Posted:
#1
2003 i purchased a home on a golf course owned by Mr. Walters on the east side of Vegas. Actually 3 courses totaling 54 holes.
I worked as a golf instructor there. Long story short homeowners in the community called Stallion Mtn. were offered a lifetime membership to play the three courses for a one time fee of $30,000.
Fast forward to 2006 and Walters claims the golf industry is in decline and opts for a clause in the contract that allowed him to sell part of the land back to PULTE HOMES who in turn built 700 new houses on land that occupied 36 of the 54 holes.
Walters doubles his initial investment a few months before the beginning of a major housing bubble and homeowners/country club members were left with playing the same 18 holes over and over again while at the same time living in houses that were underwater.
I worked as a golf instructor there. Long story short homeowners in the community called Stallion Mtn. were offered a lifetime membership to play the three courses for a one time fee of $30,000.
Fast forward to 2006 and Walters claims the golf industry is in decline and opts for a clause in the contract that allowed him to sell part of the land back to PULTE HOMES who in turn built 700 new houses on land that occupied 36 of the 54 holes.
Walters doubles his initial investment a few months before the beginning of a major housing bubble and homeowners/country club members were left with playing the same 18 holes over and over again while at the same time living in houses that were underwater.
0
Don't believe the Billy Walters hype. He wisely got rich off his multiple investments, not his sports betting acumen.
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