Purchase Vacation Resort on Table Rock

[Bern Hiebert]

Hello, 
My husband and I are small multi family investors in Kansas and found a vacation resort on Table Rock Lake we would love to purchase if it makes financial sense. We have personally stayed at this resort many years ago and thought it was such a beautiful place and if it ever came up for sale would love to buy it. Well its now for sale !  

We are not at all familiar with this type of investment and would like any help or tips we could get on how to manage a resort. This property is located on almost 10 acres, has 32 RV and Tent spaces, 14 houses that sleep 120 people, boat slip which hold 12 boats that are rented out, a pool for guests, a rec room for guests with seating, tv, pool tables, etc., a small general store and much more.  There is also a main house on the property that my husband and I talked about living in so we could be at the property to manage everything. We would of course need to hire part-time help as well. 

If anyone has dealt with this type of property I would love to pick your brain as I have lots of questions !

Thanks

[Zach Edelman]

For a property like this you will definitely need to seek a commercial lender or a local bank with regards to financing. There are also a lot of good creative financing options in the hotel/resort world as the "boutique hotel" concept starts to become more popular amongst STR investors.