re: The Oaks is trying to get enough members to go private again..

You are correct, the island is offering a "cheaper" deal. Our target is not for those looking for the next "deal". We are looking for the person that sees value in belonging to a private club in the middle of BR. Also value in owning this property free and clear of debt.

You're right...2.7 is a lot. But it's an investment. We will own this free and clear of debt. And there is NO QUESTION, we will have to upgrade the course. The first objective is to replace the irrigation system. If we get to our commitment level, we can do this within 12-18 months. After that, we will continue to upgrade the course and facilities. It's going to take time to get this to where it can be. But we will work towards that ASAP.

Cost to upgrade irrigation would be hefty. Of course depends on scope. @275 per month seems like a lot of supplemental income will be needed.
Unfortunately I never got to play at sfcc but remember driving by it when I was growing up. Golf business has jaded me on the industry.

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The first objective is to replace the irrigation system. If we get to our commitment level, we can do this within 12-18 months

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I hope you don't plan to tack on more debt in order to get this done

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Absolutely not.

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Then how do you plan on paying for it.

Good luck, BP. I know you would rather investors than guys wishing you well but I'm already a member somewhere. Too many kids to do both. I think you have a really good chance of pulling this off.

BP - couple of thoughts:

1) Gettign 450 people at $6k is going to be very, very tough. Just not going to happen in my opinion. But, you can get there if you drop that investment to say $3k. You would be able to knock your debt in half, and get a new note for 5-10 years. If your projections of $150,000 are near correct, you would have plenty left over to service that kind of note with relative ease.

2) Offer an incentive. For instance, make new membership after this initial offering a $5,000 investment, with $2K going to the "pay back the original purchasers" account (i.e., every new member after this initial offering would help pay back the original investment of your first 450)

IF you can get to 450 members who are invested and play there bi-weekly or more, you can make some good money on food/beverage with them which is a nice little additional revenue stream. you can have poker nights for members, rent out rooms for special events, eetc...