my neighbor just bought a private course for 19 mil at an auction. I think its safe to say its a pretty significant investment buying one.
[quote]JackDanials wrote:
…[/quote]
Doesn’t her sex tape come out today?
[quote]BradTGIF wrote:
[quote]JackDanials wrote:
…[/quote]
Doesn’t her sex tape come out today?[/quote]
Someone needs to confirm this. NOW!!!
[quote]relentless2120 wrote:
my neighbor just bought a private course for 19 mil at an auction. I think its safe to say its a pretty significant investment buying one.[/quote]
The courses around here are small time operations. The going rate for two that I know of in my area is like 450K to 600K range.
V
You can do it, V but unless your net worth is WAY higher than I’m assuming it is, you won’t be able to do it alone. That’s not a big deal, though - all you have to do is meet the right people, sell them on the idea, and be smart enough to structure things so that they don’t cut you out of it. Most commercial RE loans right now are at at phenomenal interest rate, but a not so hot LTV.
This means that the ROI will take some time. However, I would encourage you with the fact that now is a great time to buy RE, especially commercial - most of those 5 year ARMs are coming due soon and some business owners may just want to get out from under something they feel is a bad investment (land they bough in hopes of developing, but now is just bleeding them).
In fact, the commercial market may drop even more, as the default rate rises and banks start trying to just stop the bleeding… You may be poised to make a very sound investment if you play it right. Good luck.
I have reason to believe angry chicked is a communist. Until proven otherwise I’d caution against listening to anything he has to say.
I say fk the golf course, buy a pet store. Then you get to have hamsters and iguanas!!! Oh and bunnies, awwwww I love bunnies!!!
YAAAAY for BUNNIES!!!
[quote]Vegita wrote:
[quote]relentless2120 wrote:
my neighbor just bought a private course for 19 mil at an auction. I think its safe to say its a pretty significant investment buying one.[/quote]
The courses around here are small time operations. The going rate for two that I know of in my area is like 450K to 600K range.
V[/quote]
Shit, if that’s all it is, you may be able to do it by yourself if you have the assets to leverage… I would still advise you to spread the risk, though (unless you can do this with out jeopardizing your retirement or your children’s investments for college). If that’s all it is, the money you save yearly by not paying green fees would probably cover the mortgage! LOL
[quote]AndrewG909 wrote:
I have reason to believe angry chicked is a communist. Until proven otherwise I’d caution against listening to anything he has to say.
I say fk the golf course, buy a pet store. Then you get to have hamsters and iguanas!!! Oh and bunnies, awwwww I love bunnies!!!
YAAAAY for BUNNIES!!!
[/quote]
You made me spit my protein shake, you fuck! LOL
V-
Hot cart girls sell beer period.
[quote]BradTGIF wrote:
[quote]JackDanials wrote:
…[/quote]
Doesn’t her sex tape come out today?[/quote]
Link please and thank you…
[quote]angry chicken wrote:
You can do it, V but unless your net worth is WAY higher than I’m assuming it is, you won’t be able to do it alone. That’s not a big deal, though - all you have to do is meet the right people, sell them on the idea, and be smart enough to structure things so that they don’t cut you out of it. Most commercial RE loans right now are at at phenomenal interest rate, but a not so hot LTV.
This means that the ROI will take some time. However, I would encourage you with the fact that now is a great time to buy RE, especially commercial - most of those 5 year ARMs are coming due soon and some business owners may just want to get out from under something they feel is a bad investment (land they bough in hopes of developing, but now is just bleeding them).
In fact, the commercial market may drop even more, as the default rate rises and banks start trying to just stop the bleeding… You may be poised to make a very sound investment if you play it right. Good luck.[/quote]
Good analysis. You also need to be prepared with a business plan and cash flow proformas to demonstrate to potential lenders or investors that you will be able to run a profitable business. Investors aren’t going to be thinking “Golf courses are fun, lets invest in one!” They will be thinking “What’s my return, and when do I get it?”
[quote]angry chicken wrote:
[quote]Vegita wrote:
[quote]relentless2120 wrote:
my neighbor just bought a private course for 19 mil at an auction. I think its safe to say its a pretty significant investment buying one.[/quote]
The courses around here are small time operations. The going rate for two that I know of in my area is like 450K to 600K range.
V[/quote]
Shit, if that’s all it is, you may be able to do it by yourself if you have the assets to leverage… I would still advise you to spread the risk, though (unless you can do this with out jeopardizing your retirement or your children’s investments for college). If that’s all it is, the money you save yearly by not paying green fees would probably cover the mortgage! LOL
[/quote]
I will have a partner. Good buddy of mine, past roomate and current tenant in my 2 family. We co-exist very well and this is even living together for over a year. He is smart, motivated and very handy. Right now he works for a large construction firm, he can build almost anything and he is good with machines and engines and crap like that. I’m decent, especially with direction, we have done a few small building projects together and they have all went very smoothly.
Neighter of us have much in the way of capital to invest ourselves. Which is really the only negative I can see about our prospects. I’m just hoping I can put together a really good business plan and like you said, sell it to investors, be it a bank or private. And I sure as hell will not do it with someone else calling the shots with regard to how the course is run. I will just save and wait until I can do it without that happening.
V
[quote]Vegita wrote:
[quote]relentless2120 wrote:
my neighbor just bought a private course for 19 mil at an auction. I think its safe to say its a pretty significant investment buying one.[/quote]
The courses around here are small time operations. The going rate for two that I know of in my area is like 450K to 600K range.
V[/quote]
Can’t be right. Even a 9 hole chip-n-put is going to be more than that. In New York? I doubt even in the boondocks.
If you can really get a 18h course for half a mil, make it a 9 hole course and build condos.
[quote]on edge wrote:
[quote]Vegita wrote:
[quote]relentless2120 wrote:
my neighbor just bought a private course for 19 mil at an auction. I think its safe to say its a pretty significant investment buying one.[/quote]
The courses around here are small time operations. The going rate for two that I know of in my area is like 450K to 600K range.
V[/quote]
Can’t be right. Even a 9 hole chip-n-put is going to be more than that. In New York? I doubt even in the boondocks.
If you can really get a 18h course for half a mil, make it a 9 hole course and build condos.[/quote]
You underestimate just how “east bumfuck” this area is. One is a 9 hole the other is 18. If I built condos, they would most likley sit vacant.
V
good luck. in michigan, many glf courses are hurting giving discounted green fees and all. country clubs are heavily discounted memberships. there are several closed and for sale gold courses by my house. i can’t imagine investors lining up here to by a golf course here.
hopefully golf courses are doing better where you are at.
[quote]Edgy wrote:
Takes a lot of balls to open a golf course, V.
I’m just sayin.[/quote]
HAHAHA!!
assuming this is a serious thread, a former boss of mine bought one a couple years ago and has spent alot of time and money into renovating it.
I have an open invite to play but havent made it up there yet.
I dont think id be able to buy a golf course because i would make every day try to feel more and more like i was living in caddyshack.
[quote]pkiousis wrote:
good luck. in michigan, many glf courses are hurting giving discounted green fees and all. country clubs are heavily discounted memberships. there are several closed and for sale gold courses by my house. i can’t imagine investors lining up here to by a golf course here.
hopefully golf courses are doing better where you are at.
[/quote]
Surprisingly, the big courses are hurting, but the smaller ones are booming, at least the ones with good management and friendly staff. People who in the past would think nothing of shelling out 10,000 per year at one of the high end courses around here are cutting back, but for them that just means getting a memebership for 1,000 at a smaller course. There is a lot of that going on, I think it’s actually a terrible time to own a large mega expensive facility. Small, well maintained and well run with friendly staff is going to keep people coming back to your place because they have fun and they can afford it.
V
Hmm. From now on I will always weigh everything you post against your Easter basket micro-loading prescription in Celtic’s thread.
Ho-hummm.