How to Buy a Ski Resort (at Age 22)
Podcast |
Acquiring Minds
Publisher |
Will Smith
Media Type |
audio
Categories Via RSS |
Business
Entrepreneurship
Investing
Publication Date |
Jul 13, 2021
Episode Duration |
00:35:01

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:

Official episode page & full show notes at AcquiringMinds.co:

Rick Schmitz was an inexperienced 22-year-old with no money when he acquired a run-down ski resort and turned it around.

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:

Official episode page & full show notes at AcquiringMinds.co:

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