FS Interstate Drag Ways
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If it got into the hands of the right people and they wanted to run it to actually make $$ i think it could be a pretty sweet deal. Otherwise if it continued on as it is i see someone losing a whole lot of $$$, which i think is whats going on right now as if i recall they put probably double into it as what their asking for it now.
I wonder how long they'd let you finance something like that for.
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I called the bank just for shits and giggles and i got the answer exactly like i figured it would. Financing for someone w/o a bundle of cash is gonna be an issue. Being there is a business for sale they want the revenue of the past 3 years of the business, which based of what we've seen their probably losing $$ and you'd be able to finance for roughly 15-20 years @ a 7-8% interest rate right now.
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i could potentially make money, but if the city desides to run highway 75 threw it well then all you got is the name and some land, unless the highway would run threw another area on the property it might not be so bad.
anybody have any ideas on how much it would cost to build a strip and get it equipped ect. ?
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97jeep wrote:
i could potentially make money, but if the city desides to run highway 75 threw it well then all you got is the name and some land, unless the highway would run threw another area on the property it might not be so bad.anybody have any ideas on how much it would cost to build a strip and get it equipped ect. ?
Oh i know for a fact it can make $$$. Its just gonna take a lot of time and work to turn the reputation around and run a new schedule. W/ the limited schedule they run now i dont see how it could make $$. But there is no reason why events can be run every weekend fri-sun.
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I actually don't think it would take that much to turn things around at the track. With the internet and multiple car forums around I think a person could hype the track pretty well and get people to come in. It would be a lot of work tho, whoever buys the track would be wise to hire Derek to run the thing, at least for a while while you learn all the ropes to running the place. Oh well, all speculation at this point.
PSI2HI wrote:
Oh i know for a fact it can make $$$. Its just gonna take a lot of time and work to turn the reputation around and run a new schedule. W/ the limited schedule they run now i dont see how it could make $$. But there is no reason why events can be run every weekend fri-sun.DaveH
'94 Supra- 7.77 @ 176mph -
The only problem that I see with that track ever making real $ is the insurance costs. If what we've been told in the past is legit, the per day price of insurance is fairly high. You'd need large car counts each day/night to even break even. Sure, some of the race days pulled in 150+ cars, but there were some around 80, I believe.
If the track weren't in MN, maybe it would be a different story insurance-wise.
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If there was a buyout by a fairly well known group (SLS, Tintmasters, anyone else i dont know) that in itself could put some good publicity on the track as well. When you see someone that has a good reputation buy out a track and then advertise the hell out of it with shameless internet/word of mouth/other way plugs I bet you could draw a damn good crowd too. If it was decent enough too I bet you could pull people from extremely long distances. I dont know where any other tracks are located but the lengths ive heard of some people driving to go to a decent track....if it was successful (which is the big question i know) it could def. bring in money.
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i had done a research paper on street racing last year for english. i found a article on prevention and it mention interstate dragways in moorhead mn. the article was from a paper in san fransisco. so the name is out there allready but i have no clue how in california.
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Doing some rough figures i'd say its a safe bet to say it'd cost probably $250k+ a year to keep the place running between finance payments, insurance payments, utility bills, employees, upkeep, etc. All of that $$ in which is going to have to be made between April-Oct.
Biggest problem here now is its also a safe bet to say the bank is gonna want 10% down on the finacncing. Idk about you guys but i dont know to many people w/ $130k cash in their savings account. So either gotta be somebody w/ a good chunk of cash or a home owner w/ a well appraised home to take out some equity against their home for a second mortage to make a downpayment. All of of this in which is a risk. Based off hearing that Interstate Dragways pro-rated payouts last year because of the lack of attendance says to me last year they didn't make much $$ if any @ all.
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Weird..
My first time to the track w/ my car @ Cedar Falls.. Had a really good turn out..
And they run a Test/Tune every Friday... (evenings) so I hear; could be wrong..
And this is in IOWA.. 3+ hrs from Twin Cities; as well as Sabin would be.. I'm sure the crowd drawn to Sabin comes from North/South/West/East.. For at least a couple hours..
I'm sure there should/could still be an 06 Season if they are trying to sell it.. Could come to bring publicity to sell it; no reason to not let it go to use if they are trying to sell it..
just my opinion. -
A853 wrote:
Weird..
My first time to the track w/ my car @ Cedar Falls.. Had a really good turn out..
And they run a Test/Tune every Friday... (evenings) so I hear; could be wrong..
And this is in IOWA.. 3+ hrs from Twin Cities; as well as Sabin would be.. I'm sure the crowd drawn to Sabin comes from North/South/West/East.. For at least a couple hours..
I'm sure there should/could still be an 06 Season if they are trying to sell it.. Could come to bring publicity to sell it; no reason to not let it go to use if they are trying to sell it..
just my opinion.I've been to Cedar Falls numerous times and they are night and day above us. And yeah they run test and tune nights every week, which idk why the hell we dont here. Thing that sucks here and isn't gonna chance is the noise ordinace and shutting down an hour before sunset, kinda ruins any chances of night racing/late events.
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well Day-Time Sat./Sun. before sunset would be nice..
I think Mid-Days Sat./Sun. ppl can make weekends of it..
Cedar Falls was also cheaper it was like $20 to race.... -
i was always wondering why there was never races later then 8ish on tintmasters nights and the late afternoons most of the time. why is there a noise ordinance there? if its a county thing why isn't buffalo river in the same ordinance(i believe that is still in clay county)
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Yup.. It is in Clay County; and in fact near Highway Ten; vs. Interstate ( a less frequently used road) and plus that.. They are what.. Every Sunday night??? When Sabin Drags are like Fri./Sat.s not a late Sunday; makes no sense...
Cuz it's a consistent louder ness at buffalo vs. less consistent loudness at a drag strip; which is closer to a more used highway...
maybe there's a petition or something that can be changed
unless it's an insurnace reason that they have to shut down before nighttime.. I dunno -
I personally think that is quite a bit of money for that set up because the land i doubt is worth more than $250k at most (im not sure what land goes for in sabin but im guessing not too much). And i know getting it paved and the timing stuff is fairly expensive but would still be affordable.. And the house and pole barn aren't really worth much. Just my oppinion but i don't think it is worth that much even if they have that into it. And the reason they wouldn't wait for the government to come take it for the highway is that eminant domain (government buying land for a public good) pays "fair" market value. Which for that place i would guess they would say the land and buildings are worth a couple hundred grand. They don't consider the time and effort put into it, the value of it as a buisness, or its purpose.
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Ya.. And In my opinion; if you end up selling to the GOVT., they'll pay a pretty penny (fair market value like someone said) and you could just do a quick rebuild somewhere else.. Maybe find some cheap land where future roads may not become an issue..
Just my .02 -
A853 wrote:
Ya.. And In my opinion; if you end up selling to the GOVT., they'll pay a pretty penny (fair market value like someone said) and you could just do a quick rebuild somewhere else.. Maybe find some cheap land where future roads may not become an issue..
Just my .02
And maybe somewhere so there can be night drags to where people wont complain about loudness. It is hard to find area like this but its out there.Matt
92 Civic HB
JDM d15b w/14b@8psi
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