SAE house foreclosur

Some alum has 4.5 million to throw at the house? They need more than just an alum to help. Sorry- anyone investing that much money is going to take their time to make that decision.
Fact is, SAE has dues issues and an alum is going to think hard before fronting money as an investment.

Dude was calling other fraternities last year asking for interest in moving in or buying that property. SAE gonna need a miracle or fall to mid in a year.

July 31 is the sale date. I PROMISE you the SAE alumni will step up. Either their national or their local. SAE will not be homeless.

If Sae nationals were going to help, prob should’ve stepped up last year when the owner of the property was calling every other fraternity asking if they wanted to move in.
This didn’t happen overnight.
SAE has great nationals- won’t be surprised to see them try something. But the fact is, the local fraternity was mismanaging their funds and this is going to be an issue.
Good luck-

Maybe no one will buy it on Friday. That apartment addition is too big and too cheaply built to be a good investment. The property does have valuable parking. Lease premium parking instead of rooms. If no one bids maybe it will work out best for SAE and they can stay where they are.

‘I Promise you, sae alumni will step up…’
Hahahahaha.

I don’t see sae or DX buying this property. Their hope is whoever does- most likely a property management company- will allow one of those groups to rent. Not great for sae, as their chapter finance issues caused the owner to foreclose… so they most likely will be out of luck.
DX would be in a better position to take over renting.

Good point and that is hard to fill without the crazy numbers they have. I think that’s why sae gives so many bids and I actually think they’d be better off without having so many guys.
But… where to move? If there was a better option, yeah get out of that lease. But it’ll take 3+ years to find and buy a property/build a house somewhere.

I never thought about it but honestly I think you’re right. SAE doesn’t need the financial burden. Tallahassee is lousy with student apartments, so why cripple your operation by making guys fill a house they don’t want to be in. Look at Theta Chi. They rent a small apartment complex in a great location and don’t have to take huge numbers.

They may have overestimated the rent/rooms of a house that size. So, I’m w you that something without as many rooms- like the other guys in that area have like KA, OX, Fiji, KS.
But they still need a house of some sort for the chapter for recruiting, etc.
It will be interesting to see what happens.

SAE signed an agreement with the owner of the property to support his investment in adding on the apartment/dorm style to thr back of that house. Probably a dumb idea to sign a document guaranteeing 64 sources of rent per yr, but a contract is a contract.
I think you’ll find another buyer will come in and make a deal with SAE at a lower occupancy rate. I mean, how many fraternities have the numbers for 64 guys to decide to live in the fraternity house???
I also think SAE needs to find a permanent home, if they can’t buy this house. Renting isn’t sufficient long term for any frat

Sae TRIED to buy it, but the university bought the property.

Stop lying, bro.
SAE didnt buy shiiii

Dude saying Sae bought it, straight up lies. Sae gonna be living in a university owned property. That’s not gonna last.

Ruling has nothing to do with SAE not being able to afford that house. Owner wants FSU to pay more.
SAE still gonna be in trouble either way-

The judge ruling against the sale actually puts SAE in a worse situation. The school would’ve let them live there for at least a while. Now, it’s still uncertain what the owner wants out of this bankruptcy ruling he filed 4 min before the foreclosure sale.
Sae needs to figure out a future fast.

Then why hasn’t sae done it? I agree with you, but something isn’t adding up why sae, with all their alum and nationals, haven’t bought a house or made any plans to do so.
I doubt that plan will happen anytime soon, being they are in such a bind right now financially.