You must be logged in to reply to this topic.
-
Here’s a good example of why you should never use bank financing and never — ever– personally guarantee a loan ( the property should be the sole security)
Coverage of that story last night on TV here (in the Dallas area) included a tidbit that after retiring from an NBA career, some 60% of those athletes were broke within 5 years. That’s not inconsistent with the old quip from J. Paul Getty that KEEPING what you’ve made is 10 times more difficult than making it in the first place.
Same thing happens with lottery winners — often for similar reasons.
There are a few competent advisors around the country for people who come into “big money” without a history of handling it, but as an old military saying goes:
“The best parachute packers are jumpers themselves.”
.
Hello everyone I am also a new memder of cash flow and I’m glad to be apartof this new famiy of R.E.Investig Minds.I was trying to get acclimated to the Forum that Jackie suggested that I take Part in,and I wanted to respond to some of the committs that were made about “Antoine Walker”and yes I agree that it was I’ll advised to make so many Unseured investments.But to belittle the man by calling him stupid is and unjust.Was Donald Trump Stupid when he lost every thing he had 3 times,or the most recent Robert K.No there are times when we make mistakes and yes this was a big one.We should use this oppertunity now and Learn from Antoine and the like and become Better investores from it.
Hey guya a got a little long witth my thoughts but I can’t waite to get engage mor often as I learn more about R.E. investing,Glad to be appart S.Sanders.
Jackie,thanks for your quick response on Determining Value-I’m on it.Hello everyone I am also a new memder of cash flow and I’m glad to be apartof this new famiy of R.E.Investig Minds.I was trying to get acclimated to the Forum that Jackie suggested that I take Part in,and I wanted to respond to some of the committs that were made about “Antoine Walker”and yes I agree that it was I’ll advised to make so many Unseured investments.But to belittle the man by calling him stupid is and unjust.Was Donald Trump Stupid when he lost every thing he had 3 times,or the most recent Robert K.No there are times when we make mistakes and yes this was a big one.We should use this oppertunity now and Learn from Antoine and the like and become Better investores from it.
Hey guya a got a little long witth my thoughts but I can’t waite to get engage mor often as I learn more about R.E. investing,Glad to be appart S.Sanders.
Jackie,thanks for your quick response on Determining Value-I’m on it.You’re right samuel.
We all make mistakes. The biggest mistake he made was trusting someone else with his money and signing personally for loans.
When you have tons of money coming in, it is easy to think it will last forever. This sad story is also proof that only YOU can watch over your money if you want it to last a lifetime.
You must be logged in to reply to this topic.
