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Old 05-18-2012, 01:23 PM   #1
jsnip42
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RV lot purchase

As I am getting closer to freedom (retirement) I have thought about buying a rv lot in the Smokey Mountains. We go up at least a couple of times a year. In retirement will stay several weeks or even months a year. Some rv parks say you can buy a deeded lot in the park and put it on the rental program and they will rent it out on a 60/40 split to help pay for it. Has anybody purchased one of these? Not sure if it is a good idea but has got me thinking.
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Old 05-18-2012, 05:12 PM   #2
sailer
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We go to the Smokies a lot but where have you found a good park to buy a lot....sailer
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Old 05-18-2012, 06:35 PM   #3
jsnip42
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There is a new park in Wears Valley called Cove Creek RV Resort. Looks like it has a lot of potential but very expensive to buy or even to reserve a stay. I priced staying a week in October and cost was almost $500 for a week stay.
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Old 05-19-2012, 03:40 AM   #4
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We built our own RV lot so this may not apply since a park would have some sort of security, but when we tried to get insurance for our storage buildings we could only find one obscure company willing to write it and they won't cover theft or vandalism.
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Old 05-19-2012, 05:22 AM   #5
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Typically, if you buy from a place that owns the lots themselves, they will usually rent out their own first before renting out yours because they don't have to split anything. You might want to ask them about that. Most places have you rent out your lot yourself.
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Old 05-19-2012, 12:27 PM   #6
Artemus Gordon
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Stayed at "Cove Resort" in Wears valley few weeks back, in April 2012.. What an absolutely lovely spot. Lots quoted from$65,000.00 to over $150,000.00 with extras. My personal problem is the following issues. First, park is not done yet, appears to being built in sections. Large area upfront with long term tenants. Last it appears the owners of the park, have brought several "FEMA" trailers for overnighters. Not park models, actual FEMA type units. Frankly that would keep me from buying any lot at any price. Again nice park but not my cup of tea.
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Old 05-20-2012, 04:03 AM   #7
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In Heber Springs, Arkansas, I found a lot for about $12K close to water and electric. Considering about $10K to add my own septic, bring in the water and electric, then I would have spent a heck of a lot less than $65,000 to $150,000.

On the insurance issue, if you can get a land-line (phone) to the property, then you can get security monitoring (ADT, Doubletree, etc). With that, insurance is pretty easy to find.
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Old 05-21-2012, 11:32 AM   #8
jsnip42
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I was kinda on the fence about this before I posted this topic. It seems like a really bad idea now. Guess I will pass on the purchase. Thanks for all the advice.
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