Robinson's buy 6.2 Million $ home on 320 acrea in TNPrev Topic Next Topic

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helpmewin

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Aug 12, 2016, 3:46 pm

Quote: Originally posted by Drenick1 on Aug 12, 2016
Junk is usually referred to something that is worthless. If you think the house is junk, how are property taxes going to break them? If the county tax assessors don't agree with your wisdom then they could very well have a decent tax bill.

For the most part, TN property taxes are one of the lowest in the nation so I think the Robinson's will do just fine.

(Junk is usually referred to something that is worthless)---->WRONG They say one man's JUNK is another Treasure.

So i guess it is NOT Worthless to them. It's Their Money they can waste it however they want we'll be reading about them again soon enough.
helpmewin

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Aug 12, 2016, 3:49 pm

Quote: Originally posted by LiveInGreenBay on Aug 12, 2016
I don't think that house is junk but it should have been hidden amongst all those trees, not in the open like a sore thumb.

I Hope you spend your Money Wisely if you ever WIN BIG!

GOOD LUCK
LiveInGreenBay

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Aug 12, 2016, 4:19 pm

Quote: Originally posted by helpmewin on Aug 12, 2016
I Hope you spend your Money Wisely if you ever WIN BIG!

GOOD LUCK

Haha...I probably won't but my wife won't let me.

Never give up.
One-Day

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Aug 12, 2016, 4:29 pm

Nice crib. The most I'd spend in a home is 1 1/2 million even if I win a billion after taxes. But this isolation will kill me. No people around, no good for me. What am I going to do? Count my money all day? :) I mean for vacation is fine, but not to call it home.

People are more complicated than the masks they wear in society...
xstreamgaming15

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Aug 12, 2016, 6:13 pm

I believe this is how lottery winners dig themselves into a financial grave. Thats why I don't believe what the press says about any lotto winners, that they'll continue living normal lives and continue to be productive citizens. It starts small for example the Robinsons family they bought a giant 6.2 million house, a dozen fancy cars, body guards and probably pay for their kids college tuition. But all those things require maintenance that usually costs money. Every year you have to pay Uncle Sam property taxes, cars need to be insured/maintained, body guards want to be paid for thier services and college is not cheap if they choose to send them. I guess the amount powerball/mega million winners get determines when they'll go bankrupt. Since the Robinsons stopped working and have no self control over the money. I can see 328 million (before taxes) burn out within 10 years.
zephbe

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Aug 12, 2016, 6:38 pm

How many children do the Robinsons have? I saw one daughter on tv with them.

Do they really live in the house? They could be living somewhere more suitable to their personalities while voyeurs are watching "the house".
LiveInGreenBay

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Aug 12, 2016, 6:45 pm

Quote: Originally posted by zephbe on Aug 12, 2016
How many children do the Robinsons have? I saw one daughter on tv with them.

Do they really live in the house? They could be living somewhere more suitable to their personalities while voyeurs are watching "the house".

Maybe they're living in the guest house. That looked real nice too.

Never give up.
zephbe

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Aug 13, 2016, 4:37 am

Like a luxury retirement community where they can socialize with other people when they aren't travelling.

Two homes are not uncommon for the wealthy.
Skibunnylk

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Aug 13, 2016, 11:03 am

A lots lot of middle to upper middle class families own two homes. No need to be extremely wealthy to do that as long as you're sensible with your budgeting.

Never attempt to maintain a lifestyle you can't afford.
Skibunnylk

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Aug 13, 2016, 11:11 am

Quote: Originally posted by helpmewin on Aug 12, 2016
(Junk is usually referred to something that is worthless)---->WRONG They say one man's JUNK is another Treasure.

So i guess it is NOT Worthless to them. It's Their Money they can waste it however they want we'll be reading about them again soon enough.

True, one man's junk can very well be someone else's treasure. This particular home would tend to sway toward treasure instead of junk in most people's eyes. I have seen single wide mobile homes that the occupants believe is the nices place around while others think otherwise.

Never attempt to maintain a lifestyle you can't afford.
helpmewin

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Aug 13, 2016, 12:21 pm

Quote: Originally posted by Skibunnylk on Aug 13, 2016
True, one man's junk can very well be someone else's treasure. This particular home would tend to sway toward treasure instead of junk in most people's eyes. I have seen single wide mobile homes that the occupants believe is the nices place around while others think otherwise.
ArizonaDream

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Aug 13, 2016, 1:13 pm

Quote: Originally posted by xstreamgaming15 on Aug 12, 2016
I believe this is how lottery winners dig themselves into a financial grave. Thats why I don't believe what the press says about any lotto winners, that they'll continue living normal lives and continue to be productive citizens. It starts small for example the Robinsons family they bought a giant 6.2 million house, a dozen fancy cars, body guards and probably pay for their kids college tuition. But all those things require maintenance that usually costs money. Every year you have to pay Uncle Sam property taxes, cars need to be insured/maintained, body guards want to be paid for thier services and college is not cheap if they choose to send them. I guess the amount powerball/mega million winners get determines when they'll go bankrupt. Since the Robinsons stopped working and have no self control over the money. I can see 328 million (before taxes) burn out within 10 years.

Time will tell. But I think you're wrong, they should've had over 190 million after tax to start with. Invested sensibly, that's more than enough to maintain the property and live well.

It all depends on where they go from here. I hope they succeed.
Skibunnylk

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Aug 13, 2016, 3:31 pm

Quote: Originally posted by ArizonaDream on Aug 13, 2016
Time will tell. But I think you're wrong, they should've had over 190 million after tax to start with. Invested sensibly, that's more than enough to maintain the property and live well.

It all depends on where they go from here. I hope they succeed.

With $190 million after taxes, even spending $20 million will leave them $170 million. Any decent financial expert should easily return a minimum of 2% yearly and this would equate to $3.4 million annually. Their property tax is under $20k per year, upkeep/utilities on the property might run $20k monthly but may very well be less while security would be their biggest expenditure at $30k monthly (3 separate guards on rotating shifts every 8 hours 24/7).

With over $280k of monthly income, all their expenses won't even make a dent in what they bring in yearly and unless they go hog wild on spending, the $170 million principal won't even be touched even after 30 years.

Face it, some of you are not pleased that this family won all that money and unless the future tax codes doesn't go ballistic I bet it will last for generations.

Never attempt to maintain a lifestyle you can't afford.
zephbe

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Aug 13, 2016, 4:14 pm

Quote: Originally posted by xstreamgaming15 on Aug 12, 2016
I believe this is how lottery winners dig themselves into a financial grave. Thats why I don't believe what the press says about any lotto winners, that they'll continue living normal lives and continue to be productive citizens. It starts small for example the Robinsons family they bought a giant 6.2 million house, a dozen fancy cars, body guards and probably pay for their kids college tuition. But all those things require maintenance that usually costs money. Every year you have to pay Uncle Sam property taxes, cars need to be insured/maintained, body guards want to be paid for thier services and college is not cheap if they choose to send them. I guess the amount powerball/mega million winners get determines when they'll go bankrupt. Since the Robinsons stopped working and have no self control over the money. I can see 328 million (before taxes) burn out within 10 years.

"Since the Robinsons stopped working and have no self control over the money. I can see 328 million (before taxes) burn out within 10 years."

And how did you come to this assessment of the Robinsons? Lottery envy is real isn't it?

Every champion was once a contender who refused to give up.-Rocky Balboa

“Don’t let someone who gave up on their dreams talk you out of going after yours.” – Zig Ziglar
GatorShea

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Aug 13, 2016, 6:04 pm

I see some real envious/jealous posts in this thread. Who cares what they do with their money or where they live? The only thing that I don't like about that house being way out in the middle of nowhere is that it gives off that home invasion/horror movie or crime story vibe just waiting to happen.

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