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  • Avatar artemis 
    Participant
    Status: Physician
    Posts: 588
    Joined: 12/02/2016

    Weird that someone in the family with knowledge about investing and real estate wouldn’t feel comfortable pointing them to research tools or offering a gentle opinion on what is likely to be a terrible idea especially because they sound like they are already in bad financial shape. Maybe its cultural but while we feel no obligation to do anything others may suggest opinions are passed around like the bread basket in my family. If you mention something expect everyone’s unsolicited two cents.

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    It’s great that your family is like that, but in many families speaking up about an upcoming bit of financial insanity merely gets the speaker’s head bitten off.  I don’t blame Lordosis for hesitating to point out the flaws in this “great investment opportunity!11!!!”  The couple in question probably won’t enjoy hearing the news that the real estate agent’s wonderful plan has some significant flaws associated with it.  To them, it’s all upside (just ask the nice real estate agents, and they will confirm it).

    #245411 Reply
    Liked by Lordosis
    Avatar StateOfMyHead 
    Participant
    Status: Advanced Practice Provider
    Posts: 143
    Joined: 01/01/2019
     The couple in question probably won’t enjoy hearing the news that the real estate agent’s wonderful plan has some significant flaws associated with it.
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    Yeah I’m sure you are correct however this could be life altering so I believe offering a few suggestions for them to research if they decide to wouldn’t be too outrageous. I have a high threshold for risk of pissing off my family and friends if I think they are making a bonehead decision. 😉

    #245426 Reply
    Lordosis Lordosis 
    Participant
    Status: Physician
    Posts: 1806
    Joined: 02/11/2019

    Before this it was investing in pot stocks. I thought they were joking so I made some comments about the ridiculousness of doing so. So I already burned my one time unsolicited advice card.
    They are probably better off with Florida real estate then pot stocks right?

    “Never let your sense of morals prevent you from doing what is right.”

    #245452 Reply
    Liked by StateOfMyHead
    Avatar mapplebum 
    Participant
    Status: Spouse
    Posts: 312
    Joined: 04/17/2018
    Splash Refinancing Bonus

    Before this it was investing in pot stocks. I thought they were joking so I made some comments about the ridiculousness of doing so. So I already burned my one time unsolicited advice card.
    They are probably better off with Florida real estate then pot stocks right?

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    Um, no, I wouldn’t say that at all.

     

    Where in FL is this? And also, were they suggesting VRBO type rentals or FT?

    #245456 Reply
    Hank Hank 
    Moderator
    Status: Attorney
    Posts: 1395
    Joined: 03/27/2017

    You almost certainly cannot do VRBO in an age 55+ retirement community.

    #245458 Reply
    Avatar Wiscoblue 
    Participant
    Status: Physician
    Posts: 152
    Joined: 05/17/2017

    My wife and I checked out the villages with another couple from our city. I quite liked the villages. Lots of golf, plenty of stuff to do, decent weather when we want to get out away from Wisconsin winters etc etc. I think I will buy a place there when I retire in a couple of years. It’ll just be for the winters.

    #245461 Reply
    Avatar Larry Ragman 
    Participant
    Status: Other Professional
    Posts: 614
    Joined: 08/30/2018

    There have been housing bubbles in a Florida for literally a hundred years driven by these sorts of sales tactics. Sadly, there is nothing new here. See https://www.library.hbs.edu/hc/crises/forgotten.html

    #245483 Reply

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