Five Oaks going up for sale.

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novacaine
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Re: Five Oaks going up for sale.

Postby novacaine » Wed Feb 25, 2015 3:51 pm

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Re: Five Oaks going up for sale.

Postby mlj300 » Wed Feb 25, 2015 7:46 pm

Only Those Born & Raised in Nort East Mississippi Will Know Exactly What i MeanTo Those Set Adrift Amidst BrokeDick Rednecks,Radical Pentecostalism,Moonshine Bootleggers and PusserMania,There are Two Kings to Choose From-Elvis or Jesus.
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Re: Five Oaks going up for sale.

Postby mlj300 » Wed Feb 25, 2015 7:57 pm

Only Those Born & Raised in Nort East Mississippi Will Know Exactly What i MeanTo Those Set Adrift Amidst BrokeDick Rednecks,Radical Pentecostalism,Moonshine Bootleggers and PusserMania,There are Two Kings to Choose From-Elvis or Jesus.
-Jimbo Mathus
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Re: Five Oaks going up for sale.

Postby Wildfowler » Thu Feb 26, 2015 6:39 am

driven every kind of rig that's ever been made, driven the backroads so I wouldn't get weighed. - Lowell George
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Re: Five Oaks going up for sale.

Postby pondman » Thu Feb 26, 2015 6:43 am

If I'm understanding it right, he and his sister (who sounds like a real piece of work) owned the property together. Basically all he had to do was buy her out. The rest of the bidders had to buy him AND his sister out. I believe the reason it went to auction is because that was the only way the sister thought she would get a fair price for her half.

Basically she was willing to sacrifice the family farm to make sure she got maximum dollars.

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Re: Five Oaks going up for sale.

Postby mlj300 » Thu Feb 26, 2015 7:55 am

Only Those Born & Raised in Nort East Mississippi Will Know Exactly What i MeanTo Those Set Adrift Amidst BrokeDick Rednecks,Radical Pentecostalism,Moonshine Bootleggers and PusserMania,There are Two Kings to Choose From-Elvis or Jesus.
-Jimbo Mathus
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Re: Five Oaks going up for sale.

Postby mlj300 » Thu Feb 26, 2015 7:56 am

Only Those Born & Raised in Nort East Mississippi Will Know Exactly What i MeanTo Those Set Adrift Amidst BrokeDick Rednecks,Radical Pentecostalism,Moonshine Bootleggers and PusserMania,There are Two Kings to Choose From-Elvis or Jesus.
-Jimbo Mathus
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Wildfowler
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Re: Five Oaks going up for sale.

Postby Wildfowler » Thu Feb 26, 2015 8:10 am

So I guess this means he wrote a check for 84 million to his sister? So he now owns the whole place and paid 84 million for it? Wow!

I still don't understand the 42 million part but I guess this is the answer above? I guess I had one too many fishbowl margaritas last night and my head is still not on straight this morning.
driven every kind of rig that's ever been made, driven the backroads so I wouldn't get weighed. - Lowell George
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Re: Five Oaks going up for sale.

Postby SkippyJ » Thu Feb 26, 2015 8:11 am

Word I got from a friend up there was Dunklin and a "investor" for 85 mil.
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Re: Five Oaks going up for sale.

Postby YazooValley » Thu Feb 26, 2015 8:31 am

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Wildfowler
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Re: Five Oaks going up for sale.

Postby Wildfowler » Thu Feb 26, 2015 9:56 am

Thanks for dumbing down for me. :lol:

So he did receive proceeds at the closing. Did not pay 84 million for half of the property, he paid 84 million for all of the property.
driven every kind of rig that's ever been made, driven the backroads so I wouldn't get weighed. - Lowell George
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Re: Five Oaks going up for sale.

Postby Ole Goat » Thu Feb 26, 2015 10:45 am

and now he also has potentially up to $42 million of gain to account for to our friends in Washington
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Re: Five Oaks going up for sale.

Postby mlj300 » Thu Feb 26, 2015 2:27 pm

Only Those Born & Raised in Nort East Mississippi Will Know Exactly What i MeanTo Those Set Adrift Amidst BrokeDick Rednecks,Radical Pentecostalism,Moonshine Bootleggers and PusserMania,There are Two Kings to Choose From-Elvis or Jesus.
-Jimbo Mathus

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