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Ye olde Florida land scam. He could pull that I guess on his worthless land. https://en.wikipedia.org/wiki/Land_banking#Investment_land_banking_by_country quote:Florida land scams have history as far back as the 1920s Florida Land Rush. Many Florida Counties have traces of these land scams today. Polk County Florida in particular has been devastated with land banking scams. Polk County, being the land that lies between the city of Tampa, in Hillsborough County Florida and the city of Orlando, in Orange County Florida has been a hot bed for speculative land development. North Polk County falls within the lower Green Swamp. The State of Florida has declared the Green Swamp "land of critical state concern". During the 1970s through the late 1980s the Green Swamp was sold as being suitable for real estate development. The development of Disney World and the attraction it received was the sales tool to persuade individuals to buy one acre lots at high speculative prices. These prices ranged from $2,000 to as high as $15,000 per acre. The Florida land banking scams continue today and are mostly operated outside of the United States. Unwary foreign customers are sold Florida land from outside the U.S. borders through contracts for deed arrangements.
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Oct 4, 2020 22:49
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I have an idiot family-friend in central TX who bought tons of empty plots on the outskirts of various suburbs / highway off-ramps with the belief that Walmart would expand to those areas and buy the land from her at a markup. She's been right about a lot of the locations re: expansion, but there's so much empty land that Walmart literally just buys a parcel down the road or sometimes even right next to hers without inquiring at all. So now she has a ton of empty parcels next to a walmart parking lot, and nobody's buying. 
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Oct 4, 2020 22:51
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Ugly In The Morning posted:Land in the absolute middle of nowhere isn’t going to be worth a shitload more like he’s expecting it barring a reason to think there’s something valuable on it. If it was in a metro area, sure, that’ll go up, but that’s also going to be stuff that he wouldn’t be able to afford. Does he think that they’re just going to want to slap a housing development down? I'd be curious to see a link to whatever reddit thread that came from, though. Googling doesn't bring it up.
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Oct 4, 2020 23:02
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This is something that is literally taught in college too. Urban planning, economics or real estate programs will all look at this exact question.
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Oct 4, 2020 23:12
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If you buy a volcano are you entitled to the land it produces? Is it nature’s dividend?
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Oct 4, 2020 23:15
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f1av0r posted:If you buy a volcano are you entitled to the land it produces? Is it nature’s dividend? I had to search this, so here is a vice article https://www.vice.com/en/article/ywen3y/who-owns-the-new-land-created-by-a-volcano-in-hawaii-kilauea-big-island Land is owned by the state unless specifically conveyed, so unless the deed for the land defined it as the entire volcanic island, the borders of the land would be subject to the metes and bounds of the initial deed, subject to the chain of title and any subdivisions/assemblages along the way.
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Oct 4, 2020 23:21
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Magnetic North posted:I think I heard Gronk did this too, instead partying with money made from endorsements. I guess it might still be bwm to fritter away that money, but it hopefully won't end up Tragic with Money if they still hang on to a few mill. edit: There was also a story on American Greed where an NFL player invested his money in a fund with a trusted investor and WHOOPS IT WAS A PONZI SCHEME ALL ALONG and lost his money, but that's just grand larceny by the Ponzi scheme guy and not the player being BWM. double edit: Steve Smith interned with Morgan Stanley, not BoA, thanks crazypeltast52 vvvvvvvvvvvvvvvvvvvvvvvvvvv link down there CannonFodder fucked around with this message at 00:16 on Oct 5, 2020 |
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Oct 4, 2020 23:26
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CannonFodder posted:Steve Smith of the Panthers spent his first offseason interning with Bank of America to learn the inside of finance. He saved his money and, in his words, bought a Bentley with the money that his money made. Oh dang, that is a pretty great story. It looks like his money was being managed with his advisor, so probably GWM for it looks like Morgan Stanley to get him to keep his money managed with them instead of the money going into harebrained schemes. Here's a blog post from that time that has more details. https://traditionofexcellence.wordpress.com/2008/05/23/carolina-panthers-steve-smith-spends-offseason-as-financial-intern/
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Oct 4, 2020 23:40
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crazypeltast52 posted:Ye olde Florida land scam. He could pull that I guess on his worthless land.
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Oct 5, 2020 00:39
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quote:I'm a guy who has been living alone in an abandoned ‘ghost town’ for over 6 months. I bought the town just over two years ago. quote:
quote:This isn't an investment with an anticipated return, is it? What were you convincing them of exactly? quote:
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quote:If I can't make the money back with tourism, then I might try to see if I could rent it out for paintball or airsoft teams. That might make it profitable. quote:I intent to pay back the who loaned me the some of the money for this. They are people that believed in me because they'd seen how I worked and done in the past. quote:With population growth there’s going to be a lot more spread of humans into depopulated areas in the future unless something unforeseen happens. That is a backup plan. quote:
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quote:Some of them are mad because the town hasn't been generating as much money as anticipated. We haven't figured out how to make money from it and they thought I had a plan. I have a plan, but not a specific plan. We did get a New York Times article about two years ago, but they don't pay you anything for writing about you. The only money we have made so far was from our GoFundMe. quote:What I really want to find is Levi Jeans. Levi's made the first blue jean for California silver miners in 1873. They are THE thing to find for denim collectors and Levi corporate can buy them back for close to $100k because they're so rare. quote:
quote:I think COVID is the reason we can't get any money coming in. Once that is over, I expect the ghosts and history to be very profitable. The loaners have given me some leeway because of COVID. quote:I think the ghosts are a big part of it. We even paid extra to close the sale on Friday the 13th in true ghost town fashion. Leon Trotsky 2012 fucked around with this message at 00:57 on Oct 5, 2020 |
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Oct 5, 2020 00:54
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If you don’t have a specific plan, that’s called “not having a plan”!
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Oct 5, 2020 01:07
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No no no, he can totally just build a hotel there and that will provide oodles of money automatically. Because tons of people want to stay in a random ghost town that has no attractions or anything set up. And if that fails, well, who doesn't want to hike out to a remote ghost town to play paintball? It's a foolproof plan!
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Oct 5, 2020 01:22
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bob dobbs is dead posted:i know a vc who wont show up if your margin before payroll isnt at least 90% but PaUl GrAhAm SaYs Do ThInGs ThAt DoN't ScAle!!!!!1!!
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Oct 5, 2020 01:30
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6000 feet of elevation gain over 7 miles is a 16 degree grade, if the calculator I found is to be trusted. You aren’t getting RVs up there.
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Oct 5, 2020 01:31
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Haifisch posted:No no no, he can totally just build a hotel there and that will provide oodles of money automatically. Because tons of people want to stay in a random ghost town that has no attractions or anything set up. And if that fails, well, who doesn't want to hike out to a remote ghost town to play paintball? It's a foolproof plan!
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Oct 5, 2020 01:34
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TheMadMilkman posted:6000 feet of elevation gain over 7 miles is a 16 degree grade, if the calculator I found is to be trusted. You aren’t getting RVs up there. He didn't buy a 'town' he bought an abandoned mine with a man camp
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Oct 5, 2020 01:35
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CannonFodder posted:That made me do a double take. 7 miles of dirt road? UP 6000 FEET OF ELEVATION? That caught my eye too. Lol if that’s not a typo.
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Oct 5, 2020 01:35
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Midjack posted:That caught my eye too. Lol if that’s not a typo. The Pikes Peak International Hill Climb (PPIHC), also known as The Race to the Clouds, is an annual automobile and motorcycle hillclimb to the summit of Pikes Peak in Colorado, USA. The track measures 12.42 miles (19.99 km) and has over 156 turns, climbing 4,720 ft (1,440 m) from the start at Mile 7 on Pikes Peak Highway, to the finish at 14,115 ft (4,302 m), on grades averaging 7.2% His road is steeper than the Pikes Peak climb.
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Oct 5, 2020 01:39
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All of that is interesting, but the place literally doesn’t have water power or sewage. Like if you want to loving camp there are a million better places.
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Oct 5, 2020 01:56
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Clearly the plan is to convert it over to a vintage jeans mine.
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Oct 5, 2020 01:57
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Yeah that is a brutal amount of climb, it's hard to define how steep that is without just doing it on foot but trust that it's insane. Also lol at the idea of drawing wells from a mine, if it was anything but a stone quarry that water is usually real bad for you.
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Oct 5, 2020 01:59
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For sale: Ghost town, selvedge title
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Oct 5, 2020 02:02
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GoGoGadgetChris posted:For sale: Ghost town, selvedge title You are too good at this
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Oct 5, 2020 02:15
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GoGoGadgetChris posted:For sale: Ghost town, selvedge title 
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Oct 5, 2020 02:16
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Stay safe poverty ghost town
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Oct 5, 2020 02:20
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Cacafuego posted:Stay safe poverty ghost town oh goddammit
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Oct 5, 2020 02:25
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It's here in case anyone couldn't find it: https://goo.gl/maps/4gzAVYFUNoYYGtSG9
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Oct 5, 2020 02:56
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I was poking around the area looking at cheap places, and I think I've found the worst house ever. https://www.redfin.com/MA/Lawrence/30-Rowe-St-01843/home/11319970
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Oct 5, 2020 03:01
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Trimson Grondag 3 posted:It's here in case anyone couldn't find it:  the highway turnoff for the road to the ghost town is apparently a local favorite spot to do donuts:
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Oct 5, 2020 03:07
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Trimson Grondag 3 posted:It's here in case anyone couldn't find it: Jesus Christ, no loving way is anyone trekking all the way up there for paintball.
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Oct 5, 2020 03:07
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I think there's enough people who actively post in this thread that we could all go there, and like, take over.  I don't know what we'd do then, but that's at least more planning than that dude did.
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Oct 5, 2020 03:11
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What do you think the police response time to a ghost town is?
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Oct 5, 2020 03:17
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"Ah, but answer me this," said the Wise Man, "Who is truly the most BWM? The man whose retirement plan is a $1.4 million ghost town... or the friends of that man who invested six figures on the idea and expected to make money from the investment?" He paused as he took a drag from his pipe and a sickly sweet smoke lofted up from the chamber, "A fool flatters themselves for their shrewd business deal. A clever man flatters the fool into investing in his dungaree cave."
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Oct 5, 2020 03:22
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Didn’t this guy’s town burn down a few months ago? KEELER, Calif. — The smell of scorched wood and melted wiring lingered in the air Thursday as Brent Underwood surveyed the damage to this 19th century mining town perched 8,500 feet above the Owens Valley floor. The marketer and his partners bought the Cerro Gordo ghost town for $1.4 million in 2018 with the goal of transforming it into a remote tourist attraction. Visitors would enjoy gourmet meals, hikes to scowling mine shafts and overnight stays in a rickety bunkhouse and hotel. But that dream suffered a fiery setback last week. Underwood said he was awakened at 3 a.m. June 15 by the stuff of nightmares: furious winds driving flames that were leaping like demons and scorching unpredictable paths up slopes dotted with historic mining structures. Then came the explosions of propane tanks as flames engulfed the hotel. https://www.google.com/amp/s/www.la...mes%3f_amp=true
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Oct 5, 2020 03:27
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To be fair, I would probably trek all they way up there to tramp around an abandoned mine, but the my tourism dollars would probably amount to maybe a tank of gas and whatever a backpacking permit might cost.
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Oct 5, 2020 03:30
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JnnyThndrs posted:Didn’t this guy’s town burn down a few months ago? It wasn't the whole town. It was part of the hotel that he was doing renovations and wiring on. Either the fire started because he is a marketer who was trying to do electrical work on a building made from century old wood and did something wrong, or it could have an equally plausible explanation: quote:Then, the lanky 32-year-old suggested the cause might be paranormal. “The caretaker here told me that he and another person saw a shadowy apparition moving in the hotel kitchen at 4 p.m. the previous day.”
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Oct 5, 2020 03:33
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I mean, why do you think they call them ghost towns?
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Oct 5, 2020 03:38
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Oh interesting, that reminds me of a local money pit, a recreation of a medieval castle in central Kentucky that some marketer bought to turn into an upscale hotel. It also caught fire during "wiring upgrades" and paid out a lot of insurance money, what a random happenstance thing to happen.
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Oct 5, 2020 03:48
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vonnegutt posted:Oh interesting, that reminds me of a local money pit, a recreation of a medieval castle in central Kentucky that some marketer bought to turn into an upscale hotel. It also caught fire during "wiring upgrades" and paid out a lot of insurance money, what a random happenstance thing to happen. According to his GoFundMe, he didn't insure any of it. Not sure if attempting insurance fraud or burning it down without insurance would be worse with money.
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Oct 5, 2020 03:53
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The GoFundMe also says:quote:The cause of the fire is unknown. The common assessment right now is old electrical wiring and paper thin, dry wood. We don’t yet know. There was some work being done by myself and others in there, but fire department said it wasn't able to pinpoint the source. This fire may have been inevitable. quote:We may never know exactly what started this fire. Fire officials told me that it could have been a thousand different things in these old buildings. Sure, bro. It could be a thousand different reasons why the wiring upgrades that you were working on that day decided to start a fire. 999 of those 1,000 reasons are a lot less likely than one of them.
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Oct 5, 2020 03:58
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