$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).