Oklahoma Marinas | Parts and Services

OK we’re back for our next segment as we talk about the Oklahoma marine experience that we’ve had at both. Now Keystone and sky like. We were just about to talk about the cottages cottages were a very interesting project for us. We we began that project in around 2008 2009. We had a hillside that adjoins the marina just immediately to the north. An incredible piece of land. Not that large I’d guess maybe three acres maybe four in total but a very dramatic hillside that overlooks on the south the marina restaurant operation and then looks out on the longest part of the lake. Back towards the west. You see beautiful zinc ranch right across the way. I would say it’s as beautiful of you as there is in Oklahoma it’s just breathtaking sits about 100 feet above the water. So. In working with the Corps of Engineers they have a rule that if you have a lease normally. Oklahoma Marinas. The lease only allows you a. If you’re a investor and the investor is somebody that can either be ourselves that holds the lease sublease or can be an individual. You can let an individual build a cottage but that has to be available or cabin that has to be available to the public for their use. Under certain criteria including no more than your personal use of it of 120 days and those days cannot be consecutively more than 14 days in any one month. So say a person does want to be an investor and own one of the cottages. Then the way that that would work is that you could use that 14 days at the end of a month and then 14 days at the beginning of a month consecutively. That’s the only way you could stay for almost a month even though at your cottage the rest of the time it has to be available in records must be kept that it’s been made available for public leasing public rental and that has become a significant business at that Oklahoma marina that we call cross timbers. It is a. We have now 14 of these cottages and they have been very very popular. They range in price from our I would say 250 Anite up to over five hundred dollars a night because the largest one is actually a three bedroom three bath very large cottage. That’s more like a house. It’s very significant. It’s been very very popular with the folks wanting to have a retreats where they have family members and and also I’ve been surprised by the demand based on the price but it’s a truly a world class experience to stay there. Oklahoma Marinas. We go down in size from there we’ve got several that are two bedroom two bath units and we have some as small as one bedroom one bath. We have some that are one bedroom one bath with a sleeping loft which are very popular with the kids. And again these range in price from roughly 150 $175 up to 250 to 300 dollars per night depending on if you’re in season and on a weekend. The. Exciting part of this that helped lead to our nomination for the Green gave award. Again we were the only Oklahoma marina and actually the only Marina anywhere in the US nominated by the Corps for that award. Oklahoma Marinas. These cottages played a hand in that nomination because they are they meet what would be green job approval their lead standards the environmental construction process that it creates what’s called Lead Ltd in the lead standard includes the very importantly the building materials. Well these cottages are actually pre manufactured very very clean. Process out of Athens Texas is where we bought most of these cottages that aren’t stick built and they use Hardie plank siding all of our materials and our marina dock shop our marina ships store our restaurant are built from hardi plank siding and that is a seam and takes just material handy men are pretty familiar with it. Builders are familiar but the average person may not have heard of hardi plank. You can actually buy at Lowe’s and other home service stores because once it’s painted you don’t have to paint it for another 10 years so it’s got an amazing your ability on holding paint. And most importantly because it seemed Tasha’s you don’t have any of the rot or other degradation challenges that you have with traditional building materials. So the cottages the majority of them are built from that. The Athens park homes people that we’ve worked with in the past and there’s several construction companies and taxes and other parts of the US that build and ship manufactured cottages these are actually built. On. I-beams and are transported down the road and many people don’t understand how well built they are. But I mentioned to people well if you paid your house on a trailer and carried it for five six hundred miles what kind of shape you think it would be and at the other end of the trip and most of us know it would have pretty much broken up on the highway. So these are extremely well built how they are manufactured is a fascinating thing to say and you actually can take factory tours in Athens Texas. There’s another company in Burleson Texas that has a similar tour and manufactured process. Oklahoma Marinas. They usually run about $100 a foot. So you’re not saving a tremendous amount of money but it’s a little bit less than stick belt. You pour a you pour your pad and bring him in and then they are just like a trailer there cinch down and then you finish out the siding down at the bottom. And so they look pretty much like a stick built home at the end of the manufacturing process. But we always do is we put in a very realistic looking wood floor but it’s actually on the vinyl. It’s cost effective. Very very durable very forgiving. You can put in the really nice appliances. We do stainless on that. You can put beams in vaulted ceilings. It’s just amazing how nice you can make these units and yet like I said they. They literally go down the road to come to you. So it’s a very convenient process because you’re not hassling with a contractor or anything else. You basically go to the plant pick out all the features you want. They do all the you know we use all rub Brawns they do all the hardware that features that you could want so very very good way to go we’re excited because we’re at our other Oklahoma Marina Keystone harbor we’re getting ready to add floating cottages. Oklahoma Marinas. These are ideal for floating cottages we work with our our dock manufacturer Americorp out of Nob Hill Missouri and they can design a platform for these manufactured homes and so what’s really need is you can bring them in. You already can you just crane them off the truck set them down and attach them to the floating docks and then move those docks around just like you would a boat and put them in position. So we’re excited at Keystone harbor and has some thoughts also to add these are other Oklahoma marina there at cross timbers because floating cottages are very very much in demand. There’s literally only one other like that we’re aware of in Oklahoma that have floating cottages. That’s like Murray down in the southern part of the state and they stay booked two years out. So it’s something that we’re very interested so learning about manufactured homes and those being our first cottages at Sky Harbor was a very very interesting lesson and also was something that the investors that work with us could own one very cost effectively. Again use it no more than 120 days a year. And then they get there they get the majority of the rental income when not in use. I believe that our booking operation marketing and booking is in maintaining it cleaning it all is about a 25 percent of the profit so most of the investors that have units at Sky 2 like cottages sky take like. Earn somewhere around 15 to 20 percent annual return. And if they use that very excessively obviously the return goes down. But if they use that just a relatively ordinary amount of time or try and use that on Mondays Tuesdays and Wednesdays because the heavier traffic is Thursdays through Sunday then they’re going to see a really nice return on their investment. There’s only been one cottage that has been built and sold or resold and that investor had something like 85000 in the property and it sold for a hundred and ninety five thousand dollars so pretty amazing investment results that you can you can get from having investor owned cottage on one of the core likes. So I’ll talk more about that in the next segment.¬†Oklahoma Marinas