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The following article was published in our article directory on April 25, 2011.
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Article Category: Real Estate
Author Name: Reckie S. Remmington
One way for savvy business people to earn handsome profits is to start a resort business and leave the day to day operations of the resort to trustworthy, reliable and well trained employees. And to start this kind of business, the entrepreneur needs to find available resorts for sale. But there are a number of factors that prospective resort need to think about before making an investment. These considerations include studying the current financial standing that the resort you are going to buy has, you also need to find out how many of the resort's current employees will stay on once you have assumed ownership and also, the chances that the profits will continue to increase after you have assumed ownership. And in order to get you started you need to find and buy a resort. One of the first things that you can do is to show your financers that you are capable of managing the hotel and be able to earn profits. It doesn't matter what the size of your resort is or how many features or amenities are present in the resort, it is important that you earn your lenders' trust when it comes to financing your investment.
You would need to do a thorough examination of the resort you are planning to buy. Try to find out too how long the resort has been operational and how many times the resort have switched ownership for the past few years, etc. Meet with the current owner and don't; be embarrassed to ask why he or she is selling the resort to you. Ask for the resort's financial statements for the last two years so you can see if this is an investment that you still want to make or not, depending on how the resort had been doing financially for the last few years. And when you are making an offer, state a price that is fair to both you and the current owner; consider of course the amount of money that you will get through financing and if you think that there are a number of repairs that needs to be done, you can ask the current owner to lower their asking price or fix it up before you proceed with the sale.
Make a decision on the final terms. Final terms will include the final purchase price, how much the downpayment will be and when will you finalize the sale. Make sure that you have a lawyer to help you go over all the details and process of finalizing the purchase of the resort.
Keywords: resorts for sale
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