The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success

GOLD! Margaritaville (I've Bought A Golf-Course!)

MTF

Never give up
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
May 1, 2011
2,685
12,922
2,804
We are not making money yet but getting close.
Already in the black? I'd love to read an update.
 

Don't like ads? Remove them while supporting the forum. Subscribe.

OP
OP
SteveO

SteveO

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
Summit Attendee
Speedway Pass
Jul 24, 2007
3,582
14,400
2,804
We broke even last year. Income this year is well ahead of last. Expenses are up a little but this year is looking promising.

I have been spending a lot of time on the commercial property this year. Put it on the market and just went under contract.
 
OP
OP
SteveO

SteveO

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
Summit Attendee
Speedway Pass
Jul 24, 2007
3,582
14,400
2,804
My intent right now is to finish selling everything off. We are building a house on thirty acres up on the side of a desert mountain. We are also enjoying our travel trailer a considerable amount.

We may jump back into the real estate game when most of the seasonal buyers have gone away.

My wife and I are feeling the stress from all the work during the past few years. It is time for some leisure enjoyment.
 

GPM

Platinum Contributor
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Oct 25, 2012
642
2,623
670
Canada
Hope you have a guest room for me and my wife to come stay in the new place!
 
OP
OP
SteveO

SteveO

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
Summit Attendee
Speedway Pass
Jul 24, 2007
3,582
14,400
2,804
Everything is still going well. Income is still climbing every year. The course looks better than ever. I only spend a few hours a week working. Now that the business in Phoenix is sold, I can redirect the focus. Diddle on the golf course and plan the home build.

I stated that the home was going to be on 30 acres. I am buying up more of the land, splitting lots, and shaving 3, 3 acre parcels off of the 40. They are on the other side of a ridge so I won't be able to see the houses from my lot.

Fun!
 

Iwokeup

Aut viam invenium aut faciam
FASTLANE INSIDER
Read Millionaire Fastlane
Summit Attendee
Speedway Pass
May 23, 2014
1,335
3,624
896
The East Coast
Everything is still going well. Income is still climbing every year. The course looks better than ever. I only spend a few hours a week working. Now that the business in Phoenix is sold, I can redirect the focus. Diddle on the golf course and plan the home build.

I stated that the home was going to be on 30 acres. I am buying up more of the land, splitting lots, and shaving 3, 3 acre parcels off of the 40. They are on the other side of a ridge so I won't be able to see the houses from my lot.

Fun!
RE to the bone. Haha
 
OP
OP
SteveO

SteveO

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
Summit Attendee
Speedway Pass
Jul 24, 2007
3,582
14,400
2,804
The golf course is officially listed for sale. It could take months or years to complete a complex transaction like this.

The initial gross income for the business was $975K per year. Last year, we were up to $1.6M. This year is tracking slightly ahead of that. Weather has slowed us down a bit this year. Colder and wetter than normal.

Looking for retirement at this point. Probably spend time on note investing and land deals. Low stress and limited time types of things.
 

G-Man

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Jan 13, 2014
1,830
9,711
2,186
Looking for retirement at this point.
You don't mind me asking Steve, how old are you? Do you feel like you'll be able to make the adjustment to low activity without going crazy?
 
OP
OP
SteveO

SteveO

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
Summit Attendee
Speedway Pass
Jul 24, 2007
3,582
14,400
2,804
You don't mind me asking Steve, how old are you? Do you feel like you'll be able to make the adjustment to low activity without going crazy?
I am 60. When I was 40, I stepped out of the work role for a number of years. Traveled a bit, rode my bike to the gym everyday, ran a lot of miles, hiked a lot in the mountains, played golf, went 4-wheeling, etc... Did that for about 8 years before the market collapsed and I had to jump back into the game.

So, yeah... I can do that!
 

ZCP

Legendary Contributor
Staff member
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Oct 22, 2010
2,446
8,015
1,966
Woodstock, GA
@SteveO could ride one trail in his back yard for 2 years......
of course then he would get distracted, buy the adjoining 1000 acres, sell 99 smaller lots for 50x more than he paid for the whole thing, and then start a wind farm you could see from space ......... all while being retired......
 

Don't like ads? Remove them while supporting the forum. Subscribe.

andviv

Gold Contributor
FASTLANE INSIDER
Read Millionaire Fastlane
Summit Attendee
Speedway Pass
Jul 27, 2007
5,418
2,181
625
Washington DC
@SteveO could ride one trail in his back yard for 2 years......
of course then he would get distracted, buy the adjoining 1000 acres, sell 99 smaller lots for 50x more than he paid for the whole thing, and then start a wind farm you could see from space ......... all while being retired......
Exactly what I was thinking.... his "retirement" definitely does not meet the expectation for most people...
 
OP
OP
SteveO

SteveO

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
Summit Attendee
Speedway Pass
Jul 24, 2007
3,582
14,400
2,804
MJ asked for the story that I touched on in another thread.

We have an annual winter grass over-seed to prepare the golf course for winter play. Our summer grass goes dormant in the cooler weather. About $60-70 thousand dollars worth of seed and a couple of weeks of prep by the entire maintenance crew goes into this process.

We still allow play but carts cannot drive onto the fairways or anywhere around the greens during this time. Each person is told this as they check in, the carts have signs, and there are other signs stating this.

Last fall as we were in this process, I spotted one cart that had driven up close to the greens. So, I went to inform the driver that he cannot park off of the cart path while the new grass was growing in. He drove away from me as I was talking to him. I let it go as I was sure that he had heard enough.

A couple of holes later, I spotted him in the middle of the fairway. I approached him again and started talking. He cut me off, stuck his finger in my face and said "Now you listen to me....". I cut him off and said "No, you listen to me. Get off my golf course".

He actually refused to go and told me that he would only go if our GM told him to leave. I told him that the GM would not override my decision and that he needed to leave.

His group left. They went to the clubhouse and complained a bit to the GM. Have not seen them back.

This guy owns a large law firm in town. Talk went around the golf community. A number of people asked me if I really removed him from the course.
 
OP
OP
SteveO

SteveO

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
Summit Attendee
Speedway Pass
Jul 24, 2007
3,582
14,400
2,804
Update. We had a good winter season.

The majority of our cashflow comes from January through March. Very short season. But the books are filled all day every day though this period. The only exception is cold, rainy, windy days. Sometimes the course gets shut down completely. So we don't like bad weather days during the winter.

Unfortunately, we had more than our share this year. But on the bright side, we were still ahead of last year by a few percent. Even though last year was near perfect for weather.

Still marching ahead.
 

luniac

Gold Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Dec 7, 2012
1,630
2,433
577
29
brooklyn
MJ asked for the story that I touched on in another thread.

We have an annual winter grass over-seed to prepare the golf course for winter play. Our summer grass goes dormant in the cooler weather. About $60-70 thousand dollars worth of seed and a couple of weeks of prep by the entire maintenance crew goes into this process.

We still allow play but carts cannot drive onto the fairways or anywhere around the greens during this time. Each person is told this as they check in, the carts have signs, and there are other signs stating this.

Last fall as we were in this process, I spotted one cart that had driven up close to the greens. So, I went to inform the driver that he cannot park off of the cart path while the new grass was growing in. He drove away from me as I was talking to him. I let it go as I was sure that he had heard enough.

A couple of holes later, I spotted him in the middle of the fairway. I approached him again and started talking. He cut me off, stuck his finger in my face and said "Now you listen to me....". I cut him off and said "No, you listen to me. Get off my golf course".

He actually refused to go and told me that he would only go if our GM told him to leave. I told him that the GM would not override my decision and that he needed to leave.

His group left. They went to the clubhouse and complained a bit to the GM. Have not seen them back.

This guy owns a large law firm in town. Talk went around the golf community. A number of people asked me if I really removed him from the course.
guy sounds like a real prick.
shoulda made a lawyer joke lol!
 

luniac

Gold Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Dec 7, 2012
1,630
2,433
577
29
brooklyn

Veloce Grey

Silver Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Jun 24, 2014
374
597
255
He drove away from me as I was talking to him....so I got in my supercharged gold-plated course owner golf cart and chased him down driving one handed while madly swinging a five iron with the other....
I was sure that was where it was going...
 

Veloce Grey

Silver Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Jun 24, 2014
374
597
255
The only exception is cold, rainy, windy days. Sometimes the course gets shut down completely. So we don't like bad weather days during the winter.
What's the actual criteria for closing the course down in terms of water? Where I play it's a bit rural and possibly has amongst the highest rainfall of any course in the country, so I've had many days where balls on the fairway vanish under mud. If I play early morning in winter even on fine days the greens are covered in dew which tends to make putting quite tricky. But I'm not sure they really "close" the course as such unless the river alongside starts flooding it again.

I've been playing far more this year and got my first birdie ever last week. I've gone to the city a couple of times to play on fancier courses with bunkers/water hazards-the fact I scored 141 and then 133 leaves bountiful room for improvement :)
 

MJ DeMarco

Administrator
Staff member
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jul 23, 2007
28,817
97,920
3,751
Fountain Hills, AZ
The golf course is officially listed for sale.
Wow, I missed this.

Time for a new challenge? Retiring? Bored? Travel?
 
OP
OP
SteveO

SteveO

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
Summit Attendee
Speedway Pass
Jul 24, 2007
3,582
14,400
2,804
Wow, I missed this.

Time for a new challenge? Retiring? Bored? Travel?
Travel around the southwest in my 39' motorhome towing a jeep. I have a jeep that is built pretty well but still modifying it. Pulled the rear seat and put a dog bed in its place. Going to Moab, UT next week. Just got back from a week in San Diego. New Mexico, Colorado, and northern Arizona in July.

I have gotten back into running. Just finished a 10 mile workout. Maybe I can compete again. Always loved the "Hood to Coast" race up by Portland. May try to get on a team this year.

Managed to get into a house up on the mountain next to the 40 acres. So, building a house as well. Now I'm close to the site. Splitting lots, having them rezoned and putting them up for sale.

Lots to do!
 

Don't like ads? Remove them while supporting the forum. Subscribe.

OP
OP
SteveO

SteveO

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
Summit Attendee
Speedway Pass
Jul 24, 2007
3,582
14,400
2,804
What's the actual criteria for closing the course down in terms of water? Where I play it's a bit rural and possibly has amongst the highest rainfall of any course in the country, so I've had many days where balls on the fairway vanish under mud. If I play early morning in winter even on fine days the greens are covered in dew which tends to make putting quite tricky. But I'm not sure they really "close" the course as such unless the river alongside starts flooding it again.

I've been playing far more this year and got my first birdie ever last week. I've gone to the city a couple of times to play on fancier courses with bunkers/water hazards-the fact I scored 141 and then 133 leaves bountiful room for improvement :)
When the course gets so wet that golf cart traffic damages it, we will close. Pretty rare. People don't tend to play in the rain here. Lightning is a biggie though.
 

MetalGear

Gold Contributor
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Jan 24, 2017
432
1,078
368
New York City
Would not mess with the owner haha

Sent from my SM-G965U using Tapatalk
 

James Fend

Gold Contributor
FASTLANE INSIDER
Speedway Pass
May 4, 2009
1,250
1,578
521
Las Vegas, NV
Argh... I got back into golf after a 8 year hiatus. Really hardcore into it now. Your presentation at the Summit was great and this thread is gold.

If I don't catch you ever on your course, hit me anytime you're in Vegas and want to hit a round!
 

Create an account or login to comment

You must be a member in order to leave a comment

Create account

Create an account on our community. It's easy!

Log in

Already have an account? Log in here.



Don't like ads? Remove them while supporting the forum. Subscribe to become an INSIDER.

Post New Topic

Please SEARCH before posting.
Please select the BEST category.

Post new topic

New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Monthly conference calls with doers
Ideas needing execution, more!

Join Fastlane Insiders.

Top Bottom