How to Buy a Ski Resort (at Age 22)
Podcast: Acquiring MindsPublished On: Tue Jul 13 2021
Description: Rick Schmitz was an inexperienced 22-year-old with no money when he acquired a run-down ski resort and turned it around.Key points from Rick's story:Rick Schmitz was a 22-year-old graduating senior uninterested in pursuing a career in finance.He saw a small ski resort for sale in his native Wisconsin. It had been on the market (and losing money) for 5 years.Negotiated the original list price down from $1m to $625k.Most banks rejected him outright for a loan, but gradually he cobbled together the purchase price.17 years later, Rick has acquired and operates 2 other resorts in the upper Midwest.Reach Rick Schmitz at:LinkedInHis first acquisition, Nordic MountainOfficial episode page & full show notes at AcquiringMinds.co:How to Buy a Ski Resort at Age 22
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