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Indoor Arena Saga: More of the story.

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Last activity 2019-02-21 1:06 PM
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FinneyQuarterHorses
Reg. Mar 2012
Posted 2019-02-10 4:08 PM
Subject: Indoor Arena Saga: More of the story.


Elite Veteran


Posts: 961
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I'll make this the Readers Digest Version:

Thought our ranch was sold, put a contract on an arena in Okemah, OK. Buyer's financing didn't come through. We let our contract expire, and it sold immediately to a hunter/jumper lady who doesn't let anyone use it.

Put our place under contract again with a cash buyer, put a contract on an arena at Madrid, NE, came within a week of closing and the city council decided that since it was within a mile of the well head for the town, we couldn't really have the livestock we needed to do anything, including our own horses, despite what the realtor and owners had assured us. Had to back out of the contract since we could not do a 1031 if it wasn't going to be a business, got threatened with a lawsuit by the owner, had a councilman that we had paid $12,000 for the neighboring acreage keep $2000 "for his trouble", and found ourselves without a place to put 20 head of horses.

By that time our time frame was getting short for the 1031 exchange, so without finding another suitable property, we settled and bought a golf course with an additional 20 acres that seemed perfect to put an indoor arena, which we were very clear about when we signed the contract. The 20 acres was also billed as land for housing lots along the course if we so desired, again by the realtor and owners. I should have learned my lesson by now, because in reality, not only can we not sell lots, we can't put up an arena with living quarters if our son, who is going to run the course, wants to put up a house, because in Osage County Kansas, to "keep the trailer house trash out" )yes, they went there, the county commissioners and Land Planning Committee were limiting houses to one every 40 acres. So we are selling the 20acres.

So, now, we are renting an indoor arena in south central Kansas for a short amount of time till the worst of the winter gets over and until we find another opportunity we can hopefully at least have a nice outdoor people can use. Since it doesn't have any outdoor space we can use, We spend our days cleaning stalls, buying expensive shavings, and not getting any horses ridden or sold. Oh, and paying $2500/month rent for the privilege without the option of offsetting the cost by letting others use the arena, oh, an I forgot, from a d*ckhead owner (sorry that sounds bad, but the truth hurts).

Im starting to think what started out as a way to not only make a living but make a difference, is not in our future. Right now, I'd be satisfied with my own house lol.

So, in conclusion, if anyone who reads this has any ideas, I would love to hear them. There are a couple of million dollar places out there, but after the golf course purchase,that is not going to happen. We are open to renting, trading rent for labor (we are both lifelong ranchers, but Im not into the stable girl thing), or purchasing a place if the right one comes along, which has to be in Oklahoma or Kansas. Or if anyone wants all my horses, I'll just go to Hawaii.

All I can say is we tried. It would have been fun.
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RocketPilot
Reg. Jun 2006
Posted 2019-02-10 5:11 PM
Subject: RE: Indoor Arena Saga: More of the story.



No Tune in a Bucket


Posts: 2820
2000500100100100
Location: Texas
 I can't help you but your level of frustration has to be off the chart.  Hope you find a great place soon.
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treasurehunter
Reg. Sep 2007
Posted 2019-02-10 6:02 PM
Subject: RE: Indoor Arena Saga: More of the story.



Scooters Savior


1000500100100100100
Location: "Si Fi" Ville
Someone built a nice indoor arena complex in Alexandria La and now it’s just sitting... for sale.
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rodeomom3
Reg. Dec 2007
Posted 2019-02-10 6:37 PM
Subject: RE: Indoor Arena Saga: More of the story.



Shelter Dog Lover


Posts: 10277
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You need a good realtor working for you to clarify these issues before you buy, they  can be held responsible.

Edited by rodeomom3 2019-02-11 6:20 AM
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vjls
Reg. Mar 2005
Posted 2019-02-10 7:17 PM
Subject: RE: Indoor Arena Saga: More of the story.


Miracle in the Making


Posts: 3071
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 i understand your pain i am in a lawsuit right now . realators are not your friend weather they are yours or theirs  pay a real estate lawyer to look at any contract.

all they care about is the dollars.  


 
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Turnburnsis
Reg. Nov 2004
Posted 2019-02-11 6:57 AM
Subject: RE: Indoor Arena Saga: More of the story.


Elite Veteran


Posts: 994
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Location: Oklahoma
Oh Wow! Why cant things be simple? on my selfish part I hate that Okemah didn't work out. I'm not too far and its always nice to have places close to ya! Hoping it turns out whatever you end up with was 100x better than the places that didn't work out!
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FinneyQuarterHorses
Reg. Mar 2012
Posted 2019-02-11 7:50 AM
Subject: RE: Indoor Arena Saga: More of the story.


Elite Veteran


Posts: 961
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That place was really nice, the house was more than we needed, but I'm sure we could have adjusted :) Water under the bridge now.
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lindseylou2290
Reg. Aug 2013
Posted 2019-02-11 12:32 PM
Subject: RE: Indoor Arena Saga: More of the story.



Expert


Posts: 2452
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I have totally been in your shoes with a 1031 ... it sucks when well laid plans don't work out.

I see you're in South Central KS - there are some killer horse set ups for sale up by Lawrence, Tonganoxie, and further back west from there. Hope it all works out for you guys!
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BS Hauler
Reg. Jan 2012
Posted 2019-02-11 12:35 PM
Subject: RE: Indoor Arena Saga: More of the story.



Elite Veteran


Posts: 1061
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Location: North Central Iowa Land of white frozen grass
I know its too late but for anyone else in this situation is to have the new place locked in before you sell the old one.  What about buying bare land and building from scratch.
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clover girl
Reg. Dec 2005
Posted 2019-02-11 2:28 PM
Subject: RE: Indoor Arena Saga: More of the story.



The Worst Seller Ever


Posts: 4135
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Location: Oklahoma
There is a super cool place in Guthrie about 5 miles from Lazy E that just went up for sale...

I am also sad Okemah didn't work out.  :
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BFN
Reg. Sep 2015
Posted 2019-02-12 9:02 AM
Subject: RE: Indoor Arena Saga: More of the story.


Veteran


Posts: 237
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We have a nice little "Slice of Heaven" on 13 acres about 7 miles SW of Ada, Oklahoma that we are going to list for sale soon. It is a 3/2 brick ranch home. Our timeframe to move is flexible...if it might be something you are interested in, feel free to PM me. Sorry to hear about the trouble you and your horses have had...it has to be really frustrating.

Edited by BFN 2019-02-12 9:45 AM
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FinneyQuarterHorses
Reg. Mar 2012
Posted 2019-02-15 4:41 PM
Subject: RE: Indoor Arena Saga: More of the story.


Elite Veteran


Posts: 961
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For a few minutes I might have enough internet to type a reply. Thank you everyone for your thoughts. We have two weeks before move out of the arena we are renting so things are getting a little nerve wracking. We have found a place with boarding/rental potential if we can convince the banker to take a chance on blue sky, and I've told him rentals are impossible to find, but I believe there are good people out there who would take good care of things. I did tell him that a small house/apartment with a couple of stalls w/runs and use of the facilities including an outdoor arena, small indoor, and a track could generate $1000-$1250/mo depending on how nice it was. Do any of you have a thought on if that is a good estimate? I know we are paying $2500/month for the indoor with only stalls and a little cabin thing temporarily.

Edited by FinneyQuarterHorses 2019-02-15 4:42 PM
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FinneyQuarterHorses
Reg. Mar 2012
Posted 2019-02-15 4:43 PM
Subject: RE: Indoor Arena Saga: More of the story.


Elite Veteran


Posts: 961
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I looked at the one by Guthrie but the arenas were too small for us, but it was a really neat place if someone wanted some other kind of business.

Edited by FinneyQuarterHorses 2019-02-15 4:45 PM
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FinneyQuarterHorses
Reg. Mar 2012
Posted 2019-02-15 4:45 PM
Subject: RE: Indoor Arena Saga: More of the story.


Elite Veteran


Posts: 961
5001001001001002525
BFN - 2019-02-12 9:02 AM

We have a nice little "Slice of Heaven" on 13 acres about 7 miles SW of Ada, Oklahoma that we are going to list for sale soon. It is a 3/2 brick ranch home. Our timeframe to move is flexible...if it might be something you are interested in, feel free to PM me. Sorry to hear about the trouble you and your horses have had...it has to be really frustrating.

We need something that is "income producing" and not just a home. But thank you.
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FinneyQuarterHorses
Reg. Mar 2012
Posted 2019-02-15 4:47 PM
Subject: RE: Indoor Arena Saga: More of the story.


Elite Veteran


Posts: 961
5001001001001002525
lindseylou2290 - 2019-02-11 12:32 PM

I have totally been in your shoes with a 1031 ... it sucks when well laid plans don't work out.

I see you're in South Central KS - there are some killer horse set ups for sale up by Lawrence, Tonganoxie, and further back west from there. Hope it all works out for you guys!

Im starting to think Kansas is just too dang cold. And the taxes are killer up there.
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FinneyQuarterHorses
Reg. Mar 2012
Posted 2019-02-15 4:50 PM
Subject: RE: Indoor Arena Saga: More of the story.


Elite Veteran


Posts: 961
5001001001001002525
rodeomom3 - 2019-02-10 6:37 PM

You need a good realtor working for you to clarify these issues before you buy, they Β can be held responsible.

I do have one now in Oklahoma. She helped us sell a property down here and has all her ducks in a row. We were advised to report the incident in Madrid, but it just didn't seem worth it. I should have done the leg work myself.
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FinneyQuarterHorses
Reg. Mar 2012
Posted 2019-02-15 4:51 PM
Subject: RE: Indoor Arena Saga: More of the story.


Elite Veteran


Posts: 961
5001001001001002525
BS Hauler - 2019-02-11 12:35 PM

I know its too late but for anyone else in this situation is to have the new place locked in before you sell the old one.Β  What about buying bare land and building from scratch.

Just the time frame we are working with, and the unexpected costs associated with building up a property is not something I want to tackle nowadays.
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lhighquality
Reg. Apr 2013
Posted 2019-02-20 2:46 PM
Subject: RE: Indoor Arena Saga: More of the story.


Elite Veteran


Posts: 915
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Location: SE KS

Riverbend Arena in Inola, OK is going on the Auction Block on March 28!!!

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shaunar
Reg. Oct 2003
Posted 2019-02-21 12:18 PM
Subject: RE: Indoor Arena Saga: More of the story.



Expert


Posts: 1334
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Location: Oklahoma

lhighquality - 2019-02-20 2:46 PM


Riverbend Arena in Inola, OK is going on the Auction Block on March 28!!!


Yes, it is going to be auctioned by Williamsauction.com.  It is a wonderful facility with indoor and outdoor arenas and some stalls.  I understand that it includes 85 acres and there will be NO RESERVE!

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RoughstockKennel
Reg. Oct 2011
Posted 2019-02-21 1:06 PM
Subject: RE: Indoor Arena Saga: More of the story.





100
Location: Choctaw, OK

There's also a place in tuttle with a gorgeous show barn and nice indoor for sale in tuttle, ok

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