Hi everyone,

As President of our very proud club, I often field some very interesting questions from members. Mainly Porsche related but from time to time I get that very inquisitive and almost secretive look from someone who asks, “How much money does the club have and what are we going to do with it?” The answer is usually very conservative and goes along the lines of “ not enough and save it for a rainy day”

But after giving that answer, time and time again it got me to thinking, what would “I” do with it, if it were sitting in my bank account? ………. Simple, leverage it and put it into real estate!

Now, I know that’s not everybody’s cup of tea, but in keeping with my earlier point, its conservative and safe. I started to think on, and as my mind started to wander I thought hey, why couldn’t we put it into real estate and why cant the club have its own clubhouse.

Now go with me on this one, I’m just thinking out loud but it’s “food for thought”

I assume some of our members hold golf club memberships. Some years ago I used to play the occasional game up near home at Castle Hill Country Club. I say play but truth be known, I used to swing it like an Axe! and after I’d hit the ball, God would guide it, so I wasn’t much chop! Anyway, what did intrigue me was the palatial clubhouse and facilities this club had, all paid for and funded by the members. I was never a member of the club, but had plenty of friends who where so I was invited along quite regularly to have a hit but never had to fork out what I thought as an exhourborent amount of money each year to firstly join, then maintain your membership.

What does this have to do with a Car Club and a Clubhouse? The first thing that came to mind was that most of the money raised through Golf Club membership is more than likely used to maintain the course and the grounds, Big Big money! And not really applicable to a car clubs grounds. The second thing I thought about was that members of this Golf Club seemed to treat their membership as some sort of investment and had ownership in the Club and the real estate. It was not only Club membership but perhaps held some sort of status

I started to piece together the picture and go through some simple figures in my head.

How would or could this work?

OK, we have roughly 700 members and a factory unit or industrial building in a relatively central position would be worth around $1,000,000.00 so that would give us a unit value of around $1400.00 each. Now I know not every club member wants to or has the means to throw $1400.00 into a car club, but I thought not everybody has to. Some may want simply to be associate or non shareholding members and some may want to have a much larger stake in the Investment, but without any advantage in voting rights due to the size or their “Shareholding”

With this approach the building could be paid for in cash, so no borrowed funds and no exposure to interest rate hikes etc. The property could be re valued once or even twice a year prior to our AGM, which would give members the information required, showing their members equity. If you wanted out, you simply list your membership for sale at the current value and either existing members take up your share or a new membership is applied for. However, any one member can hold no more than a pre determined shareholding.

Imaging our own clubhouse. We could have our administration all based in the one spot, we could return to having a full or part time administrator, based in the clubhouse. We could have our own archives and memorabilia. Perhaps install our own hoists for members use through a pre booking system. Special guests cars in the showroom our own PA, Audio and Visual system. Our own cooking and catering equipment allowing us to increase our technical and social gatherings “ all in our own facilities.

Our existing funds are left intact

Only one problem. The President at the time will still be fielding questions along the line’s off “How much money does the club have and what are we going to do with it?” Food for thought indeed.

On a completely different subject our club has finally received from Porsche Cars AG our “official Member Number” the great news is, that our club is in fact the thirtieth oldest Porsche Club in the world and our “Official Stamp” includes the number “30”. How good is that?

There are plenty of Social and competition events ahead of us this year so, as always, go on line book yourself in and come along and enjoy your club to the fullest.

Give some thought to the Club house idea, I’m just thinking out loud, but you never know, someday our club could have a palatial Clubhouse, just like Castle Hill Country Club.

Enjoy those cars!

Rob Annett

President PCNSW