We are free! The debt is paid! Hip hip hoorah! In the late nineties we embarked on a joint venture in Tooele with a real estate agent who had a super idea that sounded like a winner. It was a condo project by the golf course. Although the price per acre was a little high, this was a sure thing so we paid it. It wasn't however; and it didnt work out. Without questioning or putting together a financial plan, we jumped in head first borrowing $100k each from two brothers at 10% interest. Next we signed on the dotted line, where another $100k was borrowed. Long story short it didn't work out. Bankruptcy isn't possible when it is your home on the line and family that loaned you the money.
So for fifteen long years, with lots and lots of side jobs the last payment was made to the final brother. Whew! Does it ever feel good. Now to move forward never taking for granted the blessings that come our way. The miles we've come and things learned are monumental.
Many a person does similar things such as investing in a sure thing, joint venture etc. putting themselves at risk of dangerous financial matters. Be extra careful before trusting your hard earned money to something that sounds too good to be true. Signing a contract or just a hand shake can come back to haunt you for many years. It did us.
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