Dang

[glenn57]

Just read this over on IDO, guess there is an article in the star and tribune today, 2 guys bought out 4 resorts up on LOTW's. To the tune of about 20 million bucks.

That's a lot of ching!

[LPS]

That happened last summer.  Pretty big deal. 

[glenn57]

That happened last summer.  Pretty big deal.

i talked to boar......yea he said that its been in the works for a while. i must not get out much!!!!!!!!

[Dotch]

That happened last summer.  Pretty big deal.

Is that the same outfit that bought out The Marina? 

[LPS]

The original campground owners bought the marina a few years ago and combined them.  There are campers at the marina too.  Now he retired and sold the campground/marina to Mike Reeds son.  I know Mike real well but don't know his son and wife.  Mike has Reed Realty here in town. 

[Gunner55]

Just read this over on IDO, guess there is an article in the star and tribune today, 2 guys bought out 4 resorts up on LOTW's. To the tune of about 20 million bucks.

That's a lot of ching!

I think LPS had a post or 2 on it, somewhere around the time he was posting about all the flooding up there too.

[LPS]

They also own a resort or two on the North Shore by Two Harbors. I think it was in that article also that the resorts up here make about 70% of their money during the winter ice fishing time of year. 

[dutchboy]

That kind of money is going all in after those 12" fish. 

I'll never visit any of the places so I wish them the best of luck and hope it pays off for them.

[glenn57]

That kind of money is going all in after those 12" fish. 

I'll never visit any of the places so I wish them the best of luck and hope it pays off for them.

well Dutchy.....we all took a vote.......you won and are delegated to go visit them places and report back..........

hey just check to see if they got that grain belt you drink!!!!!!

[dutchboy]

I said I wasn't going there. As I mentioned, I wish them luck, $20 mill is a lot of cash.

[glenn57]

I said I wasn't going there. As I mentioned, I wish them luck, $20 mill is a lot of cash.

[LPS]

Cash in the bank doesn't do much for an active person.  Last month farm land in NW Iowa sold for 30 grand an acre.  Is it worth it?  Absolutely not.  Is it a good business decision?  Maybe.  These farmers especially after their recent donations given to them that they have so much money it is better to buy the land at a loss initially and keep working it with their big equipment and employees.  If they don't buy it and the other guy buys it they will never get it.  Eventually no matter what they pay for it they will get it to pen out at a profit for them.  And they can keep their equipment and employees busy which is also a win win deal.