Feeling guilty about success from dad...

[Landon Elscott]

Let me begin by stating I know deep down inside my dad is ridiculously proud of me and wants me to reach my dreams and potentials, but in light of a freak flood last summer that destroyed their home I can't help but feel guilty.

I've been wanting to buy rental property for 3 years or so, and finally found myself in a position it might just all work out. But in November my parents lost their home through "Deed in Lieu" after a freak flood created immense damages. Unfortunately, they didn't have flood insurance because at the time the community was not part of the national flood insurance program or something like that and the chance of flooding was considered very, very rare - not 7' worth in the basement!

Unfortunately, he's also been dealing with a brain tumor and after adding it all up, it just was not feasible to fix it all and they let the house go. It'll be another 3 years to qualify for USDA and they don't have 20% to buy much earlier because of medical bills.

Originally, I saw an opportunity to become a "straw buyer" and purchase a small house under rent to own contract until they could buy it off me, but my dad just didn't feel comfortable having his son responsible for his home and that I couldn't afford one of their needs anyways in the area even after I suggested selling my Cobra to fund the down payment - but then he felt guilty about me sacrificing my car.

Anyways, right now their having trouble processing the idea that they lost over $100,000 in payments from this foreclosure, that their going to be without a home of their own for awhile, and any home they buy is going to be a fraction of what they used to own based upon wanting it paid off before retirement. The only silver lining is that with less home maintenance yo attend to his health is improving - he's 53.

Meanwhile, I'm 25, own a home and in the midst of this am attempting to secure a second home. I know he understands I don't intend this as a slap in the face, but amidst their struggles I can't help but feel guilty for trying to achieve more...

I love my dad and I think I'm the man he wants me to be. I want to just pull the trigger on a good deal, manage the risk and perhaps succeed and not regret never trying, but in light of their situation i get the sense its emotionally a bad time but financially a good one for me.

Just wanted to get that off my chest. Anybody sympathize?