How do I Buy a Sleep-Away Camp?

1). Contact professionals who work with camps. These people run fairs where families can investigate potential camps for their children, they help camps find staff for their camp, and they make connections between individuals who wish to buy and sell camps.
2). Scan ads and real estate listings to see what camp properties have come on the market. Talk to real estate agents who work in the area where you would like to establish your sleep-away camp to find out if they know of appropriate properties.
3). Evaluate the property. Assess its worth compared to its asking price. Pay an assessor to assist with this process. Having an assessor's estimate can serve as a powerful tool when bargaining with the owners.
4). Ask the local health department and fire department for their latest reports on the camp. These reports will indicate the kinds of repairs and renovations that the new owner must undertake to bring the camp up to code. The cost of these renovations and repairs can serve as a negotiating point when deciding on a final price for the camp.
5). Contact the local authorities, including the municipality, county seat or town council to ascertain their involvement. In some localities, such a purchase must meet the approval of the local authorities before it can proceed.
6). Create a budget and business plan for the new camp. Prepare to show financiers and investors how the camp will operate and how you can make the camp succeed. Before obtaining a mortgage, a bank or other lending institution will wish to ascertain that you have the necessary capitol for a down payment (anywhere from five to twenty percent of the purchase price) as well as the funds for needed renovations and improvements. Secure these funds before approaching a lending institution or bank to request a mortgage.
7). Approach several banks and lending institutions to ascertain the terms and conditions that each will offer for a mortgage. Compare the terms that each offers and decide where you wish to secure a mortgage. Prepare to meet the institution's requirements for a down payment. Provide proof to verify your existing funds for the down payment and renovations on the camp.
8). Secure your mortgage and begin to prepare the campgrounds for its first season.