Windy Point on the market again

[Mack Diver]

Anybody got an extra 15 mil? Maybe if we each pitch in a few 100k's, we could give him a low ball offer.

images.atlantic.net.Windy Point Park on the market for $15 million

 

[MattJ]

Paragraph 6 of the article:
Any sale to a private buyer would probably end public access.

Sad, but true. Who's going to shell out $15 million to charge $5 or $10 per person to come dive?

 

[Geoff_H]

Paragraph 6 of the article:
Any sale to a private buyer would probably end public access.

Sad, but true. Who's going to shell out $15 million to charge $5 or $10 per person to come dive?

You've got a 10-15 year brake-even payoff..... much shorted than investing in a bluechip PLC with a P/E ratio of 15-20. With some minor development you could probably increase fee's as people would be willing to pay for improved facilities.

 

[darthvader]

You've got a 10-15 year brake-even payoff...

Do you (or anybody here) know how much cash is generated from the scuba park operation? I'll agree that it could easily be doubled with better management. Still, I'm not sure whether it would be enough to value it at $15MM based soley on cash flow from operations. I would certainly love to know, though.

BTW, here's a link to the article in today's Austin Statesman.

 

[carlislere]

Rats, I just took out that money market CD. I guess that leaves me out of the bidding now.

 

[Joe-Diver]

Sure...what's needed there is yet another fat ***** mansion.

Dude's 78 and what will he be remembered for after he and his scuba park are gone and buried under a mansion and yacht dock?

If it was mine - drop the price to a few mil for the county, and they also expand the whole point, drop the name Bob Wentz, and name it after me.

 

[TwoBitTxn]

From the article...

Barstow would "love to be able to keep my land in park service, but it's just not economically possible," he said, adding that he has been subsidizing it out of his pocket for a number of years.

The park has been losing money?????!!!!

TwoBit

 

[Timeliner]

I love Lake Travis but personally if I had 15 million I'd buy a spot in an even better dive location ( maybe 2 or 3 of them) and not even think about working the land.

 

[Willie]

Rats, I just took out that money market CD. I guess that leaves me out of the bidding now.

Maybe we could find someone willing to donate some 'matching funds' and take up a big collection for the 'Official Texas Swamp Divers Paradise'. Yeahhhhh, that's the ticket!

We should have a naming contest, best acronym gets first billing on the huge bronze plaque of donors.

According to http://www.scubaboard.com/forums/677657-post4.html there are 289 of us. Let's see ... that's only $25,951.56 each if we can find someone to donate the other half.

:rofl:

Willie

 

[ATXGoreDiver]

From the article...

Barstow would "love to be able to keep my land in park service, but it's just not economically possible," he said, adding that he has been subsidizing it out of his pocket for a number of years.

The park has been losing money?????!!!!

TwoBit

Yes, my next door neighbors are friends with Richard and he has indeed been subsidizing

Edit: I do agree though that that's all the lake needs is another mansion But, it's in the flood plain so who knows if anyone would want to build one there.