resorts for sale

Small Resort Millionaire
Resorts For Sale in the Arkansas Ozark Mountains
Bull Shoals Lake - Norfork Lake - White River

Since 1995

Gary Cooley, Real Estate Broker Resort Specialist
Mountain Home, Arkansas

FAQ#2 - Can You Make Enough Money With A Small Resort?

So you want out of the Rat Race? I don't blame you. I left it 11 years ago and don't miss it at all. Yet giving up your job, or even risking your retirement nest egg can be worse than staying in the rat race. Who wants to give it all up only to go bankrupt? So can you make good money and have a decent lifestyle owning a small resort?

The answer is a long one. It takes more space than what I'll use here. The short answer? Well . . . It depends on what you consider a "good" income and a "good" lifestyle. Even more important is understanding how a small resort actually builds wealth.

If you manage right, a small resort can turn into a gold mine. And if you enjoy working with people, or if your spouse does while you fix things, it can be a wonderful lifestyle. Personally I can't think of too many better ways for children to grow up than on a small resort.

What generally does not work well for a resort with less than 15 units is two families owning and operating the property. You'll need at least 20 units and additional services like boat rentals or whatever to make it work for two families, or a partnership of some kind.

Another thing that works as well as trying to herd cats is out-of-state ownership.  You buy it, then hire someone to run it. That I don't recommend unless whoever you hire is as loyal to you as your dog. I hate to say it, but every case of absentee ownership I have seen has been a disaster because employees stole the owners blind.

As I have said in other parts of this Web site, over the years I have seen resort owners build wealth up to a very nice level, a few have made millionaire status. And by millionaire, I mean a true net worth of a million. It does not happen often, but it can be done.

A more likely scenario is that the small resort, if bought and run right, will not make you worth a million bucks, but it will come close. However, the secret to it all is understanding that building true wealth is not like getting a paycheck every two weeks. Its much better than that!

Many small resorts will not gross more than $65,000 to $120,000 a year. A few will hit the $200,000 to $350,000 mark. But they are somewhat rare. Plan on more in the $60,000 to $80,000 range. BUT!

Remember that while $65,000 does not seem like much compared to a normal annual corporate salary, that $65,000 has a hell of a lot more buying power to it than a paycheck. Once you understand how  your small resort works in the process of earning that $65,000, you'll never want that paycheck again.

I'm not talking about anything illegal, or even in the gray area of tax law. I'm talking about very legal wealth building, things you can't do with a paycheck and a house. There are three very distinct ways to build wealth with a small resort that are not possible working for Mother Corporation.

When you are ready, give me a call. We'll talk about it a little more. We'll discuss both lifestyle and wealth building. My motive? I want to work for you as a Buyer's Agent. I want to show you resort properties, help you find the right one, and help you buy it right.

Other Helpful Information For Resort Buyers & Sellers
1. Cooley's Guide To Buying A Resort
A candid and comprehensive look at finding, buying, and operating a small Ozark resort. Explains what to look for, and how to determine if the resort owner lifestyle is really for you. Based on over 35 years experience of those within the industry. A definite must-read for the serious would-be resort owner!

2. Do You Need A Real Estate Agent?
Not a sales pitch to use an agent, but a realistic look at the experience needed for anyone buying or selling small resorts.

3. Frequently Asked Questions - For Buyers and Sellers

4. Back to Main Cooley's Resorts For Sale Page

Cooley's OMW Tourism Sites
See what area resorts and tourism businesses look like and what they offer. Links lead to main directories for each lake and the rivers. OMW Main directory gives links to many area resorts in one place.

Norfork Lake - See resorts operating on Norfork Lake
Bull Shoals Lake - See resorts operating on Bull Shoals
White River & North Fork River - See resorts on the White and North Fork Rivers
OMW Main Directory - See resort links for rivers and lakes in one place

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