If you enter my contest with a $10 entry fee, it's not a loss because you will receive $20 worth of my how-to ebooks (your choice of 25 titles, many of which I lowered in price for this contest) and many are manuals for generating legitimate income. Many reveal my own methods and tips that brought me success as a writer, speaker, consultant, homeowner, etc. I wanted to share my experience and wisdom with more people. Even if you don't win the house you will still come out ahead... if you're smart and follow the books' good advice.
And there will be one person who wins the house.
Let me be clear about one thing: You're not obligated to live in it, but you can. Once it's yours I don't care what you decide to do with it... unless you're thinking of doing something illegal or hurtful. Here are 10 ideas, beyond living in it:
- You can give it away. That will be some wedding gift!
- You can donate it to your favorite charity as a tax deduction.
- You can rent it to tenants for $1000 a month and pocket $700 each month for the rest of your life, after property taxes and insurance.
- You can keep it as a guest house for all your friends who come to Erie to visit you.
- You can use it as a summer cottage, your home away from home.
- You can use it for secret trysts with your spouse or lover.
- You can use it as collateral for a big loan.
- You can register it with AirBnB.com and make money every time someone rents it.
- You can do nothing and let it fall into disrepair. I don't recommend this!
- You can flip it. Yes, once it's legally yours, you can call a realtor, price it for $99,000 (see Zillow and Trulia), and pocket $90,000 or more after the agent's commission, lawyer's fee, etc.
With $90,000 cash you can buy the house you want – it's a decent down payment – in the location you want; you can pay off student loans or credit card debt; pay off your own mortgage; or perhaps go back to school and get that degree you always wanted. You can invest it in the stock market; or perhaps, with cash in the bank, you can live frugally and not work for a few years.
Why haven't I done that? I did. I retained a realtor for four months and no offers resulted. (I admit the house wasn't ready.) I don't want to sell it for $99,000 because I'd end up with a loss of about $45,000. Being money-conscious I can't do that. Buying high and selling low isn't for me. I've done it, and won't do it again. Read this excerpt from my next book (The Benefactor) about how I tried to give someone a lovely, fully furnished home for $5,000.
So, now tell me why you wouldn't spend $10 and send me a clever list of ten things you will do? Where is the downside?
This is the business card I've posted on Facebook that people are sharing. (Thank you!) A number of people are commenting they don't know how to access the Contest Rules, FAQ and Entry Form.
I think they aren't recognizing that the website address is right in the middle of the card. And I think they are expecting a link to click on. This is a contest. They will have to do a little work, like writing the URL into their browser.
I've also had people ask, "Where is the house located?" I can see it, can you?
Yes, I'm launching an essay contest to win my house.
Details coming April 22, 2015