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Who wants to go in on buying Willow Springs International Raceway?
- Thread starter Map8
- Start date
- Joined
- Jun 19, 2002
- Location
- Walnut Creek
- Moto(s)
- Monica Sweetheart!!!!
- Name
- Berto
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- Barf Racer
They won't give a price before filling out a questionnaire on use/ needs/ etc. It's a rope-a-dope on pricing. I don't think they know what to price it at. My broker's been working on it a few days and still can't get an answer of even an estimate, for his own curiosity. Certainly won't sell on a cap rate...On a $/acre, it's likely in the $6-8M range, IME. Facilities are in need of update/ repair and the use(s) are limited this far. Plus, it's not like there's not plenty of land in the area....
ThumperX
Slayer of Deer
- Joined
- Aug 26, 2007
- Location
- Off Elk Mtn
- Moto(s)
- Different strokes
Big Bore and little bore Thumpers and a Twingle
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- AMA #: 2817058
Berto, team up with Emelia? She's no dummy and I imagine her behind the scenes behavior is rational and measured.
- Joined
- Jun 19, 2002
- Location
- Walnut Creek
- Moto(s)
- Monica Sweetheart!!!!
- Name
- Berto
- BARF perks
- Barf Racer
Be an interesting teaming, thanks G. I'll send her a note, but I'm not sure there's going to be reality to the pricing for a bit, until no one bites. Also, knowing what I do about the facility and what's needed...I suspect they want to take the gain out of the deal for the buyer anyway. When I read about the "opportunities" with the property, all I could think is "solar and wind farm that fucker and use the depreciation and tax breaks then figure it out". The problem: I don't know enough and wind and solar....but do about tracks, costs, and participants. They all are a hassle! I"m sure she's got some good advice around her...I hope.
- Joined
- Jun 19, 2002
- Location
- Walnut Creek
- Moto(s)
- Monica Sweetheart!!!!
- Name
- Berto
- BARF perks
- Barf Racer
Well, another update: Talked to a guy in the collector world through selling a bike to his client. They're putting funds together to turn willow into a driving club type thing. That probably includes bikes and lots of $$. I wish them well, but there's a lot of DD to do IMO. I still suspect a selling price in the 7 figures and not 8 figures. WS's monetization won't make sense so funds will need to come from wealthy individuals who aren't expecting any sort of ROI in the short or medium run.