Quote from Hydroblunt:
I find it very cute how you need to get into the personal insults just because I doubt your fable. You asked me a question and I answered, then you consider it bragging.
Ok so then, he had $7.5k cash on top of another $6k to pay for repairs, all from a McD's assistant manager's position and right away? Maybe those jobs paid a lot more back than they do now or is it only in your rural area that this phenomenon occurs. Very interesting.
Additionally, you said construction loan not a mortgage. They are different. Maybe the construction loan was rolled into a mortgage upon rehab completion, which I know has been done in the 2000s boom. Apparently his relationship with the bank is quite special, as a loan like that is by no means common for an individual with a poverty level job and was not back in the 1990s. I'm guessing a cousin or two were part of that bank. The rest of the cousins must have contributed by being the free labor.
That's quite an interesting scenario, sounds very common & possible for everyone. Those damn lazy McD workers, why aren't they all starting up real estate empires, they obviously make enough to do so.
The questions you ask are common sense to those of us living in smaller communities. It is obvious you are unfamiliar with this type of close knit community.
Your unfamiliarity and contempt for rural areas began your name calling. I'm simply crawling down to your level to communicate. I assumed that since you started this tactic that this was your choice to continue in this childish direction.
You are the one that said I couldn't afford what you spend for your drug habit. This is not bragging on my part.
Your math skills are really lacking. If the bank initially appraised the home at $40K and he got the home for $30K that is a built in 25% equity down payment. 25% of $40K is $10K. $40K minus $30 K equals $10K. I can only imagine that initially it was a construction loan or remodel loan and then rolled it over to a typical mortgage.
I don't know whether you attended college or not but I graduated with cash in my pocket. I worked all of the way through college and added to the nest egg I started in high school. I had to pay for most of my expenses in college as well. I can only imagine others were as thrifty as I was. So I can only imagine my friend had savings coming out of college.
I know for a fact that he didn't have relatives in the bank because, at that time, the local bank manager was my uncle and he didn't care for my friend's father.
You're quite cynical as well toward McD's. I don't particularly care for their food but I don't think of an Assistant Manager at one being poverty level. Of course if you were born with a silver roach clip in your mouth you probably see it differently.
I know the concept of "friends" seem to escape you as well and that is a shame. You should have some, they are quite a blast to have around. Especially ones that you have had for 30, 40, 50 years and can always count on.
The whole point of my posting this example was just that, to show an example of a possibility. For whatever reason it has totally pissed you off. Get over it and move on. Go roll another joint and go back into your comfort zone in lala land.
