This case study outlines the process of assisting the owner of Liverpool RV Park, who transitioned from investing in self-storage facilities to RV parks, in overcoming the challenges of mismanagement and low occupancy, leading to a successful all-cash sale and a return to familiar investment terrain.
Challenge:
We first met with the owner of Liverpool RV Park in August 2023, revealing a unique scenario. While traditionally an investor in self-storage facilities, he ventured into the realm of RV Parks with the acquisition and development of Liverpool RV Park. He was hoping to save some money by utilizing his management team for his storage facilities. In the end, he said the park was mismanaged. Faced with the complexities of RV Park Ownership and an ongoing struggle to keep the park consistently occupied, the decision was made to minimize losses by opting for the sale of the property.
Action:
Our team diligently explored potential enhancements to Liverpool RV Park with the goal of optimizing occupancy rates and seeing the potential value of a properly managed park. This involved a meticulous analysis of historical rents and occupancy rates to gauge the park's revenue potential. To effectively market the property, we crafted a detailed Offering Memorandum, showcasing its strengths. Our proactive approach extended to reaching out to fellow park owners in the Houston area and leveraging our extensive network of industry contacts. These efforts aimed not only to explore collaborative opportunities but also to generate interest and visibility for Liverpool RV Park in the broader real estate market.
Result:
The culmination of our strategic initiatives resulted in a successful all-cash closing on October 21st. This transaction not only allowed the owner to cut losses swiftly but also provided the financial flexibility to return to his familiar terrain of investing in self-storage properties.
Testimonial:
"When I engaged Cole and Landan, I had already had this property listed for over a year on my own efforts. I had not received any offers that were acceptable. Cole and Landan walked me through how they market a park and receive multiple offers on each one. I realized there was a lot I was not doing. Not long after I hired them, we had an acceptable offer and closed very quickly after that. I'm grateful to have met Cole and Landan!"
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