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Anonymous
Anonymous asked in Business & FinanceRenting & Real Estate · 2 months ago

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.  

18 Answers

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  • 2 months ago

    No no no no and NO.

    YOU will probably lose that money too.

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  • 2 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.
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  • 2 months ago

    That is totally up to you

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  • 2 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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  • Eva
    Lv 7
    2 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.

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  • MR ed
    Lv 6
    2 months ago

    no..................................

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  • 2 months ago

    Just say no.

    He lost a huge amount of money, but has 2 houses.

    He needs to use his own assets first.

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  • Judy
    Lv 7
    2 months ago

    You need to just say no.

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  • Anonymous
    2 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.

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  • 2 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.

    • TJG2 months agoReport

      Thx

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