How often do you get inquiries about buying a golf course?
Ekovich says his group gets inquiries almost every day about buying a golf course. But before showing a potential buyer any assets, they’ll find out why that person wants to own a course, what type they want to buy, what criteria they’re looking to buy under, how much money they want to put into the property, and what their financial standing is.
Is a golf course worth $5 million?
At least not right now. Those in the industry will tell you that a golf course that was purchased for $5 million in 2006 would be worth about $2.5 million today. From 2010 to 2014, there were a lot of distressed golf course assets put on the market by lenders, financial institutions, and bankruptcy companies.
Is buying a golf course a profitable business?
Buying a golf course is often a passion play. But with the right business savvy, it can also be a profitable enterprise. Welcome to the Money Game Mailbag, where we field all of your burning questions at the intersection of golf and, you guessed it, money!
Should you buy or rent a golf course?
When you buy a golf course, there’s a good chance that you’ll acquire a lot of the customers that the previous management had gained. That being said, you’ll want to bring improvements to the operation that will impress both new visitors and seasoned guests.