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View Full Version : $10 can buy you a waterfront home



BAMAPHIN 22
03-28-2009, 10:09 PM
A $3 million waterfront estate for $10? Not a bad bet, especially in this economy.

Owners Miles and Laura Brannan are raffling their six-bedroom home in Fort Lauderdale's Coral Ridge Country Club. The home has a four-car garage and a 1,000-square-foot master suite, among other amenities.

"My income's been cut in half," Miles Brannan, a real estate investor, said Friday. "We need to sell the house. It's a means to an end."
The plan is to hold the raffle after 300,000 tickets are sold, at $10 apiece. Part of the proceeds will benefit St. Simeon Church in Miami, which is conducting the raffle.


http://weblogs.sun-sentinel.com/business/realestate/housekeys/blog/2009/03/playing_with_house_money_water.html

Dolfan3773
03-29-2009, 05:55 PM
niceeee...to bad property taxes will cost an arm and leg

Amars
03-29-2009, 10:55 PM
This is not a lottery, this is drawing by chance. All applicable federal, state, and local laws and regulations apply. Saint Simeon Church is obligated to report the value of the prize to tax authorities as income.
http://www.floridaluxuryauctions.com/terms.html

so you have to pay income tax on 3million. So what that 1millions in income tax.

SpurzN703
03-30-2009, 12:00 AM
Would be nice but no thanks