How To Raffle Your House
PLEASE READ THIS ENTIRE BLOG ENTRY:
WE DO NOT RAFFLE HOMES…so contacting us to assist you with a house raffle will be a fruitless effort.
Good Luck to all of you!
I’ve decided to re-post this blog entry because of the overwhelming amount of traffic that this site is getting from people interested in raffling their homes…a sign of the times indeed. Many have suggested that some sort of National Raffle could contribute to solving this country’s housing woes. An interesting concept. Below is the original post on How to raffle Your House followed by an update including a link to Charitable Gaming Laws for each state in the country (it seems Florida doesn’t allow raffles and might want to consider changing that legislation).
With housing markets slumping across the country, I have been receiving an unbelievable amount of inquiries in to just how to go about successfully raffling off your house. Since I have absolutely NO experience with such a house raffle, I posed the question to Bruce Anderson, CEO of San Mar Children’s Home and one of the successful orchestrators of such a raffle that took place in Hagerstown, MD. It’s not easy at all says Bruce but he graciously offered the following for anyone who is considering a house raffle:
Having just completed a very successful house raffle in which we raffled a house ($380,000) and a car in 77 days resulting in a $214,000 net profit for the charity we have been besieged with calls and emails from all across the country asking us
to tell others how to do it. The Maryland Secretary of State. the office issuing the required permit to conduct a house raffle, tells us that since the conclusion of our raffle they have been receiving more permit requests than ever before from persons who desire to replicate what we have done. Unfortunately, most will fail.
Conducting a house raffle is a high-risk adventure with no guarantee of success. With that having been said let me share a few of the observations, if not actual lessons, gleaned from our recent experience:
Do your homework ahead of time. Many raffles fail due to the persons beginning without a good understanding of what is involved in the process, and therefore plan improperly.
Get the right nonprofit from the outset. Each state is going to require that the raffle be conducted by a nonprofit organization. If you are the homeowner it is vital to match up with a charity that has the ability to accomplish such an event. How can you tell? Well, as stated earlier there is no guarantee, however, look for the following: Do they have a track record of knowing how to raise money? Do they have an active board that believes such a project can succeed? Are they as a board willing to work to make it successful? Have they helped other projects of the organization? Do they have connections to the media? What is their reputation in the community? What is their appeal to the broader community beyond the local area? Do they have vision for their organization?Source: truegotham.com