Charity Work

[Sgt PSN]

Some of the requirements were; at least 2 kids, a marriage license, attendance at church, reasonably drug free (or at least the appearance to be), some kind of valid trade.

Are you farging serious?  You'll take people who are "reasonably" drug free but only if they're also hooked on jesus?  What kind of church do you require them to attend?  Do they only have to go to church or are they also required to attend at least 1 klan meeting a week?  I guess the marriage license rules out Romes and dykes.  That's good though because they'll destroy the sanctity of marriage in ways that Larry King and Elizabeth Taylor can't.   

And a HUGE LOfargingL @ not having met this family that's been selected to recieve nearly a half mil in handouts.  I want to know when the hell you guys are doing this again.  Who do I send my application to?  Can I just pm it to you? 

[lurking wierdo]

Really don't care what kind of church and there is no application.

[General_Failure]

Does that include synagogues and mosques? I can't believe you're harboring terrorists.

[lurking wierdo]

Yes, synagogues, mosques, temples. Any kind of spiritual foundation.

[mpmcgraw]

when you are getting a 10% return on your money in less than 5 years it is not charity.  It is a great investment, but that is about it. 

[lurking wierdo]

Wow, that went even better than anticipated. Also, MPM, 10% over 5 years is very weak.

[mpmcgraw]

No it's not. 

The housing market is going to keep rebounding.  The house(if it was really worth that much) virtually guarantees you your money is safe from the start.  Little risk plus a 10% ROI over a short time period like 5 years is a slam dunk. 

[lurking wierdo]

Agreed. And with the tax deduction the 10K minimum is much less out of pocket. That being said, the plan is 1 family per year, increased to 2 once the initial investment is recouped.

[shorebird]

If this family can pay back 440k in five years, what do they need charity for? They must be making around 150k a year if they can afford this deal. That doesn't sound like a family in need.

[lurking wierdo]

I am sure they will be able to get a loan to cover it. They should have nearly that much home equity by then.

[rjs246]

WTF? So you're going into this knowing that the family will have to take out a loan to pay you back? This is the biggest exercise in self-congratulations I've ever read about. I mean 'giving' this family some thing that they actually have to pay for and requiring them to pay it back in 5 years? 60 months to pay back half a million dollars is no burden I'd want someone to 'give' me.

[reese125]

the way this guy is short answering is telling enough that him and his buddies are looking to make a buck in the grand scheme of things.

get this shtein out of the charity thread.

[lurking wierdo]

The point stated at the begining was hand up not hand out. If, and this is realistic, they need take out a 200k equity note in 5 years, what is the harm? They will own a business and nice home. They will be on their way. I also said, the paid back money will be used for another family. It is set up as a non-profit so really there is no ROI for the donors.

[Sgt PSN]

Are you really asking what is the harm in them borrowing against the equity in their home during the middle of a struggling economy and housing market?  Gas is rumored to hit $4/gal this year and you're getting them an SUV.  There's somewhat of an energy crisis going on and you're putting them in a half million dollar home, which I assume has some nice vaulted ceilings and a few big picture windows.....you know, things that make it more expensive to heat/cool your home.   

Not to mention that you are assuming that this dude's exterminator business is going to automatically pull in 100k/year.  Based on what?  The guy's obvious business savvy and smart life decisions that he's made to this point in his life?  Dook is 27 years old and has FOUR FARGING KIDS!  Does anyone not see the irony in the presumption that this dude is going to be a successful exterminator (ie: keeping little critters out of your house) when he can't even keep his little critters out of the farging egg!

And on top of all that, I can all but guarantee that if you do make your money money back w/interest that a few dollars off the top are going back in your pocket.  You're going to make some money off this whether you want to admit it or not.  I don't even have a problem with it if you do, just stop trying to sell this as pure charity when it clearly isn't. 

[reese125]

sarge, if your that envious and lobbying for the house and car just ask him flat out.