- This topic has 7 replies, 8 voices, and was last updated 17 years, 4 months ago by LookoutBelow.
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December 14, 2006 at 1:10 PM #8066December 14, 2006 at 1:17 PM #41721poorgradstudentParticipant
I just read that article before coming here. It’s pretty clear the husband is being stubborn regarding his ill timed “investment” idea. The horse probably isn’t helping much, but I almost guarantee that if they sold the rental properties they’d be quite comfortable.
December 14, 2006 at 1:35 PM #41724(former)FormerSanDieganParticipantWhat I didn;t understand was why it required a “closer look” at their finances. If you list their largest assets and expenses these would be at the top of the list. A cursory look would find this issue. What a joke.
December 14, 2006 at 1:45 PM #41725PerryChaseParticipantThat why I think that foreclosures and bankruptcy are not necessarily bad for the economy. That’s our system’s way of reallocating assets/resources to better owners/managers.
By holding on to those looser properties that family is not contributing to growing the economy. They are just paying debt and “scraping by.” If they sold at a lost, they could reallocate their yearly earnings to consumption and more productive investments.
December 14, 2006 at 3:08 PM #41730no_such_realityParticipantI think anybody would have a problem if they went from $250,000 to $150,000 in income and hadn’t planned it.
Unfortunately, any money board discussions are full of these lame brains.
Here’s what they should do…
1> He should get a bleeping job again.
2> either rent the investment houses or sell them.
3> if you’re still debating the need for a private phone number because of the $3 charge, GET RID OF THE HORSE!December 14, 2006 at 3:20 PM #41732yooklidParticipantI have to admit to being somewhat stunned myself….
December 14, 2006 at 4:32 PM #41736powaysellerParticipantnsr, love your advice, LOL!
Doesn’t the rental property give them tons of depreciation tax write-offs (per the other thread), enough to make them practically rich?
December 14, 2006 at 5:44 PM #41742LookoutBelowParticipantLOL !! Hilarious ! These greedy bas**rds are going to get skinned, this is a really sad story HAhahahaaaa….. He's a reincarnation of Gilligan
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