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re: Cousin just asked me for money: he’s a high income earner and parents are wealthy
Posted on 8/18/23 at 6:49 am to RedRifle
Posted on 8/18/23 at 6:49 am to RedRifle
quote:
Just got off the phone with a first cousin who works in tech sales. He does well, but also owns several airbnbs and has fallen behind on mortgages. His parents are wealthy but he’s got too much pride to ask them. He needs to “shift some money around”. Should I lend him the $50k? ETA: he said he’s $50k in the hole but would take whatever he could get.
Only way I would do that is he’d have to give me 100k of something for collateral.
1
Posted on 8/18/23 at 7:46 am to Rize
This - get a few titles to cars, or a property with a low loan balance.
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