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Started By
Message
re: Cousin just asked me for money: he’s a high income earner and parents are wealthy
Posted on 8/18/23 at 7:42 am to MrFreakinMiyagi
Posted on 8/18/23 at 7:42 am to MrFreakinMiyagi
quote:
Offer to give him $350 for each nut throw at his wife
It is difficult for me to imagine the intellect of a person who thinks this message is clever and needs to be shared with others.
2
Posted on 8/18/23 at 7:44 am to RedRifle
Most situations like this seem like a person who is trying to maintain their lifestyle without making any major changes to address their debt.
Posted on 8/18/23 at 7:45 am to RedRifle
quote:
50k
We consider that lunch money here, darling.
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.
Posted on 8/18/23 at 7:47 am to RedRifle
Just more evidence Air BnB is about to go bust. 
But it does not really matter. Thanks to Trump's shitty 2017 tax bill investment companies buying all single family homes are here to stay. It's amazing how that piece of legislation fricked over working people.
But it does not really matter. Thanks to Trump's shitty 2017 tax bill investment companies buying all single family homes are here to stay. It's amazing how that piece of legislation fricked over working people.
Posted on 8/18/23 at 7:47 am to RedRifle
quote:
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?
No. I lend money to people when they fall on hard times due to no fault of their own such as getting laid off due to bad economy or say house is destroyed by fire and they’re waiting on insurance to come through.
Your cousin dug his hole by overextending himself, he needs to learn to get out of it. He should sell one of his Airbnbs and pay that mortgage off and catch up on the others to reduce his monthly bills.
The only consideration you should make is offer a partnership in the airbnbs in exchange to getting him current, and that he sells a property to pay you back after you catch him up. And you get 20% of the profit on the remaining ones as a partner
Posted on 8/18/23 at 7:49 am to deltaland
Hire a PI to see if there is any drugs or gambling or chicanery going on behind the scenes. Maybe offer to pay his way to rehab if he will fess up?
Posted on 8/18/23 at 7:51 am to Tiger Ryno
Gambling was my initial reaction. Dude probably has an addiction
Posted on 8/18/23 at 7:53 am to RedRifle
why the frick would you lend anyone 50k unless you are getting interest on the repayment?
some of yall live a different life than me, maybe im just an a-hole but im not lending anyone any money unless they show major changes in their life and im getting a big time interest rate.
some of yall live a different life than me, maybe im just an a-hole but im not lending anyone any money unless they show major changes in their life and im getting a big time interest rate.
Posted on 8/18/23 at 7:53 am to RedRifle
500 bucks sure, 50k no way in hell.
Posted on 8/18/23 at 7:55 am to CaptainBrannigan
quote:
But it does not really matter. Thanks to Trump's shitty 2017 tax bill investment companies buying all single family homes are here to stay. It's amazing how that piece of legislation fricked over working people.
I'm sure all the other massive spending bills have had nothing to do with it.
Posted on 8/18/23 at 7:57 am to RedRifle
How far has he fallen behind on his apparently several mortgages that he needs $50k to catch up? And if he could not stay afloat before, why would catching him up change anything? Sounds like he’s living beyond his means and wants you to help get him back to even so he can keep his stuff and do it all over again. Pass.
Posted on 8/18/23 at 7:58 am to RedRifle
yes, absolutely
Posted on 8/18/23 at 8:01 am to deltaland
Think I would tell him to be a faster shifter
Posted on 8/18/23 at 8:08 am to RedRifle
If I were interested, I would offer cash for equity in the rental business with an option for him to buy me out in whole in the future.
But I would have to want to be part of a rental business with my cousin to offer that.
But I would have to want to be part of a rental business with my cousin to offer that.
Posted on 8/18/23 at 8:15 am to RedRifle
That’s a hard NO. Tell him to sell a property.
Posted on 8/18/23 at 8:18 am to RedRifle
quote:
he’s a high income earner
Not high enough apparently!
What kind of loser grown arse man goes around to family asking for money. Be a man and take care of yourself
Posted on 8/18/23 at 8:22 am to RedRifle
quote:
His parents are wealthy but he’s got too much pride to ask them
He’s not to proud, he already knows the answer!
Posted on 8/18/23 at 8:22 am to RedRifle
quote:
His parents are wealthy but he’s got too much pride to ask them.
Pride goes before destruction, a haughty spirit before a fall.
Tell him he needs to suck it up and take it to his parents.
Posted on 8/18/23 at 8:23 am to danilo
quote:
Not high enough apparently!
Once soft people get accustomed to a certain lifestyle, they cannot go back.
They'll steal and kill for it.
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