Real Estate Professional · Brentwood CA / Dallas, TX · Member since 2016 · 185 posts · 146 votes
This year's HGTV dream home giveaway is in one of my all time favorite places (Northwest Montana - Whitefish). The prize includes a roughly $2 million dollar home, some cash, and a car. If you won, what would you do? Also there is a cash in lieu of prize of essentially $1 million cash if you forego taking ownership of the property.
I think I may keep the property, use it a few times a year and otherwise rent it out via STR.
East Texas · Member since 2018 · 205 posts · 138 votes
7y
Depends on where you're at in you're investing career. Me personally I would take the million and buy a metric crap ton of quadplexes and maybe partner for multiple apartments. i dont have the logistics of managing a home that's that far away....yet!
East Texas · Member since 2018 · 205 posts · 138 votes
7y
Depends on where you're at in you're investing career. Me personally I would take the million and buy a metric crap ton of quadplexes and maybe partner for multiple apartments. i dont have the logistics of managing a home that's that far away....yet!
Depends on where you're at in you're investing career. Me personally I would take the million and buy a metric crap ton of quadplexes and maybe partner for multiple apartments. i dont have the logistics of managing a home that's that far away....yet!
I would have to agree with Justin on this one.
I live not far from the dream home location and even then i wouldnt want to deal with the logistical ballet of renting it out.
I would take the cash option of 1 million and invest it into a commercial multi family property.
I could even just invest in some REIT stocks paying a 4-5% dividend or better. Have that million invested in those stocks pay me $10,000+ every 3 months for the rest of my life without lifting a finger.
Architect · Wenatchee, WA · Member since 2018 · 843 posts · 907 votes
7y
Sell it then take the money and run.
Ive been to and heard too many stories of these types of show built houses. They are usually done cheaply and lots of corners cut. Mostly behind the wall kind of stuff. Besides the fact that I don't like most of the design decisions anyways. Plus you get to deal with the nice tax and utility bills that come with such a large and extravagant house. No thanks.