Looking Out From the Garage: A little sociology experiment (and $100,000.00)

I would invest 70% of the money with The Vizion Group and allow them to invest it in flipping properites.  With the other 30%  I would first pay off the rest of my student loan debt and then stash the rest in a variety of investments gold, silver and Swiss Francs. Thanks for the short dream session.

Pay off my son's mortgage and then move in with him. He would have to let me live with them and I could play with my grandson everyday.

Well I would do several things, pay for my younger 2 kids college and put some back for retirement. You see, we are only 10 years away and have VERY little saved. With 5 kids it was hard to save.

I would pay down some of the equity lines on my rental properties that I used to buy other rental properties.  That way I would be positive on the cashflow instead of negative.

P.S.  Are you SURE this is hypothetical???  If I win, do I get the 100k???

I would pay off all my bills, and with what was left overI would use it to start buying and fixing up properties, starting with one and then go on. I know this dosent sound too exciting but thats my final answer---Bart

Realistically.... It'd depend on our situation at the time of the funds.  Like if I got it tomorrow?

I'd use it for my son.  He's 5 years old and autistic.  They are threatening to kick him out of the public school system because he can't function well enough.  In the meantime, he's on a wait for special ed.  And we've been on a waiting list for 1 1/2 years with 5 more months to go to see the only person here that handles autism, medical-wise.  He has expensive medicines and therapies aren't covered, not that it matters as there is practically noone here that knows any therapy.

So the money would go to: A surgery he needs that insurance doesn't fully cover and requires going out of town, finding a good autism research center (coverage wouldn't matter with cash!), and getting him seen wherever that is, and hiring a paraeducator to work with him at school so that he can stay in school and learn without constant threat of expulsion. 

If the money came in another year, we'd likely use that to move somewhere that had better autism services so that it wasn't a constant battle to find what he needs.  But even 100k wouldn't enable us to do that right now.

thanks for the mental exercise! It was difficult to seriously think about it without a flippant "Oh I need a new car or a boob job" response.  But if someone flat out handed me the check, I think this is what I'd earmark it for.  The frustration and stress and anxiety of watching him struggle so hard through his life due to lack of services and funds, it's just so hard. 

There is only one answer for me:

When I was young, I found my father's year book in his closet.  In the year book under his picture and by his name is this quote from my dad: 

"I want to be a millionaire". 

My dream has always been to make Dad's dream come true.

Please disregard the above comment, due to the fact, I thought there were more zeros.  :)

(I would still give the money to my father...)

I would buy a loft in Denver and board my horses for the winter.

I'd actually donate all the money to Fisher House in my husbands name.   Fisher House is an organziation that assists families of wounded soliders in hospitals around the US.  The organization is a lifeline for families and keeps families in a home environment during the trying times of rehab, surgery or worse. 

Lane,

I would give the money to my wife and let her tell me what to do with it.  Or better yet, I would let her do with it as she pleased.  You know, if momma ain't happy anin't nobody happy!!

Lane - This is an easy answer for me. 18 months ago I decided that it was time to leave Century21 and find a world that was less encumbered, and where I could keep a lot more of the money that I had earned. I put together several business models, and they all cost a lot of money. What I really wanted was a team of people who all had similar goals, so that I could use my 26 years of management experience and improve my market share, as well as take more time off.

Sounds like a big dream right. After a lot of research, I found out that Keller Williams not only supports that type of dream, they promote it. From the very first book that was written (the millionaire real estate agent), to all of the current training materials, Keller Williams as a company is designed to help realtors become team leaders if they want to.

Some people are not comfortable with a leadership role. I don't have a problem with it.

I would keep the 100k in reserve and start a team at the best Keller Williams office in the area.

Don - LOL!! Too true!

Sorry for the delay.  I'm going to toss out my answer, and then I am going to watch the Thrashers and Sabres (sec. 120, Row D right behind the attack twice goal on the aisle if you are at the game).  I'll be back to answer comments later tonight. 

When I was asked this question, I said that I would start one or two businesses.  I actually had a business plan for one of them in the Jeep.  The other was an idea I was kicking around.  The business plan I had in the Jeep was for a photo lab.  I was kicking around a 4 Wheel Drive shop. 

Keep in mind that this was 15 years ago. 

I'll be bach...

I would buy the land that I have my eye on to build Durham's House of Hope...a home for 100 sexually abused children. GBU!

I don't think it would help to talk about every thought expressed here individually.  But, I will give the back story... 

I used to work with a guy that was "somewhat" wealthy.  He was in a "men's group" that met every other week to just talk.  It was their therapy.  All of the guys were divorced, having issues with it and very open with each other.  On a few occasions, I was invited into the group (although not divorced then...). 

One afternoon, they had an extra ticket a Braves game.  We had done some work in the morning, and one of the guys couldn't make the game so I got the ticket to the suite in his place. 

Each of the guys was successful in a different arena.

So, after the game was dinner.  One of the guys hosted.  We grilled... there was beer (I don't actually drink it, but it was there).  And that was the question of the day.  What would you do with $100k?  There was an additional ground rule...  You don't have debt or assets. 

Each of these guys said almost the same thing.  They would use the money to start a business.  The business varied, but the plan was the same.  Several of them had also done it... some on much less than $100k, and others were trust fund babies. 

But each used the same justification... the business would buy whatever else they might desire... if they waited for it to mature. 

Sometime I might write about what each of them said they wanted to accomplish.  That was a pretty cool session, too.

Lane, this was a very interesting exercise and interesting to see everyone's answers.  Owning a business is as important to the American dream as owning a home.

Lisa - I agree.  But, not everyone has the temperment.

I would like to by probate and foreclosures properties which doesn't seem to be to complicated. I don't want to be rich just happy with my husband of 32 years. I would like to teach my daughters to invest in real-estate so they could give our grandkids a brighter future also!

                                                                                      Little Dreamer! ( Our Do Dreams Really Come True?)

                                                                                                                    THANKS!

Sherry - Probate properties can be a SERIOUS time consumer... with not that many profit opportunities.  There are some, but it takes a lot of work to find them.