What would you do with $10m dollars?

Question

If you did a deal that made you $10,000,000 dollars net, what would you do with it? The reason I ask is because I figured out something interesting just the other day. But then I started debating what on earth one would do with that kind of money if things worked out?

Jeff Fairchild · Answer

I would probably buy $100 million dollars worth of apartment buildings and use the money as a 10% down payment, then have them managed by a property management company.

N/A N/A · Answer

I'd convert it into cashflow. Pay out the principle on all the mortgages of all rental property that you have (or as much as possible). That will allow you to keep all that money safely in the form of equity and it should really pump up your monthly profits.

That changes the question to: "what to do with $xxx/month?" First of all, find 5 charities that you like and give them 5% each month. Travel the world. Take some art classes. Enjoy nature. Start a small business doing what you *want*. Maybe a restaurant or a bar or a club or a gym or anything else your heart wants. Start a scholarship. Go to a private island in Fiji with your significant other and figure out what you want to do with the rest of your life. Give money to cancer/aids/etc research. Give $ for food/medicine to developing countries. Find a way that you can make a positive difference in the world. The sky is limit here.

"Normal people take care of themselves. Good people take care of themselves and the people around them. Great people take care of everyone." What kind of person do you want to be? If you have the money to be that kind of person... then thats who you should be and what you should do.

N/A N/A · Answer

I'd take out the tithe first and give it back to God. Then I'll leave the rest in my company's account to show as reserves to borrow money to buy some manufactured home communities and some apartment complexes that'll give me positive cash flow each month and just keep building wealth that way without having to use my own money.

Most importantly, I'll make sure that I have an excellent tax strategist/financial planner on my team to make sure that I don't lose as much in taxes.

Once I'm generating enough cash flow each month from my holdings, I'll travel the world with my family then settle back down when the kids start going to school. All the while acquiring more and more properties and building wealth.

Scott Miller · Answer

I'd put it on the street in the form of private money---at 10% per annum compounded would generate I/O payments of nearly a mil a year...

Regards,

Scott Miller

Colin Turnbull · Answer

donate to charity,invest in minor pro sports

N/A N/A · Answer

A former boss (a partner at a real estate development firm in the San Francisco Bay Area) told me that if I would retire when I got $10m, then I would never get to $10m.

I would retire if I had $10m and try to make the PGA tour...

Mark Shah · Answer

turn the $10MM into $20MM then the $20MM into $40MM and keep repeating the process.

Jorge Espinoza · Answer

Hmmm? $5 million to the family. and the other $5 million definently for REI.

Regards
Jorge

N/A N/A · Answer

Re-invest in whatever made me the $10 mil, duh!

N/A N/A · Answer

I have a very unique opportunity to take advantage of if you have that kind of money.  Low risk and high returns on your investment.

Definitely no more dealing with tenants.

:superman: