More Dramma - Should I pay Jman? I WANT YOUR OPINION - Page 2 - GoFuckYourself.com

Semi-Retired-Dave · 11-16-2009, 01:13 PM

Quote:

Originally Posted by SleazyDream

i put a $30,000 downpayment on a $100,000 piece of land.
Jman put no money down. just rent to own monthly payments for 49K of it - I owned 51K of it. he paid in about 16K ish over the time we owned it before I went bankrupt

i paid all legal bills to set up the agreement and paid all taxes too.

he missed 5 months of payments - read above for the rest

bank took back the land but was willing to consider letting Jman take it over....

I would have gave you 120K for the land before you lost it. I love short Sales.

goldfish · 11-16-2009, 01:14 PM

From a business stand point, he lost the property after he missed three months.

From a friends stand point your screwed you are now short a friend because you did business together which is a big NO NO in the first place.

Sucks but that's life.

AaronM · 11-16-2009, 01:31 PM

Quote:

Originally Posted by SleazyDream

yes - rent to own contract.

Jman was 5 months late on payments- at 3 months he lost everything in the contract

You let it go 2 months past the contract and knowing you, you would have given him a lot more than that if you were able to.

Being 5 months late is one thing.....Treating YOU like shit when HE is in default is another.

Top that off with the comments he made about only being your friend because you paid for things. No, fuck that and double fuck him for even thinking you owe him a dime.

AaronM · 11-16-2009, 01:35 PM

Quote:

Originally Posted by Mutt

right about the time you decided to fake your own death and came up with a preposterous story that would make you the subject of ridicule for the next 10 years.

Spot on.

_Richard_ · 11-16-2009, 01:42 PM

you legally can't pay it, end of story.

mOrrI · 11-16-2009, 01:57 PM

Just pay it and move on...

CDSmith · 11-16-2009, 02:09 PM

Quote:

Originally Posted by SleazyDream

bank took back the land but was willing to consider letting Jman take it over....

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.

kronic · 11-16-2009, 02:29 PM

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.

It sounds to me like Jman was never in a position to do that which is why Sleazy made the down payment in the first place.

Without meaning to downplay the significance of what 15k obviously means to Jman, the true loser in this deal was Sleazy. Not only does it appear he spent MORE than 15k on Jman through his own generosity, Sleazy lost someone who he thought was a friend and even worse it turns out, was never really much of a friend in the first place.

Sleazy spent 15k and lost a friend. Jman ONLY lost 15k.

pornpf69 · 11-16-2009, 02:53 PM

never work with friends... and never work with family!!

11-16-2009, 03:14 PM

Quote:

Originally Posted by AaronM

You let it go 2 months past the contract and knowing you, you would have given him a lot more than that if you were able to.

Being 5 months late is one thing.....Treating YOU like shit when HE is in default is another.

Top that off with the comments he made about only being your friend because you paid for things. No, fuck that and double fuck him for even thinking you owe him a dime.

Fuck him Sleazy, whether you went bankrupt or not, once he passed that 3 month mark, his shit was over.

Fuck $2500 he couldn't even pay? I'm pretty sure some of the sig whores here could have made that no problem!

He was using you.

Supz · 11-16-2009, 03:31 PM

I wouldnt give back a dollar. Unless ofcourse you gave him the Madoff. But if his money went into a legit business deal that went sour. Especially if you lost a bunch of your own money. It is not up to you to give the money back. It is up to the investment. This is business 101.

Robocrop · 11-16-2009, 03:42 PM

Isnt J-man the dude who always showoff his stats and how much money he makes?

BlackCrayon · 11-16-2009, 03:47 PM

Quote:

Originally Posted by Varius

If he missed 5 months payments of $500/mth without very good reason, violating the agreement, he definitely doesn't deserve anything back. If his portion already-invested was that important to him he would have found that $500 per month - borrow from another friend, have a few less restaurant/bar trips per month, etc... It's not like we are talking thousands here. Sounds to me like he took your "friendship" for granted and expected even if he let his payments slide you would cover his end. Which I suspect you may have done had you not hit your own money problems.

It was a business deal and you always need to keep business and personal relationships separate. For those who say it is hard, it isn't; I have done business for years with friends and keeping the two separate isn't hard at all as long as one "friend" isn't just using the other.

I don't get why he stopped paying. Was it because you weren't paying your share either so he figured, whats the point? If his failure to pay was his own issue then he would of lost the property if he had gotten a loan from the bank anyways so there is no reason why you should have to pay him back when its partly his fault for lack of payments in the first place.

beerptrol · 11-16-2009, 03:51 PM

Wow! Lost the whole thing over not being able to pay 500/month on the loan?
I'm not a big player but even I can afford 500/month I'd like to hear his side.

will76 · 11-16-2009, 04:13 PM

Quote:

Originally Posted by SleazyDream

i'd have to get the bank records so I'll approximate here - he paid about $500 a month and I paid about $150 a month on the mortgage - mine was less due to my down payment. he paid me and i paid the bank never missing a payment to the bank - EVER - till i went bankrupt - including the 5 months he missed (which happened to be the roughest months for money of my life)

First of all, you might call it a rent to own but that is not what you two did. You were partners. He wasn't renting anything, and he was only going to be a part owner.

You two partnered on a purchase of investment land. Your contribution was:
- get a loan with the bank
- put down down payment needed to get loan
- make monthly payments

you took the risk of going default and jeapordizing your credit. If you hadn't gone bankrupt but was still in a bad financial position and he defaulted on his payments, then the bank would have foreclosed on you and ruined your credit because he didn't keep his end of the deal. It didnt turn out that way exactly, but that was a risk you were taking since you put it in your name and trusted him to make his share of the payments.

His contribution:
- make monthly payments.

He either didn't want to be on the loan, didn't want to get the financing in his name or couldn't get a loan. Either way you took the risk of getting the mortgage in your name and he new the risks if something happened to you financially.

Prior to you filing bankrupcy it seems like he should have been able to work out a deal with the bank. You had 100K piece of property that you only owed what 60K? on. He should have had the option to either pay it off or set up a new mortgage with the bank. If you paid in 30K orginally and he paid about 15K over time, he would have basically bought a 100K piece of property for 75K (60K balance and 15K he already spent).

Bottom line, if you couldn't continue on it with it he had a choice to either step up and finance it himself or walk away.

Although it sounds like he not only did neither but he defaulted on the $500 a month payments a couple months before you lost the property.

I don't see any way which you would have screwed him or owed him an apology. He knew the risks, he had options to fix it, and he stopped sending you payments. Sounds like he owes you an apology.

will76 · 11-16-2009, 04:22 PM

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.

SleazyDream · 11-16-2009, 04:23 PM

careful will76, people will think we're in love

TurboAngel · 11-16-2009, 07:35 PM

Quote:

Originally Posted by AaronM

You let it go 2 months past the contract and knowing you, you would have given him a lot more than that if you were able to.

Being 5 months late is one thing.....Treating YOU like shit when HE is in default is another.

Top that off with the comments he made about only being your friend because you paid for things. No, fuck that and double fuck him for even thinking you owe him a dime.

Shit that's fucked up!

CyberHustler · 11-16-2009, 07:57 PM

You know what? After reading this entire thread I have come to the conclusion that I must have forgotten to take a shower this morning because all I smell is dick cheese.

11-16-2009, 08:30 PM

Quote:

Originally Posted by CyberHustler

You know what? After reading this entire thread I have come to the conclusion that I must have forgotten to take a shower this morning because all I smell is dick cheese.

You'll have that.

Harmon · 03-02-2015, 12:12 PM

Interesting thread...

candyflip · 03-02-2015, 12:36 PM

Sleazy did manage to keep this land. He puts little micro houses on them I think.

Google Expert · 04-22-2017, 04:51 AM

Quote:

Originally Posted by candyflip

Sleazy did manage to keep this land. He puts little micro houses on them I think.

it's the other way around. he moved to live in a trailer park

CaptainHowdy · 04-22-2017, 07:40 AM

View Poll Results: Should I pay Jman back over and above my bankrupsy on our land investment deal? Vote
YES - Jman trusted you. Period. Pay him back every penny and then some.	10	14.49%
No-Jman broke the contract. OR Scott's bankrupsy says no.	34	49.28%
Fuck off already - I don't care.	25	36.23%
Voters: 69. You may not vote on this poll

11-16-2009, 01:14 PM	#52
goldfish Confirmed User Join Date: Jan 2009 Location: Somewhere east of the Mississippi Posts: 723	From a business stand point, he lost the property after he missed three months. From a friends stand point your screwed you are now short a friend because you did business together which is a big NO NO in the first place. Sucks but that's life. __________________ ICQ: 566990329 "There is no rest for the wicked... and porn purveyors!

11-16-2009, 01:57 PM	#56
mOrrI It's over there... Industry Role: Join Date: Nov 2004 Location: Portugal Posts: 4,212	Just pay it and move on... __________________ Get Your Binance Account

11-16-2009, 02:53 PM	#59
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11-16-2009, 03:51 PM	#64
beerptrol Confirmed Asshole Industry Role: Join Date: Feb 2003 Location: Half way between sobriety and fubar. Posts: 12,722	Wow! Lost the whole thing over not being able to pay 500/month on the loan? I'm not a big player but even I can afford 500/month I'd like to hear his side. __________________ “If we are to have another contest in the near future of our national existence, I predict that the dividing line will not be Mason and Dixon's but between patriotism and intelligence on the one side, and superstition, ambition and ignorance on the other.” -- Ulysses S. Grant

11-16-2009, 01:42 PM	#55
_Richard_ Too lazy to set a custom title Industry Role: Join Date: Oct 2006 Location: Vancouver Posts: 30,985	you legally can't pay it, end of story.

11-16-2009, 03:31 PM	#61
Supz Arthur Flegenheimer Industry Role: Join Date: Jul 2006 Location: New York City Posts: 11,056	I wouldnt give back a dollar. Unless ofcourse you gave him the Madoff. But if his money went into a legit business deal that went sour. Especially if you lost a bunch of your own money. It is not up to you to give the money back. It is up to the investment. This is business 101.

11-16-2009, 03:42 PM	#62
Robocrop Confirmed User Industry Role: Join Date: Aug 2008 Location: Hollywood Posts: 2,785	Isnt J-man the dude who always showoff his stats and how much money he makes?

11-16-2009, 04:23 PM	#67
SleazyDream I'm here for SPORT Industry Role: Join Date: Jul 2001 Location: Phone # (401) 285-0696 Posts: 41,470	careful will76, people will think we're in love __________________ This dog, is dog, a dog, good dog, way dog, to dog, keep dog, an dog, idiot dog, busy dog, for dog, 20 dog, seconds dog! Now read without the word dog.

11-16-2009, 07:57 PM	#69
CyberHustler Unregistered Abuser Industry Role: Join Date: Feb 2006 Posts: 25,488	You know what? After reading this entire thread I have come to the conclusion that I must have forgotten to take a shower this morning because all I smell is dick cheese.

03-02-2015, 12:12 PM	#71
Harmon ( ͡ʘ╭͜ʖ╮͡ʘ) Industry Role: Join Date: Mar 2004 Posts: 20,005	Interesting thread... __________________ [email protected]

03-02-2015, 12:36 PM	#72
candyflip Carpe Visio Industry Role: Join Date: Jul 2002 Location: New York Posts: 43,057	Sleazy did manage to keep this land. He puts little micro houses on them I think. __________________ Spend you some brain. Email Me

04-22-2017, 07:40 AM	#74
CaptainHowdy Too lazy to set a custom title Industry Role: Join Date: Dec 2004 Location: Happy in the dark. Posts: 93,181	__________________ FLASH SALE INSANITY! deal with a 100% Trusted Seller Buy Traffic Spots on a High-Quality Network 1 Year or Lifetime — That’s Right, Until the Internet Explodes!