I Need $372,255 ASAP

Question


Hi Scott,

How do I come up with $372,255 ASAP? I am 43 and going through a divorce and property settlement. My ex-husband has offered the house and 20 acres to me if I can come up with the money. But I am a low-income earner with no assets (other than my two gorgeous children) and no substantial savings. I am thinking I need to either go to the bank for a whopping loan or find some investors, and I am planning on subdividing 2 x 5 acres to pay them. Any suggestions would be greatly appreciated as I am out of my depth.

Claire

Scott's Answer


Hi Claire,

Don’t take on the house.

You can’t afford it, and, in the unlikely event you raise the dough, you’ll end up working round the clock and stressed out about your debts.

That’s not fair on your kids. They need you right now — they need all your focus and energy to help them through this really difficult time. So give it to them, and not to a pile of bricks, your husband, or your bank manager. The house doesn’t matter; instead focus on the dining room table you sit around each night as you talk with your kids, wherever that may be.

Scott