50. Don’t Expect That Loan Back
His family was in dire financial straits. I loaned him over $10K. A couple of years later, he asks me about this car he really wants to buy and I suggested that maybe he might consider paying me back before spending on classic/collectible cars.
He went off on a rant and said that his wife (since the dire straight, they got divorced) stole the money from me and he was innocent and all sorts of other unrelated accusations.
That was the last I ever heard of him. Shame, we were as close as brothers for a very long time. His (ex) wife is still a good friend though.
Now I realize that you either DON’T do any business with friends and family, or you GIVE them the money and don’t expect it back.