Did Carlton Woods sell?

9,181 Views | 21 Replies | Last: 8 yr ago by garym2001
jja79
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AG
Heard the members bought it. I think a poster here is a member and mentioned it.
HouAggie
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I heard that the members' attempt to purchase fell through. Not positive though.
plarmigan
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My FIL is a member and according to him they are indeed buying it. Not sure if it has officially closed yet though.
cheeky
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We close next week. Due diligence is complete and funds are raised.
HouAggie
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AG
I stand corrected...
Matsui
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What is the advantage of disadvantage of this?
Unemployed
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quote:
My FIL is a member and according to him they are indeed buying it. Not sure if it has officially closed yet though.
You married well.
AgPrognosticator
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quote:
What is the advantage of disadvantage of this?
Members run the club how they want as opposed to a management group running how they see fit. That's really the nut.
HouAggie
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^
This

Potential to be either an advantage or a disadvantage.
jja79
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I was told it's been operating at a pretty big deficit so the dues are likely to go up quite a bit.

With the price of oil where it is I wonder how that bodes for CW and the far northwest high end clubs being developed and redeveloped.

Stagecoach glad you guys got it done.
cheeky
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dues will be about 50% higher than 1 year ago

initiation is going to 150
garym2001
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$150k would make it the highest initiation in Houston. That's crazy.
jja79
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If you don't own a lot isn't Bluejack $150K? I believe after the course reconstruction Houston Oaks will be $150K also.

That was the reason for my question about the price of oil affecting the CW situation as well as the 2 other clubs.
LeFraud
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Can someone enlighten us lolpoors, are these initiation fees paid in one lump sum, or is it spread out over time? Tia
AgPrognosticator
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If you asked to pay the the initiation in installments they would rescind their offer of membership.
WHOOP!'91
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$150k ought to keep out the riff-raff.

Like me.
garym2001
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sometimes you can pay installments. We went in as Jr members to a club in town and paid $15k and then were able to finance the remainder through the club. If you're going as a full active from the jump, you're likely paying all at once.
jja79
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What astounds me is the number of 30 somethings able to make the payment.
AgPrognosticator
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quote:
What astounds me is the number of 30 somethings able to make the payment.
It's not like they earned it...Maybe 1/20 of those "30 somethings" earned enough money to drop $150k in cash on a country club membership. The ones that actually earned it probably wouldn't spend it because they are too busy working.

The remaining 19/20 inherited daddy's money, married well, or had parents that hit oil...
jja79
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I understand that.
I Am A Critic
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Or those 30-somethings were smart enough to buy a Young Professional membership at $30K and not a full membership.
jja79
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Don't know about CW or Bluejack but Im fairly certain Houston Oaks doesn't have a YP program.
garym2001
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River Oaks, Houston CC, Lakeside and Braeburn all have Jr memberships available. You pay a reduced initiation fee and must make up the difference by your 40th bday.
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