I'm not a big gambler but I've always had a muse about what I would do with windfall money. Like many, the fantasy of setting up close friends and family, a comfortable lifestyle, and a few toys always comes up when the guy on the radio is hawking lottery tickets. Since big numbers like $300+ million come along only so often, I thought I'd indulge. The list is extremely partial, and presupposes that I would put family first in my largess.
- I'd still operate my company. How I'd operate would change in some ways. With more capital I'd buy and restore a vacant building I have my eye on, make some struggling indie firms an offer they couldn't refuse, and outsource much of the grunt work I currently do so I could work more on the big picture portion of my business.
- I would start the best real estate instruction school known to man. I love the RETT concept down in Phoenix, but it would have licensure class available, continuing education, and leverage the best real estate minds here in New York and anyone who could travel here.
- I would start a charitable foundation in my late brother's name. It would have divisions for the eradication of juvenile diabetes, kidney health, and preservation of home ownership for at risk folks affected by the downturn.
- I might sue the living $%^& out of about 3-5 mean people who have it coming.
- I would buy Holly Hill, the late Brooke Astor's 65 acre estate, which is walking distance from my home and operate it as a gentleman's farm.
- I would acquire controlling interest in a successfully operating company in the housing industry. Day to day operations would be kept with those that run it, so Washburn and Stewart are safe. ;-)
- I would start a Real Estate Investment Trust (REIT).
- I would spend more time immersed in my kids.
- I would write a fat each check to Villanova University and John F. Kennedy Catholic High School, both my alma mater.
What I wouldn't do:
- I wouldn't stop blogging.
- I wouldn't take a cruise around the world.
- I wouldn't just live off the interest.
- I wouldn't be arrested at a strip club. You have to know where the back door is to these places.
- A Manhattan condominium. Get ready Eileen.
- A big boat
- A house on the Long Island Sound in Rye or Greenwich.
- The mother of all man caves. With a wood burning stove, wet bar, pool table, home theater and a few other goodies.