They are playing in the playoffs and we are making idiots out of ourselves. This may be some of the most embarrassing stuff I have seen on our behalf, but I am sure we take that as a challenge to set our bar lower.
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On the outside looking in it made sense. 3/29/17 business sold 325,000, 4/8/17 committed. When people on the board dug deeper it ended. This was groupthink lol. The bigger question now is why did the City of Florence spend so much for a lousy piece of land?They are playing in the playoffs and we are making idiots out of ourselves. This may be some of the most embarrassing stuff I have seen on our behalf, but I am sure we take that as a challenge to set our bar lower.
On the outside looking in it made sense. When people with knowledge of the real estate business started digging deeper it ended. This was groupthink lol. The bigger question now is why did the City of Florence spend so much for a lousy piece of land?
FWIW Newspring does have a campus in Florence.Newspring doesn't have a campus in Florence. The money has to come from somewhere.
It was klempson boosters. That is the rumor around Florence. By the way, i am from Florence.
So we've got a Clemsux fan who read Business Appraisals For Dummies who believes that an appraisal of a car washing business in Florence, SC could credibly be valued at 10x EBITDA. Wow.
FWIW Newspring does have a campus in Florence.
First, your fanbase talked about The Rock Hill bagman for years, so spare us the lectures. Second, the best predictor for future behavior is past behavior. Given Clemson's history, is it really any shock some of our fans think your boosters are gaming the system?Just a basic concept used in appraisals to say the premise of this discussion might be flawed, not trying to complete a comprehensive analysis of the value of this business / property.
You guys work so hard to create a story to explain Clemson’s success because you can’t grasp the more subtle congruence of many factors such as coaching, facilities, player development, culture, etc, etc. All you could think to do is cheat.
But keep on with your juvenile name calling and outlandish conspiracy theories. It’s entertaining up to the point where I think some of you are mentally unstable.
Hilarious. Go to google street view and get back to me about the inevitability of that area being gentrified.It's called gentrification. What will happen is investors will buy a lot of the land and businesses in the area to raise the property value on paper, then "donate" the property and land to a nonprofit run by the local government to keep the taxes at a minimum, then they will start building new, shiny buildings and raise the actual value while still having a relatively low tax rate. It's what's happening in Atlanta, DC, Detroit, and several other cities. This brings in the middle class and drives out the poor, thus making a killing on what is now considered prime real estate. But I'm sure this is happening all over the country to get Clemson recruits.
For the record, here's a letter to the editor days later about the gentrification of Florence:
http://www.scnow.com/opinion/letters/article_0544660a-18b8-11e7-9b1f-a33a6cebf95f.html
Well, it’s not like it’s a stretch to think Clemson is capable of cheating.Just a basic concept used in appraisals to say the premise of this discussion might be flawed, not trying to complete a comprehensive analysis of the value of this business / property.
You guys work so hard to create a story to explain Clemson’s success because you can’t grasp the more subtle congruence of many factors such as coaching, facilities, player development, culture, etc, etc. All you could think to do is cheat.
But keep on with your juvenile name calling and outlandish conspiracy theories. It’s entertaining up to the point where I think some of you are mentally unstable.
Hey, Korn! Get on this. People are doing your work for you here.It says it was sold on 3/29/17 also. For 325,000. That would have been right before he committed.
C'mon now we have 2 &1/2 days left to top this !Could be the most embarrassing thread of 2017. Wow.
Recruit Dad had land that sold for 10x market value one week before commitment. Researched it and found it was nothing. What is embarrassing about that?Could be the most embarrassing thread of 2017. Wow.
They're everywhere. The Walmart of churches. Anyway, in that case I have no idea how or why a city that has a perfectly good Newspring would get involved in this. Does Rock Hill have one? We need one there.
Is this like a franchise thing? Kneece SC has openings
You don't think it's a little odd that it XT is the one flashing the $$$ and getting the new rides then I have a bridge I want to sell you. Guilty as sin and you know it it's been going on for years. How do you buy property from a convict still in jail anyway?Don’t know and don’t care. Maybe he thought gifting an asset that could be a revenue generating asset was helpful for the not-for-profit. That is a fairly common type of asset (revenue producing) to gift.
"Gift" deed.Guy on TOS says it was sold for $5 in August.
With land value of $14,400.
Could just be transferring the property for tax purposes with the whole $5 thing.
The only real issue here would appear to be that Ezra Thomas never owned that piece of property. But even if he did, being in jail prevents somebody from selling property?You don't think it's a little odd that it XT is the one flashing the $$$ and getting the new rides then I have a bridge I want to sell you. Guilty as sin and you know it it's been going on for years. How do you buy property from a convict still in jail anyway?
It's actually cash flow method, and the selling price is generally 3 to 5 times average annual cash flow of the previous 5 years, plus the depreciated value of any physical assets. If the business has not been operating for 2/3 years, you don't consider the cash flow aspect.Geez ... you guys are getting sooo excited with your little sleuthing and its been really entertaining... as usual. But you might want to consider there are several ways to appraise the FMV of a property / business. The net income method would yield a value around $ 325,000 if the business generated net revenue just under $ 30,000 annually. But please continue your delusions.
I'm actually in Florence, too, and caught an exclusive pic of you doing work on this case.I live in Florence, had to run an errand this morning, so I am actually parked on the property right now. Regentrification ? I don't see it happening. It is a corner lot, I could see it going for $40k for a gas station. The location is on the border of downtown and the industrial / rough section.
Sorry I missed out on this investment opportunity for only $325000[/IMG][/IMG]
Non-profits seldom run "for-profit" businesses. It makes no sense for them to to so. They are taxed on the income of the "for-profit" aspect of the business, just like a regular business or if it is a seasonal type business they have UBIT (unrelated business income tax). If they receive property it is to sell, or to use as part of their non-profit purpose.Don’t know and don’t care. Maybe he thought gifting an asset that could be a revenue generating asset was helpful for the not-for-profit. That is a fairly common type of asset (revenue producing) to gift.
Now that's funny. I am waiting on my wife to get done with an appointment, maybe I should head to Newspring next.I'm actually in Florence, too, and caught an exclusive pic of you doing work on this case.
All in good fun, amigo.
The post about XT hand bag and camaro is a good rival for this postCould be the most embarrassing thread of 2017. Wow.
First, your fanbase talked about The Rock Hill bagman for years, so spare us the lectures. Second, the best predictor for future behavior is past behavior. Given Clemson's history, is it really any shock some of our fans think your boosters are gaming the system?
I live in Florence, had to run an errand this morning, so I am actually parked on the property right now. Regentrification ? I don't see it happening. It is a corner lot, I could see it going for $40k for a gas station. The location is on the border of downtown and the industrial / rough section.
That's good.I'm actually in Florence, too, and caught an exclusive pic of you doing work on this case.
All in good fun, amigo.
And they would have gotten away with it if it were not for those pesky Gamecocks.I'm actually in Florence, too, and caught an exclusive pic of you doing work on this case.
All in good fun, amigo.