Join me on the next Foreclosure Fridays Live (June 29th) to discuss my trip, Foreclosure Book, etc! Start at 5PM PST (10AM Saturday in Australia).

House Raffle Sign-Up and Brainstorm

A couple of people suggested doing a “raffle” to sell my houses quickly. If you are interested in participating please use the signup form below or in the sidebar. If you have some ideas please post your comments here or email me.

To pull this off I will need everybody’s help. Once I am ready I will need everyone to spread the word like crazy! If this doesn’t become a wild-fire buzz of an idea it will NOT work. However, if it DOES work, we can use this system to sell houses for other people and help people out of their tough situation. It’s an experiment.

How the raffle might work:

Basically, the idea is to offer raffle tickets for say $50-100 a pop until there is enough money to pay off a house. Then hold the raffle and pick a randomly person. That lucky person will then become a proud owner of a $500,000 luxury model home in Rio Rancho, New Mexico. I can do this for all the other houses too.

If the raffle does not result in enough tickets sold, then we return the money and everyone is happy.

You can buy as many tickets as you want to increase your odds. However, I am not sure what the minimum ticket price should be. To me, $50 sounds very reasonable. Most people can afford to give it a shot at that price. How much do you think is reasonable? What is the advantage of going higher or lower?

The odds of winning the $500,000 model home at $50 per ticket:

1 ticket at $50: 1 in 10,000
10 tickets at $500: 1 in 1,000
100 tickets at $5,000: 1 in 100

(Am I doing that math right? Someone correct me if I’m wrong.)

Legal Issues

I talked to my RE attorney today to look into the legal issues. He is checking into it. So I will wait to hear more from him.

Does you know anyone who has expertise in this area? I can use a second opinion.

What if Casey just takes the money and runs? Is this a scam?

To all my haters – this is NOT a scam but a way to sell my houses quickly and avoid foreclosure. I want prevent my lenders from losing any money on me. I want to repay every dirty penny I borrowed. It’s the right thing to do. However, since my situation is so bad I need something REALLY creative to get myself out. It also must be legal and ethical.

Brainstorm questions:

  • How can I make sure people take me seriously?
  • How can I ensure the security of the money?
  • How can I collect the money safely and offer a refund?
  • How do I manage the entire process?
  • How do I spread the word to sell enough tickets?

Perhaps I can use a 3rd party escrow company to hold the money. Maybe there is even a company out there that specializes in providing a raffle / lottery service. Something to look into.

Signup for the Raffle!
Be the first one to hear about it! As soon as I have a plan, I’ll notify you so you can participate. Signup and spread the word.


Any ideas?

Leave a Reply

Your email address will not be published. Required fields are marked *