Quote:
Originally Posted by CDSmith
It sounds to me like the best move Jman could have made, assuming of course he was in a position to do so, was to take over the deal himself, then sell the land for profit (I've seen posts from several on this very board interested in it and willing to pay more than $100k).
He could then take all of his original investment back, out of the profit of the sale, and also have had enough left over to send some money your way to help you out in your time of bankruptcy woes, you know... to salvage the friendship.
Too bad it didn't happen that way.
So I'll say this: you both knew the risks going into it. When the worst case scenario happens both parties have to suck it up and share the loss, not just one.
I do know that until one of you makes a bold move to make things right with the other you're going to be sniping back and forth on this board for a long long time to come I'm sure.
|
They both FAILED on talking about the "worst case scenario" ahead of time. Before I get involved with any investment I run the worst case scenario through to see what happens. If another person is involved we go over the "what ifs" and it is put into a contract. What if Scott can't pay the bank. What if Jay can't pay his share, etc.. etc.. were all things that should have been explored and agreed on upon getting in bed together. Then if one of those things happen you not only know how to handle it but no one can get pissed.