RV park assets before bridge close.
Include Hill Country vs Gulf peril split and utility expansion map — Texas RV park file · Texas campground hub · (833) 264-7776
Texas RV revenue underwriting
Separate annual camper revenue from transient hookups on Texas RV parks — banks exclude seasonal overlap from permanent debt sizing. Hail and wind on roof-forward scopes — separate Houston flood from DFW hail corridors. Pedestal electric and septic capex on older parks belongs in the bridge budget, not post-close surprise.
Compare: RV park hub · Submit commercial scenario.
Which Texas loan you are actually pricing
Hill Country, Gulf, and I-35 parks close at Jaken Finance Group on a bridge note while the season is still in the trailing year. The rate is 8.99%–13.5% interest-only. Purchase leverage goes up to 90% on a qualified file. The term is 12–24 months. Once the package is complete, closing is 7–10 business days. Statewide terms are on Texas bridge loans.
A DSCR rental loan is the wrong label for nightly pads. That product is 5.75%–10.5% and closes in about 14 business days. It is for leased residential property. A coverage ratio on park NOI can still be the test a bank uses at takeout. It does not turn the acquisition into a house loan. The timing difference is spelled out in commercial bridge versus SBA.
The SBA 7(a) program caps a loan at $5 million. It can be used to acquire, refinance, or improve real estate and buildings. Use it after a trailing year is in the file. The bridge close on a complete package remains 7–10 business days. Product detail is on SBA 7(a) loans.
House prices, unemployment, and permits
Use the house index as context, not as a cap rate. The Texas all-transactions house price index is not seasonally adjusted. The base is 100 in the first quarter of 1980. It stood at 531.31 in the second quarter of 2026. It stood at 523.10 in the second quarter of 2025. The index is 1.6% higher than a year earlier. Kerr County destination parks and Permian travel stops will not both move by that percentage.
The jobs series to cite here is seasonally adjusted. The Texas unemployment rate was 4.4% in August 2026. It was 4.2% in August 2025. Keep that pair together. A not-seasonally-adjusted print is a different series.
Building permits are a supply signal for houses, not for 50-amp pads. The Texas permit series is not seasonally adjusted. August 2026 authorized 14,789 units. August 2025 authorized 14,273 units. Utility capacity at the park still has to be documented site by site.
Contract-lien sales under Property Code 51.002
Texas contract-lien sales follow Property Code section 51.002. The rules below follow that posting, which shows amendments through 2023.
Except as that section provides, a sale under a power of sale in a deed of trust or other contract lien must be a public auction. It is held between 10 a.m. and 4 p.m. on the first Tuesday of a month. If that Tuesday is January 1 or July 4, the sale is held on the first Wednesday. The sale is at the county courthouse in the county where the land is located, in the area the commissioners court has designated. If the property lies in more than one county, the sale may be held at the courthouse in any of those counties.
Notice must be given at least 21 days before the sale. The notice states the earliest time the sale will begin. The seller posts it at the courthouse door of each county where the property is located, files a copy with the county clerk, and serves each debtor by certified mail. The day the notice is given counts toward the 21 days. The day of the sale does not. The sale must start at the time in the notice, or not later than three hours after that time.
Subsection (d) is narrower. It requires a written default notice, and at least 20 days to cure, before the sale notice, for real property used as the debtor’s residence. An entity-owned campground is not automatically that case. Ask Texas counsel before you put a 20-day residential cure on a business-purpose park. The 21-day sale notice in subsection (b) is the general rule described above.
Hotel tax, and what the Comptroller page does not say
Nightly revenue can pick up a tax the seller buried in opex. The Texas hotel occupancy tax page says owners, operators, or managers must collect the state tax from guests who rent a room or space in a hotel costing $15 or more a day. The page says the tax applies to hotels and motels, and also to bed and breakfasts, condominiums, apartments, and houses. The state rate is 6% of the cost of a room.
Local hotel taxes, on that page, apply to sleeping rooms costing $2 or more a day. Cities, certain counties, and special purpose districts may add a local hotel tax, and the local authority collects it. The monthly return is due on the 20th of the following month. A late report draws a $50 penalty. Tax paid 1 to 30 days late draws a 5% penalty. Tax paid more than 30 days late draws a 10% penalty. Interest starts 61 days after the due date.
That page does not name RV parks. Ask the Comptroller, or your Texas tax advisor, whether a nightly pad is a taxable space before you leave the tax out of the pro forma. Price Gulf wind and Hill Country hail from Texas binders, on separate lines.
Illustration: Corpus fringe carry
Example only. This is not a funded Jaken Finance Group loan.
A park on the Corpus Christi fringe is under contract at $1,200,000. The bridge is 65% of price, or $780,000, at 12% interest-only. Monthly interest is $7,800. Fifteen months fully drawn is $117,000 of interest. Fifteen months is inside the 12–24 month term. The lower leverage leaves room for a wind and flood premium. Price that premium from a current binder. This interest figure is not an insurance quote.
The Hill Country example above is a different park: $1.65 million purchase, $1.122 million bridge, and a $1.28 million takeout at 7.5%. If that takeout amortizes over 25 years, the payment is about $9,459 a month. About $14,200 of NOI covers it about 1.50 times. The 25-year length is an illustration so the ratio can be checked. It is not a promise that SBA will offer that term on this park.
Texas items that move leverage
Name the county of sale if the tract crosses a county line under section 51.002. Show the posted notice date, and leave the sale day out of the 21-day count. Say whether anyone claims the land as a residence. Ask the Comptroller about hotel tax when pads are rented by the night. Keep the hail deductible on a West Texas roof apart from a Gulf wind quote.
Include the peril split and the utility map with the Texas scenario. Call (833) 264-7776 before the LOI expires.
Texas park / niche segment gates — DFW (Dallas–Fort Worth) (2026)
- RV park underwriting on DFW (Dallas–Fort Worth) — pad count, utility infrastructure, and ~1.68% tax on operating entity.
- Hail and wind on roof-forward scopes — separate Houston flood from DFW hail corridors — segment comps do not cross into vanilla SFR Houston pricing.
- Bridge 8.99%–13.5% IO with documented operating history or value-add scope before agency take-out.
DFW (Dallas–Fort Worth) RV park bridge 8.99%–13.5% IO · Texas hard money · (833) 264-7776.