ABOUT ROBBS RESORT

ROBBS VALLEY RESORT
A Posadas Del Sol Company

Roger Morgan, Owner ….

When I bought Robbs 2 years ago my plan was to sell one or both of my other two projects in San Diego and concentrate on Robbs Valley Resort; kind of a semi-retirement project with my son Scott.   It was focused on fun, with the expectations of downstream profits, as we developed Robbs as a Private Residence and Recreation Club. 

The vision hasn’t changed, but it has been a rocky road getting there.  First of all, the downturn in the real estate and financial markets prevented me from selling my other two projects, so I am now impregnated with three projects, all of which need my full time attention.

Secondly, we have been deprived of the use of over half the resort and have been in litigation with the people we bought the resort from.  We will never recover the losses from the past two years, but we do have a court ordered settlement agreement, so hopefully the problem is now behind us.

The plan for Robbs is still the same:  1) Expand public services; 2) Increase lodging and recreational amenities in order to become a destination, family resort; and 3) Create a Private Residence and Recreation Club in order to sustain quality services year round.

Our immediate goal is to sell 10 to 20 Park models to owners that will make them available for rent when not being used for their personal benefit.  This will give us the ability to cater to families, or host church, clubs or corporate groups and have special events of all kinds.

Longer term, the Private Membership Club is the salvation.  Fractional ownership for leisure properties that are only used a fraction of the time makes huge sense. 

Instead of one cabin or toy, you have access to many, generally for less cost than for whole ownership of one.  No storage requirements.  No hassles.  Maintenance, cleaning and repairs are handled by someone else, and one has a higher level of luxury than they would normally have with whole ownership.

Robbs has historically been a seasonal RV resort permitted for 30 units.  There isn’t enough traffic to justify staying open for the public in the winter time, but for owners and members who like backcountry skiing and snowboarding, snowmobiling, cross country skiing and snowshoeing, Robbs is a great year round resort.

There are several possibilities for investing.

• One, we are offering a Founder’s Round with a lifetime RV Space, 1.5% equity in the resort for $110,000, with terms … 10% down and the balance 12% interest only for five years, and owner discounts on existing lodging, toys, food and beverage. (Roughly $1200/month)

• Two, buy a Park Model for $70,000 to $80,000, 20% down and 15 year terms.  When you aren’t using it personally, we’ll rent it to help offset your costs. You can lease a site for $400 a month for 15 years.  (Roughly $1200/month)

• Three, a partnership.  I have about $2.3 million invested, roughly $1.6 million in real estate and personal property debt.  I would contribute the resort to a LLC for $2.3 million, and sell 50% interest for $350,000.

• Four, buy the resort with reasonable terms.  While it would pain me to do so, I would prefer to place it in capable hands and focus on my other two projects than not do the job right.

Interested?  Contact Roger Morgan at (619) 475 9941.  rogermorgan339@sbcglobal.net.