Comments by "David Himmelsbach" (@davidhimmelsbach557) on "Taylor The Fiend" channel.

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  25. Texas uses the US dollar. The gentleman is paying over 2,500 between health insurance for the two kids and straight out child support. He is a minority owner -- probably just 20% -- because that's the typical split between an 'angel investor' (typically an attorney, accountant, dentist, etc.) and the 'talent.' The 'angel' wants the property in his name, collecting rent, tax benefits -- not considered passive income because he's an active at risk owner-operator and this is all on an 1120S Return. This set up is much more favorable to the 'angel' than the securities markets. As the 'talent' the gentleman's salary is set by the 'angel' -- he has practically no say about it. He's likely to be under contract to that corporation -- same as a Hollywood talent to a film studio. All of the start-ups are TINY -- and have no chance of throwing off cash which, if any, will have to go to lenders first. The man knows trucking and truckers -- and has decided to start lending/financing trucks -- sold off his lot -- but has to borrow to carry this off. This gives him extreme leverage, but puts him at great risk, and the moment any cash comes in -- it goes straight to the lender/banker. (Such funds are commonly available from Ford Motor Credit and its peers -- too many to list. Even State Farm engages in such financing -- but it only wants to handle the paperwork -- not the risk, the repos, etc. A repo of a commercial truck may happen in 48 states + Canada. They're not like personal cars.) In sum, the dude has absolutely no hidden income/ cash flow to send off to her. It must be obvious that she's a total flake, financially, and is too ditzy to obtain a decent job. Texas has a strong economy, especially in oil country. (West Texas) The teenagers don't need a babysitter. It's also obvious the divorce occurred years ago, probably six plus. Say what you will, the divorce courts routinely give the ex-wife a % of the man's income -- but only if it goes up. If the man's wages collapse, the courts will NOT adjust downward -- even as their levy sends the dude to prison/jail or into the dark economy. I've seen it. Such guys can't obtain credit cards, their FICO has been destroyed. They often obtain fake IDs, open dark banking accounts, and do everything possible to not be electronically visible. Some are reduced to using Check Cashing Services... hence the explosion of that micro industry. The normal banking system is closed to them.
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