Posts
9
Joined
1/22/2022
Location
Woodstock, GA, USA
As the title states. I found someone that has a private track on land they own. It’s been around for a few years but has been sitting for about a year now. I’m in talks with putting money up to have the track rebuilt to have access to come ride whenever I would like and possibly have some open ride days that would be invite only. What can I do to protect my investment? I was planning on having a Land use agreement to have as a binding contract to have access for a set time.
Step 2: get off vital and go ask a lawyer instead of a bunch of vitards.
Step 3: Include me in the land use contract so I can protect my riding rights.
All jokes aside I think you’re on the right track. But seriously I would ask a lawyer to draft up some sort of agreement. The last thing you want is to put in all this work all for the land owner to kick you out and ride their newly revived track. Hopefully it isn’t a touchy subject with the land owner. I would discuss some form of contract before I put any money/time into the track.
If you set up usage as something like Wednesday after 3:00 pm until dark and weekends before 2:00 pm you won't wear out your welcome and they won't get sick of you.
Hell, I would include securing the property with fences. gates, and signage.
You would appear pretty legit if you got ahead and mentioned all that in your lease.
You may want to include something in it that you can level the track when you are done with it so if they boot you out they don't benefit from your work unless you choose to leave it.
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Have a lawyer guide and document those agreements.
Don't assume that if things go sideways your investment is protected. You can win a lawsuit that says so-and-so owes X dollars, but if so-and-so has no money you don't recover. You should assume that at some point it will wind down with no return on investment apart from being able to ride on the property,
Get to know an insurance broker who likes bikes.
I know a guy who did what you are wanting to do last year. It only lasted about 6 months before the property owner pulled the rug out from underneath him. The crappy thing is you can have contracts and agreements in place, but if they are violated you still gotta pay more money to go to court.
Not trying to discourage you, just make sure you look at it from all angles like Fresh Top End suggested.
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