My Golf Club Closed Without Warning =(

[CarlSpackler]

There's an update on this. The course was apparently purchased and they have been maintaining / restoring it to its former glory. 

[Jeremie Boop]

6 minutes ago, CarlSpackler said:

There's an update on this. The course was apparently purchased and they have been maintaining / restoring it to its former glory. 

Good to hear, always nice to know someone is restoring golf courses for play. No new news on the one here that closed. Last I heard they were asking 3x more than it was even remotely worth.

[mcanadiens]

8 hours ago, CarlSpackler said:

There's an update on this. The course was apparently purchased and they have been maintaining / restoring it to its former glory. 

Really? Haven't heard a thing about that.

Who? Is the plan private or public?

[CarlSpackler]

38 minutes ago, mcanadiens said:

Really? Haven't heard a thing about that.

Who? Is the plan private or public?

I had heard that someone started mowing and maintaining. It's private, but rumor is that a wealthy individual bought it. 

[David in FL]

10 hours ago, CarlSpackler said:

There's an update on this. The course was apparently purchased and they have been maintaining / restoring it to its former glory. 

All it took was for you to leave town!  

[CarlSpackler]

19 minutes ago, David in FL said:

All it took was for you to leave town!  

I guess. I doubt previous members will be allowed back without paying. It remains to be seen if it will be private or public. 

[WUTiger]

On 7/18/2014 at 4:32 AM, CarlSpackler said:

If I had the money, I would buy it. It's a tough business, but they haven't been beating down doors in the community either. The new "non-owner" ran an advertising campaign in the spring, but that was it.

Back here in St. Louis area, the golf courses with the best capital position seem to be those emerging from foreclosure. These courses went bankrupt under owner X, and then got bought cheaply by owner Y because the foreclosing bank didn't need the headache.

Owner Y then has a lower capital acquisition cost than competitors, and hence a lower mortgage payment: it's easier to turn the corner financially.

On the update: if the wealthy person can just buy it outright for cash, partly as a labor of love, it can be a go. A banker I know says people who buy golf courses or wineries have similar mindsets.

Edited July 3, 2017 by WUTiger