I was just watching House Hunters International and the couple was shopping for homes around 1.5 mil.!? I just got wondering what they do for a living to be able to afford that and move to wherever they were going (or if it was their second home)?

The only person 2 people in my family who have homes worth that much:

1. owned factories in the 50's and 60's and sold them and retired
2. Made a killing in real estate over the last 15 years.


Do you know anyone with multi million dollar homes and what do they do for a living? Just curious, looking for a new profession!

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"A true friend is someone who thinks that you are a good egg even though he knows that you are slightly cracked." ~ Bernard Meltzer

I think they said he's a salesman.

ETA: no. he's a technology consultant and she's in sales.

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"Is God willing to prevent evil, but not able? Then he is not omnipotent. Is he able, but not willing? Then he is malevolent. Is he both able and willing? Then whence cometh evil? Is he neither able nor willing? Then why call him God? " ~Epicurus

My friend has a million dollar house - hey just bought a HUD home at a low price- paid it off, and sold it high after a real estate boom- that, with their salaries, allowed them to purchase the more expensive home

He is an accountant, and she is a gymnastics teacher. Neither make incredible salaries

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★♥Caroline★♥

I have a few friends who owns million dollar homes.
1. owns a funiture company
2. nascar driver
3. Dr.
4. president of a trucking company
all of them but one dont act rich even though they all are.

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My Inlaws do. He worked hard as an accountant for the water company for years then started his own CPA company

Most of my neighborhood is close to a million and above. California of course the homes are quite a bit more than most places. Most here in my neighborhood just moved up.

My Neice has a million dollar home in Fla,She has her own computer company....

I have a friend who flipped homes until she got to the million dollar one just a month or so ago (although she got it for $700,000 -- 14 acres with a 2,600 square foot home, barn and arena!).

She is a retired police officer who is also a smart shopper and had the money to pay for this home outright after she sold her last place to developers (which is actually a very sad spin to this story!).


Location, location, location... Although, I don't think that I really answered the question in the OP (I don't know where people get all this money!!!) BUT, you can get a lot more for less money in different areas of the country. There is another show on HGTV where they compare what certain amounts of money can buy in different areas. Very interesting.

In my area, several are pro athletes, many are doctors, the rest seem to have earned their money in the tech industry or own their own business.

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Bevogal

My in laws and grand parents do...

MIL= CEO
FIL= police
Granny= Vice President of a National Bank
Grandad= Vice President of a Major Train Company

Both sets invested well even before they had alot of "extra" money. Both sets taught their off-spring to be careful with money and Invest, Invest, Invest!!!

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Vicki


TLJ Women united in Spirit!

I have always wondered that too
My aunt and Uncle Have a really nice home
They started there own business years ago
and are close to retiring
Health Insurance, Paychecks all that stuff for other companies
Suzanne

Unfortunately many people who buy these homse really CANNOT afford them. They overextend themselves with mortgage payments and often have to sell or have their homes forclosed upon.

When you see people with nice things it doesn't always mean they can afford them.

Then there are those who spend little just so they can afford a nice house. Maybe the house is really nice but the furniture and cars are older or something. Others that I know have had a death of their parents or grandparents and use the inheritance for either a large downpayment or pay the whole darn thing off.

Many people are also using every resource they think of. I know of someone who had garage sales every possible time they could. They took peoples' free stuff they bought stuff at flea markets and yard sales they bought on closeouts. They saved their sale money for over 10 years and put all their extra money in the account: tax refunds, birthday money, etc. After ten years they had enough for a 20% down payment on their dream house.

And like one of the other posters pointed out the housing boom (that is almost gone now) allowed people to buy homes cheaply in say 2000-2004 were able to make some small improvements and sell their home in 2005 for obscene profits. This gives you a good healthy down payment on the new bigger house.

Me, I'm just waiting for the lottery winnings to come rolling in. Until then we have our little teensy tiny house that we can afford mortgage payments on.

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The political system is broke and it's a joke.

yeah i know plenty. doctors, lawyers, financial analysts, CEOs, CFOs, architects, commercial real estate developers, stock brokers, politicians, pro athletes, and most high profile corporate management and treasury positions.

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rhapsody112@gmail.com

My sister/bil owns a 1.5 mil Home in NJ.

They bought in the right place at the right time, knocked down what was there and re-built a beautiful home. They are surrounded by Wall Street big wigs, but they both are computer programmers.

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Jill
jatalamo@aol.com
Mom to Joey (8) and Gianna (6)

DH's aunt and uncle own about 3 MULTI million dollar homes. Uncle started out a concrete company way back when and sold it for $$$$. Then one of the companies that branched it out was running it into the ground and he bought that part back, built it back up and their son runs it now and makes a lot of $$$

My grandparents own a beach house worth well over $1m (probably that much just for the land). My great grandparents owned a chain of liquor stores and a bunch of orange groves in southern CA. When they died, my grandpa (greedy ass he is), sold all the groves and eventually the stores to make his fortune. He IS a hard worker but he's a jerk .

The folks around here that own multi million dollar homes are usually both making $150-$300K in tech companies (but those are laying off so lots of homes for sale) or they bought low in CA and sold high and moved here and got 2 times the house for the same price. There are also docs and lots of business owners (mostly construction from when we had our boom a few years back). The few over $500K houses in our neighborhood were bought from "transplants" (CA and TX I believe)

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Proud to say I haven't shopped at a Wal-Mart since Sept 2003

We have a LOT of CA transplants here too... They have actually driven the prices way *up* here. All of the locals know that they could have paid way, way less then they have been paying for what they are getting.

An acre of land sold for $1,000 each 10 years ago here. Now land is $50,000/acre since CA has decided to move West (we are in Northwestern AZ).

And it's not inflation, no way...

Some of them are honestly making poor decisions spending as much as they are for what they are getting.

Well, DH's best friend from high school owns a million dollar home in a gated community on one of two golf course...

He (DH's friend) works in a factory (for job #1) and builds/owns/"flips" homes for job #2, his wife is retired from Maybelline Corp (worked there for 20 years right out of high school) and now owns a couple of businesses.

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Mental that one, I'm telling you. ---Ron Weasley, "Harry Potter and the Chamber of Secrets"

To me, you don't "own" it if it has not been paid for. You know what I mean?

I know a limo driver that said when he went to pick up people in their mansions, some didn't even have furniture, just the address

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Sometimes the elevator often the shaft

that is crazy....why would you want to live like that??

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Vicki


TLJ Women united in Spirit!

I'm a corp exec, he is a chemist....house was paid off last year, and we have furniture Also, no car payments and never carry a balance on the credit card. We are both 36 and have worked very hard. We also respect money and see the vaule in saving and investing in our future. Maybe that's why I love coupons so much