Genius entrepreneur turned broken Ohio marina into $7,000,000 resort of floating homes

This guy saw an opportunity and turned a forgotten marina in Ohio into a resort worth millions.

Back when he bought it, the marina was generating no more than five figures a year in revenue.

Now, it is generating seven figures.

And, more importantly, the marina is now worth millions.

This could potentially be more than a one-off

There are countless places in the world – not just in the US – where small marinas have a lot of potential.

People are naturally drawn to the water, and anything on water – including a raft – can be marketed as a boat.

If it floats and you can sit on it, people will see it through the lens of boating culture.

No one would think of a beat-up car as a particularly glamorous vehicle, but for some reason, even a raft is perceived as cool.

This guy in Ohio was clearly thinking along those lines when he decided to turn a semi-abandoned marina into a $7 million resort.

And this is how he did it.

This is how you turn a decrepit marina into a resort

A 29-year-old entrepreneur turned a dilapidated marina in a place called Sandusky, Ohio, into something called Soul Stay.

When he bought it, ‘Soul Stay’ was a $1 million marina with a lot of issues.

At the time, the decrepit marina was only generating around $20,000 in annual revenue, but Joe Lisa saw an opportunity when he realized as many as 13 million tourists visited the area each year.

He then spent around $1 million to buy the marina, and then an additional $300,000 on various things that needed fixing.

He built the first 10 units for around $10,000 each and generated $370,000 in revenue in the first year.

Clearly, the plan is working.

At the time of writing, the marina is valued at around $7 million.

So it was clearly a good idea, and obviously well executed.