Re:Why I'm taking a long startup investing vacation
by taneq on Sunday June 12, 2016 @07:59PM
(#11890958)
Likewise, Kiyosaki started with a small amount of capital and made most of his early money haunting mortgage foreclosures and flipping foreclosed houses. At one point in Rich Dad, Poor Dad he gloats about making some obscene amount in an afternoon ($50k or so?) by buying a family's home out from under them and selling it. That's an asshole move no matter how you cut it, and I'd rather be poor than be a scumbag.
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Re:Why I'm taking a long startup investing vacation
by spacehome on Monday June 13, 2016 @02:06AM
(#11891967)
That's not an asshole move. You can't "buy a family's home out from under them". The bank owned the home. Kiyosaki made sure the owner of the home got repaid for their initial investment.
Re:Why I'm taking a long startup investing vacation
by taneq on Monday June 13, 2016 @10:19PM
(#11899320)
And banks have never foreclosed on mortgages unfairly, right? He made it easy for the bank to cash out at a huge loss to the mortgage holder. If it wasn't easy then the bank would have been more motivated to reach some agreement with the mortgage holder.