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Using Win To Start a Business

Topic closed. 28 replies. Last post 9 years ago by guesser.

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Kentucky
United States
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February 14, 2006
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Posted: March 25, 2008, 7:55 pm - IP Logged

How, you have no budgeting sense if you finance it yourself, anyways this is the 21th century, nobody finance anything themselves anymore. That might have been good during the 50's and up but this is a new generation, it's all about 'OPM' (Other People's Money). Obviously we're thinking both.

True.

Sorry, I don't fully comprehend your last statement, please clarify.

Topics like "this is how I will spend the winnings" even though I didn't actually give any thought to choosing the correct numbers or using a playing strategy that would give me the most for my lottery bucks.

A week ago there were 65 college basketball teams in the NCAA tourney and the players could have speculated on their post game interview after making the winning shot. Or they could have done all the necessary preparation to get them into position to make that tourney winning shot.

I'm not very good at predicting numbers but I can predict when the either the Powerball or Mega Millions jackpots get over $150 million, there will be new topics on the same old subjects like "will it roll to a record high?" and/or wish lists on the winnings. After the jackpot is won, I'll predict we'll see topics how dumb or how smart the winner is too.

I'm not saying doing a simple topic search to avoid redundancy or adding some type of playing strategy to an "if" topic just to give some relevance to the possibility of winning should be a requirement, but it would add to credibility. 

    tntea's avatar - Lottery-059.jpg

    United States
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    June 30, 2004
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    Posted: March 25, 2008, 7:59 pm - IP Logged

    I will sell my two businesses when I win....

    No more headaches for me.

         OLD/Vtrac   Lottery Bible         Double Warnings      Thumbs Up TN F34/F44

      myzeus's avatar - Apollo
      Ohio
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      March 24, 2008
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      Posted: March 27, 2008, 7:38 am - IP Logged

      I would buy a hotel franchise and also invest in apartment complexes. With all the home foreclosures, many people will go into renting an apartment or even a home. I want to physically see my investments. I would not invest in the stock market right now. Just my ideas. :) 

      Sandy

        rubberbandman's avatar - Spawn Classic.jpg
        mn
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        March 4, 2008
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        Posted: March 27, 2008, 9:30 am - IP Logged

        I would buy a hotel franchise and also invest in apartment complexes. With all the home foreclosures, many people will go into renting an apartment or even a home. I want to physically see my investments. I would not invest in the stock market right now. Just my ideas. :) 

        Exactly, real estate, but you know you can do this w/out the lottery win, if you need financing, banks now can give you 107% finance loans,  so you can fix-up the place and rent it out, then when the market gets better sell them. There is tax advantages also when you invest in real estate.

        I recommend reading these books:

        Rich Dad, Poor Dad (Cash Flow Quadrant, Loopholes of the rich), Robert T. Kiyosaki, Diane Kennedy

        Be a real estate millionaire, Dean Graziosi

        Flipping Properties, William Bronchick, Robert Dahlstrom

        They helped me get started in real estate, maybe they can do the same for you

        "Gee Brain, what do you want to do tonight?"
        "The same thing we do every night, Pinky- try to take over the world."

          myzeus's avatar - Apollo
          Ohio
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          Posted: March 27, 2008, 9:36 am - IP Logged

          Exactly, real estate, but you know you can do this w/out the lottery win, if you need financing, banks now can give you 107% finance loans,  so you can fix-up the place and rent it out, then when the market gets better sell them. There is tax advantages also when you invest in real estate.

          I recommend reading these books:

          Rich Dad, Poor Dad (Cash Flow Quadrant, Loopholes of the rich), Robert T. Kiyosaki, Diane Kennedy

          Be a real estate millionaire, Dean Graziosi

          Flipping Properties, William Bronchick, Robert Dahlstrom

          They helped me get started in real estate, maybe they can do the same for you

          I Agree!

          I went through real estate school in Houston Texas and finished with 180 hours but didn't have the money to go ahead to get my state license and at that time it was a "seller's market".

          Yes, I know I could get financing now before a lottery win but I am currently bogged down with trying to sell 2 houses that I inherited and homes are not selling very well in Ohio right now. I could do alot more with a lottery win and it would get me out of this so I can move back to Texas.

          I think I already have the book "Flipping Properties". Thanks for your recommendations. 

          Sandy

            rubberbandman's avatar - Spawn Classic.jpg
            mn
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            Posted: March 27, 2008, 9:55 am - IP Logged

            I Agree!

            I went through real estate school in Houston Texas and finished with 180 hours but didn't have the money to go ahead to get my state license and at that time it was a "seller's market".

            Yes, I know I could get financing now before a lottery win but I am currently bogged down with trying to sell 2 houses that I inherited and homes are not selling very well in Ohio right now. I could do alot more with a lottery win and it would get me out of this so I can move back to Texas.

            I think I already have the book "Flipping Properties". Thanks for your recommendations. 

            That's interesting.

            Do you use a agent or are you in by yourself?

            You are welcome

            "Gee Brain, what do you want to do tonight?"
            "The same thing we do every night, Pinky- try to take over the world."

              myzeus's avatar - Apollo
              Ohio
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              Posted: March 27, 2008, 9:59 am - IP Logged

              That's interesting.

              Do you use a agent or are you in by yourself?

              You are welcome

              I went through 4 agents in 20 months who did not sell 1 house. So now I am doing FSBO. Small town here and the agents seem to be in a clique of their own. I am going to have to sell on my own for sure from now on. Smile

              Sandy

                rubberbandman's avatar - Spawn Classic.jpg
                mn
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                Posted: March 27, 2008, 10:12 am - IP Logged

                I went through 4 agents in 20 months who did not sell 1 house. So now I am doing FSBO. Small town here and the agents seem to be in a clique of their own. I am going to have to sell on my own for sure from now on. Smile

                Well I don't know who is in Ohio, but I know there are investors that purchase property just for the sole purpose of fixing them up and renting them out, maybe if its allowed you can go to your bank and speak to their REO department and ask who recently purchased property from them, or seek the county records. If your personal finance is stable you can rent your properties and if you cant manage yourself, you can seek a partnership or hire a management company.

                I don't know if that helped, I think with a business mentally, I'm always thinking about how to make more money. 

                "Gee Brain, what do you want to do tonight?"
                "The same thing we do every night, Pinky- try to take over the world."

                  myzeus's avatar - Apollo
                  Ohio
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                  Posted: March 27, 2008, 10:29 am - IP Logged

                  Well I don't know who is in Ohio, but I know there are investors that purchase property just for the sole purpose of fixing them up and renting them out, maybe if its allowed you can go to your bank and speak to their REO department and ask who recently purchased property from them, or seek the county records. If your personal finance is stable you can rent your properties and if you cant manage yourself, you can seek a partnership or hire a management company.

                  I don't know if that helped, I think with a business mentally, I'm always thinking about how to make more money. 

                  Since my houses are my inheritance, I want to get the fair market value for them. Most all of the investors here who have looked at 1 house have all wanted to buy dirt cheap and I will not sell to them dirt cheap. The investors want to make a profit and they forget that I want to make a profit also since that is my inheritance. I will wait and get the fair market value. I do have 1 house rented currently.

                  So I will be stuck here until the housing market gets better, which will probably be after we get our new democratic president in office. I'll take my time because I want to get the fair market value on my houses. I have already been waiting for 2 years now to sell 1 house and I don't know how long to sell the other house. The housing market is just so bad right now.

                  It's always nice to chatting with business minded people. I have felt recently like I will be winning the lottery but I don't know when. I just have that feeling of an impending win coming soon.

                  I know I must be getting a little off topic here, it's not meant to be off topic because I would invest in real estate if I won the lottery, with the hopes the housing market will get much better in the coming future.

                  Sandy

                    rubberbandman's avatar - Spawn Classic.jpg
                    mn
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                    Posted: March 27, 2008, 10:53 am - IP Logged

                    It's nice that you have a good business sense, so nobody can manipulate your practices.

                    In your case I suppose that, that is the best thing to do if you are financially secure and handle the properties. Personally I dont think Presidency has anything to do with it, they have never helped before so it would be difficult to assume that they will help now.

                    Likewise, except for the lottery part, I couldnt really care less if I won or not, it would be nice to but I don't really need it, that's good to I suppose. Like somebody here always say, money won is twice as good as money earned.

                    Are you kidding this is the perfect topic for this forum. It is "Using Win To Start a Business", and what business is better than real estate.

                    "Gee Brain, what do you want to do tonight?"
                    "The same thing we do every night, Pinky- try to take over the world."

                      myzeus's avatar - Apollo
                      Ohio
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                      Posted: March 27, 2008, 11:25 am - IP Logged

                      It's nice that you have a good business sense, so nobody can manipulate your practices.

                      In your case I suppose that, that is the best thing to do if you are financially secure and handle the properties. Personally I dont think Presidency has anything to do with it, they have never helped before so it would be difficult to assume that they will help now.

                      Likewise, except for the lottery part, I couldnt really care less if I won or not, it would be nice to but I don't really need it, that's good to I suppose. Like somebody here always say, money won is twice as good as money earned.

                      Are you kidding this is the perfect topic for this forum. It is "Using Win To Start a Business", and what business is better than real estate.

                      I live on a Veteran's Pension currently since I serviced in the US Army during the Vietnam War. It's a fixed income and not much. I am real estate rich with 2 houses but I am money poor. Wish I was rich! Winning the lottery would make life so much easier and I know most people would feel the same way.

                      Good, I am glad you think I am still on topic. Yep, real estate is where the money is. Smile

                      You know the way the housing market is right now, reminds me of the oil bust in Texas, around 1985 or 1986. Then alot of people pulled out of Texas and left a lot of houses behind. I remember that the banks were selling all those houses at decent and cheap prices. If only I had the money back then to invest, I would be richer now because the economy in Texas got better and those houses are worth alot more now. I see our current housing problem getting better like it did in Texas, it's just going to take some time and a new change of government.

                      Sandy

                        rubberbandman's avatar - Spawn Classic.jpg
                        mn
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                        Posted: March 27, 2008, 12:21 pm - IP Logged

                        I live on a Veteran's Pension currently since I serviced in the US Army during the Vietnam War. It's a fixed income and not much. I am real estate rich with 2 houses but I am money poor. Wish I was rich! Winning the lottery would make life so much easier and I know most people would feel the same way.

                        Good, I am glad you think I am still on topic. Yep, real estate is where the money is. Smile

                        You know the way the housing market is right now, reminds me of the oil bust in Texas, around 1985 or 1986. Then alot of people pulled out of Texas and left a lot of houses behind. I remember that the banks were selling all those houses at decent and cheap prices. If only I had the money back then to invest, I would be richer now because the economy in Texas got better and those houses are worth alot more now. I see our current housing problem getting better like it did in Texas, it's just going to take some time and a new change of government.

                        Interesting career choice, yeah but if you hang in there and wait for the boom you are going to be rich in no time, you are already ahead of most people. I suppose the win will be easier, but if one can get that way on their own wouldn't they take that opportunity.

                        Of course, True.

                        That's why this is the perfect time to invest in real estate, when the market is down, you reap the benefits. Yes it will take time, but if you believe in "Trickle down economics" the economy will stabilize itself w/out government assistance.

                        "Gee Brain, what do you want to do tonight?"
                        "The same thing we do every night, Pinky- try to take over the world."

                          OldSchoolPa's avatar - Lottery-057.jpg
                          Gurnee, Illinois
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                          Posted: March 27, 2008, 8:13 pm - IP Logged

                          Why is it that everyone thinks a democratic president will cure our economic woes?  For that matter, why do anyone think HC or BO will improve our economy IF either of them were elected prez?  FYI BC, our most recent democratic party prez benefited from policy that had been in place from RR and GB, and the stars all alined during the late 90's which is why we think so highly of BC and the democratic party.  But everyone seems to forget that we did experience an economic slowdown in the early 90s...when BC was at the helm.  Folks, recessions are a natural part of the economic cycle, just as the subsequent recovery, boom and slowdown.  No prez, be it democratic, republican, or independent can change the script on that.  Also, I am highly skeptical about the plans either of the democratic candidates have laid out.  I think the person we need in office to jump start the economy is that CEO of the Tennessee lottery...I'm sure she would at least have that state's vote of confidence...NOT!

                          Get MONEY!!! Winning a JACKPOT lottery is all the HOPE and CHANGE I desire!!!  NOW give me MONEY!US Flag

                          The guy who won the presidency in 2008 really won the lottery...he is now millions richer, travels in first class style, and even has a staff that would be the envy of the richest Powerball winner (she has a staff of 2). Every night he goes to sleep, he probably plays the close of Dave Chappelle's Show: I'm rich beyatch!

                            guesser's avatar - Lottery-017.jpg

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                            Posted: March 28, 2008, 2:17 am - IP Logged

                            I would only start a business that I would like, and also one I could fold up at the drop of a hat.

                            You also need to be more specific on what your definition of 'business' is -   a business to make money, preserve capital, or bequeth money to others ?

                            And also, what amount of lottery winnings ?   7 mill is a much different scenario that 250 mill.......... 

                             

                             

                            I love you guys that say you are going to be rich when the housing 'crisis' is over - and compare it to Oil.  Those comparisons could not be further apart, oil is something the World needs, and certain housing markets in certain parts of the country are in small markets not everyone needs.    

                            Let me know when you see houses going up for world bid on the NYMEX, that would be funny as h#11.