So what would happen if I had a $10,000,000 windfall? Well, in short, a lot of things will happen. This will be because my resources will be significant, and a lot to take in. First, I will not tell anyone that does not need to know at first. The last thing I would want is people coming out of the woodwork begging for money that they feel they have rights to. I will disclose just the information someone would need to know. In example, I will give a couple of people $250,000 in resources. I will not tell them that I received $10,000,000 – but instead that I am giving them $250,000.
Day 1
Once the money deposits into my account, I will contact Social Security, DPA, and the apartment management. I will also upgrade my internet plan beyond Internet Essentials, and will be able to use my own modem, and a router of my choice. With Social Security, and DPA – I will lose my benefits immediately, and will address the issues of those loses. For the management company, I will pay the maximum unsubsidized rent for my apartment. This will be done until I move out.
Since I am not in good health, I will need to contact UPMC health plans, and get a health insurance coverage. I will want the same or better benefits from what I was receiving with Medicaid. I will also contact a financial wealth investor to setup an investment account, and define how to accomplish my goals. Even though I will have $10,000,000 – most of that money will be gone in a matter of several months due to acquiring properties, and renovating. In one instance, a completely newly constructed building will be in place.
I will also need to contact an arbitrator. I will be willing to spend several thousands of dollars in phone numbers. These phone numbers will meet my needs, and make it so the last 7 digits of the telephone number is the same. I will just need to know where the first 3 digits roles are. For example, my 412 number will be my home phone line. My 413 number will be my voicemail number. More information on how I will address those numbers will be found at My Ideal Phone Setup.
I will acquire a few LLCs. The first one will be the umbrella LLC that would technically own all of the other LLCs. I am going to try to find a way of hiding me as the owner of the LLC in a legal way. The reason for this is I would not want people to know that I have a few businesses under my name. Those that I feel will need to know will be told. This umbrella LLC will be known as FSP Enterprise. I will acquire a business checking account for this LLC which will pay out the bills for the other 3 businesses. I will then acquire an LLC license for FSP Realty, Frank’s Convenience, and Big Frank’s Pizza. However, these businesses will not be generating money until much of the renovation work on the properties that FSP Realty will acquire.
Week 1
I would have made purchases for all of the realty property I will want. I will work with an architect to modify the floor plans of all of the buildings received. I will also need a complete floor plan drawn up for the apartment building that would be constructed. The goal will be to have 1 construction company start the apartment building construction as soon as possible. There will be 3 renovation teams to address all of the other buildings.
I will also make an appointment to have an RFID tag inserted into my hand. The tag will be about the size of a grain of rice, and will insert in between the pointer, and thumb. This will allow me to unlock my doors without having to carry a key card. This will eliminate the chance of me losing my RFID key, and assure that I could always get into my apartments when need be. This can be done by anyone that knows how to properly use a needle. Similar technologies are used with pet tracking tags, so this should be a simple enough procedure that will take 5 minutes to insert, and no hospital stay.
Week 3
201-e, 624-c, and 1734-e will be the first 3 buildings to be renovated. I will eventually move into one of the SROs in 201-e. 624c will be on the behalf of my friend since she says she likes the neighborhood that the house is in. 1734-e will be an option for the current tenants at 1737-e. No matter what, they will have to move out almost immediately, so there will be a focus to get 1734-e renovated as quickly as possible. 239-w will be done by a construction company, and not a company that is intended for complete renovations. The construction will take some time, but I am sure it would be finished quickly while keeping quality.
Month 3
The buildings mentioned above would have been renovated, and the tenants at 1737-e would have either been evicted or moved into 1734-e. In turn, I would have moved into one of my SRO’s. The space will be tight, but I can handle it for a few months. 911-e, 1705-e, and 1737-e will start renovation work. These buildings would be extremely important to renovate in order to get what I need done. I will move into 201-e, and tough it out until 1737-e is renovated. The current furniture I will have will either go into storage, or be disposed of. This is because the SRO will be furnished with the necessary furniture.
I will also assume that I have learned how to drive, and will buy a Ford F-150 once I move to the SRO. There will be a single automobile parking space inside of the building. This will be intended for me for the current situation, but when I move out, it will be for the agent, or maintenance person when they have business to do at the SROs. This will assure that they don’t have to look for a space, and it would be very unlikely that the agent, and maintenance person will be there at the same time.
Next, I will contact PennDOT and Voter Registration to give them the new temporary address. The reason why I will move to the SRO is to quit paying $2,500 for my 1BR apartment. I will not cheat my business, and will still contribute the $750 price tag for the rental of the SRO. The other 14 units will be advertised to be available for rent. In all honesty, I am not a fan of SROs, but they are the best solution if the alternative is homelessness.
The surgery for the RFID tag mentioned above would have been inserted into the hand. As mentioned, this will allow me to enter any of my units. This is good for the case where I have to enter the unit, and the tenant is not home. Obviously, when this happens, I will likely have maintenance with me, and will inform the tenant of the entry as required by the lease. This notification will be done by email.
I will also inform the management by certified letter and notice placed in the door that I will be moving out at the end of next month. This gives them the minimum of 30 day notice for me to move out. Yes, there will be a couple of months that I will pay $2,500 for my apartment that I currently live in, and for the SRO that I would have moved into.
Month 5
911-e, 1705-e, and 1737-e would have been fully renovated. I will move to the 4 Story Building and look for employees to handle my business ventures. My realty employees will be given the option for a 3 Bedroom apartment that would have almost all utilities included. Considering I will have to find the employees, it would take some time. However, I will post for positions everywhere I can find, and hope to get actual employees soon. Since I would have moved out of the SRO, it would be a matter of taking the elevator from 4 down to 2 for the realty office, and then from floor 2 up to 4 to go home. Once my 4 Story Building is renovated, I will contact PennDOT, and Voter Registration, and make the change of address again.
Now that I have my new residence, I will move the telephone numbers from Number Barn to their role. I will also start adding the sub-domains for the buildings that have been renovated for rental. Each one of my businesses will also have their own domain – therefore adding to the current inventory of the domains I own. Since I am no longer a web developer, all of the sites will continue to be Word Press sites. This works well enough, and I am satisfied with the results.
Since I now have 7 of the buildings constructed or renovated, it will be time to continue on the project. 1614-h, 1717-s, and 3031-j would be started to work on. Again, I will assume that I can only get 3 renovation teams. With that said, things can’t move as fast as I would like.
Month 7
1614-h, 1717-s, and 3031-j would have been renovated. The sites will go live, and offer a means for tenants to learn about the properties. All three of these units are houses, so the tenant will be responsible for all of the utilities for the building, including having an internet connection. You can learn why at the realty’s website. I would have hopefully found all of the employees I would need, and the apartment for the realty employees will be filled to not waste space.
Since I will have all of the realty employees that I would need, my role in the business will be reduced. I will address the tenant when signing the leases, and do any reviews that they may need to do. I will also be at the location for inspections of the units, and replace lost keys. This duty, and my contribution will reduce the demand of roles the agent would have to take – therefore letting them do the job they are best at.
I will now start work on 3253-f which is the last building that would be renovated. Since I am targeting Section-8 tenants, it would make sense that this 3 bedroom house will be rented once it hits the market.
Month 9
3253-f would have been completely renovated. I will have a website dedicated to the house, and make note of it in the Section-8 listings for a 3BR house. Once the house is renovated, and a Section-8 tenant wants the place, there will be an inspection which I will be there. Considering that my standards exceeds Section-8’s standard, I don’t have to worry about it failing to pass.