$14 Billion in Equity. What should I do with it?

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$14 Billion in Equity. What should I do with it?

James Wise
Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes

Recently a family member passed away, leaving me with a building that has $14 Billion in Equity.

What should I do with it?

Turnkey?

HML?

Flips?

Bet it on the Horseys?

5Reply
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Nathan GesnerBusiness Member
Moderator
Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
3y
Quote from @James Wise:

Two chicks at the same time.

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7Reply
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  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    3y
    Quote from @James Wise:

    Recently a family member passed away, leaving me with a building that has $14 Billion in Equity.

    What should I do with it?

    Turnkey?

    HML?

    Flips?

    Bet it on the Horseys?


     But the Cavs. 

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    2Reply
  • Joseph Crunkilton
    Rental Property Investor · Oregon City, OR · Member since 2020 · 324 posts · 780 votes
    3y

    Put it all on black

    3Reply
  • James Wise
    OP
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    3y
    Quote from @Joseph Crunkilton:

    Put it all on black


     What would you suspect my cash on cash return would be utilizing this strategy?

    0Reply
  • James Wise
    OP
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    3y
    Quote from @Russell Brazil:
    Quote from @James Wise:

    Recently a family member passed away, leaving me with a building that has $14 Billion in Equity.

    What should I do with it?

    Turnkey?

    HML?

    Flips?

    Bet it on the Horseys?


     But the Cavs. 


     Spider is Fire

    2Reply
  • Reed Rickenbach
    Real Estate Broker · Memphis, TN · Member since 2020 · 202 posts · 203 votes
    3y
    Quote from @James Wise:

    Recently a family member passed away, leaving me with a building that has $14 Billion in Equity.

    What should I do with it?

    Turnkey?

    HML?

    Flips?

    Bet it on the Horseys?


     You failed to mention that your $14 Billion appraisal came from Sam Bankman-Fried's offer to buy it with his coins. 

    7Reply
  • James Wise
    OP
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    3y
    Quote from @Reed Rickenbach:
    Quote from @James Wise:

    Recently a family member passed away, leaving me with a building that has $14 Billion in Equity.

    What should I do with it?

    Turnkey?

    HML?

    Flips?

    Bet it on the Horseys?


     You failed to mention that your $14 Billion appraisal came from Sam Bankman-Fried's offer to buy it with his coins. 


     bruh

    0Reply
  • Account Closed
    Rental Property Investor · Brooke Park Drive · Member since 2018 · 1k+ posts · 2k+ votes
    3y

    Buy 280,000 C/D class rental units in Ohio

    3Reply
  • Dave PoeppelmeierBusiness Member
    Realtor · Maumee, OH · Member since 2015 · 491 posts · 722 votes
    3y

    3 leg parlay with Cavs to cover, Over on Spida points and Allen rebounds. Doesn't matter what game. You're welcome. 

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    1Reply
  • Nathan GesnerBusiness Member
    Moderator
    Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
    3y
    Quote from @James Wise:

    Two chicks at the same time.

    The DIY Landlord Book4.7248 Reviews
    WebsiteView Page
    7Reply
  • James Wise
    OP
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    3y
    Quote from @Nathan Gesner:
    Quote from @James Wise:

    Two chicks at the same time.


     bruh.........Gimme my stapler 

    2Reply
  • Bruce WoodruffPro Member
    Contractor/Investor/Consultant · San Diego / Phoenix · Member since 2021 · 12k+ posts · 15k+ votes
    3y

    Not knowing your personal financial situation, it's hard to say. Do you really need the money? I suspect not. So I would just sell, pay the taxes, take the rest and go see the world. Give some to charity.

    Life is too short and money is not that important.

    0Reply
  • Karl B.
    Rental Property Investor · Erie, PA · Member since 2015 · 1k+ posts · 2k+ votes
    3y

    Step 1: Emulate Dr. Evil. Use the funds to build a Secret Volcanic Lair, clone a 'little person' version of yourself, and use your evil R.E. supervillain powers to battle Brandon Turner. 

    Step 2: Oh, and for my amusement, please use any spare money to hire a team of copywriters and designers to make funny memes about Morris because I enjoyed those greatly. Or better yet, make a dozen robot versions of him that dance in unison and attempt to renovate homes but fail terribly. 

    1Reply
  • Account Closed
    Investor · Denver, CO · Member since 2022 · 184 posts · 78 votes
    3y

    Bitcoin 

    1Reply
  • Rick Albert
    Real Estate Agent · Los Angeles, CA · Member since 2018 · 2k+ posts · 1k+ votes
    3y

    Sell, get taxed on it, and put it in a high interest savings account and move on with your life. Live off the interest. With banks offering at least 3% right now, you make about $420,000,000 per year without having to do literally anything. Even when it was as low as .5%, you would still get $70M a year.

    0Reply
  • Caroline Gerardo
    Lender · Washington DC · Member since 2015 · 2k+ posts · 2k+ votes
    3y

    Probate is done and no heirs came out of the closet?

    Get out of Cleveland cold buy a waterfront house in Portugal for $1 million. Go there six months of the year. Bring your family and friends.

    Buy three stocks that you know understand and use $2 million and never sell.

    $2 million in layered CD's

    Buy each of your kids a $600000 house and make the deed such that they have to hold and not refinance for 15 years

    So that leaves 8 mil or so to buy the best location, highest quality A property and have professional management. Target $1,500,000 SFR's

    1Reply
  • Bruce WoodruffPro Member
    Contractor/Investor/Consultant · San Diego / Phoenix · Member since 2021 · 12k+ posts · 15k+ votes
    3y

    @Caroline Gerardo He said Billion, not Million.....:-)

    0Reply
  • James Wise
    OP
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    3y
    Quote from @Caroline Gerardo:

    Probate is done and no heirs came out of the closet?

    Get out of Cleveland cold buy a waterfront house in Portugal for $1 million. Go there six months of the year. Bring your family and friends.

    Buy three stocks that you know understand and use $2 million and never sell.

    $2 million in layered CD's

    Buy each of your kids a $600000 house and make the deed such that they have to hold and not refinance for 15 years

    So that leaves 8 mil or so to buy the best location, highest quality A property and have professional management. Target $1,500,000 SFR's


     My old buddy Clayton Morris lives in Portugal. To my understanding, it's really nice over there. Especially when one is trying to escape the US justice system.

    0Reply
  • James Wise
    OP
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    3y
    Quote from @Rick Albert:

    Sell, get taxed on it, and put it in a high interest savings account and move on with your life. Live off the interest. With banks offering at least 3% right now, you make about $420,000,000 per year without having to do literally anything. Even when it was as low as .5%, you would still get $70M a year.

    3%? Bruh I need Cash flowwwwww. Imma be broke at a 3% ROI. You want me eating Ramen Noodles? You think I could do some wholesale flips? Who's got 600,000 distressed single family's I can buy via seller financing at 70% of the ARV less repairs. I'll put down 4% at 6% interest over 36 years.

    0Reply
  • Calvin Thomas
    Developer · New York City, NY · Member since 2015 · 812 posts · 718 votes
    3y
    Quote from @James Wise:

    Recently a family member passed away, leaving me with a building that has $14 Billion in Equity.

    What should I do with it?

    Turnkey?

    HML?

    Flips?

    Bet it on the Horseys?


     Buy more blue paint? Expand The Blue Man Group?

    2Reply
  • Calvin Thomas
    Developer · New York City, NY · Member since 2015 · 812 posts · 718 votes
    3y
    Quote from @James Wise:
    Quote from @Caroline Gerardo:

    Probate is done and no heirs came out of the closet?

    Get out of Cleveland cold buy a waterfront house in Portugal for $1 million. Go there six months of the year. Bring your family and friends.

    Buy three stocks that you know understand and use $2 million and never sell.

    $2 million in layered CD's

    Buy each of your kids a $600000 house and make the deed such that they have to hold and not refinance for 15 years

    So that leaves 8 mil or so to buy the best location, highest quality A property and have professional management. Target $1,500,000 SFR's


     My old buddy Clayton Morris lives in Portugal. To my understanding, it's really nice over there. Especially when one is trying to escape the US justice system.


     Relax, his wife is negotiating a favorable outcome for him.

    1Reply
  • Jill F.
    Investor · Akron, OH · Member since 2016 · 2k+ posts · 4k+ votes
    3y

    https://www.wealthymint.com/mo...

    0Reply
  • Caroline Gerardo
    Lender · Washington DC · Member since 2015 · 2k+ posts · 2k+ votes
    3y

    @Bruce Woodruff I didn't see all the zeros, just add a few ...

    0Reply
  • Bruce WoodruffPro Member
    Contractor/Investor/Consultant · San Diego / Phoenix · Member since 2021 · 12k+ posts · 15k+ votes
    3y
    Quote from @Caroline Gerardo:

    @Bruce Woodruff I didn't see all the zeros, just add a few ...


     Right....?

    0Reply
  • Carlos Ptriawan
    Member since 2019 · 7k+ posts · 4k+ votes
    3y

    you can purchase the entire island of Kiribati, maybe building airport landing as well.

    0Reply
  • Tom GimerBusiness Member
    DMV · Member since 2017 · 3k+ posts · 3k+ votes
    3y

    You have a title problem. 

    Quick claim deed in the chain.

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    0Reply
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