Very interesting read here... we had a situation occur in our family very recently where a family member had to come clean about $10,000 investiment that got spent. The indended purpose was to use it for an investiment and the loanee promised to pay back the loaner within 1 year and with 10% interest. The intent was there, but with a market like this, who knows. The loaner has learned a very valuable less here and that is what most of you have said, consider it a gift (which the loaner refuses to do).
Anyway, I would borrow from a bank before asking from any friend or relative. Because should I not be able to pay it back, I would never feel ok with myself.
On that note, I believe I owe Colin some money for ribs we had one night!
Anyone else? I'm paying up! :P
Previous Topic
Index
AmbergrisCaye.com