Guno צְבִי (08-22-2019)
Trump golf club members who quit over his presidency say they're still waiting to get deposits back
Source: The Hill
BY CHRIS MILLS RODRIGO - 08/22/19 03:16 PM EDT
Golfers who ended their memberships at Trump National Doral after President Trump's election have yet to get their deposits back, the Miami Herald reported Thursday.
Two former members told the outlet that they were no longer willing to write Trump checks after his election. Another quit in December after the Miami club became too political.
All three of those former members are now on a waiting list to get their deposits back — ranging from $10,500 to $19,000 — with 265 other people.
In order to move up the list by one spot, four new golf members need to join Doral, according to the membership terms.
Read more: https://thehill.com/blogs/blog-brief...ncy-say-theyre
Guno צְבִי (08-22-2019)
Guno צְבִי (08-22-2019)
anonymoose (08-22-2019), TOP (08-23-2019)
Guno צְבִי (08-22-2019), Phantasmal (08-22-2019)
Guno צְבִי (08-22-2019)
Not just contractors...
Buyers still feel burned by Donald Trump after Tampa condo tower failure
Magner put down a deposit, joining dozens of other buyers eager to own part of what Trump called a property "so spectacular that it will redefine both Tampa's skyline and the market's expectations of luxury.''
A decade later, the city's skyline has indeed changed but not because of Trump Tower Tampa. Magner often walks or cycles by the acre and a half site, still weedy and empty.
"I lost $130,000,'' he says. "I didn't know people could take your money and not build the building.''
http://www.tampabay.com/news/busines...UserState=true
Guno צְבִי (08-22-2019), reagansghost (08-22-2019)
This ^ is like a foreign language to them.All three of those former members are now on a waiting list to get their deposits back — ranging from $10,500 to $19,000 — with 265 other people.
In order to move up the list by one spot, four new golf members need to join Doral, according to the membership terms.
Last edited by anonymoose; 08-22-2019 at 05:57 PM.
TOP (08-23-2019), Truth Detector (08-23-2019)
That’s the “risk” of joining a(n) (equity) country club. If membership drops and you want out you will either lose your equity or possibly wait a long time to get it back. Doral is a mess right now and also open to the public. That’s the worst kind of “private” club. It’s not really private. So not surprising there isn’t a lot of interest in joining.
If membership were to pick up it’s possible in theory the ownership wouldn’t pay out equity owed but that would basically kill the club. No one would join.
And what I’m writing isn’t even a defense of Trump. It’s just how these clubs work.
Truth Detector (08-23-2019)
Trump is an honorable man,he will take responsibility and pay them back.
Truth Detector (08-23-2019)
Not only that but I'd never buy a house on a golf course for residential property. English Turn Golf and Country Club was the up and coming place to own a house and be a member in the late '80's. The New Orleans PGA tournament was there. Now there's no initiation fee and membership is $960/yr. with unlimited cart use, seemingly a steal but I played the course about 5 yrs. ago and it's basically become a muni course. What do you think happened to those real estate values?
Truth Detector (08-23-2019)
New communities built around golf courses are a different animal, especially in Florida. WSJ recently ran a big article on the troubles some have run into.
But Doral is just a straight golf course to my knowledge. I mean I know a few old timers who joined what are today very prestigious clubs at $20K and membership today is at $250K. They’ve made money.
But people don’t join clubs to make money. The club i belong to is an equity club. One of the risks is that it becomes another Doral and when you want to leave there aren’t people wanting to join.
so here's wacko, running down yet another rabbit hole of his own creation
from the link: "If membership drops and you want out you will either lose your equity or possibly wait a long time to get it back
All three of those former members are now on a waiting list to get their deposits back — ranging from $10,500 to $19,000 — with 265 other people.
In order to move up the list by one spot, four new golf members need to join Doral, according to the membership terms.
“I have no faith,” a former member of 18 years who left after the 2016 election told the Herald. “We’ll never see the money. That’s why I don’t bother worrying about it.”
The Trump Organization, which runs the golf course and resort, did not immediately respond to a request for comment from The Hill."
so quite obviously they do have some equity, and are on a long waiting list to get it
are you really this fuckin stupid?
and these wealthy claimants are actually as dumb as you and don't realize they have no equity?
Interesting! Very similar to the story the WSJ put out:
Golf-Home Owners Find Themselves in a Hole
Lawsuits pile up and fairways fall into disrepair as younger Americans shun golf, leaving behind homeowners who paid a premium for life on the links
https://www.wsj.com/articles/golf-ho...le-11547135191
As far as Doral I don't think it has a residential component. It's just a club where too many people want to get out and not enough want to join. (clearly too difficult a concept for some ITT to understand)
There's no way of knowing if they have equity or not without first reading the contract the members enter into. If nobody's suing to get their "deposits" back, common sense tells me they don't have a legal leg to stand on.
I know for a fact no one from the country club I cited got their "deposits" back. It's called a bad investment.
I've made a few of those.
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