Hell, only a month or two back he was still buying wagyu beef.
Walmart wagyu, he specified. Presumably to be "relatable" (and
suffering,
humble) but still super-duper hip and cool and 10 years out of date.
Buying from him gets you invited to his parties and he will let your side piece pose in front of his sports car.
Iirc, the car belongs to a different kitsch artist, Bill Mack, who lives in MN (whose party Nick attended with April not long ago, staying in a fancy (not fancy) Bloomington hotel). Waugh does not (
Canadian, eh?). Mack is the one with the Hollywood sign.
- ninjaed by
@daffodils
The bank is paying the property tax too. $8k in 2024. Paid on time so obvious he has escrow account.
Thought that was paid by Dad?
The garage takes half the house at least. But to be fair this is Minnesota, it's standard in rural areas to have enough space for the boat and snowmobiles (not assuming Nick has either of those).
To be fair, property records often omit the lower level - but in MN, walkout basements are a big thing. They aren't traditional basements - they don't show from the front, but they are ground-level in the back and often full of windows and light like any other floor. There's no way their house is only 2250 SF, probably 2x+ that. Even the shitty second house is bigger than that.
And lol, he wouldn't know how to take care of a boat. (Neither do I, but if I owned one, I would.)
Everyone I know puts their vanity cars away for the winter and drives their winter car. I guess I'm not surprised Nick wouldn't do that, but I did just kinda assumed everyone who lives somewhere with real winters knows about the winter car/summer car thing..and that all season tires don't really cut it and you need real winter tires.
Everyone does. Except Nick.
lol
Mack seems to prey on Boomers and Waugh the Gen X/elder millennials with extra money and no taste.
Ftfy!
I'm down to clown on Nick for poor choices and shit, but this is likely just the county appraisal district filing new appraisals and he protested the new value. Appraisal Districts will take every chance they have to fuck you hoping you won't protest it. This would be the one time the gubmint really was out to get him, and his ODD may have finally worked out for him. Or fuck, maybe an executor of the trust files a protest every time regardless, is that possible?
No reasonable person would protest a downward county/ tax district appraisal, bc the only thing it matters for is property taxes. And MN has bitchmade property taxes. Tax appraisals don't really directly impact price to sell.
A house "depreciating" just boggles my mind.
What happens when the house is sold, it covers the debts that Nick had. Will the rest of it go to him or does the bank pocket it for the pleasure of fucking him on a reverse mortgage?
Not a reverse mortgage. And if you sell, lender gets amount owed, and owner gets remainder (less transaction fees, etc.). He has half a million in equity in that house. But if it's sold via foreclosure, that fraction above the loan gets cleaved. If he can't get current/ figure out a loan modification with the lender on his own, he is probably wearing out his kneecaps begging mom for a rescue.
It's boggling because most add value to the home. You'll see in
the documents I uploaded most of the home's upgrades were done by the owner before Nick. He's the one that depreciated the home by his bullshit, like not fixing a kitchen sink cabinet. If that's the only thing "known of" that he didn't fix, imagine what else there is.
Homes usually go up in value, but not for this trust fund coke-head retard. So I understand your confusion.
My realtor buddy has explained to me the mortgage amount reported to be taken out is wrong. Everyone says $316k, but he took out almost the entire homes value. See below from Page 14 on
my original post [ also posted below ]. He bought the house for $650k. Loan is for 30yrs fixed rate. It was just $316k this year. He will owe more.
View attachment 6807598
What? It's a $316k mortgage, showing in your image as 34% of the deemed value. Estimated equity is near $600k (lendable equity ($475k) factors in LTV requirements for additional loans).
