3 Totally Idiotic Ways to Blow Your Real Estate Investment Earnings

As it turns out, success can prove to be a very alluring temptress.

To become successful in the real estate investing business typically takes a lot of determination, commitment, and hard work. A lot of long hours have to be put in and many thankless tasks have to be performed before one achieves the kind of financial freedom for which many people get into this business.

For those who are fortunate enough to achieve a high degree of success -- for our purposes at the moment, let's say that means making a boatload of money -- the temptation can be to develop the mindset that they've "made it." 

Even someone with a good head on his or her shoulders can be tempted by this fallacy, even though the truth is that one should be socking plenty away to absorb the bumps in the road that a long career in real estate investing can provide. To put it more simply (and bluntly), it's easy if you aren't careful to get downright stupid with how you spend your money.

Just for kicks, your favorite Memphis real estate professionals have compiled a short "don't try this at home" list of ill-advised ways to blow your investment earnings. And though they do all sound like fun, just say no, people. Just. Say. No.

1. Buy your kids braces made from solid gold.

Sure, orthodontic work can be expensive, but if you want it to be crazy-expensive, nothing says "I've arrived" like spending a ludicrous amount of money on bling for your children's chompers.

"But what if my kids don't need braces?" you ask? Nonsense. They don't "need" that diamond-studded or ruby-encrusted iPod you're going to get for them, either, but you're not letting that stop you.

2. Forget luxury cars and go with a jetpack.

No, we're not kidding. Believe it or not, there are a number of different personal flying devices in development. Take, for instance, the Martin jetpack. The company is looking to have a version ready for private citizens available in mid-2014. This bad boy looks to cost around 100 grand, which makes it no more expensive than many luxury cars. You can keep your stretch Escalade and Porsche 911; I'll take my joyrides in the sky, thank you very much.

Just as soon as I watch a few other people try it first and make sure they don't meet their fiery demise.

3. Personal Fine Dining Delivery Service

Okay, so this is getting pretty pie-in-the-sky here (literally so, if you like), but that's kind of the point of this list. Hire a pilot whose sole job is to procure you any meal -- from anywhere in the world -- at a moment's notice. Want fresh sushi-grade tuna -- from Tokyo? No problem! The highly trained, experienced pilot that you're turning into the world's best-paid delivery driver can get that for you, no problem! Pastries made in France only hours earlier? You got it! Sure, your bank account will go from Trump to chump in a matter of days, but it'll totally
be worth it!

If money were no object (until you quickly went broke), what absolutely moronic ways would you use to blow your investment earnings? Tell us in the comments!