Michael Belasco
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RV Park Acquisition Model (Updated May 2023)

Excited to share my RV Park Acquisition Model with you all. This is a model I developed out over the past few months as I’ve been getting more involved in the space (the development of an RV Park near Olympic National Park is my most investment in the space). Camping and RVing have provided my family, friends, and I with some of the greatest experiences and memories of my lifetime. “Getting away from it all” and being closer to nature has always been extremely beneficial for me and over the past year I’ve decided to get directly involved in the RV park and campground investment space.

While at the time of writing this post, it is a bit more of an unconventional asset class, it is quickly gaining momentum with investors of all sizes. As such, I felt it was timely to put this model out for our readers.

RV Park Acquisition Model Overview

The model is extremely simple, very intuitive, and easy to use and comes with the following four worksheets:

  • Summary: This worksheet is where you input all of your assumptions and see all of your returns for the RV Park.
  • Annual CF: This is the annual cash flow tab where you can see your projected cash flows on an annual basis.
  • Monthly CF: This is the monthly cash flow tab where you can see your projected cash flows on an annual basis.
  • Waterfall: This is where you can manage your partnership return structure between a GP and LP. It comes with the ability to alter between IRR and Equity Multiple hurdles, has the ability to model for two hurdles, and also provides the option for a preferred return for the LP.

Quick Note: Not interested in DIY analysis? Consider working with A.CRE Consulting to handle your bespoke modeling project.

Learn More

RV Park Acquisition Videos

Intro Walkthrough

Version 1.1 Update

Download the RV Park Acquisition Model

To make this model accessible to everyone, it is offered on a “Pay What You’re Able” basis with no minimum (enter $0 if you’d like) or maximum (your support helps keep the content coming – typical real estate development models sell for $100 – $300+ per license). Just enter a price together with an email address to send the download link to, and then click ‘Continue’. If you have any questions about our “Pay What You’re Able” program or why we offer our models on this basis, please reach out to either Mike or Spencer.

We regularly update the model. Paid contributors to the model receive a new download link via email each time the model is updated.

Proceed to Download Page

Frequently Asked Questions about the RV Park Acquisition Model

The model is designed to evaluate the financial viability of RV park investments. It allows users to input assumptions, project cash flows, and analyze returns for both general and limited partners in an acquisition scenario.

The model includes four worksheets:

Summary – For inputting assumptions and viewing returns

Annual CF – Displays projected annual cash flows

Monthly CF – Shows monthly projected cash flows

Waterfall – Models the partnership return structure between GP and LP

Version 1.1 introduced several enhancements:

Added initial capex input

Included franchise fees

Changed OpEx to be hard-coded rather than percentage-based

Enabled asset management fees in the Waterfall tab

Added unlevered and levered cash-on-cash return metrics

Included average cash-on-cash returns on the Summary tab

Fixed a formula error in cell I71 of the Waterfall tab

Yes. The Waterfall tab supports modeling of GP/LP return splits with up to two IRR or equity multiple hurdles, and includes the ability to model a preferred return for the LP.

The model provides:

Project-level unlevered and levered IRR

Equity multiple

Annual and average cash-on-cash returns

Partner-level waterfall distributions

Yes. The model is described as simple, intuitive, and easy to use. It’s designed to accommodate both novice and experienced real estate investors interested in RV park acquisitions.

The model is available on a “Pay What You’re Able” basis. You can enter any amount (including $0), provide your email, and receive the download link immediately. Contributors who pay receive future update links via email.

Version Notes

beta v1.1

  • Added initial cap ex requirement
  • Added franchise fees
  • Switched the op ex expense inputs to hard coded year 1 numbers rather than being dependant as a percentage of EGR
  • Added ability to add asset management fees to to Waterfall tab
  • Added Cash on cash metrics to unlevered and levered Annual Cash Flow
  • Added average Cash on Cash metric to return assumptions for project level returns
  • Fixed error in cell I71 in Waterfall tab

beta v1.0

  • Initial model launch

About the Author: Michael has spent a decade working in various capacities on more than $7 billion of real estate transactions spanning all asset classes and geographies throughout the USA. Michael is both the founder of Firm Ridge Real Estate, which has a core focus on niche and emerging real estate strategies and A.CRE Consulting, a real estate advisory and financial modeling firm that has provided services on projects totaling more than $21 billion to date. Prior, Michael was a founding member and COO of Stablewood Properties, an institutionally backed real estate operator. And before Stablewood, Michael was at Hines in San Francisco.  Michael has both an MBA and Master in Real Estate with a concentration in Real Estate Finance from Cornell University.

Contact Michael

 

 

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