There are various reasons why people want to own golf courses. Some high-net worth individuals simply do it for the prestige. Other people invest in courses because the unique nature of these leisure real estate assets represent sound business strategies for both short- and long-term situations. For Joni and Ted Smith, who purchased struggling Milledgeville County Club three years ago in central Georgia, it was personal. Not because they have a certain affinity to the game or

By Scott Kauffman There are various reasons why people want to own golf courses. Some high-net worth individuals simply do it for the prestige. Other people invest in courses because the unique nature of these leisure real estate assets represent sound business strategies for both short- and long-term situations. For Joni and Ted Smith, who purchased struggling Milledgeville County Club three years ago in central Georgia, it was personal. Not because they have a certain affin