Didn't know they were in "trouble" You know what will happen, developer will buy it & it will become a subdivision, another drag strip will be gone forever!!!!
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Some times I wake up GRUMPY, but today I let her sleep in !!!!!!!!BLACKSTOCK Ont.
As a homebuyer in today's marketplace, understanding the meaning and implications of a Power of Sale are absolutely essential. A Power of Sale listing occurs when the previous owner defaults on their mortgage, and literally walks away from their home and their financial obligation. The mortgage lender usually a bank or financial institution then holds the Power of Sale. Their goal is to recover the money still outstanding on their original mortgage loan. In times gone by, when home prices were on the rise, buying a home through a Power of Sale could often be a bargain. Since the lending institution's primary goal was to recover only the money owing, without having to carry the home's expenses for a prolonged period, these properties would frequently be sold below market value.
Didn't know they were in "trouble" You know what will happen, developer will buy it & it will become a subdivision, another drag strip will be gone forever!!!!
I'm afraid I have to agree. St. Thomas has been on very shakey ground the last few years. Someone would have to buy it and be prepared to spend some serious money spiffing it up and attracting some big time events that would generate some serious revenue. It's too bad because it is my favourite track, it's the only one that has any trees for shade and you can always get lots of runs in because it's never too busy - maybe that's what led to it's downfall. Cayuga is awful, no shade at all and it is always busy with "events". Many times you can spend the whole day there and only get in 2 or 3 runs because the events always have priority over T & T. It may make it financially viable but it is usually a waste of day for a hobbyist who just want to get a decent number of runs in.
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Hillar
1970 LS4 (eventually an LS5) Laurentian 2dr hdtp -and a bunch of other muscle cars...
So 1.25 Million is very negotiable, woudn't you say?
I doubt it if that is what is owing on the mortgage. I'm sure they are thinking in reality that a developer will buy it and not another drag strip operator...
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Hillar
1970 LS4 (eventually an LS5) Laurentian 2dr hdtp -and a bunch of other muscle cars...
It's too bad because it is my favourite track, it's the only one that has any trees for shade and you can always get lots of runs in because it's never too busy - maybe that's what led to it's downfall. Cayuga is awful, no shade at all and it is always busy with "events".
Many times you can spend the whole day there and only get in 2 or 3 runs because the events always have priority over T & T. It may make it financially viable but it is usually a waste of day for a hobbyist who just want to get a decent number of runs in. You just described Gran Bend Motorplex 8 hours in the sun to get 2 runs (They can't see it) (stands are alway empty)
We rented the track for the day 3 years ago when we got are hands on an 07 Shelby GT500. Made close to 70 runs with the car. Dave, the owner of the track is a great guy.
Wow. I didn't realize it was for sale. That place has been like a 2nd home to me on Sundays since 1975. Since Grand Bend re-opened it has been tough to compete with them. I only hope it stays a drag strip, but I doubt it. I've heard lots of gossip about financial hard times and local pressure to close it. There has been a lot of Friday night run what ya brung action, but the big meets are all at Grand Bend.
We should buy it for shares. I've got a grand. Then we should have one of our re-tired members run it. whatever we clear over the season should be re-invested for future expenses. Have a legal contract drawn up, and let's get on her.
We should buy it for shares. I've got a grand. Then we should have one of our re-tired members run it. whatever we clear over the season should be re-invested for future expenses. Have a legal contract drawn up, and let's get on her.
That's not a bad idea. Mission Raceway Park in BC is owned and operated by the BC Custom Car Association. In my opinon it's one of the nicest and best run tracks I've ever been to.
what Ray said....