Excited to Step Into Lake Resort Ownership – Looking for Insights & Connections

[Nathan Mittlesdorf]

Hey BiggerPockets community,

I wanted to introduce myself and share an exciting journey I’m about to embark on. My wife and I are in the process of purchasing a family-run lake resort in Northern Wisconsin 

Here are the basics of the deal:

• Property: 5 three-season housekeeping cabins (all remodeled and well-maintained), plus a main lodge/home.
• Waterfront Assets: 7 docks with 14 slips, 4 pontoon boats, and a 2020 MirroCraft fishing boat.
• Equipment: Includes a 2020 Can-Am UTV, a Kubota tractor with attachments, and all the infrastructure for seasonal operations.
• Numbers: The resort currently grosses about $150K annually with ~$35K in expenses. I’ll be putting down $100K, financing $80K per year directly with the owner for two years, then moving into permanent commercial financing.
• Vision: My plan is to grow revenue to $200K+ by expanding the pontoon fleet, opening a small camp store, and adding some guest experience upgrades (fire pit area, lawn games, cabin amenities).

Why I’m posting:

• I’d love to connect with others who have purchased or are operating resorts, campgrounds, marinas, or short-term rental portfolios.
• I’m looking for insights on financing, automation tools (property management software, keyless entry, etc.), and off-season revenue ideas.
• I also want to learn how others balance lifestyle, family, and operations in a seasonal business.

This is a big leap for our family, and I’m grateful for the chance to learn from this community. Excited to connect with those of you who are a few steps ahead or on a similar path!

Thanks,

Nathan

[John Underwood]

Renting boats is a big liability.

Make sure you have insurance that covers this and an attorney approved rental agreement.