Enough with negative thoughts - Which one of you won Talisman Ski Resort?

[Dave2]

So who do I pay my lift ticket money too?   

On the winter I last skiied in this area got myself a wife

Comments?

 

[paris_wendy]

The article I read said there weren't any bids.

Old Smokey went for $200,502 and Shivlock went for $211,200.

[Frank]

So who do I pay my lift ticket money too?   

On the winter I last skiied in this area got myself a wife

Comments?

 

Surprisingly, only eleven bids on Old Smokey.  Twelve on Shivlock. 

The town will now have to decide if it wants to run a ski hill.   

[Dave2]

Surprisingly, only eleven bids on Old Smokey.  Twelve on Shivlock. 

The town will now have to decide if it wants to run a ski hill.   

This has all the earmarks of a sophisticated buyer strategy.

Scare off all other bidders, convince the township to vest it and then purchase it for a dollar. (no minimums once the property has vested.)

Maybe why that explains why we have not heard from PFM for a while.  He is busy drawing up the plans for a new ski resort.   

[tyerant]

Humm...

Well, If I was hired to provide advise to the Municipality, I would tell them not to run a ski hill for sure.  However, I would encourage them to find someone to lease the land and run a business from it... Municipalities are not well suited to run a business like this for a multitude of reasons...However they should not loose site of the value of the history of this property and it's future potential!

Doesn't 2 Ontario Ministries have interest in these properties?  Has anyone looked into this?

But what do I know... LOL ...

[Frank]

Humm...

Well, If I was hired to provide advise to the Municipality, I would tell them not to run a ski hill for sure.  However, I would encourage them to find someone to lease the land and run a business from it... Municipalities are not well suited to run a business like this for a multitude of reasons...However they should not loose site of the value of the history of this property and it's future potential!

If I was advising them, I would recommend immediate vesting of the property.

With the amount of debt against it in the form of liens and mortgages nothing will happen with that property for the forseeable future, and the ultimate tax liability will do nothing but grow.  The property will deteriorate further and become nothing but an eyesore.  Already developed areas around the property will diminish in value as the benefit of living next to a ski hill will have disappeared. 

If the Municipality takes it, the upper tier and school share will come back to them in the way of section 486 write-offs.  Their net cost will be in the neighbourhood of a million bucks (the towns share of the taxes outstanding, plus accumulated interest).   This property would almost qualify as a brownfield rehab site.  It is already zoned as Recreational property, and the Municipality could easily make a deal with an entrepreneur to upgrade the property, and run the ski hill and banquet facility on their behalf (I agree that it would not be a good idea for the Municipality to run it...just look at what happened to Kings Forest and Chedoke in Hamilton).  As it would be a Municipally owned recreational facility there would be no further taxes, and the facility could make a tidy profit with a good portion of it coming back to the town.   Residents of course would be entitled to season passes at a reduced rate, and the net result is an enticement to people to move to town or at least purchase one of the chalets for rental purposes (I got Dave's attention now), a great source of economical development.

Have I made my views perfectly clear?

[Dave2]

However they should not loose site of the value of the history of this property and it's future potential!

If I was advising them, I would recommend immediate vesting of the property.

The net result is an enticement to people to move to town or at least purchase one of the chalets for rental purposes (I got Dave's attention now), a great source of economical development.

Have I made my views perfectly clear?

Frank:

You forgot the last key point of what's in it for you.  I suggest you apply to be the town's consultant for big bucks of course and offer to get paid in distressed property.  You can charge skiiers per run. 

In a more serious vein some of the surrounding residences might make an interesting real estate play as you suggested. Might be some interesting prices this summer.  Might make an interesting retirement play.

[netpred]

When I read posts like this I am reminded of how fortunate we are to have some real experts here giving out free information. I suspect that there is nowhere in the province that you can find the expertise on taxsales that is found here.

Having said that, Frank, any interest on a friendly wager (perhaps a beer or two) as to whether the municipality will vest within 12 months? I say no - my bet is that the municipality is too short-sighted and afraid of liability.

Humm...

Well, If I was hired to provide advise to the Municipality, I would tell them not to run a ski hill for sure.  However, I would encourage them to find someone to lease the land and run a business from it... Municipalities are not well suited to run a business like this for a multitude of reasons...However they should not loose site of the value of the history of this property and it's future potential!

If I was advising them, I would recommend immediate vesting of the property.

With the amount of debt against it in the form of liens and mortgages nothing will happen with that property for the forseeable future, and the ultimate tax liability will do nothing but grow.  The property will deteriorate further and become nothing but an eyesore.  Already developed areas around the property will diminish in value as the benefit of living next to a ski hill will have disappeared. 

If the Municipality takes it, the upper tier and school share will come back to them in the way of section 486 write-offs.  Their net cost will be in the neighbourhood of a million bucks (the towns share of the taxes outstanding, plus accumulated interest).   This property would almost qualify as a brownfield rehab site.  It is already zoned as Recreational property, and the Municipality could easily make a deal with an entrepreneur to upgrade the property, and run the ski hill and banquet facility on their behalf (I agree that it would not be a good idea for the Municipality to run it...just look at what happened to Kings Forest and Chedoke in Hamilton).  As it would be a Municipally owned recreational facility there would be no further taxes, and the facility could make a tidy profit with a good portion of it coming back to the town.   Residents of course would be entitled to season passes at a reduced rate, and the net result is an enticement to people to move to town or at least purchase one of the chalets for rental purposes (I got Dave's attention now), a great source of economical development.

Have I made my views perfectly clear?

[Frank]

Frank, any interest on a friendly wager (perhaps a beer or two) as to whether the municipality will vest within 12 months? I say no - my bet is that the municipality is too short-sighted and afraid of liability.

Yer on.   Guess it's time for me to sweet talk some of the Councillors...there's a beer or two at stake here.

And Dave, you are right, the neighbours are now in panic mode and you will see some interesting deals come up real soon...hedge your bets and if the slopes are reactivated you will make some headway. 

[netpred]

Frank:

Welcome to Dave's World.

Would somebody please pm me on March 7, 2014 and remind me to collect my beer. 

[Dave2]

And Dave, you are right, the neighbours are now in panic mode and you will see some interesting deals come up real soon...hedge your bets and if the slopes are reactivated you will make some headway. 

Frank:

You have been good to the board so I for one am going to let you play this one.  Have an interesting suggestion how you can make money ski hill reopened or not. 

Send it to you to you by pm and its up to you whether you take advantage of the real estate panic or not.  The interesting situation is you play it by a regular real estate offer of purchase and sale rules not tax sale rules. 

Good luck:

Dave2

[Dave2]

Frank:

Welcome to Dave's World.

Would somebody please pm me on March 7, 2014 and remind me to collect my beer.  

Frank:

Glad you are thinking of healthy living.  Here is a listing of some of the health benefits of beer.

http://health.yahoo.net/experts/dayinhealth/10-surprising-health-benefits-beer

Just a word of warning about betting with Netpred he is amazingly successful with his beer bets.  I understand he started betting a couple of decades ago and look what it did to the number of US breweries. 

[tyerant]

Humm...

Well, If I was hired to provide advise to the Municipality, I would tell them not to run a ski hill for sure.  However, I would encourage them to find someone to lease the land and run a business from it... Municipalities are not well suited to run a business like this for a multitude of reasons...However they should not loose site of the value of the history of this property and it's future potential!

If I was advising them, I would recommend immediate vesting of the property.

With the amount of debt against it in the form of liens and mortgages nothing will happen with that property for the forseeable future, and the ultimate tax liability will do nothing but grow.  The property will deteriorate further and become nothing but an eyesore.  Already developed areas around the property will diminish in value as the benefit of living next to a ski hill will have disappeared. 

If the Municipality takes it, the upper tier and school share will come back to them in the way of section 486 write-offs.  Their net cost will be in the neighbourhood of a million bucks (the towns share of the taxes outstanding, plus accumulated interest).   This property would almost qualify as a brownfield rehab site.  It is already zoned as Recreational property, and the Municipality could easily make a deal with an entrepreneur to upgrade the property, and run the ski hill and banquet facility on their behalf (I agree that it would not be a good idea for the Municipality to run it...just look at what happened to Kings Forest and Chedoke in Hamilton).  As it would be a Municipally owned recreational facility there would be no further taxes, and the facility could make a tidy profit with a good portion of it coming back to the town.   Residents of course would be entitled to season passes at a reduced rate, and the net result is an enticement to people to move to town or at least purchase one of the chalets for rental purposes (I got Dave's attention now), a great source of economical development.

Have I made my views perfectly clear?

Well put and better communicated... I'd hire you over me for the job in a heart beat!   

Point is, it would be a shame to see this property given away. (I am guessing this is why my karma took a hit) (still can't figure out how to give or take karma???)

Yes, I know this site is all about obtaining property below value.  This is why I came here...  I just hate to see instances where it is clear that tax payers would not be well served.

In many cases, Tax sales are a win win...  And in may cases, the $1 sales are a win win too!  My personal opinion is that in this case, a $1 sale would not be in the best interest of the Municipality, the tax payers, or the surrounding property owners. (unless you are the one who gets it for a dollar)

Go ahead kill my Karma :-) LOL
Remind me to post a question as to how to give and take karma will you..
Thanks

[pjdd]

Tyerant; to answer your question (still can't figure out how to give or take karma?) well it is pretty easy. First you have to log in and you will see (applaud) and (smile) to the left of the post. Applaud (click) if you like what you hear that is positive karma; smile (click) if you disagree that's negative karma which everyone dreads. Unfortunately there are lots of smiles out there... case in point I posted a comment months ago and I am still getting negative karma...that is why I and many others have not posted lately. Don't worry I will not kill your karma

[tyerant]

Tyerant; to answer your question (still can't figure out how to give or take karma?) well it is pretty easy. First you have to log in and you will see (applaud) and (smile) to the left of the post. Applaud (click) if you like what you hear that is positive karma; smile (click) if you disagree that's negative karma which everyone dreads. Unfortunately there are lots of smiles out there... case in point I posted a comment months ago and I am still getting negative karma...that is why I and many others have not posted lately. Don't worry I will not kill your karma

Well logged in an used ie and firefox an no such luck. I have to suppose that I have had these privileges revoked?