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Message
Country Club - How does a Stock Membership work?
Posted on 4/14/14 at 10:47 am
Posted on 4/14/14 at 10:47 am
I have been thinking about joining either Oakbourne or Le Triomphe country clubs in Lafayette.
I can't seem to find an answer on google about stock memberships. So can anyone fill me in?
What are the differences between a stock membership (Oakbourne) and a regular fee membership (Le Triomphe)?
Am I able to sell the stock back at Oakbourne if I choose to leave?
Thanks for the info.
I can't seem to find an answer on google about stock memberships. So can anyone fill me in?
What are the differences between a stock membership (Oakbourne) and a regular fee membership (Le Triomphe)?
Am I able to sell the stock back at Oakbourne if I choose to leave?
Thanks for the info.
6
Posted on 4/14/14 at 10:59 am to cajuntiger26
Couldnt find anything huh? not surprised.
Stock means ownership, membership means access. All clubs are different, some are profitable but most arent.
Try the membership route at LT first to get your feet wet, better golf course IMO.
Stock means ownership, membership means access. All clubs are different, some are profitable but most arent.
Try the membership route at LT first to get your feet wet, better golf course IMO.
Posted on 4/14/14 at 11:00 am to cajuntiger26
Most courses only offer 1 option. If it is an equity course you technically own piece of the club. I'm pretty sure Oakboure is equity but they offer junior and associate memberships that don't require a stock. Stock is expensive and it sucks to have to buy but you can sell it back but you'll lose the imitation fee
Posted on 4/14/14 at 11:06 am to cajuntiger26
I just wouldnt buy stock at an established club, not much chicken left on the bone after the initial offering.
Posted on 4/14/14 at 11:08 am to Lakeboy7
Bull shite. Our 5,000 stock right now is appraised at 180,000 if the course sold the property
Posted on 4/14/14 at 11:10 am to cajuntiger26
Stock...you buy it and are on the hook for assessments if needed. Read the fine print. I got semi-burned because of a few assholes on the board of one club.
Typically you sell back to the club and they handle the transaction, again unless the people in charge are assholes its no problem.
Typically you sell back to the club and they handle the transaction, again unless the people in charge are assholes its no problem.
Posted on 4/14/14 at 11:12 am to TequilaMockingBird
Ok, but I doubt you get a quorum to sell, so what do you have?
Posted on 4/14/14 at 11:12 am to Camp Randall
How did The Bluff's work since it's open to the public now? Do they still pay dues? Did the original investors into memberships just get screwed? What about Copper Mill?
Posted on 4/14/14 at 11:12 am to Camp Randall
quote:
Stock...you buy it and are on the hook for assessments if needed. Read the fine print. I got semi-burned because of a few assholes on the board of one club.
Typically you sell back to the club and they handle the transaction, again unless the people in charge are assholes its no problem.
Yep if your club is in debt only stockholders are responsible while jr members don't have to pay any extra
Posted on 4/14/14 at 11:13 am to TequilaMockingBird
Gravity....... How does that work?
Posted on 4/14/14 at 11:19 am to Broke
quote:
How did The Bluff's work since it's open to the public now? Do they still pay dues? Did the original investors into memberships just get screwed? What about Copper Mill?
If they were equity clubs however much they sold it for was given to the stockholders equally. If its not equity fully private they should give all the existing members their innovation fee back
Posted on 4/14/14 at 11:19 am to TequilaMockingBird
quote:
Bull shite. Our 5,000 stock right now is appraised at 180,000 if the course sold the property
Unless your share of stock has been owned by the family for the last 80 years, then it believe you will be sadly disappointed when it comes time to sell. That sounds like the jeweler selling an engagement ring for $5k but appraising it for $15k.
The golf business, and particularly the golf course business, is not what it was even 5 years ago.
Posted on 4/14/14 at 11:24 am to cajuntiger26
At Augusta National we don't have stock memberships
Posted on 4/14/14 at 11:25 am to DivotBreath
First I work at this cc so I'm not biased. 2nd there are only so many shares to go around. There are only 500 shares and there will never be more so if they're all sold out you have to wait for someone to sell. And last it has nothing to do with the golf business. We've been open for well over 100 years and the real estate would be worth more than of we sold it as a golf course.
Posted on 4/14/14 at 11:27 am to TequilaMockingBird
so you are saying the course property is worth $90 mil?
Posted on 4/14/14 at 11:27 am to TequilaMockingBird
quote:
We've been open for well over 100 years and the real estate would be worth more than of we sold it as a golf course.
Likely, why it will never be sold as vacant land for development. So the equity in the real estate is a moot point. The club is successful, it will never be sold off for development. You will never get the investment back.
Posted on 4/14/14 at 11:29 am to DirtyMikeandtheBoys
quote:
Likely, why it will never be sold as vacant land for development. So the equity in the real estate is a moot point. The club is successful, it will never be sold off for development. You will never get the investment back.
Yep but what is 5 grand when the monthly dues are 500 a mont for stock holding members.
Posted on 4/14/14 at 11:30 am to cajuntiger26
If you have to ask...
J/k
J/k
Posted on 4/14/14 at 11:33 am to Camp Randall
Thanks for the info. I have always preferred LT in Lafayette but wanted to make sure I understood all option. I wouldn't have thought about the liabilities portion of the stock membership.
I will be a junior member with way, but still wanted to know in advance before I made my decision.
I will be a junior member with way, but still wanted to know in advance before I made my decision.
Posted on 4/14/14 at 11:34 am to TequilaMockingBird
quote:
Our 5,000 stock right now is appraised at 180,000
No, it is worth your enjoyment. Which right now is 5000.
If it were worth 180k, it wouldn't be selling for 5k.
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