| Title: | Welcome to the Golf Notes Conference! |
| Notice: | FOR SALE notes in Note 69 please! Intros in note 863 or 61. |
| Moderator: | FUNYET::ANDERSON |
| Created: | Tue Feb 15 1994 |
| Last Modified: | Fri Jun 06 1997 |
| Last Successful Update: | Fri Jun 06 1997 |
| Number of topics: | 2129 |
| Total number of notes: | 21499 |
Can anyone out there explain what an "equity club membership" or
a "private equity country club community" is?
| T.R | Title | User | Personal Name | Date | Lines |
|---|---|---|---|---|---|
| 571.1 | A PIECE OF THE ACTION | DARTS::DIAZ | CMG/CDG/SAMG | Fri Apr 07 1989 15:29 | 11 |
Re:< Note 571.0 by RATTLE::TLAPOINTE >
I am not that familiar with US clubs, but in Mexico 99% of clubs are
private and to get into one you have to buy a piece of it :^). That
is you buy a share of the club. So the club only issues as many
shares as members (partners?) wants. The advantage of this is that
you get your money back and usually make a profit if you decide to
leave the club and sell the share. The disadvantage is that price is
usually high (very high!).
Tavo
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| 571.2 | Part of the Rock? | RATTLE::TLAPOINTE | Mon Apr 10 1989 15:59 | 6 | |
Other than "owning a piece of the rock" are there any other benifits?
Ie. Do you have any say on what goes on? Are you a voting member
of the corporation?
I've noticed that the cost may be high.... does anyone have any
figures for any "known" developments.
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| 571.3 | Yup, it's expensive | CURIE::TDAVIS | Tue Apr 11 1989 14:10 | 7 | |
< I've noticed that the cost may be high.... does anyone have any < figures for any "known" developments. The oft-talked-about golf course trying to start up in Marlboro will be an equity membership club. I've seen the prospectus. 300+ members; $50,000 to buy in. I'd call that a high cost. Particularly for yet another Cornish/Silve course. | |||||
| 571.4 | Late Equity Club answer | CSOA1::ECK | Mon Dec 23 1991 16:06 | 18 | |
I am a new user of NOTES and an avid golfer. While browsing through
this conference, I noted the original question which goes back to 1989
or so. "Equity Golf Club" - what does it mean??? Club Corporation of
America, out of either Houston TX or Dallas, TX owns or manages a
number of Equity Clubs. That means when you join you pay an initiation
fee that you get back in the event you ever left the club. In CCA's
case it is typically 1/2 of the then asking price for new members. In
effect you have a "market" for memberships. Most country clubs are
private.... you pay $20,000 or so and if you leave for whatever reason
your $20,000 is gone.
So in CCA's case lets say you join in 1991 for $5,000. By 1998 lets
say the asking price is $30,000 and you decide to sell because you got
transferred. CCA will sell your membership to someone else and you get
to keep $15,000 of it. Not a bad idea.
Being a new user of notes I'm not sure if anyone is still watching this
note or if anyone cares. AnywaY, I'm glad I found "Golf"
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| 571.5 | Equity if you can get it!! | DPDMAI::VENEZIO | Does dry wine come from raisins | Mon Dec 23 1991 18:52 | 11 |
I am a member of a CCA course here in Dallas. The deal here is you can
sell your own share for whatever you'd like or the club will buy it and
return a percentage. It's a no lose deal unless the club goes
belly-up and your share isn't worth squat.
I've belonged to a number of clubs over the years and this is only the
second "equity" deal I've seen. I have left plenty behind in initiation
fees that were not returnable.
Regards,
Ken
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