Chapter 13 - RYAN’S DEBTRyan earned good money.
$145,000 salary as regional sales director.
So why gamble on property?
Because he wanted more.
Not only money.
Status.
My father’s trust made him feel poor.
He never said it at first.
Then after Dad died:
“Your family always has a safety net.”
Later:
“Must be nice knowing the house is covered.”
Then:
“I don’t want to live in something your father gave us forever.”
I thought pride.
It became resentment.
Bennett Property Ventures was his answer.
Build something himself.
He purchased a distressed property with Linda.
It went badly.
Debt accumulated.
Credit cards:
$74,000.
Business loan:
$190,000.
Contractor judgment:
Potential $160,000.
The $640,000 home-equity loan would reset everything.
Using my trust residence as collateral.
Temporary, Ryan would later claim.
He planned to refinance after redevelopment.
May you like
No one loses anything.
The favorite sentence of people gambling with assets they do not own.
