[pct-l] closure of ollalie lake resort?

[Reinhold Metzger]

Ned, Bob,
Do not let a land lease discourage you or any other interested party 
from pursuing this.
I have been a Commercial Real Estate Broker for over 30 years and do 
have a fair understanding of leases.
Most people are under the impression that if it is a land lease, it 
can't be a good deal.
Not so, if the land lease is structured properly it can be as good as 
any fee simple real estate transaction.
Some people prefer a land lease over a fee simple transaction because 
the land lease, if structured properly, will usually
result in more depreciation since the full purchase price can be 
depreciated over the remaining life of the lease vs only the 
improvements if it is not a land lease and should also result in better 
performance (cash flow) during the holding period to compensate for the 
potential loss of future appreciation.
So like I said do not let a land lease discourage you.

JMT Reinhold
-----------------------------------


Bob wrote:
> It's a run-down old fishing resort. Or it was........there have been a 
> few posts this year and last that confirmed it is out of business.  
> See 
> http://mailman.backcountry.net/pipermail/pct-l/2009-January/022656.html
>
> The road into it is a washboard of dust, baseball-size rocks, and 
> gravel.  After the resort, the road really deteriorates on its way to 
> Breitenbush Lake, supposedly fir only for high clearance vehicles and 
> 4x4s.
>
> You can't buy the resort per se. It's on USFS land so you only "lease" 
> it from them........and they can change the terms of the lease 
> whenever they decide to do so. Your only choices are to do and/or pay 
> whatever they say or give up the lease. You own the structures, but 
> they own the land. Not a good situation.
>
>
>  ----- Original Message -----  From: ned at 
> pacificcrestcustombuilders.com 
> <http://mailman.backcountry.net/mailman/listinfo/pct-l>  To: Asa 
> Gitter ; pct-l at backcountry.net 
> <http://mailman.backcountry.net/mailman/listinfo/pct-l>  Sent: Monday, 
> May 04, 2009 5:39 PM
>  Subject: Re: [pct-l] closure of ollalie lake resort?
>
>
>  Speaking of Ollalie Lake Resort and its struggles to survive, does 
> anyone  know if they are going out of business and, if so, does anyone 
> in our little  community want to purchase it???
>
>  Mtnned
>
>