So what would happen if I had a $10,000,000 windfall of money. As noted in the Welcome page, this will be net, and not gross. However, there will be a timeline that would be done to make the most of the money. I will lose all of my current benefits, and since I will still be disabled, I will need a good source of income. This will be crucial to get started as soon as possible. The timeline will be as noted below.
Day 1
I will inform Social Security, DPA, and my apartment management office of the change. These programs requires that I provide a continuously up to date income if there are any major changes. A net windfall of $10,000,000 is definitely a change that would require that. This will all be done in the morning, and hopefully quickly. This will allow to then start on everything else.
I will take a bus to get the telephone number of the realty company that is trying to sell the 4 Story Building, and the 3 Story Building. This will be essential that I acquire the buildings as quickly as possible, so this process must be started. Since there is no loan involved, there will be no need to worry about delays from approvals. The company sells, and I buy. Money will be sent as a wire transfer so the money electronically moves from one account to the other account.
Week 1
I will contact a fiduciary for my investment account. I will seek to invest in $5,000,000 for investments, and that should generate $37,500 gross every month. This will be more than enough, and will assure that I will always have money available to me. I will have 3 bank accounts. The first will be my normal checking account. This will have a maximum of $250,000 and when it drops below $25,000 – I will add $200,000 to the account. This will assure that I would always have a bank account that is supportive of my needs without the need to rush in wire transfers. Since FDIC only covers up to $250,000 – I will need a Swiss bank account as well. Last, I will have a savings account with another US bank for my emergency fund. It will only be drawn upon if I do not have enough income coming in to cover my needs. This will only happen in poor investment months, and if the tenants are giving a hard time about paying their rent.
Most wealthy people uses Swiss accounts to hide their money. I will use it to secure my money. I can’t have $2,500,000 in my primary checking account because if my bank goes bankrupt, I will loss a significant portion of that money, and FDIC will give me a paltry $250,000 for my troubles. This is not a risk I will like to take. Therefore any excess money will go to the Swiss account to protect the majority of my income. I will still pay capital gains taxes on my investments, and business, and I would have already paid the income tax before receiving my $10,000,000.
I will also speak with an arbitrator to acquire to acquire a few telephone numbers. The last 7 digits of the numbers will be the same, but the first 3 will be different. This will allow me to have an easy to remember home telephone number, voicemail number, fax number, forwarding number, and cellular number. I will be willing to pay several of thousands of dollars for the numbers, but thankfully, I already have 2 of these numbers. If you wish to lean more, you can go to My Ideal Phone Setup.
During this time, I will seek to find a doctor that will insert an RFID tag in my right hand. Once I get my 4 Story Building, and 3 Story Building, I will use that RFID tag as a key to enter my building.
Week 3
I would have acquired the buildings, and work with the current store fronts about moving out temporary while the buildings are gutted, and renovated. If they are not willing to work with me, I will have no other option but to enforce an eviction notice. Any current tenants on the upper floors will be given the option to buy out their lease. I will give them 20 months worth of rent if they move out within 30 days. This will cost me money, but will be preferable to evicting them. However, if they do not accept the offer, I will have to evict.
Month 2
I will start work on the 3 Story Building, and 4 Story Building. The first thing that would need to happen is the building must be gutted completely, and brought down to the building’s skeleton. Any frames that have too many holes in them will be replaced. Any Knob and Tube wiring will be removed. Once gutting takes place, and architect can come in and draw up how the floor plans will work in each floor. The goal will be the business on the first floor, and 2BR apartment on floor 2. Floors 3-4 will be my private residence. The roof will have solar panels, and an OTA (Over the Air) antenna – but this is all for later. For the 3 Story Building, the first floor will have a business, the second floor – a 1B apartment, and a studio on the third floor.
And assuming that I can drive, I should be able to have my driver’s license. I will be keeping an eye out on my preferred vehicle which will be a latest model Ford F-150. I could afford to buy a building in this time period, but a garage lease is very expensive, and there is no guarantee of safety for the automobile. Even though I have a license, I will rely on my friend to take me to the store, and will rely on buses for everything else.
Month 4
My buildings would have been renovated. Since I know my friend will not give up her automobile, she will not be able to take the 1BR in the 3 Story Building. This is because there will be no garage available, and on street parking will be ridiculously high. I will disclose to my friend on the money, but I will not give her more details than I think she should know. The reason for disclosing this to her is I will give her access to a good amount of money, and will help her with whatever she might need. I will not buy a house for her because she will not be able to afford to keep up with taxes on a house that would be suitable to live in. She will also have to pay all of the utilities, and will no longer receive Section-8. This will simply be too much for her.
Month 5
I will finally be able to move into my new home. I will contact PennDOT and voter’s registration to inform them of the new address. All other important documents goes to my PMB. It would seem as if I have to notify the UPS store in the event that I move. I will also seek to get a passport as a means of identification. I have no plans on going anywhere, but this will still be an option if I should choose it.
Since I should have all of my numbers, there will be “extensions” with my account provider. The main line will be my personal home phone line. This number is also the number called when using SIP Broker. I will also seek to change my SIP Broker number to match the 412 number. This will make it easier for people to call me if they use SIP Broker, and assuming they know my home phone line. There will be a second home phone line. This will be used for the intercom system, and anytime I will need to do something that involves my residence. For example, I will use this phone number to call for a pizza. This residence home line will use a Grandstream WP815 which is lesser model of the WP825 that I currently use.
Month 6
Everything should be fine, and the way I would want things. I been collecting a monthly income of significant amounts for nearly 6 months. Any excess monies will be deposited into my Swiss account to provide for proper protection of the money that I have. Keep in mind, that my US account will be close to that $250,000 maximum.
I should also have all of my apartments rented out. I will just have 2 commercial tenants, and 3 residential tenants, but this will be sufficient for my needs. I don’t see the ability to have my own Realty Company, so this will likely be all of the properties I will have. If I decide on other properties, I will have to be able to pay cash for them. I will not get a home buyer’s loan since I should be able to pay cash for what I will need.