Why marinas / mechanics charge so much.

[rbh]

Re: Why marinas / mechanics charge so much.

It sounds like owning a marina is a way to invest in lake front property, which is a premium investment around here.
Take the cost of the land out of the purchase price, what would it be worth then???

Condos, campground, storage fascility, what else could you use the land for and still run the marina?

and as others have said, you need to diversify, 4 season thinking.

 

[jkust]

Re: Why marinas / mechanics charge so much.

Interesting thread. We get maybe 3 good months of boating up in northern MN where the majority of our lakes reside. We also have very, very few actual marina's as described above. What I see a huge amount of are resorts for sale here. I don't know what happened the last 5 years that makes everyone want to sell their long held resort in the worst economy. I often wonder what makes people get into the low margin/high labor business they do. My wife makes around 90% net profit on her business and it baffels me that so many work for single digit margins. If it is a labor of love and you are independently wealthy I get it but otherwise life is too short.

 

[roscoe]

Re: Why marinas / mechanics charge so much.

My wife makes around 90% net profit on her business and it baffels me that so many work for single digit margins. .

And that would be in what field? if you don't mind telling.