Consultant makes money on 'dream house'

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Submitted by phaster on March 18, 2018 - 4:23pm

skimming the paper this morning noticed an article about RE, sorta...

Quote:

Consultant makes money on 'dream house'
raffles, even if nobody wins a home

There are a host of dream house raffles across the West this year, and a big winner in many of them appears to be a Seattle-based consultant.

The raffles have the same concept — for a $150 ticket, get a chance to win a multi-million-dollar dream home. Although there are lesser prizes, the house is only given away if ticket sales hit a certain threshold.

Ronald McDonald House Charities of San Diego has used consultant Neal Martin Zeavy to run its dream- house raffle at least since 2008. In the decade that he has run the event, the fundraiser has never sold enough tickets to result in a house give-away.

Zeavy was paid $525,000 by the San Diego charity last year, according to the non-profit’s tax returns. For context, Charles Day — the San Diego charity’s president and CEO — received $224,985, the tax records show.

...“More than 48,000 raffle tickets have been sold in each of the past four years,”

...Ronald McDonald House Charities of San Diego uses the majority of the money to fund the organization’s mission to provide bedrooms and meals for families with very sick children receiving hospitalized care.
It raised $3.4 million in gaming activities in 2017, said tax returns.

http://www.sandiegouniontribune.com/news...

should be doing paper work (related to 2017 taxes) BUT kinda bored so did some googling looking for the "listing"

Quote:

2480 Hidden Valley Rd
La Jolla, CA 92037

Seller will entertain offers between $4,750,000 - $5,234,000. One of a kind opportunity waits for a true connoisseur of architecture. A dignified and impressive estate resting upon nearly a full acre, this home perfectly blends modern luxury with a traditional ambiance. A meticulously planned and developed Zen inspired property, features a bright and open floor plan complete with an authentic indoor/outdoor tropical Koi pond. Light, bright, and very open floor-plan offers gorgeous views from every room.

www.zillow.com/homedetails/2480-Hidden-V...

www.youtube.com/watch?v=-9tlhLbbjlw

and FWIW the 2017 property taxes on the "dream home" were, $25,797.36 noted that figure because from what I understand of TRUMPs new "tax" plan, taxpayers who itemize will be able to deduct their state individual income, sales and property taxes up to a limit of $10,000 in total starting in 2018,... currently the deduction is unlimited.

anyway just wondering if anyone else here buys a raffle ticket? usually I buy one ticket because I figure even if I don't win at least some of my "entertainment gambling money" says local (and helps out a worthy charity)