Nicholas Robert Rekieta / Rekieta "Law" / Actually Criminal / @NickRekieta - Polysubstance enthusiast, "Lawtuber" turned Dabbleverse streamer, swinger, "whitebread ass nigga", snuffs animals for fun, visits 🇯🇲 BBC resorts. Legally a cuckold who lost his license to practice law. Wife's bod worth $50. The normies even know.

[BallBuster II]

If I'm getting this straight, he could theoretically still easily fix this by selling the lesser balldobunker and/or balldowagons and just paying the bank all the money back right? Because then this doesn't seem that dire, just looks bad. And in comparison to having a child test positive for cocaine most things don't look that bad.

I don't think it is that simple without an extension from the bank. He has a month before the sale of the main property, which means he would have to either sell the 2nd property as is immediately, or prep it in record time to maximize profits (he isn't doing that). I mean maybe real estate trends are hot in his area and it could go fast but I don't care enough to research it that deep.

 

[AStupidMonkey]

Please add if I forgot anything, but that list alone is enough.

Yes, you forgot "coke metabolites in daughter hair."

 

[Chirping Smoke Detector]

STMS TALKING ABOUT THE FORECLOSURE NOW:

Another win for the toe.

 

[LiquidKid]

Man, it's been such a slow period with all the big name cows. Weeks of quality mad at the internet and thread kinos to multi-week long droughts is absolutely brutal dopamine withdrawal.

If there is a harvest deity at play, need some fresh drama in some facets to spice things up. Just a mild prayer/thought thrown out there

Null took his move back to the US hiatus at the perfect time. He’d have nothing to cover if he were still doing MATI episodes right now

 

[Sharpeteer]

The face of paying $10K to be out on an unconditional bond so you can do all the drinking and drugs you want while waiting for your court date because you are a junkie and neglected your kids, and made one of your children test positive for cocaine, but couldn't pay what should be a simple monthly loan payment for you, and are now losing the crackshack.

 

[Mr E. Grifter]

What I fail to understand is how, 4 months after the Rittnhouse trial where Nick made a million dollars, he needed to borrow $300K. What was it for?

For me this is the interesting part in all of this. Smart people don't take loan out against their homes unless they are hard up on cash and there is a huge unexpected bill such as a medical expense that needs to be paid. None of which fit in context.

Unless this was a blatant cash grab to get as much money for drugs or other stupid shit, this is the sort of behaviour that makes me think he maybe thought it was a good idea to risk his fully paid up family home on some speculative venture, maybe he bought a bunch of shitcoin like Boogie did just before the market crash. Nick would never admit to doing anything so foolish, but its clearly the sort of risky behaviour he would engage in based on what he has done since.

 

[Cynically Insane]

It´s incredibly unlikely the first act regarding a delinquent payment is the foreclosure, mate. I understand it is possible according to MN law but c´mon...

If you think for a minute that lender's go above and beyond what is legally required according to the laws of the state then you must be new to this. In most states more than 95% of non judicial foreclosures are cured before the sale date. This is because many people have no idea where they actually stand until the process officially begins at county filing. IMHO non judicial foreclosures on primary residences should be illegal. (And I say this as a person whose knowledge on the topic comes from buying foreclosed properties.)

 

[hesaback]

wait, what? 60k? I find that hard to believe. Who is it by?
60k is the price you'd pay for work from a serious/'reputable' gallery backed artist.
What reputable artist paints the fucking joker lol.
That is worth $100 at a garage sale.

If you read the OP you will see a world of wonder of utter shit he has spunked money on over the last couple of years.

 

[Oxyjen]

If I'm getting this straight, he could theoretically still easily fix this by selling the lesser balldobunker and/or balldowagons and just paying the bank all the money back right? Because then this doesn't seem that dire, just looks bad. And in comparison to having a child test positive for cocaine most things don't look that bad.

He has sold the lesser baldo bunker. The problem appears to be that the buyer has a lengthy period to pay the amount, beyond the date where the main property will be auctioned (if I understood that right).

But again, it literally shouldn’t have come to this, he should have just paid the mortgage.

I’m sure this whole thing is a fit of petulance that the parents aren’t giving him the unlimited free money he thinks he deserves so he’s tarding out and smashing all his toys.

 

[Pargon]

Jesus fucking Christ, had a house free and clear and fucked it up for what?

This guy makes DSP look like a financial savant.

This is accurate. Phil bought his house in Seattle 2014, and kept hold of a condo in Connecticut solely out of laziness and still managed to avoid foreclosure on both despite regularly not paying on the condo. Rackets couldn’t keep hold on a piece of property for five years.

(Also lol what kind of man loses his home? Nick has no penis.)

 

[Burt Macklin]

The face of paying $10K to be out on an unconditional bond so you can do all the drinking and drugs you want while waiting for your court date because you are a junkie and neglected your kids, and made one of your children test positive for cocaine, but couldn't pay what should be a simple monthly loan payment for you, and are now losing the crackshack.

It's legitimately the story of an adult preschooler. Druggie husband and wife can't pay their trust fund bills and give two shits about their kids. Meanwhile, parents are off in literal Disneyland. Their kids are better off in foster care at this point.

 

[Thumb Butler]

If you read the OP you will see a world of wonder of utter shit he has spunked money on over the last couple of years.

He's a trust fund brat and knows nothing about the true value of money. Working for money, not me!

 

[Oxyjen]

I wonder how April is doing. I like to think she’s already moved in with a recently divorced Minnesota car dealership manager, has made up with her family, and is having an amazing wholesome Christmas season.

Not because she deserves anything nice, you understand, just because it would add to the feltening.

 

[TrainWreckWatcher]

Nick knows how to get out of this.

Time to find out where all the Wendys in spicer MN are.
Tricky Nicky they'll call him.

I guess it's time to sell that Joker painting.

If you are a guy in your 40s, buy a Joker Painting.
Go into debt if you have to
This is not satire. You can get a Joker Painting for 15 grand.

Having a nice joker painting communicates status to women and Rumble contracts.
And if you buy it right it will hold its value if not appreciate.

, he could theoretically still easily fix this by selling the lesser balldobunker and/or balldowagons

I hope he wrecks it. That would be the funniest thing ever. No one gets hurt, but the body is totaled and he forgot to pay insurance. I could see it happening. Slippery Ice while he revs the engine like an asshole down the stretch near his home.

 

[Owlbear]

Ok, so who's gonna take the plunge and buy the place?

I hear Null has $6k kicking around! To be honest, I would put a bid in if I could figure out how to do it with good opsec, but I doubt I would be offering enough to win. More seriously, if a valiant Kiwi would like to attend the auction, there may be a walkthrough of the balldo bunker, and some pictures and videos from that walkthrough would be some very sweet lolcow milk.

 

[Konstantin Romanov]

Usually, large art purchases are a means to dodge taxes.. It's POSSIBLE (albeit unlikely insofar as he has done everything else the wrong way) that a competent money manager/accountant advised him on how to use art purchases to reduce his tax liability in a high earning year... In any case, whatever he intended to do, you know the opposite happened.

The art tax dodge works by manipulating the valuation of art, you control an area of the art market (Warhols are famous for this), use your monopoly or cartel or whatever price influence you have to set valuation and then either donate the art to charity to write off your own fabricated valuation from your income or reduce the price to write off the depreciation. It's an insider's game, not something anyone can do their own garage sale version of. I sincerely doubt any accountant advised Nick to attempt this, because he has no such ability to manipulate valuations.

 

[Seymour Duncan]

I’m guessing we're not getting the 5k locals gift now, right?

Speaking of which, there's still a few hours of the 245th of May left. You still have time to fulfill your promised Locals streams, go get 'em tiger!

 

[KebabShopSauce]

I see a lot of people confused about some of these happenings, coming from the feature on the main page. I thought I'd knock up a little FAQ for people to get caught up - and to see how fucking stupid Nick really is.

Nick was making lots of money - why didn't he just pay off the mortgage?
He was paying for a very expensive lawyer from his defamation of Monty and the resulting lawsuit, and also paying for cocaine for his polycule. Don't forget his close friend Coomalot said he was spending upwards of 25k per month on drugs alone. Lets not mention his lavish spending on expensive whiskeys, paintings of DC comics characters for tens of thousands of dollars, vacations to swinger resorts, and his expensive sports car.

But wait, it gets better! the house was already paid for by his parents trust fund - This is another mortgage he took out on the property to give himself some extra liquid cash.

Why didn't Nick sell the other property sooner to cover the bills?
Because he was likely trying to scam Aaron Imholte into buying the house - conveniently for just over 300K -so that April could divorce him and take it in the settlement. April being Nick's 2nd wife in the polycule this would be a win-win for Nick, who would then no doubt convince her to sign the house back over to Nick and into his trust "to prevent the state from taxing it" or some stupid shit. Aaron said as much on his show and that he didn't fall for it, leading the house to go onto the market where it hasn't sold due to being a rundown wreck with a murdershower and a weird fishy smell.

Surely Nick can keep his house by declaring bankruptcy?
If only, but the house belongs to the Trust, not to Nick and so it isn't protected. Not to mention he would rather kill himself out of spite than humiliate himself like that.

How did this guy destroy his life so hard? he was so well adjusted and successful...
Common misconception - Nick was very good at scamming his internet following into believing this. The truth is that he is a loser and a failure who has survived on a trust fund his entire life. He was never successful as a Lawyer and has never held down a real job. The one success he found was with his streaming, where he was boosted by Dick Masterson at the height of his popularity due to the Maddox lawsuit. As soon as he made some real money from streaming (Depp and Rittenhouse), he immediately spent it all on drugs and ruined his entire life. The "hard times" before his law degree were him and his ghoul wife waiting for his grandparents to die to get some of that juicy trust fund, and I can assure you this - they wouldn't have let him starve while letting him "get his taste of the real world".

But Nick said his finances were secure? How could this happen?
He lies constantly. Another scam he has managed to pull on the internet is that he doesn't lie but he twists words and uses technicalities to hide the truth. This leads to people analysing his retarded lies trying to catch out his technicalities, however, Nick is not a masterful wordsmith tricking people with his lawyer speak - he is simply a liar, and a retard.

Is he really this much of a retard?
Yes.

 

[Rick Nekieta]

The art tax dodge works by manipulating the valuation of art, you control an area of the art market (Warhols are famous for this), use your monopoly or cartel or whatever price influence you have to set valuation and then either donate the art to charity to write off your own fabricated valuation from your income or reduce the price to write off the depreciation. It's an insider's game, not something anyone can do their own garage sale version of. I sincerely doubt any accountant advised Nick to attempt this, because he has no such ability to manipulate valuations.

Fair, I was just guessing because that's usually the game of people at 100 mil plus. I could see Nick trying and failing an extremely stupid variation of the devaluation argument, only to have it fail when it turns out he never had it valuated in the first place. He is literally that stupid. But you're definitely correct that no accountant would advise this, on or off any record.

 

[Poop Shoot]

$316,000 loan April 1st 2022.
$307.700 still owed.
30 year fixed was 4.75% on April 1st 2022.
That means he stopped paying his mortgage in either November or December of 2023.

lol.


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Do they still do interest only loans? I can see him taking one of those out because the monthly payments are lower while telling Kayla “look at all the money I’m bringing in, we can pay it off in one chunk later.”