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319
Brother Blows Inheritance On Car And Trips, Gets Mad Sibling Invested And Became A Landlord
Show me an unhappy family, and I’ll show you a group of people who cannot (and probably should not) become business partners. However, for a man who goes online by the nickname KeyAwareness3064, this wasn’t a problem. At least, not at first. After his brother refused to collaborate on a real estate investment, he bought the sibling out and proceeded to develop his idea. But when the venture became profitable, the brother came back with accusations of deceit and demands for his slice of the pie.
RELATED:
This man bought his brother’s half of the home they inherited and turned the property into a fourplex
Image credits: Zinkevych_D/Envato elements (not the actual photo)
But now his family are accusing him of deception and greed
Image credits: Sightline Institute: Missing Middle Homes Photo Library/Flickr (not the actual photo)
Image credits: KeyAwareness3064
Inheritance is a common source of conflict
Image credits: Kuncheek/Pexels (not the actual photo)
Since 1992, the number of Americans getting inheritances from parents has nearly doubled even as bequests from grandparents and aunts and uncles have remained flat.
As of 2022, the average American has inherited about $58,000. But that’s if you also include the majority whose total lifetime inheritance sits at $0. If you look only at the lucky few who inherited anything, the average jumps to $266,000.
When you live your life under the assumption that your inheritance will fund your retirement plans, things could get messy.
Geropsychology expert, Aladdin Ossorio, PsyD, suggests this is happening primarily because we live in a culture that’s obsessed with money. “Maximizing one’s financial position is a primary motivator. The opportunity to obtain money overrides ethical behavior around the source of the money,” Ossorio told Forbes.
Children who find out about other beneficiaries upon a parent’s death can question the intent or delve into confusion and rage. This time, it wasn’t the case. The drama here revolves around spending.
When a loved one dies, you’re not thinking clearly enough to make big financial decisions. So it’s completely understandable that the Redditor’s brother is regretting his purchases.
However, why is he blaming others for it? It’s not that he was persuaded to blow it. On the contrary, judging from the post, he was given numerous opportunities to do something else with the money.
Inheritance is one of those things that don’t come our way often, and this case is an excellent reminder to try and make the most out of it.
As the story went viral, its author joined the discussion in the comments
Most people think he did nothing wrong
But some have a problem with him becoming a landlord
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What do you think ?
Kylie 1 year ago
Gotta love people who think landlords are the scum of the earth. If not for landlords where would people live who can't afford to buy?
Papa 1 year ago
They think housing, food, cell phones, and who knows what else should be free to everyone. They're a little fuzzy on the details of how that would actually happen.
Load More Replies...
CanadianDimes 1 year ago
The YTA that accused him of tearing down a historic building made me laugh. It was built in the 1950s. It's not like he was tearing down a Tudor house built in the 1500s.
Dragons Exist 1 year ago
I'm American and even I know a 70 year old house isn't old
Load More Replies...
StumblingThroughLife 1 year ago (edited)
100% NTA. It's one of those "F U YTAers." How can anyone side with the 'gimme the money NOW' Brother? The OP made his choice, fairly bought his brother out & poured in his own savings to build the fourplex (not sure what it would be called in the UK, but if it's 4 houses joined together, then we call them 'terraced houses'). Edited to add: The OP DIDN'T 'trick' his brother into selling his half. He knew exactly the OP's plan for the old house. BP are nowadays typing Rage-Bait, and being just as bad as Reddit with this post's title.
Jen 1 year ago
Generally a 4plex is just an apartment building that looks like a house with 4 apartments in it. Often 2 on the first floor and 2 on the second. Each will have a small deck and shared yard space and assigned parking. When they are 4 side by side it is called a set of townhouses.
Load More Replies...
Gwyn 1 year ago (edited)
What is it with these people who hate on landlords? Sure some are crooked but there are many who charge reasonable rates and keep up the homes well and provide a much needed service. We need people to do this as not everyone can afford their own home or handle the maintenance of one. If landlords are taking advantage of people, over charging and letting the place go to hell for lack of repair, then the real problem is the government allowing it to happen, not putting through needed law and not enforcing the laws that protect renters.
StumblingThroughLife 1 year ago
⏫👍. Rent is usually based on WHERE the property is situated, and the condition of it, so unless they know exactly where the houses are located, how can they moan about the cost? The difference between a terraced house of the same size in the UK depends on location. You could rent a Studio flat in Inner London for a MIN of £2,000 pcm (probably small), and a three-bed house in Shropshire for £1,000 - that's what my son pays for his new-build semi-detached 3-bed ).
Load More Replies... María Hermida 1 year ago
Sometimes I can't help loving how stupid people can be. Like the person who posted "she (the mother)'s trying to create financial equity between her children". In the name of God, why should there be financial equity between them when one of them risked his savings and the he other one just wanted the money fast? Life is not fair. They had the opportunity to share a business, but one brother declined to participate. You can argue the business is legal but a little unethical, but the mother doesn't seem yo be worried about ethics. She only wants a share of somebody else's money. Besides, the mother should have tried to make some arrangements for her own retirement, instead of threatening the only member of the family with an ounce of brain when there's nothing in her will. I would share if my family were very poor and I got a lot of money somehow, but it sounds as if these two leeches just feel entitled to OP's money because they happen to be relatives.
Kate Johnson 1 year ago
So brother is a stupid, short sighted, wastrel that in now whining "unfair" because he made a poor choice about this property and mother is threatening the only intelligent child she has? I absolutely LOVE that OP told her that he would then feel no obligation in the future to help her out! I'm sure that worried her as she was probably counting on the competent son to bail her out. Guess she'd better hope her worthless wastrel son starts stepping up your too bad, so sad for mom.
Weim Central 1 year ago
I commend your use of wastrel. So descriptive and should be used more often!
Load More Replies...
Israel Martinez 1 year ago
I don't get the hate for him being a landlord ... he still has a mortgage to pay and once he's done, he may end up providing a discount to the loyal tenants or reducing the rent for future tenants ... either way, seems they're just mad they don't have the means to do the same thing ...
KathyT 1 year ago
Landlord hate sounds like ignorance and sour grapes. A lot of millennials don't even want to be tied to one property because they want freedom. In that case, what are they to do to be housed.
Rafael 1 year ago
What are your sources for "a lot of millennials"? Because from where I'm standing, it is impossible to buy any house without a leg up from family., and I'm not even a millennial!
Load More Replies... Kylie 1 year ago
Gotta love people who think landlords are the scum of the earth. If not for landlords where would people live who can't afford to buy?
Papa 1 year ago
They think housing, food, cell phones, and who knows what else should be free to everyone. They're a little fuzzy on the details of how that would actually happen.
Load More Replies... CanadianDimes 1 year ago
The YTA that accused him of tearing down a historic building made me laugh. It was built in the 1950s. It's not like he was tearing down a Tudor house built in the 1500s.
Dragons Exist 1 year ago
I'm American and even I know a 70 year old house isn't old
Load More Replies... StumblingThroughLife 1 year ago (edited)
100% NTA. It's one of those "F U YTAers." How can anyone side with the 'gimme the money NOW' Brother? The OP made his choice, fairly bought his brother out & poured in his own savings to build the fourplex (not sure what it would be called in the UK, but if it's 4 houses joined together, then we call them 'terraced houses'). Edited to add: The OP DIDN'T 'trick' his brother into selling his half. He knew exactly the OP's plan for the old house. BP are nowadays typing Rage-Bait, and being just as bad as Reddit with this post's title.
Jen 1 year ago
Generally a 4plex is just an apartment building that looks like a house with 4 apartments in it. Often 2 on the first floor and 2 on the second. Each will have a small deck and shared yard space and assigned parking. When they are 4 side by side it is called a set of townhouses.
Load More Replies... Gwyn 1 year ago (edited)
What is it with these people who hate on landlords? Sure some are crooked but there are many who charge reasonable rates and keep up the homes well and provide a much needed service. We need people to do this as not everyone can afford their own home or handle the maintenance of one. If landlords are taking advantage of people, over charging and letting the place go to hell for lack of repair, then the real problem is the government allowing it to happen, not putting through needed law and not enforcing the laws that protect renters.
StumblingThroughLife 1 year ago
⏫👍. Rent is usually based on WHERE the property is situated, and the condition of it, so unless they know exactly where the houses are located, how can they moan about the cost? The difference between a terraced house of the same size in the UK depends on location. You could rent a Studio flat in Inner London for a MIN of £2,000 pcm (probably small), and a three-bed house in Shropshire for £1,000 - that's what my son pays for his new-build semi-detached 3-bed ).
Load More Replies... María Hermida 1 year ago
Sometimes I can't help loving how stupid people can be. Like the person who posted "she (the mother)'s trying to create financial equity between her children". In the name of God, why should there be financial equity between them when one of them risked his savings and the he other one just wanted the money fast? Life is not fair. They had the opportunity to share a business, but one brother declined to participate. You can argue the business is legal but a little unethical, but the mother doesn't seem yo be worried about ethics. She only wants a share of somebody else's money. Besides, the mother should have tried to make some arrangements for her own retirement, instead of threatening the only member of the family with an ounce of brain when there's nothing in her will. I would share if my family were very poor and I got a lot of money somehow, but it sounds as if these two leeches just feel entitled to OP's money because they happen to be relatives.
Kate Johnson 1 year ago
So brother is a stupid, short sighted, wastrel that in now whining "unfair" because he made a poor choice about this property and mother is threatening the only intelligent child she has? I absolutely LOVE that OP told her that he would then feel no obligation in the future to help her out! I'm sure that worried her as she was probably counting on the competent son to bail her out. Guess she'd better hope her worthless wastrel son starts stepping up your too bad, so sad for mom.
Weim Central 1 year ago
I commend your use of wastrel. So descriptive and should be used more often!
Load More Replies... Israel Martinez 1 year ago
I don't get the hate for him being a landlord ... he still has a mortgage to pay and once he's done, he may end up providing a discount to the loyal tenants or reducing the rent for future tenants ... either way, seems they're just mad they don't have the means to do the same thing ...
KathyT 1 year ago
Landlord hate sounds like ignorance and sour grapes. A lot of millennials don't even want to be tied to one property because they want freedom. In that case, what are they to do to be housed.
Rafael 1 year ago
What are your sources for "a lot of millennials"? Because from where I'm standing, it is impossible to buy any house without a leg up from family., and I'm not even a millennial!
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