2012 - THERE'S NEVER BEEN A BETTER TIME TO BUY A GOLF COURSE.

Mike Kahn, Golfmak, Inc., Email: mike@golfmak.com, Golf Course Consultant, Real Estate Sales Associate, Director Golf Course Division, Prime Sites USA, LLC, Clearwater, Florida.

We have a golf course available for under $1 million that could not be replaced for $4 million. Have a look: Ironwood

A $2 million dollar Illinois golf course for $475,000 for one of our buyers! It was making money.

The golf business depression (2001 through 2005) may be near its end:

1. Growth in Rounds - Stable
2. Growth in Revenues - Recovering in some areas
3. Golf Course Prices - Some showing stability. Others beginning to rise.
4. Interest Rates - Not bad right now (2006)
5. Planned New Golf Courses - Down- Maybe the first decline in golf courses since WWII. Good news for the survivors!

In my 53-years in golf I've never experienced a time when one could buy a golf course for less than half of what it costs to create. In fact, today you can buy a fully equipped, full length championship golf course with what was the down payment ten years ago. And debt service is not the burden it was in the 90's.

Golf is still in a temporary crunch, but therein we see the opportunity! You're buying golf courses at ½-price or even less - courses that *should enjoy exceptional cash flow and capital appreciation over the coming years. Today's buyer needs to be careful not to allow trivial issues to obscure the big picture - long term capital opportunities. However, it might require a little 'patience and TLC' in the short term.

(*should: Meaning golf courses with competent management)

Hey! It's better to buy a golf course now at ½ price and wait it out, than pay two or three times the price five years from now - likely with interest back at 10%. I believe a few years of hard work will pay off handsomely.

AN OWNER-OPERATOR CAN LIKELY MAKE A DECENT LIVING - EVEN FROM A GOLF COURSE APPARENTLY NOT SHOWING EARNINGS.

If you buy a golf course as an on-site owner-operator I believe you can make a decent living for you and your family with a reasonable work ethic - even if the course you buy is not currently indicating earnings. That's because you will replace and recover 'fat' (management fees, corporate overhead, salaries, and benefits) directly to you, and there may be more. In my experience, an on site owner-operator is worth at least 20% 'found money' just for being there. In fact, that's the pleasant surprise many first time golf course owner-operators experience.

With hundreds of courses available, let us help you acquire a suitable golf course. Outline the course type, geographic location, price range, and time frame you have in mind by email to: mike@golfmak.com. Let us know what cash you have available, which helps establish financing needs. It is important to include your business and/or golf business background if you plan to seek financing. Be sure to review our tips and pointers about buying, financing and owning golf courses (go back to the opening page for links).