I was going that golf course don’t seem like a good way to make money but it might be.
You say that you are only doing it in hopes of being able to pay the bills. That is not too encouraging since the difference in just paying the bills and being on the other end of that are measured in inches.
I guess I like money too much to want to do something merely pays the bills.
Maybe it works though - keep updated. It will be interested to see what becomes of this thread in 365 days.
[quote]JGerman wrote:
I was going that golf course don’t seem like a good way to make money but it might be.
You say that you are only doing it in hopes of being able to pay the bills. That is not too encouraging since the difference in just paying the bills and being on the other end of that are measured in inches.
I guess I like money too much to want to do something merely pays the bills.
Maybe it works though - keep updated. It will be interested to see what becomes of this thread in 365 days. [/quote]
I was being a little dramatic when I said just enough to pay the bills. I definately want to run a successful, profitable business, what I was more getting at is that if there are ups and downs, I will be just as happy in the lean times. Say you have a down year, and a down year simply means you make enough to get through the year but you don’t have a lot of extra left over for re-investment, paying down a chunk of debt, upgrading machinery, doing a hole re-design etc… In the good years though, there will need to be strong financial principles that we adhere to to not only cushion the harder times, but to invest in the future of the club.
V
[quote]Vegita wrote:
[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
[/quote]
Old people want to retire on golf courses. There’s a glut of old people (babyboomers) on the way.
I’m thinking with the value of land, if they’re selling for that cheap it must mean the courses are money pits and they have to practically give them away. Cut the course in half and you halve your maintenance expense while having the profitable senior living.
Ok, so I have Talked to a business development service at a local college, they help people start or buy/sell businesses as a free service. They will crunch numbers and give a blessing if they think things will work.
I have talked to a certain individual who I know well who is golf partners with the owner of a course which is for sale. The opportunity is perfect, They guy is 65+ has a winter home in florida, his wife hates coming back up north every summer. He has a son who is in his 40’s who want’s nothing to do with owning the course but works there because it’s been what he has done his whole life. The course has been on the market for a couple years, it’s an 18 hole course. The guy is a good golfer but not a strong businessman, he has burnt a few bridges that I know about, if he is out of the picture those bridges will likley be rebuilt.
The guy I talked to put a word in to both the owner and his wife, informing them that I would be in touch with them soon regarding a discussion about purchasing the course. Tomorrow mornign my wife and I are going to play a round there, I will approach him or his wife before we go out and try to feel them out. Talk a little now? Wait till after the round? Set something more formal up on another date and time? Etc…
My position is I have no equity or cash in anything. It’s going to have to be owner financed. I have to sell him on ME, that I will succeed in running HIS course. This type of transaction is actually pretty common, this is how my parents sold thier insurance agency. So I think it can work. If he shoots it down totally, I just have to wait him out, save up as much cash as I can and try again next year and then next and the next, either someone else will swoop in and buy it, or he will give in to me, or I will have enough to put 20-30% down on a bank loan and buy it outright and have it bank financed.
Tomorrow is going to be a big day for me. Time to step my game up and get this done.
V
Be the ball…
Good luck.
V - Eat that piece of shit for breakfast.
