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I have resolved to start blogging. I don't really have a great deal to talk about, so I am going to issue myself to challenge publicly in order to pressure myself into accomplishing it while providing entertainment to any would be readers. The goal? Purchase a house within six months with nothing but tournament poker winnings, starting from scratch.
First a little bit of background. I started playing poker about four or five years ago. I ended up winning $25,000 one Sunday afternoon and it allowed me to play $1000 no limit on party poker. For a couple of months I was living the high life. I bought myself a car and moved out of my condo and into a rented house.
But then came the inevitable downswing. I wasn't a very good poker player, but set mining worked really well back in those days - for awhile. Soon I found myself in over my head against players that were advancing in skill while I stood still. Eventually I had to drop down, and then came a very rude awakening in the form of April 15; I hadn't saved anything for taxes.
So basically for two years I had a huge overdue tax bill while living in a rented house that was too big for me. I was treading water financially. My parents came to my rescue and offered to allow me to move back in rent free while I fixed my financial problems, and that's where I am now. Yes go ahead and laugh, I live with my parents.
I have paid off my tax bill and now have a healthy bankroll. But the lifestyle I live right now is pretty unhealthy for a grown man so I need to bear down and grind out a down payment on a house. Here are the details of my challenge:
For six months I will play two sessions a day of tournament poker, no exceptions. I'm pretty used to doing this but I often take breaks.
At the end of the six month period I will take whatever I have saved and use it as a 20% down payment on a house. I am pretty sure I can get a loan being a professional poker player due to my income tax records, but it may end up with me needing a 30% or more down payment. What ever happens I will be getting this house whether it be a piece of junk or a beautiful estate.
There will be no posts apologizing for my lack of updates. I will do this every single day without exception. Hopefully I will be able to provide a graph or something visual to keep it interesting.
At the end of the challenge I will take pictures of the house I get and detail any problems I had with a loan, since I know there are probably people out there who are interested in the same thing.
-Chris/heynow21
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