House raffle
I don't advocate gambling or lotteries, I think it's a waste of money. However, I felt compelled to buy a ticket for a house raffle. For $100 you have a chance to win a $390,000 home (the owner has resorted to this as they are having trouble unloading it in this depressed housing market.) You also have a chance to win a car, rug, furniture, and the 5th prize is $1000 cash. Plus some of the proceeds benefit a children's home. There is a maximum number of entries of 7000. Put it all together, you have a 5/7000 chance of winning a prize equal or greater than $1,000. Not a bad deal if you have an extra $100 to spend. Full rules here. Rest of info here.
posted by Alan Corey @ 4:03 PM
8 Comments:
You can use www.usahomeraffle.com to find links to other raffles that are happing. There is currently another one in Maryland that is being raffled off. It is in Owings Mills. Check it out.
A Half Million Dollar Home made mostly with earth is being raffled off to raise funds to build affordable housing for low income families.
More info at www.aeonianaffordablehomes.com
House raffles have been popping up all year and folks are finding out that if you win, you'd better have a lot more than $100 to spend!
Here's an article that lists some of the taxes a winner would end up paying out for that "$100 house". For a $390,000 house raffle win, it can be $150K+ just for fed and state income taxes...
House Raffles: Can You Afford To Win?
If you need a listing of Real Estate Raffles one can be found at http://reraffle.com
The best one of all can be found at www.dreamhomedraw.com. The odds of winning a house or studio are 1 in 3,333 and for only $25 per chance (or discounted if you buy for multiple draws; there are ten properties being raffled).
I found a site that offers many different homes you can purchase raffle tickets for all across the United States. If anyone is interested, I strongly encourage you to check it out at:
http://www.rafflemansion.com
Are house raffles legal in NJ and how do you find a charity that would be willing to work with you?
I sold my house in a raffle in 2009 and the greatest challenge for the homeowner is to find a strong charity with a cause that will tug at the public's heart strings. The greatest challenge for the charity is to find sponsorship money so they can build and implement a strong marketing plan. To find out if house raffles are legal in your state, contact the gaming board for your state or the state attorney general's office. There are a number of internet sites that list charities in your state, but another way is to check the websites of your local TV and Radio stations and search nonprofits. You want a nonprofit that is in the news with postiive stories. Be sure to have a cash prize option to the grand prize home so that a winner who cannot come up with the taxes can still accept the grand prize. For more informaiton visit: www.isoldmyhouseinaraffle.com.
Author of: I SOLD MY HOUSE IN A RAFFLE: A Proven Step-by-step Method to Get Your Asking Price, Save Money, Save Time, & Help a Charity Too!
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