plans for the long weekend?

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Charliesheen
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Re: plans for the long weekend?

#101

Post by Charliesheen »

Reservoir Dog wrote: Mon May 31, 2021 9:15 pm
Charliesheen wrote: Mon May 31, 2021 7:33 pm Image

From Lake Michigan to Clear Lake, California.
Is anyone else wondering why that ceiling fan is even there?
Given its clear lake it’s to make the flies feel unwelcome. Or to keep the tweakers from overheating.
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Re: plans for the long weekend?

#102

Post by CentralTexasCrude »

Animal wrote: Mon May 31, 2021 9:25 pm
Reservoir Dog wrote: Mon May 31, 2021 9:15 pm
Charliesheen wrote: Mon May 31, 2021 7:33 pm Image

From Lake Michigan to Clear Lake, California.
Is anyone else wondering why that ceiling fan is even there?
since most people know how ceiling fans work, i doubt it.
:D
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Re: plans for the long weekend?

#103

Post by pork »

there are more tweakers in clear lake than fish these days.
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Re: plans for the long weekend?

#104

Post by megman »

Charliesheen wrote: Mon May 31, 2021 7:33 pm Image

From Lake Michigan to Clear Lake, California.
That's a long ass boat ride....
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Re: plans for the long weekend?

#105

Post by CaptQuint »

megman wrote: Tue Jun 01, 2021 12:07 am
Charliesheen wrote: Mon May 31, 2021 7:33 pm Image

From Lake Michigan to Clear Lake, California.
That's a long ass boat ride....
The Rockies must have been tough to cross
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Re: plans for the long weekend?

#106

Post by pork »

are they ever going to open konacti back up? i have seen some great bands play there over the years.
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Re: plans for the long weekend?

#107

Post by B-Tender »

I flew up to Boise for three nights. I stayed downtown and it was a pretty cool area. Decent restaurant and bar scene. BSU is nearby and provided plenty of talent to look at.
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Re: plans for the long weekend?

#108

Post by Charliesheen »

pork wrote: Tue Jun 01, 2021 12:10 am are they ever going to open konacti back up? i have seen some great bands play there over the years.
Marina bait shop and small restaurant are open. Bar will be open by July 4.

No shows yet.

I saw Steely Dan there about 15 years ago. Off the hook venue.
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Re: plans for the long weekend?

#109

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Bump
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Re: plans for the long weekend?

#110

Post by megman »

Bump
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Re: plans for the long weekend?

#111

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Bump
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Re: plans for the long weekend?

#112

Post by pork »

Charliesheen wrote: Tue Jun 01, 2021 2:13 am
pork wrote: Tue Jun 01, 2021 12:10 am are they ever going to open konacti back up? i have seen some great bands play there over the years.
Marina bait shop and small restaurant are open. Bar will be open by July 4.

No shows yet.

I saw Steely Dan there about 15 years ago. Off the hook venue.
i invested in a private golf course that was being built there. then the crash hit and it fell apart. they had the course basically cut in and all the dirt moved. would have been a great place.
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Re: plans for the long weekend?

#113

Post by Charliesheen »

Why not just buy Buckingham ? It’s on the ropes too, I think.
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Re: plans for the long weekend?

#114

Post by pork »

this was in the mid 2000's. let just say the builder made the money and disappeared
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Re: plans for the long weekend?

#115

Post by Animal »

pork wrote: Tue Jun 01, 2021 2:47 pm this was in the mid 2000's. let just say the builder made the money and disappeared
there should be some kind of law to require transparency to show how much skin a developer has in the game. i bet the % of developments that go bust would be a direct correlation to that.
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Re: plans for the long weekend?

#116

Post by Burn1dwn »

Animal wrote: Tue Jun 01, 2021 3:20 pm
pork wrote: Tue Jun 01, 2021 2:47 pm this was in the mid 2000's. let just say the builder made the money and disappeared
there should be some kind of law to require transparency to show how much skin a developer has in the game. i bet the % of developments that go bust would be a direct correlation to that.
I'm thinking this was during the time loans were falling put of the sky, so nobody had skin in anything. Probably.

Developers probably got all the financing on the project they could and defaulted. Buyers with deposits got screwed in a bunch of "under construction projects" once the faucet was shut off. They start selling deposits on parcels/docks/lots the minute the escrow closes and even before planning is finaled. Way before most construction started.

What is the real story pork?
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Re: plans for the long weekend?

#117

Post by Burn1dwn »

That was my CTC/WTC impression. In case you missed it.
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Re: plans for the long weekend?

#118

Post by Animal »

Burn1dwn wrote: Tue Jun 01, 2021 3:40 pm
Animal wrote: Tue Jun 01, 2021 3:20 pm
pork wrote: Tue Jun 01, 2021 2:47 pm this was in the mid 2000's. let just say the builder made the money and disappeared
there should be some kind of law to require transparency to show how much skin a developer has in the game. i bet the % of developments that go bust would be a direct correlation to that.
I'm thinking this was during the time loans were falling put of the sky, so nobody had skin in anything. Probably.

Developers probably got all the financing on the project they could and defaulted. Buyers with deposits got screwed in a bunch of "under construction projects" once the faucet was shut off. They start selling deposits on parcels/docks/lots the minute the escrow closes and even before planning is finaled. Way before most construction started.

What is the real story pork?
It sounds to me that Pork's deal was purely as an investor. The developer puts up zero money and gets investors to seed the project based on his drawings and sales pitch and his charts showing the ROR. For these scam jobs the ROR is usually around 30%. Then the developer takes the cash he raises and goes to the bank and uses the cash and the asset value of the land to finance the project. The developer takes a percentage of the deal at no charge and divies up percentages to the investors based on how much they put in cash. The developer usually charges the "project" a huge up front fee to manage the job. Then, if it goes tits up he's already gotten a huge dose of cash, the bank has the land as collateral and the investors all just shake their heads and blame the economy.
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Re: plans for the long weekend?

#119

Post by pork »

Burn1dwn wrote: Tue Jun 01, 2021 3:40 pm
Animal wrote: Tue Jun 01, 2021 3:20 pm
pork wrote: Tue Jun 01, 2021 2:47 pm this was in the mid 2000's. let just say the builder made the money and disappeared
there should be some kind of law to require transparency to show how much skin a developer has in the game. i bet the % of developments that go bust would be a direct correlation to that.
I'm thinking this was during the time loans were falling put of the sky, so nobody had skin in anything. Probably.

Developers probably got all the financing on the project they could and defaulted. Buyers with deposits got screwed in a bunch of "under construction projects" once the faucet was shut off. They start selling deposits on parcels/docks/lots the minute the escrow closes and even before planning is finaled. Way before most construction started.

What is the real story pork?
its a long story but the short version is that it was a private money deal. the developer had money in the deal but it was leveraged off of other projects and the seller of the land had a non arms length deal with the developer on it so it was basically a small cash investment for the developer. once he got enough work done he hit a few stages of capital draws and split. my guess is that he drew 4 million or so and let the project go into foreclosure and no one wanted a golf course after 2008. i bet its still just sitting and some one is stuck with it or its now a pot farm
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Re: plans for the long weekend?

#120

Post by Animal »

pork wrote: Tue Jun 01, 2021 4:01 pm
Burn1dwn wrote: Tue Jun 01, 2021 3:40 pm
Animal wrote: Tue Jun 01, 2021 3:20 pm
pork wrote: Tue Jun 01, 2021 2:47 pm this was in the mid 2000's. let just say the builder made the money and disappeared
there should be some kind of law to require transparency to show how much skin a developer has in the game. i bet the % of developments that go bust would be a direct correlation to that.
I'm thinking this was during the time loans were falling put of the sky, so nobody had skin in anything. Probably.

Developers probably got all the financing on the project they could and defaulted. Buyers with deposits got screwed in a bunch of "under construction projects" once the faucet was shut off. They start selling deposits on parcels/docks/lots the minute the escrow closes and even before planning is finaled. Way before most construction started.

What is the real story pork?
its a long story but the short version is that it was a private money deal. the developer had money in the deal but it was leveraged off of other projects and the seller of the land had a non arms length deal with the developer on it so it was basically a small cash investment for the developer. once he got enough work done he hit a few stages of capital draws and split. my guess is that he drew 4 million or so and let the project go into foreclosure and no one wanted a golf course after 2008. i bet its still just sitting and some one is stuck with it or its now a pot farm
i think that the guy that usually gets burned the worst on those is the one that owns the land. Usually that guy has 2 choices. Either sell the land at $10,000 an acre to the developer and walk away, or the developer will offer him a part of the deal which can double his money. The land owner puts the land up as his "investment" to the LLC and then gets a share that on paper looks like double the price of the land in the first place. However, no cash traded hands. Then the developer can use the land value to collateralize a cash loan from the bank.

when the thing blows up its the landowner that gets fucked. at least that's what i see most of the time.
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Re: plans for the long weekend?

#121

Post by pork »

the land owner gets boned for sure but the angel investors like myself get nothing at least the land owner still has the land
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Re: plans for the long weekend?

#122

Post by Animal »

pork wrote: Tue Jun 01, 2021 4:25 pm the land owner gets boned for sure but the angel investors like myself get nothing at least the land owner still has the land
but that's the thing. usually the bank ends up with the land.

there is a developer that i work with quite a lot and he is always trying to get me to invest. over the last 30 years i think i have done 2 deals. one i never got a dime and the other i barely got break even. There is always some reason for it. But i learened over the years that i make a ton on the constructin work, so that's all i want anymore. The rest of it is just hocus pocus work that is completely controlled by the developer. The people make however much money he allows them to make, and that's if the deal turns out good.
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Re: plans for the long weekend?

#123

Post by Charliesheen »

I’ll bet somebody planted it. Lake County is in the midst of a wine grape land rush.

Check out the size of this bastard:

Image

Doesn’t do it justice. That’s a Central Valley sized vineyard typically used for table grapes or bulk wine.
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Re: plans for the long weekend?

#124

Post by pork »

Animal wrote: Tue Jun 01, 2021 4:44 pm
pork wrote: Tue Jun 01, 2021 4:25 pm the land owner gets boned for sure but the angel investors like myself get nothing at least the land owner still has the land
but that's the thing. usually the bank ends up with the land.

there is a developer that i work with quite a lot and he is always trying to get me to invest. over the last 30 years i think i have done 2 deals. one i never got a dime and the other i barely got break even. There is always some reason for it. But i learened over the years that i make a ton on the constructin work, so that's all i want anymore. The rest of it is just hocus pocus work that is completely controlled by the developer. The people make however much money he allows them to make, and that's if the deal turns out good.
i havent done one since. the biggest mistake of my life was taking on a construction project in 2000. it took 5 years and a bunch of lawsuits and it cost me about everything. instead of making millions i lost multiple millions just on the market move not including lawyers fees and carrying costs. its the single worst thing i have ever done in my life and i have had some bad ones./
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Re: plans for the long weekend?

#125

Post by pork »

Charliesheen wrote: Tue Jun 01, 2021 6:42 pm I’ll bet somebody planted it. Lake County is in the midst of a wine grape land rush.

Check out the size of this bastard:

Image

Doesn’t do it justice. That’s a Central Valley sized vineyard typically used for table grapes or bulk wine.
no shit. i haven't been there in years. makes sense
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