$550 Million Dollars and a Beach House

What an exciting day!  Today is the day I win the $550 million dollar Powerball lottery.  I know I know it's a completely imprudent purchase and HIGHLY unlikely event, but really the dreams you get to dream are well worth a small outlay of your play money in my humble opinion.  What'll I do if I win?  After the initial lawyering up and quitting my job, probably not too much.  I'll probably buy a comfy piece of furniture upon which I can read lots of books and install a heater for our pool.  Then I can see to the appropriate charitable giving.

In news that actually could happen, I've been approached about a real estate deal with a good friend and mentor.  I know I previously discussed the downsides of going in with a partner, but this partner is far more wealthy than I so I have far fewer concerns about his financial status now and moving forward.  This opportunity involves buying a 25% share in a beach house.  The upside to this is that the house is far nicer than anything I could afford on my own, and it's at the beach (where my family loves to go).  The 25% share should work out to be about the same cost as the properties I was looking at locally as a rental for graduate students.  It's just a matter of doing all the due diligence.  I've already seen the P and L on the property, and it looks promising.  This might be just the right property to get my feet wet (pun intended).

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