fame & fortune

kinkyslinky16

oh, when you said property I was thinking like a few acres.

I'm in Texas and have been looking at a couple of acres with a house and it's running into the 75-100k range, not even for a big house. land be expensive, yo.

This makes sense. I've lived in New Orleans for almost 10 years and land with a home there is expensive there too. I guess it just depends on what you want.

You're not going far enough out. My parents bought 60 acres of land out in Folsom, and built a 5 bedroom, 3.5 bath, 3000 sq ft house for under $100k.

Of course, this was in 1976.

That's the key... when i said the key was your parents, this is what I meant lol.. That doesn't happen anymore ever... anywhere. :ohwell:

I'm not the Ohio guy. I don't know how long ago his parents bought that house.

Key for my parents, outside of the year, was that Folsom, Louisiana was out in the sticks. People from New Orleans were moving north, but they weren't going as far as Folsom, and the land was cheap ($300 per acre). My dad's side of the family owns an electrical contracting company, so much of the work was done dirt cheap.

You can still find land under $500 an acre, IF you are willing to live out in the boonies, but unless you can build a house yourself, that's where the real cost is going to come in. Even without labor, the cost of building materials has far out-paced the average income increase.

I know you aren't the ohio guy.. I said your parents referencing this ohio guy, if he ever comes back.

darkrose20

A Quarter Mil is the cost of a nice house in some places. I'd still have to work to support the house and myself. That said...I'd buy a modest house, probably one in foreclosure for under $100-Thou. That leaves me with at least $100,001 left. Not really a lot, if you think about it. I'd put that into an investment account to save it for my old age.

Also, given that there would be no mortgage/rent any longer, that means I'd have an extra $887 a month to play with. SO with that money, there would definitely be maid and lawn service. I might even install a pool and get pool service.

Might make it easier to take time off work to travel and do events, since...again..an extra $887 a month I don't have to spend on housing.

Now...if we're talking Power Ball multi-millions. Yup. I'd buy a nice house, a nice car, invest in mental health, substance abuse, homelessness services for the state, have plenty of time off in order to rally my congresspeople and senators into actually getting off their butts and doing the right thing for once for our vulnerable adults and children. Might even open a few emergency shelters and staff them with GOOD and well paid social workers, etc to rehabilitate and facilitate reentry into society and follow up/supportive services.

It's VERY needed.

jnichel

oh, when you said property I was thinking like a few acres.

I'm in Texas and have been looking at a couple of acres with a house and it's running into the 75-100k range, not even for a big house. land be expensive, yo.

This makes sense. I've lived in New Orleans for almost 10 years and land with a home there is expensive there too. I guess it just depends on what you want.

You're not going far enough out. My parents bought 60 acres of land out in Folsom, and built a 5 bedroom, 3.5 bath, 3000 sq ft house for under $100k.

Of course, this was in 1976.

That's the key... when i said the key was your parents, this is what I meant lol.. That doesn't happen anymore ever... anywhere. :ohwell:

I'm not the Ohio guy. I don't know how long ago his parents bought that house.

Key for my parents, outside of the year, was that Folsom, Louisiana was out in the sticks. People from New Orleans were moving north, but they weren't going as far as Folsom, and the land was cheap ($300 per acre). My dad's side of the family owns an electrical contracting company, so much of the work was done dirt cheap.

You can still find land under $500 an acre, IF you are willing to live out in the boonies, but unless you can build a house yourself, that's where the real cost is going to come in. Even without labor, the cost of building materials has far out-paced the average income increase.

I know you aren't the ohio guy.. I said your parents referencing this ohio guy, if he ever comes back.

I'm easily confused. :laugh:

jnichel

Damn, we're all missing the obvious answer of how it would change our lives....

HOOKERS AND BLOW!

Timshel_

Quarter of a million is not much in reality. If you invested it and tried to live off the interested, even managing 10% year over year for returns, that is only $25k before taxes, so probably $19K per year bring home. BUT...that would be a GREAT nest egg to let sit and churn for about 10 years to build for retirement.

Most people would blow it becuase they don't understand wealth.

Just my .02

FitCurves444

Well.... I was actually making a list of things I would do now (not on welfare, by the way...just wanted to make that clear) if I won $100K from the lotto.... so $250K will go so much further....

1. Pay the taxes for the winnings.
2. Pay off my credit card debt.
3. Pay off my car.
4. Max out my Roth IRA contributions for the current year (and now that I have more $$ to play with) save the $5,000 a year I am allowed to contribute for the next 7 to 10 years (35K-50K) in a target retirement fund so that while the cash is sitting in savings, it is still making dividends and capital gains. This cash can also be used as reserves for emergencies.
5. Pay off the mortgage of my rental property.
6. Buy 1 or 2 more rental properties.
7. Hopefully there's some left over for savings and diversify my investment portfolio.... to do fun things. Like travel or buy a modest home in some exotic vacation location by the beach.... or buy a nicer car....

And that is what I would do.....

size08

:smokin: Thankyou for all your comments. After sleeping on it; I would like to do what Katherine Zeta-Jones did. She had moderate success in the UK and decided to go to USA to further her career. She was virtually unknown in the states. She set up her appartment, and started seeking film and television agents. The rest was history. Because she had money, she didn't have to wait on tables like everybody esl with stars in their eyes. And get their butts kicked... And end up broke and go home.:brokenheart:

cakebatter07

Only a quarter million?! Lol...I'd keep working...

shmerek

I would put on the mortgage and get some sweet gym equipment

aedreana

Plastic surgery on face, upper arms, and torso to tighten my skin to look younger.

size08

I like the Kathern Zeta-Jones story, really. What's the difference between her and other actress's who rock up to Hollywood in search of fame & fortune? Katherine didn't have to wait on tables like her fellow actress's. Because of her film and television success in the UK, she had money; giving her the advantage! :happy:

hbrittingham

I want to know where you live that you can get a house and land in the country for 50k lol

I grew up in Ohio. My parents bought a home and 1/2 acre of land for $25,000.

I think the key is your parents. I live in the country and have 1/2 an acre and my house + land originally cost $175k, and now its valued $225k.. Oh, this is in Texas..

The only land + house you can get that, I know of, for $50k has wheels...

The best option is to look in to tiny living.. Yes...... $10k for a home thats itty bitty, requires 10 minutes of light cleaning, and prevents family from wanting to come over? SOLD!

You can't really compare one state with the other. Ohio has had a depressed real estate market for a few years now, so has Michigan. You can get a house with land in either state for very little money.

I live in NC and you can definitely get a house (maybe a small house or one that needs some work) and a few acres for $50K if you are willing to live in a more rural area. And no wheels on the house, either.

http://www.realtor.com/realestateandhomes-detail/2310-Nc-Highway-99-S_Belhaven_NC_27810_M57505-51738?row=3

http://www.realtor.com/realestateandhomes-detail/5432-Spring-Creek-Rd_Aurora_NC_27806_M56328-16581?row=4

And at the other end of the state:

http://www.realtor.com/realestateandhomes-detail/15091-Joe-Brown-Hwy_Murphy_NC_28906_M57373-70111?row=4

http://www.realtor.com/realestateandhomes-detail/5038-Rockford-Rd_Dobson_NC_27017_M68561-49986?row=6

Not everyone needs fancy, which is why some of these homes are so cheap.