I am always on the lookout for various Business Oppurtunities through the purchase of Real Estate .. I am presently in Fla. due to my mothers illness . It appears that the condo complex she is in has recently divested itself of the Golf Course and Marina . They electing not to put needed funds into the golf course and Marina . Originally these were amendities to the purchasers of the of the condo's .
One year latter and the marina is almost at capacity and the PGA golf course has doubled its membership to non resident golfers . This I attribute to basic marketing and value to those that either boat of golf .
Do any members of BP see this trend happening in other areas ?
If YES , How did you come across these deals ?
Any other BP members come across unusual ways to increase business oppurtunites from the purchase of Real Estate ?
Been there, almost, done that, involved in a golf course, no more, a marina is too much trouble and has a world of regulations on a Corps of Engineers waterway.
As to other ventures in connection with RE, steel fabrication business, car lots, grocery store, auto service garage, construction firm/general contractor, C-store/car wash and a bar, cafe, lake resort.
These came arising from basically partnering as a credit or business partner (or both) for under capitalized entrepreneurs who couldn't swing the RE purchase or lease of facilities. Sign the lease, sub-let to a partnership, rent is lower than market sometimes with net profit lease arrangements. Partner, put the down payment in or finance it, you can be a 50/50 or 60/40, whatever partner with a buy out in 3, 5 years or whenever.
Trick is to know the partner, their qualifications, experience, many in various industries have years of experience, understand the business but are too thin to swing it on their own. Now comes the venture capitalist type, don't need to gouge them, but give them a start and partner along the way. The guy I was with on the steel fab business was an engineer with time in the computer rack business.....never knew, LOL. Most will lack accounting and business skills, that's where you can join in along with swinging the RE! Good luck ! :)
I'm actually seeing more golf courses going out of business and being sold for the land. Golf participation is down quite a bit from the peak years and some of the courses around me (Illinois) are not doing as well as they were.
I think there's a better and higher use for most golf courses by converting them to development to be honest.......But your example suggests thats not always true. Sounds like they're doing well as a golf course. Still, at some point I wonder whether anyone other than a township park district would ever own a golf course. Not unless its an elite one....
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