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Chinese buying up Myrtle Beach courses


Aotearoa_Brad
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china cashed up.jpg

...okay, full disclosure, I just randomly found this photo... ;)

I'm not sure if this is a problem or not? Chinese nationals have been buying up residential properties for some time, and especially in New Zealand there is a tension with locals because it is making it difficult for young couples to purchase their first house when they're competing with cash buyers from overseas (not just China btw)...

 

...anyway... I'm not sure how many people are being left not able to purchase their first golf course in Myrtle Beach, so it may not be a huge issue...

 

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[by Kyle Porter | http://www.cbssports.com/golf/eye-on-golf/25115882/are-the-chinese-invading-the-us-via-golf-courses-in-myrtle-beach]

 

"They came with cash ... and they continue to buy."
 
That's certainly not a statement being made about many Americans these days, especially when it comes to golf courses.
 
However, the Sun News reported earlier in March that a bunch of golf properties in the Myrtle Beach area (a golf hotbed if there ever was one) are being bought by Chinese investors.
 
“You had a few low, really insulting offers that really weren't offers,” said Ed Jerdon, a partner in three Myrtle Beach courses that were quietly for sale recently.
 
“As far as selling a golf property now it depends on the purchaser, whether they can even get financing,” said Jerdon. “The Chinese, they came with cash ... and they continue to buy.”
 
The Sun News also reported that various Chinese investors have spent nearly $50 million on 13 courses in the Myrtle Beach area in the last two years.
 
“China has too much money right now," said one Chinese golf course investor named Xian "Nick" Dou. "[The government] is encouraging companies to invest overseas ... they have a lot of money, and where to go? Go overseas.”
 
They have been doing just that, with some Chinese also bringing their families over as a means of establishing a new life in the United States.
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Is the level of overseas investment in golf courses an issue? or is any investment a good thing?
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Yep they bought my home course amongst others. But for us locals it is a good thing because with that group now up to 13 courses we have access to many courses some that we could not afford to play before. The group is called the Founders Group because the first course they bought was Founders Club in Pawleys Island. Rumor has it that they are set to buy all the Myrtle Beach National group courses. From what I have seen they tend to do things right. I think overall it is going to be a good thing especially for us residents

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Driver --- Honma G1-X Stock R Flex----  3W Callaway Steelhead UST Pro Force Gold 65 stiff--- 2 iron 1980 Macgregor VIP Nike R flex-------- Irons 3 thru PW 1980 Macgregor VIP Hogan Apex shafts--- SW Cleveland 588 Sensicore S-400-- Putter Rusty Santa Fe Bulls Eye Fluted shaft-- Bag Old School Hoofer I had in the stash--- Goes along with my raggety persona

 

 

 

 

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Money is funny to say the least right now the world over. Everyone is cashing in before the global economy is tanked again. Looking for a home right now, I cannot believe what the market is like. Absolutely insane with all the cheap money floating about. Houses are selling in DAYS from listing.

 

Golf courses are some of the only large parcels of undeveloped land in a traditional sense. Foreign investors snapping it up is not a good thing. Most every course around here is such prime land to be developed. I worry about all the courses regardless of whom may be buying them.

 

The housing bubble in China is so huge, they can't even keep it all in China now.

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Apprenti not yet. I am trying to think what management group they are with. Sometimes it is hard to keep up with what group a course is with because they change a lot sometimes. Pawleys Plantation is a fantastic Nicklaus designed course has that screwey short par 3 over the swamp that us locals call "The shortest par 5 Nicklaus ever designed"

Driver --- Honma G1-X Stock R Flex----  3W Callaway Steelhead UST Pro Force Gold 65 stiff--- 2 iron 1980 Macgregor VIP Nike R flex-------- Irons 3 thru PW 1980 Macgregor VIP Hogan Apex shafts--- SW Cleveland 588 Sensicore S-400-- Putter Rusty Santa Fe Bulls Eye Fluted shaft-- Bag Old School Hoofer I had in the stash--- Goes along with my raggety persona

 

 

 

 

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Yep they bought my home course amongst others. But for us locals it is a good thing because with that group now up to 13 courses we have access to many courses some that we could not afford to play before. The group is called the Founders Group because the first course they bought was Founders Club in Pawleys Island. Rumor has it that they are set to buy all the Myrtle Beach National group courses. From what I have seen they tend to do things right. I think overall it is going to be a good thing especially for us residents

Wow Stu, a couple years ago we were at Wachesaw Pantation East and decided to play Founders Club.......absolutely awesome corse.....I love the fairway long waste bunkers and the par 5 with the split fairway. It will prob be awhile before we come back but when we do I'll let you know so we can play a round. I really enjoyed that day at Founders Club.

 

You have a great club.

Driver: PXG 0211 w/Evenflo Riptide CB Regular shaft  Fairways:  Cobra King F8 3-4W(16*) & 5-6W(20*) w/Mitsubishi ck Blue regular shaft Hybrid: Cobra F8 3 Hybrid(19*) w/Recoil ES regular shaft Irons: Wilson D7 5-PW w/Recoil 460 Regular graphite shafts Wedges: Cleveland RTX Zipcore(50*/54*/58*) w/True Temper Spinner Wedge steel shaft  Putter: 33" Evnroll ER2 w/Evnroll Gravity Grip Bag: Vice cart bag(Black).  Pushcart:  Caddytek 3.0 from Costco Ball: Maxfli Tour CG & Titleist Pro V1x.

 

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Apprenti not yet. I am trying to think what management group they are with. Sometimes it is hard to keep up with what group a course is with because they change a lot sometimes. Pawleys Plantation is a fantastic Nicklaus designed course has that screwey short par 3 over the swamp that us locals call "The shortest par 5 Nicklaus ever designed"

Haha definitely one of the shortest par fives in the country!!!

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Wow Stu, a couple years ago we were at Wachesaw Pantation East and decided to play Founders Club.......absolutely awesome corse.....I love the fairway long waste bunkers and the par 5 with the split fairway. It will prob be awhile before we come back but when we do I'll let you know so we can play a round. I really enjoyed that day at Founders Club.

 

You have a great club.

Actually Indian Wells is my home course it is around the corner from my house. I think you told me you played it before. Lately we have been playing Founders a lot because of the rain it has been mostly CPO at the Wells. Also the Wells gets a lot more motel and golf package play thus we have been playing at Founders a lot lately. I actually liked Founders when it was the old Sea Gull course but lately I have fell in love with the place. The more you play it the better it is

Driver --- Honma G1-X Stock R Flex----  3W Callaway Steelhead UST Pro Force Gold 65 stiff--- 2 iron 1980 Macgregor VIP Nike R flex-------- Irons 3 thru PW 1980 Macgregor VIP Hogan Apex shafts--- SW Cleveland 588 Sensicore S-400-- Putter Rusty Santa Fe Bulls Eye Fluted shaft-- Bag Old School Hoofer I had in the stash--- Goes along with my raggety persona

 

 

 

 

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There's another group which bought out most of the Century Partners run courses owned by a U.S. based PE firm, including mine in Houston. Good news is, the Arnold Palmer Management Group will no longer be ruining the courses. APMG is a horrible golf course management company!!!

 

http://www.businesswire.com/news/home/20141029006465/en/C-BONS-International-Golf-Group-Acquires-22-Golf#.VRCIYfnF8dc

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Actually Indian Wells is my home course it is around the corner from my house. I think you told me you played it before. Lately we have been playing Founders a lot because of the rain it has been mostly CPO at the Wells. Also the Wells gets a lot more motel and golf package play thus we have been playing at Founders a lot lately. I actually liked Founders when it was the old Sea Gull course but lately I have fell in love with the place. The more you play it the better it is

 

Indian Wells is a dry desert course... oh, you're not talking about California.  Sorry.   :)

I've played that one several times.  Does yours have an Indian burial ground between the fairways too?  Hit it there and you can't go get it!

We don’t stop playing the game because we get old; we get old because we stop playing the game.”

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