Most owners don’t have a valuation problem.
They have a hidden liability problem.
Buyers and banks don’t buy campgrounds. They buy machines. If the machine is leaking value underground, they simply deduct the worst-case number from your price. This page shows you what they are looking for.
Answer these honestly. The answers tell you whether you still control the exit or the liabilities do.
1. Saturday Night Load Test
After a full park on a holiday weekend, is the ground over the leach field still firm and dry — or soft, green, and smelling?
2. Electrical Reality
Are the majority of your pedestals still 30-amp? Do breakers trip when modern rigs run dual A/Cs in July?
3. Who Pays the Electric?
Does the park still carry the master meter while tenants run unrestricted power?
4. Expense Ratio Truth
Is your real operating expense closer to 50% of gross (normal for mom-and-pop) or are you still showing a broker-fantasy 30%?
5. The Waitlist Trap
Do you have a waitlist while still charging rates from three years ago? That is not demand strength — it is a pricing glitch.
Biomat builds silently. A failed Saturday-night load test can turn a $50k solvable problem into a $200k+ buyer deduction or walk-away.
Legacy 30-amp pedestals and unmetered sites are two separate value killers. One fails modern standards. The other bleeds NOI every month.
Broker pro-formas love a 30% expense ratio. Real mom-and-pop operations run closer to 50%. We rebuild the P&L from the ground up using the 50% rule.
Unpermitted density, water-system thresholds (>25 people), Phase I environmental flags, and grandfathered zoning can all kill institutional debt.
We do not buy stabilized assets. We hunt the “hair” — the distress that retail buyers and banks run from. Then we quantify it, price the cure, and structure the capital so the deal can still close.
That is the difference between a low-ball cash offer and a managed exit that protects more of the equity you spent twenty years building.
Send T-12 for Forensic ReviewPlain-English diagnosis. No optimism bias.
Email Desk: wayyago@gmail.com