Message to Banks... WAKE UP!

The Golf Course Business is in a mess right now. We know they are using the term 'Toxic Assets' in the same breath as golf courses. You need to get out and get out fast!

I have private money ready to take you out. They're not angels, but they have cash.

If your bank has golf course loans out there you need to get out from under them ASAP! If you wind up with them on your lap they will drain your petty cash box dry - then you'll take a virtually 100% hit.

Call me: Mike Kahn, 941-739-3990, or email: mike@golfmak.com

BANKERS, LENDERS, ATTORNEYS: FIND OUT!

"A golf course is like a baby. It requires 24-hour care, 7-days a week."

How sure are you about the performance of golf course properties in your portfolio?

When the mortgage payments are on time, bankers don't to pay too much attention to the performance of a golf course - at least until it's too late. Operators can easily defer maintenance to cover debt service, because the results don't show immediately. However, deferring maintenance as a short-term cash remedy, will become a disaster.

It doesn't take long for a golf course to deteriorate. In fact, foregoing scheduled maintenance can result in lasting damage that takes years to recover - (I know. I've seen it happen). When conditions deteriorate, play suffers, because golfers will abandon a golf course when they see a lack of care. Ultimately, the Debt Service Ratio (DSR) falls below 1.25 and the lender is forced to make critical decisions to protect the investment in the property. When the banker finally realizes the seriousness of the situation, it is often too late!

Golfmak can help the lender's 'peace-of-mind' with a candid golf course operational review. We can spot deferred maintenance issues immediately - the warning of problems ahead. We point them out to the lender, who can see these items themselves. Then the lender can take appropriate action to ensure the bank's stake in the property remains secure.

THERE WILL BE MANY FORECLOSURES IN THE NEXT FEW YEARS. BET ON IT!

TRY A FREE CONSULTATION

Call: (941) 739-3990, fax: (425) 425-675-6909, or email mike@golfmak.com with a specific concern you might have about a financed golf course property. So far, every inquiry has received our reply - usually within a few business days. We've answered thousands of questions via email. We will not solicit you. It is up to you to indicate your desire to use our services. If we never hear from you again, that ends it. - Mike Kahn