If You Owed The Mob $10,000 AND They Were Coming For It Next Week, What Would You DO?

[Prevalent]

Originally Posted by tommygadget

Whew! Go get some sleep and see what happens? OK, I already told you guys that I bailed him out. I also re-negotiated his loan (worked for a bank for a decade). He will be in better shape if I can help him get his IM efforts off the ground. I think I should have made a different post. Here goes: I am the idiot who lent a friend $10,000. I would like to have it back in a month or so. What would you do to get the funds back quickly if you were me? Oh, and for those who will post the "I told you so" posts, I already look at this as a loss.

TomG.

Man you are a good friend.

Personally, I think you would help him more if you made him WORK it off.

All the crap in your business that you don't want to do...teach him how to do it and then make him do it from now on.

Pay him $20/hour and deduct his wages from your loan to him. That's about 500 hours of work. You say he can write....use him!

I would make him treat this as a real job. Make him come to YOUR house or office to do the work so you can keep track of how many hours he has used. Don't let him slack on you or he will be counting his TV time as "hours worked."

You could get your investment back AND help your friend learn a real skill besides the book store.

Personally...I don't see what the big deal people are making about "the house he grew up in." That is just an excuse.

How many of us live in the house we grew up in? Almost none. Are we crying about it? If we can't afford our houses...we move.

Tell him he needs to stand up and be a man and dump the house. He will be right back here again.

Slap him like the Godfather slapped Johnny Fontane and tell him to stop the crying.

You just gave him $10,000...he is now your bitch. Now YOU are the mob boss he is in debt too.

Daniel

[mr2monster]

Originally Posted by Lance K

I'd CTC.


Cut The Check


EDIT:

Anyway, where your friend is concerned, what are the chances that someone going into foreclosure will take action on any of the advice shared anyway?

I just wanted to chip in my $0.02 and say that everyone that is going into foreclosure isn't necessarily there upon their own accord.

I'm skirting this very issue right now, and I'll say that it is definitely not because of my lack of trying... or my lack of "taking action"

Sometimes you get dealt a ****ty hand, and it becomes a situation that is nearly impossibly to come out of. Like my case of getting ripped off by a former room mate to the tune of more than 4000 bucks, getting laid off, and a few other issues that are preventing me from being able to just bounce back like nothing happened.

So, maybe the guy deserves a break... that's all I'm saying.


As far as the OP's friend is concerned, I think he should definitely look into some non-profit organizations that are specifically geared towards helping people save their homes.

[chriswight]

Find the nearest "We Buy Houses" ad and call. Real estate investors love buying preforclosures and sometimes even let the owner cash out SOME of the equity they might have in the property.

[Kay King]

TomG - you've done a lot for your friend.

Daniel had a very good idea above. Asking your friend to work off the loan by doing some writing and other tasks for you could have multiple benefits.

He regains some self-respect rather than feeling like a charity case.

You get some outsourcing and free up time to increase your income - while he learns IM by doing. If he applies what he learns, he can also pay you back from his profits.

If he can make a little money on a regular basis he'll gain a better foundation than dreaming of fast, big bucks.

Could be a win-win.

kay

[Eric Folks]

I think I would have to smash all my piggy banks real quick!
Hi everyone, I am new to this forum.

Dont worry I will have a picture soon

Adios

Entrepreneurs Wanted
www.Ericsincomeplan.com

[Danyelle]

Ha! I'd borrow it from my parents ::insert pathetic face here::

[Lance K]

Originally Posted by mr2monster

I just wanted to chip in my $0.02 and say that everyone that is going into foreclosure isn't necessarily there upon their own accord.

I'm skirting this very issue right now, and I'll say that it is definitely not because of my lack of trying... or my lack of "taking action"

Sometimes you get dealt a ****ty hand, and it becomes a situation that is nearly impossibly to come out of. Like my case of getting ripped off by a former room mate to the tune of more than 4000 bucks, getting laid off, and a few other issues that are preventing me from being able to just bounce back like nothing happened.

So, maybe the guy deserves a break... that's all I'm saying.


As far as the OP's friend is concerned, I think he should definitely look into some non-profit organizations that are specifically geared towards helping people save their homes.

Not trying to be a dick, but in my book, anyone who...

• Put less than 20% down
• Didn't lock in a 30 year rate
• Didn't have 6 months of living expenses in savings

and bought a house anyway was NOT dealt a ****ty hand. And they don't "DESERVE" anything. They signed on the dotted line. There is no such thing as high reward without high risk.

Don't get me wrong. I'm not against helping out those truly in need. I just don't buy into the thinking that anyone with an ignorance problem (not directed at you) is a victim.

[strive4impact]

Originally Posted by tommygadget

He will be in better shape if I can help him get his IM efforts off the ground. I think I should have made a different post. Here goes: I am the idiot who lent a friend $10,000. I would like to have it back in a month or so. What would you do to get the funds back quickly if you were me? Oh, and for those who will post the "I told you so" posts, I already look at this as a loss. TomG.

Give him a couple of books: Rich Dad, Poor Dad, and Think and Grow Rich. Also, How To Win Friends and Influence People is good, and the audio series "The Winner's Seminar" by Jim Rohn.

If you help him change his philosophies,
you will help him change his attitude,
which will help him change his actions,
which will help him change his habits,
which will help him change his results,
which will help him change his lifestyle.

While you're helping him build a business, help him know that he's going to need to change his philosophies to get the results and lifestyle he wants.

[tommygadget]

There's some good suggestions in this thread! Perhaps as Daniel said, I'll make him work it off. Maybe a WSO for writing articles? One for a good writer, I can't see his work going for $5/article! Anyway, that's an idea right there. Jason, yep, that house is mine if he don't do his thang! Yes, I showed him this thread, so he knows there are people out there willing to slap him silly if he don't get his a$$ in gear. The blog is a great idea. The desperate money blog is inspired. What crazy things could we film to get money? Hmm... this could get interesting as long as I don't wind up in jail.

TomG.

[Kyle Tully]

Originally Posted by tommygadget

I am the idiot who lent a friend $10,000. I would like to have it back in a month or so. What would you do to get the funds back quickly if you were me?

Oh that's easy...

Tell your friend you sold his debt to the mob and he has to pay $10,000 by next week or they're coming for him

[Popstar]

TomG,

Do you have a list?

If you do, instead of having your friend write articles, why don't you have him create a product you can sell to your list?

You take the 1st ten grand and then split the rest 50-50.

Debbie

[DrC]

Originally Posted by tommygadget

Whew! Go get some sleep and see what happens? OK, I already told you guys that I bailed him out. I also re-negotiated his loan (worked for a bank for a decade). He will be in better shape if I can help him get his IM efforts off the ground. I think I should have made a different post. Here goes: I am the idiot who lent a friend $10,000. I would like to have it back in a month or so. What would you do to get the funds back quickly if you were me? Oh, and for those who will post the "I told you so" posts, I already look at this as a loss.

TomG.

You bailed him out? Geeze You are good friend! Dont have any quick 10k ideas for you, but if your friend is interested I can give him a slot at my membership site. Lots of members have taken the 'concoctions' there and have made tons of cash with them. I dont want to hinder your need for quick action,,, but your friend who needs help getting his feet off the ground with IM,, my site could probably help him

Let me know

[Jill Carpenter]

In the fake scenario where the Mob is coming after me and I don't have 10g I would probably be attached to a cement block at the bottom of the Hudson. With that kind of deadline (no pun intended) anything IM is going to be tough to get the instant money. Ebay would be my first thought and if I made it out alive I'd be left wearing "the delicate cycle."

In the real scenario I say get your friend to move into your basement and rent out his house for a while so someone else can be making payments. That way while he is in your basement you will have him in all his non working hours as your slave to help you - and I agree with the above, make him work for you to work off what you want.

Originally Posted by tommygadget

Whew! Go get some sleep and see what happens? OK, I already told you guys that I bailed him out. I also re-negotiated his loan (worked for a bank for a decade). He will be in better shape if I can help him get his IM efforts off the ground. I think I should have made a different post. Here goes: I am the idiot who lent a friend $10,000. I would like to have it back in a month or so. What would you do to get the funds back quickly if you were me? Oh, and for those who will post the "I told you so" posts, I already look at this as a loss.

TomG.

Does he have 10g of stuff to sell? That will solve paying you back and emptying out his house for the new renters.[]

[rondo]

What kind of bookstore does he work in? Is he friends with the owner? Can he do a deal with the owner?

I'm thinking he could print a few hundred post cards or business cards or bookmarks and place them on the check out desk. The cards promote a product or service or seminar that pays a decent commission.


Andrew

[VegasVince]

To be honest bro....with friends like this.....you'se don't need too many more enemies.

And the fact is, sellers remourse is kickin' in big time with you right now. But you'se did the deed.....and that shows you have loyalty at least. Nothin' wrong with that.

And I've loaned enough money to dead beats over the years.....to know...it'll come back ten fold one way or another.

Assuming you don't feel like burning down the house via the Mr. Coffee Pot idea I gave you......here's another thought:

1. A life insurance policy in the amount of 10K
2. Have your dead beat friend's "brakes adjusted".

The next time he goes speeding around some corner at 80 miles per hour.....and trys to stop on a dime......POW! It's all over.

Next thing you know....Marlin Perkins from Mutual of Omaha....shows up with an insurance check in the amount of 10K and hands it to you no questions asked.



xxx Vegas Vince

[reapr]

Humm there are several options. Mossberg, glock, springfield, sig always look at all your options or a variation of several.

[Roy Carter]

It's easy now, just show him Vegas Vince's posts in this thread and say you have Vince's personal telephone number.

A hint like that should do the trick!

Roy

[Eric Johnson]

Vince, I hope you are joking. Cause if your not...

Oh, and I looked at that picture you got up...you are definitely NOT colorful. Not even a little bit.

[tommygadget]

OK, you guys have had a good laugh. Where are all those interesting ideas and discussions I see in some threads? For those of you who provided thoughtful answers, I thank you. Anyone else got a solid answer or unique idea that is not related to defective appliances?

TomG.

[Mraz]

5000 Dollars in 45 Days - Starts all over again!
Day 0 of 45

Uhm...make him do that? You'll get your 10k back in 90 days. How about contracting him for a year then? Enormous profits there. 40k

[tommygadget]

He read my blog. Unfortunately, part of the first challenge involved speculating on the value of niche websites for resale. This was problematic because it involved a further cash outlay AND experience on niches and website potential (he does not have either). Now the next part of the challenge involves generating NMOC blogs. I will definitely make him earn his keep to get that part of the challenge done. I guess I was looking for other ideas in addition to the direction I intend to take on the challenge v2.

TomG.

[Zachary R. Skinner]

If I owed the mob $10k and they were coming for it next week I would get the hell out of the country and stay gone for a few years.

That's just what I would do. I've seen the mob movies and I know how nasty these guys can be.

If I knew how to make $10k in a week starting from scratch, believe me I would share it. But I haven't figured that one out yet....

[Andyhenry]

Originally Posted by Sylvia Jaumann

Is there a particular topic that he knows well that he could use to launch a coaching program? He wouldn't even need to have much in the way of written material. If he could find some PLR on the subject and rewrite it into weekly lessons he could easily create a coaching program.

He'd just need to setup a sales page and offer coaching by email using an autoresponder for the lessons. Coaching programs charge a minimum of $200 per month so he'd just need 50 students and he'd have it covered.

Sylvia

OMG - THAT's not coaching. How could anyone look another person in the eye after charging them for 'coaching' created like that?

This same subject was debated here about 4 years ago and got turned into a product.

Most of the advice in that product still applies.

Joe Kumar - 30 Days To Internet Marketing Success.

Joe was a newbie who came here asking questions and a group of warriors gave him answers and that's the product. Many warriors have rights to it so I'm sure someone can still dig it out.

Andy

[CSwrite]

Originally Posted by tommygadget

OK, you guys have had a good laugh. Where are all those interesting ideas and discussions I see in some threads? For those of you who provided thoughtful answers, I thank you. Anyone else got a solid answer or unique idea that is not related to defective appliances?

TomG.

Ok - here goes. He works in a bookstore, so this is what I would have him do - put together a special report, something like: "Bookstore Insider Reveals the Truth About Book Sales - What the NY Times Bestseller List Won't Tell You."

Market it to first time and struggling authors - they are legion.

He can use his own experience from the store, and what he has observed, and turn that into useful advice that can help writers learn to target their markets more efficiently.

Promotion would be a breeze too.

My two cents for what it's worth

Cary

[tommygadget]

Originally Posted by CSwrite

Ok - here goes. He works in a bookstore, so this is what I would have him do - put together a special report, something like: "Bookstore Insider Reveals the Truth About Book Sales - What the NY Times Bestseller List Won't Tell You."

Market it to first time and struggling authors - they are legion.

He can use his own experience from the store, and what he has observed, and turn that into useful advice that can help writers learn to target their markets more efficiently.

Promotion would be a breeze too.

My two cents for what it's worth

Cary

That's a good try Cary, but I think his skill set is more suited to reading depressing novels and sipping lattes at the store's Starbucks concession. Now that I'm thinking about my $10,000, I'm seeing little black dots in my field of vision.

TomG.

[CSwrite]

Originally Posted by tommygadget

That's a good try Cary, but I think his skill set is more suited to reading depressing novels and sipping lattes at the store's Starbucks concession. Now that I'm thinking about my $10,000, I'm seeing little black dots in my field of vision.

TomG.

Ooooo... I'm sorry... It's a tough one, but it was very nice of you to help him out.

For that skill set .... um.... ok -

how about a community site, Ennui - for the bored and disaffected.

Of course, that market may be too busy reading depressing novels and sipping lattes. I'll keep thinking

[David Chambless]

Me, I keep it real simply when it comes to collecting money. I just call Guido and the boys educational services, and they take care of it! It's amazing how educating
a horsehead in your bed or a busted knee cap is!

Seriously, making money on the net from a dead start is pretty darn hard for most.

However, off the net is an entirely different story.
Have him get a couple of the offline gold wso's like andrews, coach him a little bit, and then motivate the hell out of him.

It is true that to make money you have to spend some. Spending a few hundred greasing the skids to make 10 large isn't bad at all.

And realistically, since he couldn't figure out how to save his house himself, (Outside of a loan!), to get your money back, your best bet is to help him pay you off.

I promise that will be a lot easier than repoing a house. Foreclosing on property just sucks at its best.

David

[lincolnn]

i dont understand why people say "my friend" when its always so obvious they are speaking about themselves

[tommygadget]

Originally Posted by lincolnn

i dont understand why people say "my friend" when its always so obvious they are speaking about themselves

Err... because if you've read any of my posts then you know:

1) I am not afraid to ask for help on topics I am not expert in.
2) I don't need to hide behind "a friend", I could have asked the question straight out.
3) I have helped lots of people and have been very generous with a bunch of warriors.
4) My mortgage is not in danger anytime soon.

TomG.

[ryanstreet]

Has no one in here ever fallen on hard times?

What if he has no more savings b/c of a medical issue that wasn't covered by medical insurance drained his savings account.

He was shortly afterwards laid off or something else along those lines.

Guess what? It happens all the time. Situations just like this one.

Who here who makes an honest living has $10,000 "just sitting around" waiting for just such a circumstance to present itself.

Raise your hands. What's that? No one. HMMMM. Go figure.

Everyone falls on hard times and it isn't the end of the world to help someone out.

As for the question, if I needed $10,000 for a house or the mob, here is what I would do.


Pimp myself, that's right, not in the way some of you are thinking

Everyone has a skill in some way shape or form. I am personally a programmer, but you said he was a writer.

Great, draft up some contracts asking for advances on projects he will do. He would be contractually liable in court for providing the service, so he couldn't just "screw" someone by taking the money and running.

Now go work your butt off getting contracts for everyone:

Here in this forum
Other forums
Offline at business
friends and family
you name it

You could probably raise $10,000 in a week from that if you worked hard. You could even present contracts with "promise to pay" ledgers to a bank and they can defer things even with proof like that, (I've done it before, and it does work).

Don't go taking a risk when you are under the gun. Go and do what is tride and true. STick with what you know instead of jumping into something that will take (in most cases) months to make any money off of.

That is my advice, and I'm sticking to it.

BTW, anyone who said lend him the money, good for you. It's nice to know there is a little compassion left in this world.


See ya.