Blake's Take on Real Estate
Happy Thursday!
Many years ago I was sitting across the table from a couple who had split a more than $180 million dollar lottery win with 2 other people/groups who also had the winning numbers. The couple I was speaking with had gone from reasonable successes, hard work to exceptional good fortune winning over $62 million, which at that time the only option was what I recall as a 26 year payout before taxes. They had no children of their own and were very modest (almost embarrassed) by their unbelievable luck as it wasn’t like they invested thousands into buying tickets. The jackpot was large for the time so they bought into it. At last report through a mutual connection, that couple is still living modestly and enjoying life without a lot of publicity or negative energy around them.
It took me back to a California lotto drawing of more than $150 million years before. I had 4 numbers plus the bonus number. I had visions of winning thousands which I thought was exciting way back in the day. It turned out I was paid just a disappointing $55 at Casa De Liquor in Yorba Linda, and I confirmed that they paid me exactly what I had won….so I played 1 set of numbers for each of the drawings for the next 20 years…..and pretty much broke even. Then just before the pandemic one drawing paid me $625, and any amount over $599 or $600 and above has to be paid by the lottery commission…I mailed my ticket in and stopped while I was slightly ahead. When the lotto goes over the top, Joanne and I might buy 1 or two tickets, but overall it’s not how we want to think about getting a better retirement…..as that will come from the hard work we are all putting into building the mission and purpose of Realty Pro 100 and Pro Escrow, our non-independent broker escrow.
This takes me to the story of Marie Holmes, as I was reading last week about her $188 million win back in 2015 and the idea that she mismanaged her finances and now has virtually nothing left of her massive win. She invested $15 to win, and it’s really heartbreaking to learn of her trending fate. Instead of building wealth, she has squandered a lot of her great fortune and actually could run out of money leaving nothing for her four children which she has raised basically on her own as a single mom……… https://www.mylottoguide.com/lottery-winners/marie-holmes-lottery-winner/
Since most of us are not going to win the lotto, we can focus on a real strategy of wealth building which will be showcased this coming several weeks……first with Alton Moore, CPA/Trust/Probate attorney this morning….as I always advise anyone getting ready to buy or sell investment property to seek their free consultation with Alton…… alton@evolutiontaxlegal.com . He is extremely professional and nice to work with. I can say every time I contact him he is fantastic to work with and for our clients does an amazing job too. Everyone who we have referred to Alton has come back saying they learned a lot and were glad to have the experience.
Then on the 1st of March, the all new revised ‘Rapid Equity Builder’ presentation for the industry and our clients – a first time ever ‘lunch and learn’ for the Rapid Equity Builder series of events– please RSVP as we are ordering a special lunch and we want to make sure there is enough for everyone……plus we have handouts we want to be sure to have enough on hand, but not be wasteful. Please RSVP to info@realtypro100.com. and most importantly if you register please show up, as there is limited space, so if you RSVP and don’t show you might be denying someone else the opportunity. Thank you.
TODAY:
8:20 AM: THE BOOK CLUB – ‘EXACTLY WHAT TO SAY FOR REALTORS’ AVAILABLE BY CALL IN BUT NOT ZOOM.
8:58 AM: PROFESSIONAL GROWTH SERIES – 'Performance Never Goes Out of Style'. AVAILABLE BY CALL IN AND ZOOM.
FOLLOWED BY THE JOURNEY TO 10 – 10:10 AM UNTIL 10:45 AM……AVAILABLE BY CALL IN BUT NOT ZOOM.
FOR ALL MEETINGS:
Zoom Meeting Link: https://zoom.us/j/887093873?pwd=T1RDbi9Yai9FY3VxOEZ4N2VMbG1wQT09
Or Call – 1-669-900-9128 to dial in!
Meeting ID: 887 093 873
Passcode: 863925
Make it a great day.
