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Title: The rich are different from you and me........... Post by: droner on October 27, 2014, 07:55:18 EDT They not only have more money, they have more cash.
I have a client buying a $500,000 house this week and he called and asked if he could bring cash. Uh,.....no. Title: Re: The rich are different from you and me........... Post by: BGHarper on October 27, 2014, 08:01:47 EDT Bringing 500 k in cash is very, very and VERY different! Being rich must be an entirely different world! I cant wrap my economically poor mind around that one! :laugh:
BG Title: in pennies Post by: NC Enginerd on October 27, 2014, 08:28:39 EDT nm
Title: Re: The rich are different from you and me........... Post by: 10EC on October 27, 2014, 08:51:18 EDT They not only have more money, they have more cash. I have a client buying a $500,000 house this week and he called and asked if he could bring cash. Uh,.....no. Because of safety only? Title: Re: The rich are different from you and me........... Post by: BanditVol on October 27, 2014, 08:58:17 EDT They not only have more money, they have more cash. I have a client buying a $500,000 house this week and he called and asked if he could bring cash. Uh,.....no. I offered to bring my $58K downpayment in cash...as a joke. The attorneys were not amused. :biggrin: Title: Re: The rich are different from you and me........... Post by: droner on October 27, 2014, 09:27:54 EDT I offered to bring my $58K downpayment in cash...as a joke. The attorneys were not amused. :biggrin: Nope, we don't want to see cash. Unless it's my fee. :biggrin: Anything 10K or over and I have to fill out an IRS form documenting where I got it and where the client got it. And if the cash is a large enough amount, you might get a visit from not only the IRS but also Homeland Security. Title: Re: The rich are different from you and me........... Post by: Jedi Master on October 27, 2014, 09:30:11 EDT Quote I have a client buying a $500,000 house this week and he called and asked if he could bring cash. Uh,.....no. How else is Scarface or any other self-respecting drug dealer gonna buy a home? :naughty: Title: Re: The rich are different from you and me........... Post by: RIPLEYVOL on October 27, 2014, 10:52:46 EDT Here is a recent abuse of power from big brother!
http://www.nytimes.com/2014/10/26/us/law-lets-irs-seize-accounts-on-suspicion-no-crime-required.html?_r=0 Title: Re: The rich are different from you and me........... Post by: murfvol on October 28, 2014, 06:02:00 EDT Where does one get $500k in cash? Presumably the local credit union isn't going to dole it out on request. That's why there are cashier's checks.
Title: Re: The rich are different from you and me........... Post by: droner on October 28, 2014, 06:13:18 EDT Where does one get $500k in cash? Presumably the local credit union isn't going to dole it out on request. That's why there are cashier's checks. That is a question that I wouldn't ask. Some people deal in cash that never sees the bank or credit union. Or IRS 1040. A few years ago I had a client that ran a local burger joint. He was buying a $65,000 house for his daughter. He came to the closing with this brown paper bag full of cash. The bottom of the bag was so soaked in hot dog grease that the cash was almost falling out. I told him I wasn't accepting 65K in cash and that he had to go get a cashier's check. He came back with about 10 cashier's checks. He had been to every bank in town. I suppose people like that just skim a little off of the receipts each day and let it pile up. I don't know what the client with 500K was doing. And I didn't ask. Title: Re: The rich are different from you and me........... Post by: HerbTarlekVol on October 28, 2014, 09:39:21 EDT And I didn't ask. Good decision. Pulling a SCT Schultz in that situation is wise. Title: Re: The rich are different from you and me........... Post by: Black Diamond Vol on October 29, 2014, 12:29:55 EDT Was he a mild-mannered high school chemistry teacher?
(http://static1.businessinsider.com/image/521246dbecad045f3b00001b-960/breaking-bad-money-pile.png) Or perhaps a bammer football recruit? :dance: (http://3.bp.blogspot.com/-Jrt-mfsJtww/UfV191XmeOI/AAAAAAAAFDs/Sx_ncU8kEcY/s320/liner.png) |