Daniele Gates Roasts Critics, Defends Financial Plans After Bankruptcy Revelation
During last weekend’s episode of 90 Day Fiance: The Other Way, Daniele delved into Yohan’s business and finances.
What she saw worried her. Part of it was concern about the actual product, but his financial situation left her scratching her head.
Fans delved into Daniele’s finances, revealing a bankruptcy filing and a possible motive for her newfound desire to live in the DR. It all seems weird, especially if she’s turning down money with this move.
But despite questions and criticism from fans (and loved ones), Daniele is explaining that her plan makes solid financial success.
On Season 4, Episode 2, Yohan Geronimo brought Daniele Gates to see his butcher shop. He feels proud of his business, and hoped that his wife would feel the same way.
But when Daniele saw raw meat sitting out, unrefrigerated and in the open air, pride was not on her mind. The flies didn’t help, either.
Yohan insisted that this was no cause for alarm. Meanwhile, as he told her how normal this practice allegedly is in the DR, Daniele put the pieces together. This is why she has gotten sick so many times.
But the conversation about Yohan’s place of work was about more than just, you know, the existence of bacteria.
Daniele poured through Yohan’s books. They are married, after all, which means that one’s financial situation impacts the other’s. At least, in theory.
After transcribing his handwritten ledger into her budgeting software, Daniele expressed confusion. Yohan may work two jobs, but it certainly appeared to her that he’s spending more to run this business than he is making in sales.
Meanwhile, as we previously reported, it turns out that Daniele’s issues with the expense of living in New York was even greater than she shared.
Her living expenses, including her hefty rent (which she did mention on the show) exceeded her income by over $1,000.
Combined with other debts (including student loans), Daniele had a six-figure debt. And a bankruptcy filing. With that in mind, it’s much clearer why she was hoping for a fresh start in the DR.
Daniele has taken to her Instagram Story to address fan confusion. Why did she turn down more money by leaving New York? Why is the DR her best option?
“I’m getting a lot of feedback from people both I know in my real life and people I don’t know at all,” she acknowledged.
This is feedback “about my statement on the show about my pension and that I’m not really that worried about $15,000 a year.”
As we may recall, Daniele said goodbye to an extra $15,000, surprising her friends when she said that it was not that meaningful.
Daniele detailed a hypothetical plan to borrow $100,000 from her New York City municipal employee pension. She could invest that in a property in the Dominican Republic and rent it, she says, for $1,000 a week. Presumably to tourists.
Assuming that she has no expenses beyond that (somehow), she believes that one year could bring in $50,000.
“So in two years, that apartment will be paid off, right?” Daniele suggested. If all goes exactly as she imagines, maybe.
“So, let’s start there, I now have $100,000 in equity in real estate in two years and I’m currently 43,” she went on.
Daniele did factor in expenses, suggesting that she would make a $40,000 annual profit from being a landlord.
Daniele then ridiculed her critics, sarcastically asking “is $40,000 more or less than $15,000?”
She believes that her passive income plan will work. It certainly could, though it clearly comes with some risks.
Regardless, it sounds like Daniele is living in the DR. At least, all of her social media seems to hint at this.
Daniele Gates Roasts Critics, Defends Financial Plans After Bankruptcy Revelation was originally published on The Hollywood Gossip.