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Strategies & Market Trends : YEEHAW CANDIDATES -- Ignore unavailable to you. Want to Upgrade?

To: willcan who wrote (781)	12/29/2002 10:01:01 AM
From: Ditchdigger	Read Replies (1) \| Respond to of 23958

It's funny, but I do agree the asking price isn't all that bad, for what you get..Don't know if you checked out the photos, but it is an absolutely beautiful course...3 different residences on the property,gym,and a huge clubhouse, which use to be used by the previous owner as a showplace for his car collection...Then a 33 yo venture capital guy bought it a few years ago...What they don't tell you is what it costs to keep the place up..around $250,000 per year minimum/barebones, when you figure staff, upkeep,all the chemicals for the course,etc., etc...They tried to run it as a semiprivate course for awhile (you could rent the whole facility for a week,etc.) and had limited success..was $25,000 for the week..A few of the fairways are common (used by multiple holes) so you're limited on how many couples/groups you can let out at one time...Always thought a corporation would buy it as a corporate retreat, it would be ideal... I know the current owner paid $3.2 mil for it,,he supplied venture capital to PRDS in it's early stages, was worth 200 mil+ at one time, but those were the good old days<lol>..The original owner before him started Prime Motor Inns, and as for the course, started off wanting just a putting green, $5 mil later he had a golfcourse<lol> (he once told me he spent over $6.5 mil on the entire retreat)