Family member starting to ask me for money

I loaned someone about $20k once, it was the shortfall for their next IP. I did it based on I knew their integrity and the purpose they were using it for. It was paid back within a couple of months. I then did a similar thing for another friend about a year later for the same reasons with the same result.

My assistant owes about $5k on her home loan, I've offered to pay it off for her and she can pay me back whenever she can. She's refused, but I made this offer because she means a lot to me and I know she's genuinely try to pay it back.

In each case part of the reason I'm happy to do this is that these people would all do their best to pay it back and it makes a difference to their well being or helps them to achieve a goal they've worked hard for.

If a friend needed $100, I'd either give them the money or I wouldn't (depends on the situation). If I did hand it over, I wouldn't expect to get $100 back, it's simply not an amount worth stressing over.
 
alexlee said:
Have a really, REALLY good think about whether you can handle property development. How will you handle it if, say, council approval is delayed, the building overruns by a couple of k, or it rains for a period of time?
Click to expand...

Yeah I've been thinking about this ever since this incident came up. I actually think development will be too stressful. I agree.

Thanks for bringing this up! :)
 
datto said:
You know, setting a goal and achieving it. People bludging is just a pain in the butt.
Click to expand...

This could be something I might say on the Tony Abbott thread...:p

On topic...When asked for a loan, I just tell the truth ie: "all I have is debt, can you lend me some?"
;)
 
alexlee said:
You didn't understand this about yourself before this incident?
Click to expand...

yeah I did, but I thought if I got the BA to do the work for me my stress levels would be ok. i dont think its as easy as that though, I think i would still stress out. Ever since I signed up i've been thinking how its gonna be one long drawn out process and I dunno if its the right thing for me. Just thinking about it right now is stressing me. Anyway its only been 1 week since I signed up. I've arranged another meeting with BA and I think a regular buy and hold is the way to go for me.

I think this is why i keep changing my mind about strategies. I get all caught up thinking of ways to make money but i forget about the stress issue I have. Everything will work out fine.

thanks for listening :)
 
Has anyone got a spare 50 they can lend me till Wednesday when I get paid. I promise to pay it back then, so no need to stress out!
 
For a site full of investors there sure are some odd hangups about money.

I regularly borrow and lend money and it is never an issue, just borrowed a 6 figure sum off someone a month ago on a verbal agreement.
 
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