Hotel/Casino - Posted by Paul Burgin

Posted by Paul Burgin on October 07, 1999 at 09:34:02:

I was talking to my NEW agent yesterday, who filled me in on a listing he just got that has not been marketed yet, nor will it be for about 4 weeks, due to his Broker being out of town.
There are 2 Indian Casino’s in the hills around here, and one of them has a tribal member that owns 27 acres adjacent to the casino. He is not part of the council, and just wants to move up to his 40 acres up higher in the hills. His land is not Indian land and it has 2 natural hot springs on it. I was told by the agent that a couple of years ago, the tribe was looking for investors to come in and build a Hotel/RV Park on their tribal land. That didn’t happen then, but now that this property is up for sale at a Motivated Price, and the location is prime, it seems like an interesting opportunity. Being new at this, I recognize the potential, but have limited knowledge on how to develop this into anything. The land would need to be re-zoned, that I do know.
If anyone has an idea, or knows of investors that are into this kind of venture, I’d be interested in knowing which way to proceed, if at all.
Happy Investing!