Just stopped at the turn. We had to get back to the house. I'll be back on the 22nd.

Do they not allow photos out there?

AggieT12 said:

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Called up there this morning at 8am for 2 weeks out. Had no problem getting the 9am tee time I wanted on Saturday May 23. Driving up from Austin with some buddies. Playing Pine Dunes Friday afternoon and Wild Spring Dunes Saturday AM. Quick 36 hour trip and I'm stoked.

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Great golf mini tour for a quick 2 day trip!!

I'll be a day behind you! Pine Dunes Saturday AM and Wild Spring Dunes Sunday AM.

In-laws have a house on Lake Athens so we go out to Pine Dunes often, but super excited to see WSD.

What was your best score on holes #1-8?

I had a couple buddies back out, so I have two spots at 10:20 this Sunday if anyone is interested. Will probably give them back to the wild springs people if I don't fill today.

how much? and how many/what holes are open?

20 holes now. 1-10, 17, 18, and 1-8 again.
$150 green fee. Caddie is $50 for fore caddie or $150 for pro.

My buddy and I are going to splurge for the pro caddie.

We played Sunday of Memorial Day (Pine Dunes day before) and its incredible

Its a less gimmicky Pinehurst #10

You dont need to the big dog if you can keep a 230-250 club in the fairway

Birdies can be had
Triples can be had

Like Pinehurst get off the fairway and good luck

They allow cameras but when you are out there you just kind of forget about your phone
+1 on the Hollow Green

Carson Pipes was a great caddy

Just asked a buddy if he's interested...should know in the next hour

I don't know when exactly, but they are about to go to member only play for two months and then close for a month before fully opening in September.

I really wish Google Maps would update so I cans see this place from the aerial view.

I can't make it but yall have fun. Going to try and get up there in the fall.

Got to play the 20 hole loop last weekend. This place is unreal and can't wait to see what all it becomes. Already looking forward to going back out in the fall. The 4hr drive from Austin isn't bad at all. Some interesting things we picked up talking to the staff out there.

-Planning 5 courses in total with a lit up short course and driving range for late arrivals.
-Carts will be available during the hot months: June - August
-Homes for sale on site are between $1.5mil - $5mil. Includes lot, house, and fully furnished. They manage all the rentals and take 60/40 split of profit.
-Initiation is $95k as of this week with $7,500 in annual dues. Initiation is refunded after 30 years.

Brisket poppers and the brisket sandwich were a great call post round. They didn't have their liquor license so no beer or liquor was available.

Got to do Bandon a few years ago and Sand Valley booked for next year. Huge fan of everything the Keiser family is doing. Rodeo Dunes, Wild Spring Dunes, and Old Shores will all be bucket list trips in the next few years.

Good summary. 30 years is max time to get your money back. Their previous deals average 5 years I'm told. And you can pass foundership down one generation as well.

Quote:

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-Homes for sale on site are between $1.5mil - $5mil. Includes lot, house, and fully furnished. They manage all the rentals and take 60/40 split of profit. REVENUE.

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Still... looks like a good way to defray the cost of owning a second home at a sick golf destination.

Based on Sand Valley and Bandon you'd probably have a VERY high occupancy rate once the place gets up and running.

Out of curiosity I ran some numbers... you'd probably need about $1.2MM in revenue to break even (well, cash flow neutral to be precise) if you went all in and did a $5MM house. That's $4k per night for 300 nights a year.

Nicest place at Sand Valley rents for $4700-$6000 per night.

I've done the math. It's at best a breakeven return. Maybe 5% return if you have 90% occupancy.
Gonna be an awesome place. I even thought about buying a spot even tho I'm 20 minutes away. I think I'll just rent for now if I want to make a weekend of it.

If you're a real estate professional you can get some good tax benefits that would change the math.

And if you were renting it out a ton you could spend quite a bit of time there.

Even so, not something that's ever going to be a cash cow. But if you've got the money to build a $5MM house at Wild Spring Dunes you probably don't need it to be.

Would it be hard to get the tax benefit when it's put into a rental pool where they do everything for you? I think it would be hard to deduct against your ordinary income because of that.

I don't think so... not sure why it would be different than paying a property manager anywhere else.

Your income on it is 100% of the revenue. Expenses are the 60% you give to WSD, plus anything you're paying out of pocket, plus depreciation. Seems like it would be easy to turn it into a paper loss with WSD taking 60% of revenue.

It seems like without material participation then you may not be able to offset ordinary income.

Okay I see what you're saying. Yeah, that might be tough.

Similar arrangement that Cabot Citrus has done it sounds like with the houses.

Fried Egg is having a 2 day event here in October I just signed up for. Looking forward to seeing all 18.