How to Buy a Ski Resort (at Age 22)
Jul 13, 2021•35 min
Listen to this episode in Metacast mobile app
Don't just listen to podcasts. Learn from them with transcripts, summaries, and chapters for every episode. Skim, search, and bookmark insights. Learn more
Episode 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:
- His first acquisition, Nordic Mountain
Official episode page & full show notes at AcquiringMinds.co:
For the best experience, listen in Metacast app for iOS or Android