Tax Sale Forum > Properties for sale
Off topic - financing
atorrin:
Hi everyone,
This is totally off-topic, but I know there are some smart people here.
Does anyone know of any resources for golf course financing/investors. We have the experience and a great potential course to buy but not enough of a downpayment or operating capital. Any suggestions would be great.
link:
have you tried Dragons Den ?
Pawel:
There are private financing companies that many builders/developers use which understand the real estate game and are more flexible than major banks. Try Rose Corp., Wells Fargo, MCAP, and Tricon for starters. My advice is to make sure your proforma numbers are accurate and you have a decent IRR to negotiate with these lenders... Feel free to contact me through private msg if you have specific questions.
Pawel
Pfm1011:
here is the catch, great idea, no money.. dont expect more then 5 ot 10% of the whole deal...also odds are you will get end run by the venture capitalists useless you can get a lock
You need to tie up the land for several years before you take it to financers but in reality no one is building golf course right now and there are many that have gone bust. also many new on hold
Correct me if Im wrong but arent you looking at 5 to 10 million for a half decent 18 hole plus the 180 acres of land
Of course if you tie up the land , you could finance it the old way as an equity course ..idiots pay 50 to 80 for initiation fees with zip for equity so you should have no prob gettting 30 to 50 K for equity positions
I would expect you could raise 10 to 15 mil very easily presuming you are looking at southern ontario
DF1:
Municipality here is stuck with a golf course they can't seem to get rid of. Township owns the land, and has run it at a loss since the club went broke a couple years ago. Desperate to sell, they can't get a decent offer as a golf course. ::) They will probably have to sell and allow the new owner to develop the peoperty.
Navigation
[0] Message Index
[#] Next page
Go to full version