I have a friend from high school who owns a fairly large construction company in Florida. He has a lot of friends, including one who is high up at Vail Resorts Management. He invited me to his investment group for this project (including his friend). We are putting in an offer to buy a 1000 acre mountain and ski resort. We have a group of about 15 people who are each putting in 200K.

Right now it is only generating a net of about 200K. It is owned by a cohort of retirees and they don't seem interested in building it up more. There are no Summer activities right now, very few buildings up there outside of a sales office and ski lifts, and tons of room for development. If we end up getting it we will build a ton of restaurants/shops up there and try and get a major hotel brand to open a place. This is a very long term project but could be worth deep 8 figures if we make it work.

No clue if this will actually pan out but we are meeting the board of the company that owns the mountain next month and we will put in the offer.

Seems like it could be a fun project.

(http://www.autoadmit.com/thread.php?thread_id=4177231&forum_id=2#37587555)

and if it is underdeveloped or is disrepair you are goin to need to spend your own money building it up... u shldnt expect to get a hotel or others to do stuff

(http://www.autoadmit.com/thread.php?thread_id=4177231&forum_id=2#37587646)

-obviously there will be signifgant additional investments required to turn it into a competitive resort, ESPECIALLY out West. I'd would familiarize yourself with the story of Jay's peak in VT to understand what the competition is like. Jays peak became one of the best east coast resorts (Waterpark, good restaurants, etc) because they had a million Chinese all cash investors who threw in $500k to take advantage of the EB-5 program + get greencards + kickback money and didn't gaf about the returns. Things are better out west but look at Solaris to see what your up against. I'd make sure there is a clear vision between the partners about the vision and how long you are willing to let a losing hand ride because your competitors have very deep pockets

Good luck tho. I'll be skiing in Utah in a few weeks

Also lots of good/interesting info in the 10-Ks of vail and shit about this industry. I'd do it; these things are cash cows

(http://www.autoadmit.com/thread.php?thread_id=4177231&forum_id=2#37590820)

Snowbird: on a good snow day is unreal, gets chewed up faster, definitely have to pay attention if you don't know the mountain because there are pretty cliffy spots you do not want to get stuck at

Brighton: extremely local snowboarder vibe, grungy, mostly lower angles so risk not as high, all in all a very cool spot with the only night skiing in the area

Solitude: gigantic groomers, fun canyons and trees if the snow is good, friendly family spot next to Brighton

Deer Valley: no snowboarders, also expensive and close to Park City, fun trees because there are no locals there that go off trail, very funny experience given the high level of unnecessary service, great food

Odgen: really hope it's odgen lol place is awesome

(http://www.autoadmit.com/thread.php?thread_id=4177231&forum_id=2#37590862)

Or hire my firm.

(http://www.autoadmit.com/thread.php?thread_id=4177231&forum_id=2#37591684)

This wild comedy is an intoxicating mix of mountain-high hilarity and radical winter sports action! For snowboarders Rick (Jason London), Luke (Zach Galifianakis), and their buddies, life at the Bull Mountain ski area is about partying hard, looking for girls, and doing anything for a good time! But when the town's founder dies, his son decides to sell the mountain to a sleazy developer (Lee Majors) who's intent on turning Bull Mountain into a slick yuppie ski resort! Featuring outrageous stunts by real-life snowboarding champions like Todd Richards, Rio Tahara, Tara Dakides, Devun Walsh, and Rob "Sluggo" Boyce -- it's an avalanche of laughs as the guys do whatever it takes to save their mountain.

(http://www.autoadmit.com/thread.php?thread_id=4177231&forum_id=2#37591105)

Building a ton of restaurants and shops is going to cost a shit ton of money that will dwarf your initial investment

(http://www.autoadmit.com/thread.php?thread_id=4177231&forum_id=2#37591527)

Or see if you can put it in Senator Bookers opportunity zone, then you can do a non-like kind 1031 exchange.

(http://www.autoadmit.com/thread.php?thread_id=4177231&forum_id=2#37592147)

It is like you don't even want to make it.

(http://www.autoadmit.com/thread.php?thread_id=4177231&forum_id=2#37592168)

Seems like more of a lifestyle investment than anything else.

(http://www.autoadmit.com/thread.php?thread_id=4177231&forum_id=2#37595168)

If a 1000 acre ski resort is only netting $200k it must be in absolutely shitty shape.

(http://www.autoadmit.com/thread.php?thread_id=4177231&forum_id=2#37598157)

What's its revenue and fixed expenses youll have to incur? If its revenue is like $20 million and they are only making $200k you could easily lose everything you invest.

(http://www.autoadmit.com/thread.php?thread_id=4177231&forum_id=2#37598183)