Live Q/A Panel: Jan 27, 5PM CST Legal and Financial Whatcha M’Callit
Live Q/A Panel: Jan 27, 5PM CST Legal and Financial Whatcha M’Callit
Live Q/A Panel: Jan 27, 5PM CST Legal and Financial Whatcha M’Callit
Panelists
- Host – Mark Koep – Outdoor Business Pros & CampgroundViews
- Damian Petty – Leavitt Insurance
- Bruce Hurta – Ameris Bank
- Irene Jones – Marshall & Sterling Insurance
- Christine Taylor – The Towne Law Firm
- Larry Brownfield – Kampgrounds of America
- John Burke – Kampgrounds of America
- James Moss, JD – Recreation Law
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I know there are many TBD issues that go into answering this question, however, is there a “per-site cost range” (including land) when purchasing an existing RV/Glamping park?
any issues getting loan when using a ROBS C-Corp structure?
what is right way to calculate cap rate? Most of P&L’s I’ve seen do not include salary for management. Should it?
any advice for finding an attorney in a state you do not live in when buying a park far from where you currently live?
seller are “flipping” campgrounds now. Any issues getting loans/ insurance with less than 2 years financials?
Speaking or insurance & releases, what are your thoughts with respect to companies like Hipcamp (and now Airbnb) who are getting into the campground “site rental” business and have insurance that covers the “host” and “camper?”
Everyone wants a shortcut or a freebee but each business should pay professionals. Your business attorney, not your fellow member or your neighbor business or your national association … your attorney is the one who will defend you in a court of law. It’s great to get insight from fellow park owners but please implement what your attorney can defend.
I wonder if this session is revealing more about how unclear it all it rather than plotting a positive path the prospective buyers & builders can follow.
I bought without a broker. Might this forum mention how to do that?
YES! We had a CPA & an attorney, and the negotiation & sale process was painless. We were well educated on the industry before we entered into this process.
With regards to establishing an LLC for your park, one of the panelist had said to set it up in your home state. If your state of residency is different than that of the campground, which state should you register in?