Value-Add Investing

How to Turn Around an Underperforming RV Park

A step-by-step guide to identifying, acquiring, and transforming distressed RV parks into cash-flowing assets. Learn the playbook that delivers 100%+ returns.

Identifying Turnaround Opportunities

What to look for when evaluating distressed or underperforming RV parks.

Below-market rents

Current rents 15-30% under comparable parks in the area

Low occupancy

Less than 80% occupancy with available demand in the market

Deferred maintenance

Cosmetic issues that hurt curb appeal but are easy to fix

Poor management

No online presence, outdated systems, weak tenant screening

No ancillary income

Missing laundry, vending, storage, or other revenue streams

Motivated seller

Retirement, estate sale, burned-out owner, or financial distress

The 4-Phase Turnaround Playbook

A proven framework for transforming underperforming parks into profitable assets.

1

Month 1-3

Phase 1: Stabilization

  • Implement Camp Operator for automated billing
  • Audit all leases and current rent rolls
  • Fix critical maintenance issues
  • Establish tenant communication systems
  • Set up online booking and payment portal

Expected Impact

Stop the bleeding, establish systems

2

Month 4-6

Phase 2: Revenue Optimization

  • Raise rents to market (5-10% initial increase)
  • Launch marketing campaign for vacant sites
  • Implement dynamic pricing for short-term
  • Screen and replace problem tenants
  • Add online listings (Google, directories)

Expected Impact

+10-15% revenue increase

3

Month 7-12

Phase 3: Value Creation

  • Add ancillary income (laundry, storage, propane)
  • Complete deferred maintenance and cosmetic upgrades
  • Second rent increase to full market rates
  • Optimize utility billing (submetering)
  • Refinance to lower rate or pull equity

Expected Impact

+25-40% NOI improvement

4

Year 2+

Phase 4: Exit or Hold

  • Stabilized operations running on autopilot
  • Consider refinance, sale, or 1031 exchange
  • Evaluate expansion opportunities
  • Document systems for potential buyer
  • Enjoy passive cash flow

Expected Impact

1.5-2.5x equity multiple

Real Turnaround Case Study

How one investor transformed a struggling 45-site park into a $1.5M+ asset.

Before (At Acquisition)

Sites45
Occupancy62%
Average Rent$425/month
Gross Revenue$142,290/year
Expenses$85,374 (60%)
NOI$56,916
Value @ 7.6% Cap$750,000

After (18 months)

Sites45
Occupancy91%
Average Rent$525/month
Gross Revenue$258,795/year
Expenses$103,518 (40%)
NOI$155,277
Value @ 10% Cap$1,552,770

Total Investment

$95,000 (capex + Camp Operator)

Value Created

$802,770

Timeline

18 months

ROI

845%

Common Turnaround Mistakes to Avoid

Learn from others' expensive lessons.

Raising rents too fast

Consequence: Mass tenant exodus and occupancy crash

Solution: Gradual 5-10% increases with 60-day notice, justify with improvements

Ignoring problem tenants

Consequence: Good tenants leave, bad tenants stay, culture deteriorates

Solution: Enforce rules consistently from day one, document everything

Underestimating capex needs

Consequence: Run out of capital before stabilization

Solution: Budget 1.5x your estimate, hold reserves for surprises

No systems in place

Consequence: Chaos, missed payments, tenant complaints

Solution: Implement Camp Operator immediately for automated operations

Software Demo

Camp Operator: Your Turnaround Tool

See how our software helps you implement the turnaround playbook from day one.

Ready to Turn Around an RV Park?

Camp Operator gives you the systems and tools to execute a successful turnaround from day one. Start your free trial today.

Sarah Mitchell

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Austin, TX·2m ago
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