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Assuming that you must be Blake's dad. So did you lose your 1/2 down investment?
Moto Academy?
What if it was made aware that the town or neighbors had been filing complaints and operating a full time facility was likely to become less possible, similar to Rattray? Just throwing out possibilities, but I think people need to bring it back a notch without knowing hardly any details. Give a little grace and let the truth come out when appropriate.
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The truth? You mean like an entire YouTube video about how it's his and what bikes you can rent and how many RV hookups he has?
Again the problem isn't the deal falling through, it's the premature announcement and underlying tone of someone getting screwed.
Let us know the truth, we can handle it!
With MTF next door, that's a non issue, that fight has already been put to rest....
1st part of a 3 part youtube video here from Racer X films will show some of the previous history. About 30 minutes total but a good watch.
https://youtu.be/OGLThxTDQ3k
I also believe the guy who commented he is the partner and got screwed is truthful. If you put up money on a land contract with a partner, and the partner (whoever that may be) fails to come up with their end, you are out of what you invested, unless you have a specific clause in the contract protecting your investment. Any good lawyer for the seller, would never allow that verbage to exist. It would get redlined all day, unless the seller was OK with it.
My guess, is there will be some future legal action vs whoever walked (which we know was not GPF), it will all be spelled out in public court documents, if it hasn't already been done.
Hopefully all parties get made whole in the end, with as little headache as possible, and the moto community keeps trucking forward....
Yes I'm triggered. I don't even know you. Why would a care? Any other cool buzz words like I'm a snowflake? Pretend like there wasn't a shitty tone to your post all you want
No offense Bro but your are one of the most triggered dudes on here (not implying you lean left).
Are you sure it was a land contract and not an asset purchase agreement? With an asset purchase contract there would be what is called a good faith deposit that would be held in escrow, the contract would stipulate the contingencies, financing is typically a contingency. If it were a cash deal where the partners would have a separate agreement on how it was going to be funded and that fell apart outside of the purchase agreement and they couldn't fulfill the purchase agreement as a result then that would be a breach of the purchase agreement. The seller would be able to have a claim to the good faith deposit and my assumption is that the closing day came due and the buyers didn't have the money to settle the transaction and the seller chose not to move forward.
Was not a land contract. Was a purchase with owner financing. I paid up my half in February when we signed contracts. Other party was suppose to have his for closing and he did not. Leaving me and my family out allot of money.
Man, I hate this for you. I hope somehow it all works out in the end.
Sounds like a bad deal for all parties, no judgement by me for anyone. Sometimes our goals exceed our situation. Hate that it couldn't come to fruition for everyone involved.
This ha ha ha 🤣 . One of the stupidest thing s I've ever heard
That's what I assumed I am a business broker so I have a good understanding of transactions of this nature, I'm assuming what you put up was considered the deposit in escrow. I'm really sorry to see that this happened to you.
Damn, that is ugly. Hope that BBusa has funding to hire a corporate Attorney to recover his money. Sad.
If in fact this is accurate, what say those here stating AJ handled this well and we should all "leave him alone" yet he was positing videos as if the deal was done all while shafting his "partner"?
I would consider whether its good to post any deets about this online esp if potential litigation were going to be involved.
Pit Row
Exactly why I haven’t blasted the entire story yet
I would think you would have hired an attorney to look over the deal before you shelled out that much cash. When putting up a deposit that large most people will have some sort of clause in place to protect themselves.
Weren't you advertising you were the co-owner of motoacademygeorgia a few months ago?
I was just quoting off of the screen shot of the GPF notice someone shared off page 2.
But yes, regardless it would have been held in escrow. We recently did one on a couple hundred acres, under a PA, and if we walked after our DD period, seller kept the deposit.
Appears to be what happened in this case, based on a party not complying with the set forth contract.
Typically a land contract is just a seller financed purchase of land. In this case you have the land/real estate that has a value that is typically achieved by having an appraisal and/or appraisals and split the difference. Then you have an operating business that's value is more than likely to be a multiple of EBIDA (typically 2-3X) the two together would be the total purchase price. Of course the true value of a profitable business with land/real estate is what someone is willing to pay....
This is a total bummer for everyone involved. Business deals can go sideways fast, often times it’s due to poor planning or foresight. Most of the time though it’s over exuberance on one parties side. AJ doesn’t seem like a nefarious person. I’m just wondering why all the ducks weren’t in a row.
This is not a $5000 buy a bike in a parking lot deal, it’s a huge investment. I would have had attorneys involved from the get go. If I lose $200 it is what it is. You start talking about losing millions, I’d have some serious discussions.
I’ve been a lurker for a long time and this post made me sign up. Hi guys!
I just hope that everything can be resolved for all parties.
Welcome aboard AJ
The only winners in this will be lawyers
I am not AJ. Farthest from it. 😂
AJ has already posted earlier in this thread.
Nope.
I always liked AJ and I was and am trying to stay in my lane (see my post on page 1) on something I know nothing about, but it *seems* like a dick move to let someone else put their money in if you don't have your part 100% taken care of...
Shit happens so if you don't have your part of the money in your hand or in your account, then you are gambling with the money of the poor dude who did pay up and they're the one who loses if shit does happen or if you change your mind.
Maybe nefarious isn't the word for it, but being happy to risk another family's money sure isn't a great quality in a person.
I'm not saying that AJ is that person, as only one person here straight-up knows what happened, just speaking generally.
Sounds like you care..lol.
“i CaN rIdE aCrOsS tHe GrAsS bEcAuSe I oWn It NoW”... If you thought my tone was shitty that’s fine I couldn’t care less, I thought AJ’s was shitty in the video. My comment remains, unlike the embarrassing video. Imagine if your family cleared forest and spent 20+ years homesteading a ranch. This is no different. Then a POTENTIAL buyer rolls around the property with a film crew before closing date, talks about how little has changed there since he was a kid, how easily it could all be improved, calls it “mine” numerous times while your business is still clearly operational..Uploads the video to YouTube same day for whole internet to see and wonder what the hell’s going on.. Even if the deal would have went through, which I thought it already had at the time, that video was flat out disrespectful imo. Not much regard for the work it takes to clear all that land, build all those structures, utilities, irrigation, and then maintain it all while serving your customers day in day out. I feel for GPF’s reputation and the business partner more than I do AJ. If you feel otherwise that’s fine, won’t see me attacking you for it. That’s snowflake sh*t
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