Golf Course Development
By: Jackson Fields
Cost of Land
Finances of Golf Course
Finance sources value a golf course primarily on cash flow history, "Showing a clear ability of the business to repay the loan." A golf course showing no earnings will not have good luck getting financed unless the borrower offers other sources of collateral to the banker. The lender will base its comfort level on a debt service ratio (DSR), which is the cash flow available after all operating expenses divided by the annual debt service (excludes depreciation, amortization, but includes 2 continginciesbased on gross revenues: 4% to 5% management, and 2% to 3% for capital reserves. The lender will consider the quality and condition of the property, and things like location, strength of income history, appraisal, etc. The experience, skill and risk of the buyer will also be a highly important factor to a lender. A comfortable DSR established by the lender, usually no lower than 1.25 to 1 (2004 - I'm raising the DSR threshhold to 1.35. This business is too risky for a 1.25 DSR in my opinion). Therefore the $3 million golf course earning $300,000 a year could qualify for an annual mortgage payment of as high as $240,000 (300,000 / 1.25 = 240,000).
Therefore, an experienced golf course buyer could borrow up to $2.6 million at 8% over 25 years on our $3 million dollar golf course.
Dominion
Indian Creek Struggles
Salary
Golf Course Superintendent 57 salaries$46,216
Head Golf Professional 17 salaries$35,000
General Manager, Golf Course 17 salaries$39,690
Assistant Golf Course Superintendent 14 salaries
These are the parts of the golf course and there salary as you see they do not get paid much but the higher up you get up in the business you get more money.$35,000
Maintenance
Bridlewood Golf Course
Website: http://www.bridlewoodgolf.com/default.aspx?p=DynamicModule&pageid=385669&ssid=304839
Phone: (972) 355-4800
Facebook: facebook.com/bridlewoodgolf
Twitter: @bridlewoodgolf
Other Things the Course Needs
Succesful Golf Courses
This will show me how to make and run my golf course how the great ones do and make it so it can maybe be like the great golf courses one day.