Regardless, it translates into $6,230 an acre. Ranch land for grazing cows fetch more than that per acre.
Maybe it does. But remember they also bought some maintenance headaches and a serious payroll. I'm not sure yet they got a great deal.
“Regardless, it translates into $6,230 an acre. Ranch land for grazing cows fetch more than that per acre.”
Ain’t life cruel? Talk about being in the right place at the right time. But again, what is is going to cost to rehab the place from run-down grazing land back into a classy place to cuss that stupid white ball.
Back in my 20s, right after I got out of the USAF, I might have been involved in an effort to put together that kind of scratch for such an investment.
I worked for a guy who played fast and loose with (mostly other people’s) money. He almost put together $800K to buy a bankrupt brothel in Vegas. His family’s objections and refusal to help him run it are what stopped him. And at that stage in my life, a brothel was the last place I needed to be “managing”. I would have -— hmmm, how to say it -— ahhh -— I would have “plowed all the profits back into the business.” Yeah, that’s what I’ll call it.
I’m just glad I got away from his employ before the IRS came-a-calling. He learned the hard way that the gubmint doesn’t approve of tax fraud.