Texas' iconic Waggoner Ranch for sale for...

[GhostTX]

That's pretty cheap per acre.

Yeah it is, a hair over 1400/acre, buildings and everything included.

Lemme hold some N's, I'll hit you back on the first mah bruthuh!

Ya, no kidding. Wonder if they'll sub-divide?

[racrguy]

I'm sure its not the standard 3% and it is split with 2 listing agents. But still in the millions

If it is 3%, I'd split that no problem, 21MM at that percentage. You could retire on that kind of cash.

[Trip McNeely]

Even though it's all around but not in any known major formation, I wonder if that price includes mineral rights.

[Baron Von Crowder]

larger than London.

I wish I had hte kinda credic available to own something like that.

[racrguy]

Even though it's all around but not in any known major formation, I wonder if that price includes mineral rights.

There are some 1200 oil wells on the property I read somewhere.

[slow99]

$21MM at that percentage. You could retire on that kind of cash.

Speak for yourself, YOLO!!!!!!!!!!!!!!!!!!!

[racrguy]

Speak for yourself, YOLO!!!!!!!!!!!!!!!!!!!

I could live REAL nice on a modest 4.5% returns, after 10% capital gains taxes on 10MM it's still 405k/yr.

[slow99]

I could live REAL nice on a modest 4.5% returns, after 10% capital gains taxes on 10MM it's still 405k/yr.

10% capital gains tax on $450k income, sign me up!

[racrguy]

10% capital gains tax on $450k income, sign me up!

Caveat: I don't know what the actual percentage is, so I'm just pulling numbers out of my ass.

[slow99]

Caveat: I don't know what the actual percentage is, so I'm just pulling numbers out of my ass.

No worries, I'm just fucking around, obviously. Long-term capital gains taxes are 20% if you're in the top income bracket, 15% for everyone else. Short-term capital gains are taxed at your marginal rate. So, those figures above would be 20% long-term gains tax and 39.6% short-term capital gains tax assuming you're in the top tax bracket after adjustments.

[racrguy]

JESUS FUCK! 40%? I'd find me some loopholes or move my money off shore.

[mstng86]

SOLD! To Stan Kroenke!

[lincolnboy]

Yay! Maybe he will buy the Cowboys while he is here

[mstng86]

Rams owner Stan Kroenke moved the team from St. Louis to Los Angeles this offseason. Now it seems he is up to his relocation tricks once again. Residents of the W.T. Waggoner Ranch in North Texas, which he recently purchased, were given eviction notices this month, per Patrick Johnston of the Times Record News.

Residents with leases near a lake on the historic 535,000-acre ranch must leave their homes by Jan. 31, 2017, or risk legal ramifications. Kroenke bought the ranch in February and wants to restore Lake Diversion to its natural form. This means kicking out everyone who lives near the lake, even those who have been there for many years

“I have no idea where I’m going to go,” Paul Appel, a Vietnam War veteran stated. “I have no money and I’m on Social Security and disability. I live month-to-month and can’t afford rent anywhere.”

Many other residents have similar stories, and relocation was never something they planned on. Some residents picked this land for their retirement.

Spread over six counties and nearly 800 square miles, the Waggoner is the biggest contiguous ranch property in the U.S. according to the Dallas Morning News. It includes 30,000 acres of farmland, about 1,000 oil wells and thousands of heads of cattle. The asking price before Kroenke purchased it was about $725 million.

Lake Diversion is a tiny speck on this enormous property. In a letter to residents, a law firm representing Kroenke wrote that the evictions were necessary “to return the lake shoreline to its natural, uninhabited landscape to support and improve the microecosystem in and around Lake Diversion.” The intent might be laudable, but lives are being disrupted by Kroenke’s decision.

For what it’s worth, the Waggoner heirs selling the property seem thrilled Kroenke made the purchase.


“Amid an emotional and, at times, trying sale process, we never lost sight of what we wanted in a new owner of this historic property: a keen sense of tradition, a love of the land, and loyalty to the people who work here,” Bradley Wharton, who represents some of the heirs, said. “Measured by these standards, we are confident that Stan will be a great steward of the Waggoner legacy going forward.”

From a Kroenke statement:


“This is an incredible opportunity and an even greater responsibility. We are honored to assume ownership of the Waggoner – a true Texas and American landmark – and are deeply committed to continuing the proud legacy of W.T. ‘Tom’ Waggoner, his family and his descendants.”

[8mpg]

Well...they dont own the property. People should always think about stuff like that when they lease land.