Forum: HoseHeads Sprint Car General Forum (go)
Moderators: dirtonly  /  dmantx  /  hosehead

I think the smaller fields were because of a few different factors. First off, I don't think the Rubins really had another source of income so the track had to be self sustaining. I don't think they had the means or the will to increase payouts. Second, the track can be tough on equipment, it's kind of narrow and has concrete walls all around it. It's not very forgiving if you make a mistake. Third, it's all rumors but I have heard that the Rubins pissed off a lot of drivers and owners over the years. Many quit coming to the track. Fourth, they lost the plot on track prep. It used to be that Husets would widen out and have two grooves and racing was awesome. Somewhere along the line they had to run the beer grader after the heat races every race. If they didn't it was just single file, follow the leader. 

I don't say any of this to bad mouth the Rubins. I have met Steve a handful of times and he seems like a really nice guy. I think they did their best with the track and they had a really good run for a long time. It was time for a change and it's too bad Chuck got his hands on it. Now that Tod owns it I think it will return to it's glory days. Can't wait to get back out there.

I'll go with 44 410's. 17 street stocks.

And yes the Rubins drove a lot of racers away from the place. 

Minnehaha county property sales were just published in the Brandon Journal 

Selling price was 4.375 million dollars. I think Chuckles got his tax write off!

Minnehaha county property sales were just published in the Brandon Journal 

Selling price was 4.375 million dollars. I think Chuckles got his tax write off!

I don't think you understand tax write-offs.

https://www.youtube.com/watch?v=XEL65gywwHQ

I am not familiar with real estate depreciation , capital gains and recapture of depreciation, but I would think that if you buy a piece of property for 2.5mil, supposedly spend 10+million on improvements, then sell it for 4.4million, you will pay less in taxes.

     Sorry. I didn't mean to sound snarky. Subconsiouly I think I was replying to the last 100 people who somehow thought chuck was going to make money by selling at a loss due to a "tax write-off".

     There are a lot of variables involved, but an example would be something like this: *If* I bought a race track for $2.5 mil, added $10 mil in improvements, then sold it for $4.375 mil, I would have lost $8.125 million. I may be able to *save* the amount of taxes I would pay on $8.125 mil. $8.125 x 36%= $2.925 million *tax write-off*. IN order to get that $2.925 mil, all I have to do is lose $8.125 mil to srart with.

     Sorry. I didn't mean to sound snarky. Subconsiouly I think I was replying to the last 100 people who somehow thought chuck was going to make money by selling at a loss due to a "tax write-off".

     There are a lot of variables involved, but an example would be something like this: *If* I bought a race track for $2.5 mil, added $10 mil in improvements, then sold it for $4.375 mil, I would have lost $8.125 million. I may be able to *save* the amount of taxes I would pay on $8.125 mil. $8.125 x 36%= $2.925 million *tax write-off*. IN order to get that $2.925 mil, all I have to do is lose $8.125 mil to srart with.

I still think husets and Badlands pawn were some sort of money laundering front. Did he really spend 10 million on the track and 30 million on the pawn shop? Perhaps, but I don't think there was that much work done to either facility. So you spend $10 million on the track for work that was worth $5 million. The recepient of the money now has an additional 5 million in clean money that could be used for God knows what. It was weird how construction went on the track, the had like 6 different electricians on the job. The company that installed the bleachers came in to buy stuff from me daily during the install, it was all paid for with a credit card from dollar loan center. Pretty much all of the contractors had free suites at the pawn shop and race track. Then apparently Deuce Stayley or whoever from Kiss was an investor. The whole thing was fishy AF in my opinion.

I was trying to be funny!

Did you watch the video?

I still think husets and Badlands pawn were some sort of money laundering front. Did he really spend 10 million on the track and 30 million on the pawn shop? Perhaps, but I don't think there was that much work done to either facility. So you spend $10 million on the track for work that was worth $5 million. The recepient of the money now has an additional 5 million in clean money that could be used for God knows what. It was weird how construction went on the track, the had like 6 different electricians on the job. The company that installed the bleachers came in to buy stuff from me daily during the install, it was all paid for with a credit card from dollar loan center. Pretty much all of the contractors had free suites at the pawn shop and race track. Then apparently Deuce Stayley or whoever from Kiss was an investor. The whole thing was fishy AF in my opinion.