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| Minnesota Resorts For Sale |
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- Are you
looking for a resort to buy, but can’t sell your
home to come up with the down payment?
- Are you
unable to find a resort that has expansion
room, a decent home, and one that makes
adequate income to make the payments?
- Are you
looking for a broker to represent you in finding
your right resort? One that can make offers,
write purchase agreements, handle income
projections, and help keep you safe with your
resort purchase?
Norm Cole, the broker
and owner of RSG Inc., has owned several resorts and
campgrounds and will help you with your search for
the right resort. |
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Because over 6000
resorts are no longer in business today, there
remains very few existing resorts that will meet
your needs. Most remaining resorts for sale have
been by-passed by the developers because; they have
limited amounts of land and lakeshore, are on too
small of lake, are on sites with busy roads, too far
from good tourist towns, and they are over priced.
Yet there are still a few top level resorters who
resisted the developers grasp and are setting on
good resorts. These remaining quality resorts only
sell when a spouse dies, a divorce happens, when a
serious illness occurs with an owner or when the
seller runs out of birth days.
These resorts will be in good repair, have a decent
owners home, will have a good cash flow and will be
priced at about .8 or .9 Capp rate. The owners do
not need to discount the price in these hard
economic times.
There seems to be lots of buyers looking for
resorts, but they can’t come up with down payments,
due to homes not selling..
So what can be done to help a buyer get into a
resort when his home will not sell? |
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- Your 401k can
be used for your down payment. There will be
no taxes or penalties if you invest your 401k
into your own company. Then your company buys
the resort using your retirement funds. This is
a great idea for several reasons.
- We can ask
the seller to help you with the down
payment. There are several ways the seller can
help.
- You can find
an investor or partner to share in your
resort dream
- You can have a
family member come in as an operating partner.
- You can do a
rental purchase for the resort
- You can trade
your house with the seller for your down
payment.
- You can
borrow on your home and adjust the resort
payments to handle the house payments until it
sells
- Lots of other
ideas to explore
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| Stop trying to
handle all the problems of buying by yourself and
give Norm a call today and give him the
responsibility to handle your purchase problems. |
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Norm Cole, Broker/Owner |
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