Prepared for lenders, CDCs, and federal agencies to SBA SOP 50 10 8, USDA RD Instruction 5001, and conventional underwriting standards. Fiduciary duty runs to the lender and the agency, never the borrower. More than 4,000 studies since 1998 covering $40.2 billion in evaluated project value.
RV resort feasibility is seasonal yield management projected forward: site-class mix, ADR by class, the occupancy curve across peak and shoulder seasons, and the long-stay segment that determines whether winter months carry their cost. The study tests the drive-time leisure market and highway capture, evaluates the competitive set's actual rates and sold-out behavior, and models utility and amenity capital against the rate premium it must earn. Site-plan configuration receives explicit analysis where waterfront or premium positioning creates materially different unit economics — in some engagements the difference between a compliant and non-compliant plan.
The firm's outdoor-hospitality model carries site-class revenue build-up, monthly seasonality, length-of-stay mix, and ancillary revenue, benchmarked against named competitive properties and industry data. DSCR is tested at the program minimum across the five-year underwriting window, with capture-rate and leakage analysis supporting the demand conclusion.
Every Wert-Berater financial model is fully linked with no hardcoded values, so any reviewer can stress any input. Deliverables comprise a complete narrative report and the linked Excel model, with ten-year pro forma, sensitivity analysis at ±5, 10, and 15 percent, interest-rate stress from +0.5 to +3.0 percent, and ratio analysis benchmarked against RMA and IBISWorld data.
SBA engagements are prepared to SOP 50 10 8, including its debt-service-coverage minimums of 1.15x operating and 1.00x global. USDA engagements follow RD Staff Instruction 5001 across the Business & Industry, Community Facilities, REAP, and Value-Added Producer Grant programs. Conventional engagements are built to the lender's stated coverage standard, typically 1.20x. Most engagements arrive under SBA 504 per SOP 50 10 8 with its special-purpose property treatment; USDA B&I applies to rural destinations and conventional lending to larger resort product.
The firm's record includes a 100-site, $4,839,570 SBA 504 resort in Texas determined favorable with conditions, and a 34-site waterfront resort in Navarre, Florida at $8,050,000 where site-plan analysis identified the single SBA-compliant configuration. Independence is non-negotiable: determinations follow the evidence and are not revised under pressure, and studies are built to pass lender, agency, and third-party review without exception items.
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