Own Your Own Country Club

The Great Recession has wreaked havoc on the real estate market but there is a silver lining in the shape of some amazing and unique deals. On today's CBS Moneywatch blog, I share one particular opportunity that is on the market.

Have you ever dreamed of owning your own country club? It might be easier than you think. On Tuesday, May 10, a Connecticut country club will be put up for auction. Located near Yale University in New Haven the 180-acre property includes a 24,000 square foot clubhouse an 18-hole championship level golf course, three pools, tennis courts, and a groundskeeper’s home.

The real estate auction, sponsored by Integrated Property Group LLC of Connecticut, offers the occasion to buy property while taking over an established business. Integrated Property Group requires a minimum reserve price of $1,590,000. That may sound steep, but remember, you’re getting 180 acres and several structures for your money.

For more details about how to place a bid, read today's CBS Moneywatch blog.

Ilyce R. Glink is the author of several books, including 100 Questions Every First-Time Home Buyer Should Ask and Buy, Close, Move In!. She blogs about money and real estate at ThinkGlink.com and The Equifax Personal Finance Blog, and is Chief Content Strategist at RealtyJoin.com, a community for real estate investors.