Someone broke the first rule...
- Thread starter slowef
- Start date
ermgravy;2030595; said:at the end of the day You have to speculate to accumulate.... if it went the other way, and that company taken off it would prob given them a staple income to run that house... and pay back the loan...
I hate how yall are so quick to jump on anyone in an unfortunate position.... slowef why not go pratice that whole DONT HATE philosophy???
At the end of the days, Fair Play they got given half a perfect life and were willing to gamble it to complete the package... i still dont see how yall find fault... biz goes sour thats way of teh world... and half of you would end up selling that house with out an attempt to keep it before u say differently...and secondly if that was a mfk'er you would all be offering them a couch for teh nite! sort ya morals people please its disgusting.... one planet on people...
Erm, Sir, i dont hate on anybody. I just think that taking a loan out against your HOUSE is completely ignorant. Sorry... never would i even consider doing something like that. I feel bad for them, there philosophy was right but the execution was wrong. Bad luck i guess.. greeds a *****.
nah fair one if they were given money to support it for 25yr... i read it as they were given a big house period... it was early morn and i prob didnt read it that well... i just meant if the tv company gave em a big house and no way to support it that would be so irresponsible on the tv company's part an they be to blame... as it stand i retract my rant and i didnt mean to have ago at u bro!
i quess you would really have to know whether the loan money from the collateral on the house actually went to the construction business... or did they just take out a loan for the value of the home for the cash... netherwords is the construction company worth the money they invested or was that all a hoax.. theres alot more that needs to be expressed to get the full story..
Red Devil;2032360; said:
We will never know Liz. I cant believe this was all over the news like it was...
Erm, its cool man. I dont argue politics, religion or finances in person unless its a debate or if im just plain interested in what that person had to say and i wanted to grasp their thoughts or i would listen just to gain knowledge. I think arguing something this explosive on the net would be futile and cause grief for both parties.
Nekojin;2032369; said:but either way, they're stupid and didnt think it through. and if they did think it through... they're stupid. lol
true...but maybe they just wanted the money and not the house...and because of the market they could not sell the house... and maybe they have the $450,000 buried somewhere...said they were going to use it for construction business and really kept it... theres more to this story....only because i cannot believe they would be this foolish.... if i were going to open a business i would borrow some money from the collateral of the house but not all the money...
Personally, I agree with the majority here, that was one foolish mistake!
That home looks beautiful, and to think - it was completely 100% gifted to them, in addition to a large sum of money that would have paid the taxes on that home/property for the next quarter of a century!!! How many people seriously ever receive such blessings like that - they are few and far between!!
Sure sometimes you take risks in life, but that doesn't mean you gamble with everything you have! Ventures such as the one they attempted to take on should be thought out, and planned, and always always have budgets, marketing strategies, and flexible operation or you are just inviting failure!
What would have been smarter, would have been to start working that field in that area, work under another company that is already established, gain a feel for your market and potential success, then branch out to independent contracting with these already established businesses, working jobs for them, using their heavy machinery, and taking in flat fees - extra man-extra hands status.... THEN, if you were pulling good business as an independent, were building your reputation and establishing business colleagues with the surrounding big boys... Then you could start your venture, offering general labor, carpentry, etc. and later graduate to big-boy toys and full blown construction.
BUT thats what happens when you get greedy, see a large sum of money and think you can take on the world, and you are too hasty in your risk taking. Its just a shame really, because these people could have EASILY gotten by if they had been smart about it. But now, they are losing pretty much everything and their gorgeous family home.
I'm sorry, but when you get down to it, it was pretty idiotic of them to take a loan out on the FULL value of their home because that right there means they had NOTHING else left to save them should it have gone sour. And it did, and thus, they lost it all. No fall-back plan, no safety net set aside, nadda. Thats pretty foolish.
That home looks beautiful, and to think - it was completely 100% gifted to them, in addition to a large sum of money that would have paid the taxes on that home/property for the next quarter of a century!!! How many people seriously ever receive such blessings like that - they are few and far between!!
Sure sometimes you take risks in life, but that doesn't mean you gamble with everything you have! Ventures such as the one they attempted to take on should be thought out, and planned, and always always have budgets, marketing strategies, and flexible operation or you are just inviting failure!
What would have been smarter, would have been to start working that field in that area, work under another company that is already established, gain a feel for your market and potential success, then branch out to independent contracting with these already established businesses, working jobs for them, using their heavy machinery, and taking in flat fees - extra man-extra hands status.... THEN, if you were pulling good business as an independent, were building your reputation and establishing business colleagues with the surrounding big boys... Then you could start your venture, offering general labor, carpentry, etc. and later graduate to big-boy toys and full blown construction.
BUT thats what happens when you get greedy, see a large sum of money and think you can take on the world, and you are too hasty in your risk taking. Its just a shame really, because these people could have EASILY gotten by if they had been smart about it. But now, they are losing pretty much everything and their gorgeous family home.
I'm sorry, but when you get down to it, it was pretty idiotic of them to take a loan out on the FULL value of their home because that right there means they had NOTHING else left to save them should it have gone sour. And it did, and thus, they lost it all. No fall-back plan, no safety net set aside, nadda. Thats pretty foolish.
