Hooligans Plays Baccarat

Advice needed. What would you do??

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xpansive

xpansive

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So someone close to me is saving for a house deposit but needs another $10k before the banks will look at them. Having followed the all-in thread he has asked me to turn $500 of existing house deposit savings into $10,000 with another 5 "all-in" plays.

I love the person like a brother but h8 it if 1 of the wagers were to lose. I think why cant they work for another year in which time they'd have the money saved?? Person has a good job and house prices have already fallen by more than 10% in last 12 months....Can see the allurement of potential easy $$$ though...

Anyway, theres the predictament. Totally undecided but any angle of advice would be appreciated...Do i help a friend or potentially create more harm than good using good intentions??
 
Xpansive, if you explained to him the risks of losing you have no liability IMO. If this friend is going to get angry at you if he loses, is he really a good friend to have?

I say give it to him. I have a feeling either way something will come out of this that will be beneficial to you in some way.
 
RogueJuror
Let's do this. :shades:

but for real, they got to understand it most likely won't work
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I accept this most likely wont work but having said that ive been on multiple runs winning up to 16 games in a row ATS b4 today, so the potential is there to get the job done. Just depends on whether the stars want to align for me (if there is a) next time round...
 
xpansive
So someone close to me is saving for a house deposit but needs another $10k before the banks will look at them. Having followed the all-in thread he has asked me to turn $500 of existing house deposit savings into $10,000 with another 5 "all-in" plays.

I love the person like a brother but h8 it if 1 of the wagers were to lose. I think why cant they work for another year in which time they'd have the money saved?? Person has a good job and house prices have already fallen by more than 10% in last 12 months....Can see the allurement of potential easy $$$ though...

Anyway, theres the predictament. Totally undecided but any angle of advice would be appreciated...Do i help a friend or potentially create more harm than good using good intentions??
Click to expand...

I can unserstand your want to help, but there is always the risk of loosing, and them getting mad because instead of you ganing the extra K they need, you lost what they only had to begin with.

Do what you think is best, but I THINK playing with a friends money, is risky business, and not worth the risk.

UNLESS You reffer them to a damn good booky and let them know that this is at their own risk and that you are in way at fault for anything that may go south.
 
The first thing I'd do is tell them that this will probably lose.

The second thing I'd do (if he understands this and wants to do it) is fire away.

I mean seriously, it's $500. If $500 is what stands between him getting his house in a year or so after he's saved more money, then he probably shouldn't be buying the house anyway.
 
1) You would not be at at fault under any circumstances here in my opinion

2) I'm not sure where you or your friend is but if it is in the USA and the home is in a USDA eligible zone and your friend qualifies from an income standpoint both of which which you can find out here http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do and also the seller will do a "Seller's Assist" (closing costs included in the purchase price, very common) than he can purchase the home for no money down.
 
If you live in an apartment then don't do it. If you own a house or are paying a mortgage then don't do it. If the person can't afford the down payment on th loan/house then he can't afford to buy a house. it's that simple.
 
stevek173
1) You would not be at at fault under any circumstances here in my opinion

2) I'm not sure where you or your friend is but if it is in the USA and the home is in a USDA eligible zone and your friend qualifies from an income standpoint both of which which you can find out here http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do and also the seller will do a "Seller's Assist" (closing costs included in the purchase price, very common) than he can purchase the home for no money down.
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That is classic ABC Steves right there.
:shakeit:
 
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