Helpful Resort Buying Information

Down Payment Requirements
All resort purchase loans require a cash down payment, typically 20 to 30 percent of the selling price.

About Gary Cooley

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I am a licensed Arkansas real estate principal broker in Mountain Home, Arkansas, a member of the local MLS, and a member of the National Association of Realtors. I have specialized in tourism property sales since 1995. My wife Mary has been my assistant all those years. She was not a licensed real estate agent until September, 2007. However, due to my work load, I had to have a licensed assistant and naturally she was my first choice.

I have been paid fees or commissions for bringing to market and/or selling over 53 area tourism businesses, which is about half of this area's 100 or so tourism operations. I can show you any resort or tourism property you wish to see that is listed in the MLS. I also have special showing arrangements with resorts not listed for sale in the MLS.

I have a strong working knowledge of the tourism industry because tourism is what I do, every day of my working life. Because I am a tourism specialist I do not have time to work with other types of properties, such as homes, land, or other commercial real estate. I work with small resort owners and tourism businesses on a daily basis in several capacities in addition to selling their properties. My knowledge of small resorts and Ozark tourism success extends way beyond real estate.

My wife Mary and I own and produce The Ozark Mountains Website, which is an online tourism publication with an average monthly readership of 50,000 to 70,000 persons, making it the area's most-visited tourism Web site. In addition to producing OMW, Mary and I currently produce online tourism advertising and Web sites for 90-plus area resorts and tourism business, and we expose that advertising to our OMW readership.

Based on publicly available figures, OMW creates more exposure for this area's tourism industry than any other tourism information source. Without our clear understanding of what the American Consumer wants in travel and hospitality, OMW would not be where it is today. OMW first appeared on the World Wide Web in April of 1995, and it has been responsible for many millions of dollars in tourism sales for this area every year since. This statement is not meant as a brag, but rather to make the point that Mary and I have a clue on what it takes to succeed in Ozark tourism.

Before we develop a tourism business Web site, Mary and I go out to the property and spend several hours with the owners. Our goal is establishing an advertising strategy for them that will work well on the Web as well as in print should they so choose. Because we have done this since 1995, we have learned a great deal about what works and what does not in small Ozark resort operation.

In the process of bringing over 50 resorts to the market, I have spent hundreds of hours discussing resort financial statements. I have seen first hand many times, in many different situations, what makes a small resort successful, and what makes them fail. This is the knowledge I share with you when you work with me as your small resort real estate agent. While I will not discuss the names of the people or actual resorts involved, I will discuss the out come of any given strategy.

The reason I have worked with more owners than resort properties is because several resorts have had more than one owner since they became OMW customers. And I have worked with a few resorts which changed ownership three times, and with several more which have changed ownership two times.Thus I have considerable first hand experience in seeing how different management styles affect the same resort operation. Without identifying individuals, I share this knowledge with you as we look at resort properties.

It was the Blackburn family of Mountain Home who had this area's first small resort operation, which opened in the mid 1940's. Due to material shortages resulting from World War Two, the Blackburn family made their own bricks and built their resort by hand. Over the next 30 years they owned a total of seven resorts in this area. Blackburn and Company Real Estate, now closed due to the death of Charles Blackburn, sold more resorts than any other agency in this area.

It was under the experienced and watchful eye of Charles Blackburn that I first engaged in resort sales. I learned a great deal from Mr. Blackburn. I also learned a great deal from the many wonderful people who are resort owners and OMW customers. This area has some of the smartest and hardest working small resort owners in America. They are some of the most successful that I have found anywhere. They all have contributed greatly to my education over the years, for which I am very thankful.

I have seen many tourism businesses succeed, some go bankrupt, some just break even, and a few become worth well over a million dollars. I have seen top quality properties run into the ground, and I have seen old run down resorts become million dollar winners. This is the level of knowledge you need in today's very competitive small resort market. Settle for nothing less if you want true success!

I use the theme of Small Resort Millionaire because it is very possible to build a net worth of over a million dollars owning a small resort. But even if you never obtain that millionaire level, you still can live a rich, and profitable lifestyle as a small resort owner. You'll enjoy a fun challenge and a very independent way of life.

Ozark tourism promotion is what I do, every working day, because Ozark tourism is my passion. If you think that you too might also share this same passion, give me a call today!

Contact Gary Cooley

The Small Resort Millionaire

During 2007 I am writing a book about how to become a millionaire with a small resort. By millionaire I mean a true net worth of one million dollars or more. Some of the articles on this Web site have a header entitled "Excerpt from Small Resort Millionaire". These articles are taken from the book draft.

The book was inspired by the hard-working resort owners I have had the pleasure of working with since 1995. And yes, more than one as achieved millionaire status! Several more are on their way to achieving millionaire status. Some will never make millionaire status, but they still enjoy a wonderful and financially successful lifestyle.

As I mentioned above, I have watched small resorts that were making good money suddenly go bankrupt. And I have seen old run down resorts restored and sell for over a million dollars in 5 years. I was called in as a consultant on a small resort that had been very successful in years gone by, but under new ownership had lost money, despite impressive amounts of capital infusion. The new owner spent $10 million doing things "his way", but the place sunk into ruins and sold for less than a million dollars after almost 10 years. Now under new ownership, it is once again on the rise.

Why is it that some fail where others succeed? Is it management? Is it advertising? Is it location? Or is it due to sudden turns in consumer demand?

What is it that makes the successful so successful? Attitude? Being hard working and frugal? Or do they just have the Golden Touch? Do they have some special talent for making people feel good? Do they have a strong passion for the small resort lifestyle? How did they buy right, build right, and make that million dollar net worth?

Small resorts in America are a dying breed of lodging business. There are now less than 1,700 small resorts left in America. In other words, if you are a small resort owner, you are indeed a rare breed. Owning a small resort is not like owning any other type of lodging facility. Ironically, even as the number of resorts in America dwindle, the demand for the small resort vacation is growing, especially here in the Ozarks. Shrinking supply and growing demand - that's a formula for success!

Now, more than ever, is the ideal time to become a small Ozark resort owner!

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