Looking for a Lake Cabin? Buy a Small Resort as a Family Retreat
When you are in the market to buy a personal cabin, you do your home work and look for the best location, amenities, setting and physical value. We recommend broadening your search to include considering a small family resort. There are substantial benefits to buying a small resort and turning it into a Family Retreat.
We are not only “resort brokers,” we all also have many years of experience as “resort operators”.
Did you know that resorters buy boats and motors at dealer cost? They do because the dealer gets a rebate from the manufacturer because the manufacturer wants their products used by the general public. How deep is your knowledge of depreciation, amortization and interest expense as “write offs?” Are you aware that making “capital improvements” (additions or expansions of the cabins) is another write off? How about travel to and from your personal resort, utilities, taxes, insurance and all the other expenses.
When you are not using your resort personally it can be rented and generating income. All reservations are via the phone and internet (example VRBO, vacation rentals by owners) and very manageable with local area folks helping with cleaning and maintenance. Do you know about “Gifting” to your children/beneficiaries without tax consequences? We can help guide you thru all these business intricacies and others in how to enjoy and operate a private resort. There are many small “mom and pop” resorts that are well maintained, in scenic settings that have high physical value but low economic value and thus struggle trying to be sold as an operating resort. These are the real deals with extra benefits to a new owner.