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whateverwednesday

If I had a $1,000,000

I would need to get my license…

I love the game of what would I do if I had a million dollars. It’s fun to think about. If I woke up tomorrow with $1 million dollars deposit into my account – I would honestly call my credit union first. (Credit unions are much better than banks!) But if that money is mine, this is what I would do with it…

Investing! 

I would use about half of the million dollars to invest in a two apartment buildings mainly one day I can live in one of them rent free. I would get one in Los Angeles and one in New York City. (I really want to be bi-coastal one day!) 

This cute building in Chinatown goes for $1.6 million. The downpayment is $320k and the mortgage is almost hitting $7k per month. Charing $1800 x 4 two bedroom units will cover the mortgage. Renting out the 4 bedroom will be extra income. At least this day and age, I would also include utilities with internet. I don’t know why no one does this! It would be so much easier.

I would purchase a 2 or 3 bedroom condo in Manhattan and rent it out until I want to leave Los Angeles. 

$500,000

Business!!

I have an idea for a co-working space and I would love to open it, but that takes money! I would need about $150k for the first year of operations. I would want to for a 2 year lease on nice location. Ikea would probably be the go to for furniture. I would work at the co-working space full time and 2-3 people for a part time role. (I would rather work 10-4pm 6 days a week!) The cost of paying to lease a spot in DTLA would be high. I would want to start off small with a space no more than 2000 sq ft.

$150,000

Rent!!

The rent for the apartment I share with my roommate is $2245 including my $50 pet rent. Yes, I sadly have to pay for Edgar. He really needs a job. I would pay our rent for a year to relieve us of that burden. Or we could just move to a nice place but I also don’t want to pay more in rent.

$27,000

Debt!! 

My debt is bananas. I believe all my debt is going to hit $90k in the next year. I would pay everything I owe. I think I would help out 3 of my friends with their debt as well and give them $10k each.

$120,000

Health!!

I do have insurance with my job but I would probably quit my job to embark on my desire to be freelance and run a business. I would pay for my insurance for the year – the best money can buy and get all my dental work needed. I would also take up therapy again. 

$2000

Car…

Nissan Pao

I just found the cutest car and I want her: A Nissan Pao. I came across while writing this and she currently being sold for $9k on Facebook. She’s cute and want to drive place. I also have a need for a 1960s Beetle. I would need to get my license…

$20,000???

Shopping 🙂 🙂

I would love to go on a shopping spree, but I am trying to limit my clothing choices to major pieces I would wear often when I am not at work. Luckily, I can dress a little bit more flexible when I am at work and I know the only way coffee is going to end up on me is by some dribbling out of my mouth. I really want to purchase a few pieces from Ilana Kohn and Baggu. I would get a new mattress, a rug, and a new desktop computer. Also, I’m in love with this mirror from Anthropologie and would get that as well.

$5,000

Ilana Kohn A/W19

Baby Bey

You already know my greatest desire is to have a baby. I feel like a $100,000 could make two babies happen!

$100,000

Total = $940,000

That covers everything I would buy. I would but the remaining $76k in a savings to let it grow interest and only use it for big purchases costing more than $5k. I have mainly business ideas that are profitable but then I have ideas where I would love to create a home for teen girls in bad situations and an apartment building that goes by your income, not credit, and that is nice to live in.

I hope you had fun with my what-if about becoming a millionaire! I may do more another soon!

keep up with me on twitter and IG

XOXO SEQ

By Sequoia Bey

Self Proclaimed ice cream kween, Sequoia Bey is living it up in Los Angeles with her cat, Edgar. When she's not working or writing , she's either online window shopping or catching up on her shows.

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