Should I give my brother money?
My brother lost $200,000 that he borrowed from a bank while doing business. He has an investment house A worth $200,000k and another investment house B worth $100,000. He did not want to sell A bc he wanted to keep that house and gave it to his son who is 20 years old so that when the son gets married; his son has a house ready for his wedding.
So he wanted to me to give him $60k because he thinks I have extra cash to help him.
I need to sell an investment apartment to get the cash bc I don’t have cash. So I am struggling because he asked and I am too shy to tell him that he should use his own available cash first.
- Raymond L.Lv 42 months ago
No no no no and NO.
YOU will probably lose that money too.
- babyboomer1001Lv 72 months ago
No. Absolutely not. Tell him you have it in a secure investment and cannot withdraw it for a long time. Never give him any money. I smell trouble if you do.Source(s): Certified Paralegal, with 25+ years' experience.
- RichardLv 62 months ago
That is totally up to you
- curtisports2Lv 72 months ago
Tell him that he has the financial ability to pay his own financial obligations. You aren't paying for the choices he made when he has other choices available to him.
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- EvaLv 72 months ago
Simply tell him you don't have the cash. Don't sell your investment property to fund his error. He may want to give his son a 200k house (not a good idea) but he doesn't NEED to. He can sell it and end his financial problem. He got himself into the mess, let him get himself out.
- MR edLv 62 months ago
- sunshine_melLv 72 months ago
Just say no.
He lost a huge amount of money, but has 2 houses.
He needs to use his own assets first.
- JudyLv 72 months ago
You need to just say no.
- Anonymous2 months ago
Not unless you are willing to lose the $60k also. Don't lend money to family unless you are prepared to treat it as a gift to them.
- SlumlordLv 72 months ago
Tell him no. If you are to spineless to tell him no, then you deserve to waste your money on his son. Sorry, that's how life works. Might not be a bad idea to break off all contact with him completely, since he'll keep using you if you let him.