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I need some no bs advice. I get a call from my brother last week saying that cousin I haven't seen in a few yrs has cancer and isn't doing well. I have not seen him because of anything bad just one of those situations that in a large family we have never been close. So he asked if I would go see him with and of course I say yes. It ends up he lives close to me, about 20 minutes away. Anyways he is 43 yr old with young kids and is fighting the odds but he is fighting financially also. He has no immediate family and is getting evicted from his apartment sept 1st and no insurance. He goes in for cemo therapy every 3 weeks and is hospitalized for about 5 days at a time so of course he can't work. So here is my question I recently started into real estate and have purchased some rental/rehab properties and have one that I owe free and clear but I still need to finish rehab pay taxes Ect... I could put him up there for free or at least maybe he could pay the taxes/ins. I'm not rich nor am I poor but I have worked hard for what I do have with 6 kids. I really want to do the right thing here and finish the rehab and put him and his family in there rent free. I don't really know him that well but he is family and really am torn here on what to do. I didn't get into rentals to lose money but maybe this is larger than money...... How would you handle this??
 

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****** Kong
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Good karma has no price tag. If you own it out right, and can afford to help, do it. Maybe get some other family members to help with the taxes if that's what's stopping you. It'd be a shitty thing to let a family member die of cancer on the streets.
 

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You do realize that if you let them move in free they will be there forever. You will have to make the final decision but I might suggest helping them with money or rent money for x length of time. Probably best to not mention your property. Trying to get them out of your place at some time will make you look bad while giving money for x time will make you look and feel good.
 

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43 and no immediate family yet has young kids?

I'd help him out but it kinda looks like your put on the spot, but it is family, short term it'll be ok but if it drags out.... Phew. Tough call
 

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First off....Even considering it makes you a good person

IMO going down that road may turn into a complete nightmare long term. Your immediate family needs everything you can give them until your all secure so instead of making such a large contribution consider making a donation like $ 1000

They will be super grateful and you don't stick your family's neck out so far.


My .02 ,probably not worth .01
 

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If it was me, I'd put him into that house and get him to pay what he could to cover your costs/taxes etc. He's not going to get a deal that good anywhere else, so he'll be thankful. Don't tell him anything about your financial situation (that you don't owe any money on it).You'd be surprised how people can look a gift horse in the mouth.

I don't know what his background is or what his abilities are, but it'd help if he had some part time work in between his treatments. I'd be encouraging him to do that.

Let him know that he's welcome to stay as long as it takes him to get back on his feet, but you will need a full paying renter to move in there sooner or later.
 

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If you do give him a place to live, make a contract! That way you wont look like the ass if/when you kick him out.
 

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IN HILLARY'S PANTIES
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HE'S BLOOD. DO THE RIGHT THING, FORGET ABOUT THE MONEY. YOU WILL GET IT BACK A MILLION TIMES OVER EVENTUALLY. HELP YOUR COUSIN.
 

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Tough call for sure. Worst case is he doesnt make it. Then you have to throw his widow and children out on the street. Best case is he does make it and gets back on his feet and moves out on his own. Making some sort of contract with him as stated above sounds like the way to go. Family will always screw you harder then strangers as a rule glad I am not in your shoes on this decision.
 

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Discussion Starter #14
HE'S BLOOD. DO THE RIGHT THING, FORGET ABOUT THE MONEY. YOU WILL GET IT BACK A MILLION TIMES OVER EVENTUALLY. HELP YOUR COUSIN.
I'm really considering this and just writing it off(I don't mean taxes). Meaning I could kiss the $ goodby and hope for the best. Like I said I'm not rich but I'm not poor either. Just a hard working stiff like most here
 

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Car ramrod
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Id do it. Make a contract. If he gets better and is in a position to start working then he starts paying rent. Until them make him pay taxes on it
 

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Age of Acquiescence
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Good on you for even considering this........family is family.

However, you need to protect yourself regardless. Often the people who screw us the most, are family.
So keep that in the back of your mind also. You have a family to support, and putting your cousin in
this household can get you into some deep worm holes if it doesn't work out to where they can afford
even the basics. Property taxes still need to be paid, so you need to recognize what you can lose here
and if you are truly willing to lose it before allowing them into your rental property.

My only question is......
Doesn't the Wife work ??? Where is her income in all of this ?? Where is her family in all of this.
Obviously he doesn't have any immediate family to lean on, what about her ??
 

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He is disabled and not getting disability payments??. I thought it was illegal to evict people on disability. Help him by guiding him through what options he has to stay right where he is living now. There isn't any pride involved in his situation. Welfare??. The fight isn't just the cancer right now,but survival skills starts now.
 

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Blood is blood, don't forget about the carma. No contract, keep it vauge. Reep on the tax loss. At the end of the day there is a roof over the family and you are financially sound.
 
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