I was wondering if anyone has any experience or thoughts on Golf Course investing? I know golf as a sport has declined over the past few years, but with the world changing maybe outdoor sports such as golf will see a renaissance. I have seen a few golf courses for sale and they have peaked my interest enough to give it some thought as an investment vehicle. Anyone have any thoughts or interest in golf course investing?
I’m in the event business. I’m on a golf course in Massachusetts but not involved in the golf portion. Did you get involved with a golf course?
@Brian Buchanan Someone just bought our previously town owned 18 hole golf course. For the past 20 years the town had put all the proceeds back into maintaining and improving the course as much as possible but had made little to no capital equipment purchases beyond the carts and the bare minimum of maintenance to the club house.
So far the new owners, a local couple, have over hauled the club house from new electrical, new roof, and all new kitchen equipment, to starting a planned several year equipment purchase program for the course.
There’s definitely a market to get into private ownership of golf courses particularly if you can turn them into destinations for events and weddings to boost after hours revenue and build up your tournament schedule.
The new buyers of our town course have set a 5 year plan for generating more business, attracting more tournaments, and hosting more small events by having a functional restaurant with good food for the first time in years.
If you decide to get into this market, I’m sure your property will be more expensive than the one I’m talking about. I’d consider hiring a consultant to get your plan going and your property on track. Especially if it’s lacking in the tournament/wedding/function venue because you may need someone with the vision to help you turn it around. A good golf pro should be able to work on tournaments but not every facility manager has the scope to create a wedding facility.
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