OH - Pike County: 8 people from one family dead as police hunt for killer(s) - #28

[rsd1200]

<modsnip> They also possessed multiple expensive trucks and trailers. They didn't "rough" it and save $175,000 at their age.

I'm sorry, but I laughed out loud. BBM, I agree. Sometimes, though, wealthy family members will finance dreams for grandchildren, or children. When it doesn't work out though, they'll sometimes let them suffer the consequences of a poor investment(s), and not throw good money after bad.

 

[GoofyJen]

There are many ways besides a mortgage to finance a purchase of a home. I have received all of my tax bills at my home since day one. While I am not going to delve into my personal finances here, I can tell you that I didn't get a mortgage or pay cash.

 

[rsd1200]

I've got family who I'd call "wealthy". Wouldn't know it if you met them. Their kids/grandkids were bought cars, homes, etc... If your home has been given to you, free and clear, as a gift, then you can take out loans against it to finance the purchase of trucks, and trailers, etc... If you have late taxes and it's holding up your sale going through then I'm thinking there might be a money issue. Look at all of those toys in those trailers. It's untold what they'd total in cash. I think he bought all of that to make S happy. JW said he'd also maxed out credit cards when he had to go to get custody of her. I think he enjoyed visits but maybe they'd never done anything "legal". So that was the kicker as to why he had to have a lawyer. It's usually no problem in determining who the mother is, at the hospital, when they record the birth cert.

He said he didn't want to draw attention to himself or to his daughter, but also didn't see a way out of the debt he has incurred since the homicide.
"These were not expenses I was supposed to have. I was just supposed to be able to spend time with her and give her a happy childhood, she is only 2 1/2 years old,'' Wagner wrote on the page of the crowd-fundraising site.

http://www.wkyc.com/news/local/ohio/rhoden-case-hate-seeing-my-daughter-cry/284711256

 

[Dudly]

There are many ways besides a mortgage to finance a purchase of a home. I have received all of my tax bills at my home since day one. While I am not going to delve into my personal finances here, I can tell you that I didn't get a mortgage or pay cash.

I know someone that works for his father. The father owns the house the son lives in and takes payments out of his son's wages to pay for the house.

 

[OsoTejano]

There are many ways besides a mortgage to finance a purchase of a home. I have received all of my tax bills at my home since day one. While I am not going to delve into my personal finances here, I can tell you that I didn't get a mortgage or pay cash.

I agree that there are other ways such as a gift or a loan from family, friends, or business associates, etc. This very well may have been the case with the 260 Peterson Road property. That said, the lack of a mortgage would suggest a cash sale or one of the alternative financing means. Some of these scenarios could have substantial implications for one or both sides of the financing arrangement. (Gift taxes, money that needs to be reported as income to the IRS, etc.)



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[OsoTejano]

I know someone that works for his father. The father owns the house the son lives in and takes payments out of his son's wages to pay for the house.

I've known people with similar arrangements from family. The key difference is who actually owns the property while it is paid off in work. In your example, the father owns the property and in the W's case the W brothers own the property.


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[RAISINISBACK]

Two young boys with no debts can save some serious cash quick with their jobs.
CDL truck drivers can expect to earn $66,000 a year on average. OTR CDL truck drivers earn the most, with salaries averaging $82,000 a year.
The median annual Diesel Mechanic salary is $50,865, as of March 31, 2017, with a range usually between $43,776-$55,844, however this can vary depending on a variety of factors.

How many young boys barely out of their teens would save that money they make?

 

[RAISINISBACK]

<modsnip> They also possessed multiple expensive trucks and trailers. They didn't "rough" it and save $175,000 at their age.

I do taxes for a ton of kids (boys and girls) under the age of 30. Some make well over a hundred grand a year and are not married and have no children. They don't own a house, but they drive new cars None have any investments or savings accounts. Believe me, if they did I would know about it since interest is taxable. Most don't even have a 401K. Some own travel trailers they drag to job sites, others such as traveling RN's don't even own that. The only way they save any money is if I make them adjust their withholdings and have extra taken out each week, so they get a huge refund (forced savings). Most don't even want to do that. I can't believe kids in Ohio are any different than they are here.

 

[RAISINISBACK]

To think I got audited this year over a tiny amount of legitimate business expenses makes me furious when this hinky stuff is going on.

Ouch. You saved your receipts right?

 

[RAISINISBACK]

I agree that there are other ways such as a gift or a loan from family, friends, or business associates, etc. This very well may have been the case with the 260 Peterson Road property. That said, the lack of a mortgage would suggest a cash sale or one of the alternative financing means. Some of these scenarios could have substantial implications for one or both sides of the financing arrangement. (Gift taxes, money that needs to be reported as income to the IRS, etc.)



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There is also rent to own arrangements. I don't know how many of you remember the big refundable tax credit given first time home buyers during the Bush era. Up to 8000.00 which went directly to the taxpayer. There were a lot of rent to own deals then. The property had to be transferred into the taxpayers name though or they couldn't get the credit.

 

[Dudly]

How many young boys barely out of their teens would save that money they make?

I know farm kids that raise hogs and cattle while still in high school. One restores and sells antique tractors, too. It isn't unusual for kids like that to have new trucks and enough money to buy a small farm before they are 20 years old. This is in rural Ohio.

 

[rsd1200]

I do taxes for a ton of kids (boys and girls) under the age of 30. Some make well over a hundred grand a year and are not married and have no children. They don't own a house, but they drive new cars None have any investments or savings accounts. Believe me, if they did I would know about it since interest is taxable. Most don't even have a 401K. Some own travel trailers they drag to job sites, others such as traveling RN's don't even own that. The only way they save any money is if I make them adjust their withholdings and have extra taken out each week, so they get a huge refund (forced savings). Most don't even want to do that. I can't believe kids in Ohio are any different than they are here.

I know a lot of folks well past their 30s who have made large sums of money, at good jobs, who ended up with zilch. Big companies used to pay pensions. It's up to everyone to save on their own now. Even with high paying jobs, a lot of folks, of all ages, live paycheck to paycheck.

Some just flat out blew it, some went to fast and too big into their dream business and how they bought it, and others just had terrible luck/timing/divorces, etc...

 

[IceIce9]

Public Service Announcement (from me):

If you don't want people to know where you are, don't allow FB to post your location.

This is is exactly why in my opinion I think the Alaska pictures are a decoy. I'm betting they are somewhere else and posted the Alaska pictures to throw everyone off their trail.

 

[Bootsctr]

Where could they be though, if not Alaska ? I think it depends on how much cash they were able to have on hand (maybe). Cash may not be a problem though.... Just don't know. Curious situation. I need a Leonard fix.

 

[WVWoman]

This is is exactly why in my opinion I think the Alaska pictures are a decoy. I'm betting they are somewhere else and posted the Alaska pictures to throw everyone off their trail.

But how did they have pictures of Alaska with the kids and everyone in them? I think they are there and really good for them. Until something more breaks they can travel.


[emoji237]Always My Own Opinion[emoji4]

 

[Gunslinging Granny]

I know farm kids that raise hogs and cattle while still in high school. One restores and sells antique tractors, too. It isn't unusual for kids like that to have new trucks and enough money to buy a small farm before they are 20 years old. This is in rural Ohio.

$175,000 farm in their early 20s? smh

 

[Dudly]

Time to take a break from this thread. It is just turning into another social media place. People want to disagree with facts but their opinion can't be questioned...

 

[rsd1200]

But how did they have pictures of Alaska with the kids and everyone in them? I think they are there and really good for them. Until something more breaks they can travel.


[emoji237]Always My Own Opinion[emoji4]

I think the answer may lie in that single picture.

 

[rsd1200]

Time to take a break from this thread. It is just turning into another social media place. People want to disagree with facts but their opinion can't be questioned...

I don't think it couldn't happen, but, two young boys, one probably with child support, and those big diesel trucks, and trailers. I've known farm kids who've helped take over the family farm when they were older, it's fairly common here, and I've known industrious young folks start with summer jobs and work up to bank presidents. It's just not the majority, but it does happen. Possibly pooled some money, but got in over their heads, especially when this happened to S's momma and JW had to change jobs.

 

[RAISINISBACK]

I think the answer may lie in that single picture.

I am 100% they are there or were there. I know just about where that photo was taken. Where they are now is anyone's guess, since they have had time to return home by now.

I hate laptops. They should be outlawed.