SoCal Jet Boats
Discussion => Lower River => Topic started by: River Dad on December 29, 2017, 01:41:46 PM
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Thinking of buying a place in Big River. I know the master lease expires in 2029 so its a little bit of a gamble... Anybody have info on this area or how the lease deal works? I would be a little skeptical to invest big money into something that may go away in 11 years....
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Thinking of buying a place in Big River. I know the master lease expires in 2029 so its a little bit of a gamble... Anybody have info on this area or how the lease deal works? I would be a little skeptical to invest big money into something that may go away in 11 years....
It’s definitely a gamble when you’re talking about negotiating with C.R.I.T. for land lease deals.
We are in Big River and love it but it’s definitely something in the back of our minds. It’s likely the Indians will renew and all is well but they’re very unpredictable too.
I think you’re kind of answering your own question if your gut is already hesitant.
Unless it’s an unheard of deal where it’s worth the risk I probably wouldn’t be dropping a bunch of coin into an investment you might not have in a decade or two.
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My parents and Grandma have property but have had it for a while. There is speculation the the big river land falls under the BLM property. Which the state says they own
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I love that area of the river and don't mind shallow water, keeps the big boats off!!!
There have been a few lawsuits contesting the boundaries of the reservation, but all my research shows the border has been upheld since the sec of the interior set it in the 60's... my feeling is it will renew, I can't see them wanting to put in a casino..... I cant imagine Blue Water Casino 2 miles away is taking in cash.....
My only fear is if they will renew the lease with the current holders or reclaim the property and then "re sell" the property with the new leasrs....
I would have no problem paying a high lease rate, I just don't want to have to "re buy" my own hoise....lol
I try to look at it like what is the worst case scenario.... if I could throw a mobile home on it I wouldn't mind but building a stick built is a huge investment...
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There’s a couple of listings. Are these land leases or ownership? Here is one from Zillow: https://www.zillow.com/homedetails/5765-Hanemo-Dr-Big-River-Ca-CA-92242/2097618017_zpid
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There’s a couple of listings. Are land leases or ownership? Here is one from Zillow: https://www.zillow.com/homedetails/5765-Hanemo-Dr-Big-River-Ca-CA-92242/2097618017_zpid
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I read into the listing more and answered my own question. Under "Lot Description" it says "Long Term Lease". That answers why its so cheap. Financing probably next to impossible.
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Yes it is Land Lease under the CRIT reservation and thru Big River Development Company. Loans are impossible so it must be all cash.... I know there is theory that the state owns the property but from what I understand they have lost that battle before in court and the original boundry from the 60's has been upheld...
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Yes it is Land Lease under the CRIT reservation and thru Big River Development Company. Loans are impossible so it must be all cash.... I know there is theory that the state owns the property but from what I understand they have lost that battle before in court and the original boundry from the 60's has been upheld...
This is disappointing. but i don't see the indians not renewing the lease(maybe not another 100yrs). Bluewater was in the red for so long and they cannot do what they did in parker in big river. I know that if the indians don't renew i foresee a lot of places along the river "catching fire"
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River Dad. Are you over Willow valley?
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We have a mobile in Big River and my pop just went through the lease documentation a while back. He did have a conversation with the leasing folks and was told there would be no reason for the lease to not be renewed, but you know what they say.
The way the "tax' structures is pretty interesting, so you will want to look at that very carefully.
I'll ask him what the risks are and get back here...
Take care dude..
GT
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Hey Lets Dance, not over Willow at all... I'll always have that place in the family... besides, it on the "GOOD" side of the river and the way CA is going, I can't get an AZ DL soon enough..LOL
Hey GT, how are ya? Yeah the tax issue is a little sketchy. I always thought that county could not touch anything on tribal lands but if you look up the tax records through the county website they all do..... Not sure if it's just the value of the improvements on the property, or the land itself?? I would think the leases will renew, I think that is major source of income for the tribe... My fear is will they just renew with the existing leaseholders or will they repossess the property and then "re sell" it on the open market.. I'm not really interested in getting in a bidding war with somebody on my own river house that I built!! lol
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River Dad. That's cool to hear, I thought of you last time I was there. My buddy is a couple House's from you. I go a couple times a month. If I see you out there I will stop buy and introduce myself. Talk to you soon, Steve.
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Hey Lets Dance, not over Willow at all... I'll always have that place in the family... besides, it on the "GOOD" side of the river and the way CA is going, I can't get an AZ DL soon enough..LOL
Hey GT, how are ya? Yeah the tax issue is a little sketchy. I always thought that county could not touch anything on tribal lands but if you look up the tax records through the county website they all do..... Not sure if it's just the value of the improvements on the property, or the land itself?? I would think the leases will renew, I think that is major source of income for the tribe... My fear is will they just renew with the existing leaseholders or will they repossess the property and then "re sell" it on the open market.. I'm not really interested in getting in a bidding war with somebody on my own river house that I built!! lol
It's my understanding that the improvements are taxed. My dad seems to think it's the addition of utilities as well. It is taxed due to the infrastructure...
GT