A lodge/camp/resort is a much more complex business than your typical lake cabin and requires a large financial investment to get up and running. As a result, many owners over pay for these types of properties. It is very important that you understand how to evaluate and properly value a hunting property before you commit to buy one. This article will outline a number of the key factors that need to be considered.
The first consideration should be the potential for a positive return on your investment. The best way to do this is to look at the historical performance of similar lodges, camps and resorts in the area over the last couple years. It is also a good idea to look at the local tourism industry, what major economic factors are affecting it and what the long term outlook appears to be. Click here https://www.sellmyhousefasthoustontx.com/we-buy-houses-mckinney-tx/
Another very important factor is to make sure that the property you are considering has sufficient acreage to support the activities you envision. This is particularly true if you are looking at the purchase of a hunting property that will also serve as a place to host family and friends for camping trips throughout the year. Having adequate water sources is essential as well. The critters like to hang out where there is plenty of cover to hide in, abundant game food and multiple water sources to quench their thirst.
Once you have done the initial research and found a property that interests you it is very important to resist the urge to get a deal done. This type of transaction is a
business transaction and it is very important that you focus on working with the seller to get the most advantageous deal for you and your future as an owner.
It is very common for lodges, camps and resorts to sell for significantly less than their asking price, especially during a period of time when the tourism industry is down. A good rule of thumb is that you should be willing to pay 25% of what the seller initially asks for.
Finally, when purchasing a hunting property it is a good idea to have a trusted advisor assist you with the purchase. These advisers can help with all of the issues that you may not have the expertise in dealing with such as negotiating, land ownership and financing. They can also help you to develop a business plan and financial model that will provide you with the information you need to evaluate the purchase from an investment perspective.
If you are thinking about buying property for a fishing or hunting lodge you should contact a United Country agent, broker or affiliate that specializes in this type of real estate. They will have the knowledge, experience and connections needed to guide you through this exciting process. The agents, brokers and affiliates that specialize in this type of real estate live the lifestyle as well and have a unique understanding of the nuances of this particular niche market.
