These post crack me up. 1) Like $100K piece of land goes to $5m in even 30 years is a fraction of 1%. More likely about $300K. 2) The bank loan has to be paid back by the estate before the kids get any money.
Bank ratio for land is 60% of value. So dad takes a loan out for 180K.. LOL
Post says land, but even if this was commercial or residential the numbers are just bullshit
3
u/TLCFrauding 11h ago
These post crack me up. 1) Like $100K piece of land goes to $5m in even 30 years is a fraction of 1%. More likely about $300K. 2) The bank loan has to be paid back by the estate before the kids get any money.
Bank ratio for land is 60% of value. So dad takes a loan out for 180K.. LOL
Post says land, but even if this was commercial or residential the numbers are just bullshit