Looking for Investors/Development Partners – Oklahoma Golf Course + Residential Devel

Edmond, Oklahoma
Commercial Real Estate Investing
1wFollow

Looking for Investors/Development Partners – Oklahoma Golf Course + Residential Devel

Barrett Porter
Member since 2023 · 1 post · 1 vote

I’m researching a potential ground-up golf course development in Oklahoma and looking to connect with investors who have experience with land development, golf courses, residential development, or larger real estate projects.

The concept is a roughly 272-acre property with good terrain and a strong location. The idea would be to develop an 18-hole golf course that uses the natural elevation and terrain instead of trying to flatten the property. We would also build ponds for irrigation and water management, along with a driving range/practice facility.

The bigger part of the plan is developing residential lots around the course. The goal would be to have the residential development help fund the golf course construction rather than trying to finance the entire golf course upfront.

I have a real estate background and experience with hands-on construction/development work, so I’m comfortable being involved in the project rather than simply putting an idea on paper.

I’m still in the research and planning stage. I’m not looking for someone to blindly fund an idea. I’m looking to connect with people who understand development financing and would be interested in looking at the numbers and potentially partnering if the deal makes sense.

If you have experience financing or developing golf courses, residential communities, large land projects, or similar developments, I’d like to hear how you would structure something like this.

1Reply
143 views

3 Replies

Jump to latestLatest
  • G. Brian DavisPro Member
    Investor · Hatboro, PA · Member since 2016 · 2k+ posts · 850 votes
    6d

    That’s a big project. I’d be most interested in the residential side of the numbers. If the plan is to use lot sales to help fund the golf course, I’d want to know how much it costs to get each lot ready, what you realistically think you can sell them for, and how long you expect it to take.

    I like the concept, but I’d be careful about making the deal dependent on everything going perfectly. Development costs can move pretty quickly, and lot sales can take longer than expected.

    If the numbers still work with conservative assumptions, I’d keep digging.

    0Reply
  • Henry ClarkPro Member
    Developer · Member since 2020 · 4k+ posts · 4k+ votes
    14h

    OP we are small potatoes doing 75 to 80 acre country subdivision lots but a lot is scaling.

    1. Golf is on the downside

    2. Determine your inventory and price point and how does it fit with the location? Example can your market handle 150 $250,000 lots plus 200 $150,000 lots?

    3. Water and sewer? Do you have enough water if private wells. Or do you have access to city or county water and is there enough pressure? Our county requires minimum 2 acres for private water well and sewer system separation. If 2 acres you won’t have enough lots for the project viability.

    4. Is there an existing stream or intermittent? Then US Corp of Engineering gets involved. It was going to cost me $120,000 for the “Right” to build 1acre pond. Plus there has to be enough Stream abatement or mitigation credits for you to buy. My stream as only about 2 inches deep by 18 inches wide. Still had to work with the Corp.

    5. Any Indian historical sites?

    6. Any major bridges needed?

    7. How close is fiber optic service?

    8. How close is electrical service?

    9. Your profit doesn’t come till the last 30 or 40% of sales. Since this is a Longterm project your success will be determined by the over all economy in your location during that time frame. What does your crystal ball say?

    I would look at the above items before going to the next level of analysis.

    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    6h

    other than the very basic utilities due diligence and land use approvals.

    I would look at Discovery land company and their projects.. they anchor them with a top flight ( think big dollar) name brand architect.

    that would be the first move in my mind once you know you have a by right site by that I mean its properly zoned and Utls are there and can be tapped into.

    Architect is going to do a prelim design and you can see how it lays out.. But as Henry mention golf is for sure over its prime.. Discovery has made these project basically a cult following and VERY high end.. However extremely profitable for the company..

    If your in an area like OKC which is not a really big dollar market.. can you realistically afford to build a golf course and get a premium for lots. so thats where I would start of golf course folks and your banker or capital will want a report from 3rd party expert validating that if you build it they will come and they will pay what its going to take..

    I think if you are of the mind I will build the lots first and promise the golf course that is going to be a non starter.. I have seen the golf course go in and then the club house come later that is pretty standard.. but sell lots at a premium and then just promise the golf course. I would think you will need a very big money partner backing that promise to even sell lots.

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
    WebsiteView Page
    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free