I am looking to borrow 10,000 BTC to expand my current bussiness.

muyuu

donator

Activity: 980

Merit: 1000

Quote from: JusticeForYou on April 06, 2012, 03:37:54 PM

Quote from: hashking on April 06, 2012, 03:23:20 PM

It seems that people are worried because I'm willing to pay a high interest rate to borrow this money. The reason I'm willing to pay this high of a rate is because the funds that will be used will generate close to a 45% return for me on a worst case scenario with a possibility of it generating a 67% on the best case scenario. Also from my research this seems to be the going rate for this type of loan.

I find this funny and sad. You're willing to offer a collateralized instrument on an investment and offer a very reasonable rate of return. The nay sayers are dubious but they will have no questions about investing in a 30% or more per month program with no guarantees at all.

Hold your ground. Maybe post on ogrr.com forum also with a cross link. Something tells me someone from the EU will be interested if not the U.S.

(watching)

Collaterised instrument except no proof or contract is shown nor put in place. LOL.

I shouldn't have skipped all the obvious scam threads when they were breeding. I've missed a lot of fun.

padrino

legendary

Activity: 1428

Merit: 1000

https://www.bitworks.io

Bottom line is that if he owns his properties free and clear and has decent credit as stated any bank would drop him an equity loan with one of the investment properties as collateral, they don't ask nor care what you do with the money in that case..

exahash

sr. member

Activity: 278

Merit: 250

Quote from: DeathAndTaxes on April 04, 2012, 07:28:58 PM

Why would you be willing to accept 15% rate on $75K? Is your credit that awful?

So now it's 15% apr for $50k? Go to Fatwallet.com, look in the finance forum, read about AOR's. If you have even borderline good credit you should be able to get that much on 0% cc deals and keep rolling it for a couple years.

hashking

sr. member

Activity: 308

Merit: 250

Bump. Changed requested amount from 15,000 to 10,000 or $50,000 USD.

SgtSpike

legendary

Activity: 1400

Merit: 1005

Quote from: R- on May 09, 2012, 01:25:32 PM

Quote from: SgtSpike on April 06, 2012, 07:50:34 PM

Quote from: hashking on April 06, 2012, 07:12:01 PM

Quote from: SgtSpike on April 06, 2012, 06:55:35 PM

This makes me wonder if a BTC alternative to Prosper would be viable. Something that matches up lenders to people needing loans...

Last time I checked Prosper and Lending club only do up to 25,000. Usually for first timers loans are under 5,000.

This is true. It doesn't mean that a BTC counterpart should have such limitations though.

A Bitcoin equivalent of Prosper would be made difficult with the automatic anonymity Bitcoin features.

Why? The service itself wouldn't have to keep the borrowers and lenders anonymous.

R-

full member

Activity: 238

Merit: 100

Pasta

Quote from: SgtSpike on April 06, 2012, 07:50:34 PM

Quote from: hashking on April 06, 2012, 07:12:01 PM

Quote from: SgtSpike on April 06, 2012, 06:55:35 PM

This makes me wonder if a BTC alternative to Prosper would be viable. Something that matches up lenders to people needing loans...

Last time I checked Prosper and Lending club only do up to 25,000. Usually for first timers loans are under 5,000.

This is true. It doesn't mean that a BTC counterpart should have such limitations though.

A Bitcoin equivalent of Prosper would be made difficult with the automatic anonymity Bitcoin features.

Jaryu

member

Activity: 90

Merit: 10

Quote from: hashking on April 11, 2012, 05:55:40 PM

Quote from: JWU42 on April 11, 2012, 04:26:43 PM

Bump - anyone else willing to take 1/3 ($25K)?

Thanks for trying. It looks like this probably won't get done.

I know your pain, several years ago I lost several nice deals due to banks being A@@holes about doing perfectly good deals on easy to repair properties, sometimes hard money is impossible to get due to stupid terms like 60% of fully repaired value being one, it's really hard to find people selling their homes in any condition(good or crap) for less than 50% of their fully repaired value so you have repair funds on hand regardless of them being interest only loans(yay you don't pay the $50 principal on the $1000 payment :p). Based on the home prices you probably live around the SE, lots of homes for that price range that way.

zer0

sr. member

Activity: 350

Merit: 250

Quote from: hashking on April 11, 2012, 05:55:40 PM

Quote from: JWU42 on April 11, 2012, 04:26:43 PM

Bump - anyone else willing to take 1/3 ($25K)?

Thanks for trying. It looks like this probably won't get done.

Wait until the new #bitcoin-otc exchange opens up and try to sell bonds or something, if you have ratings there

hashking

sr. member

Activity: 308

Merit: 250

Quote from: JWU42 on April 11, 2012, 04:26:43 PM

Bump - anyone else willing to take 1/3 ($25K)?

Thanks for trying. It looks like this probably won't get done.

JWU42

legendary

Activity: 1666

Merit: 1000

Bump - anyone else willing to take 1/3 ($25K)?

JWU42

legendary

Activity: 1666

Merit: 1000

Oh well - worth asking...

brendio

hero member

Activity: 518

Merit: 500

Quote from: JWU42 on April 06, 2012, 12:14:04 PM

@Kluge & @brendio

Would you have any interest in all 3 of us taking the 75K (split in thirds)?

The trouble is, my funds are currently tied up in other (short-term) investments, giving me greater than 15% annualised, so I don't have the free cash on hand, although I could come up with in if needed to pay out on a CDS. Also, for diversification, I probably wouldn't lend more than $10k.

SgtSpike

legendary

Activity: 1400

Merit: 1005

Quote from: hashking on April 06, 2012, 07:12:01 PM

Quote from: SgtSpike on April 06, 2012, 06:55:35 PM

This makes me wonder if a BTC alternative to Prosper would be viable. Something that matches up lenders to people needing loans...

Last time I checked Prosper and Lending club only do up to 25,000. Usually for first timers loans are under 5,000.

This is true. It doesn't mean that a BTC counterpart should have such limitations though.

hashking

sr. member

Activity: 308

Merit: 250

Quote from: SgtSpike on April 06, 2012, 06:55:35 PM

This makes me wonder if a BTC alternative to Prosper would be viable. Something that matches up lenders to people needing loans...

Last time I checked Prosper and Lending club only do up to 25,000. Usually for first timers loans are under 5,000.

SgtSpike

legendary

Activity: 1400

Merit: 1005

This makes me wonder if a BTC alternative to Prosper would be viable. Something that matches up lenders to people needing loans...

hashking

sr. member

Activity: 308

Merit: 250

Quote from: vampire on April 06, 2012, 05:04:33 PM

Quote from: Tomatocage on April 06, 2012, 03:40:30 PM

Seriously? You own rental properties and can't come up with 75 large? I rent a 1-bedroom apartment and drive a clapped out Cavalier and I can almost come up with that much money in 24hr notice. I noticed that straight out of the newbie section you headed right to Lending too. You're a walking contradiction IMHO.

75K is a large sum. He buys properties in very bad condition, I assume does some kind of repairs, and then rents them out to section 8. My grand parents did that for some time, not that profitable as you think. Also as far as I recall, Section 8 doesn't pay 100% of the rent. So the rest is up to the renter, a lot of times they wouldn't pay their part.

Not all properties I buy are in horrible condition. I have bought some that only need a little bit of work and are ready for rent. I can't speak on why your grandparents had so many issues, but in the state I live in the tenants are held responsible for their actions. Some have a rent portion and some don't. If they decide they don't want to pay or decide to cause trouble they will lose their housing assistance. I have never had to evict any of these tenants. They always pay because they need a roof over their head.

vampire

hero member

Activity: 574

Merit: 500

Quote from: Tomatocage on April 06, 2012, 03:40:30 PM

Seriously? You own rental properties and can't come up with 75 large? I rent a 1-bedroom apartment and drive a clapped out Cavalier and I can almost come up with that much money in 24hr notice. I noticed that straight out of the newbie section you headed right to Lending too. You're a walking contradiction IMHO.

75K is a large sum. He buys properties in very bad condition, I assume does some kind of repairs, and then rents them out to section 8. My grand parents did that for some time, not that profitable as you think. Also as far as I recall, Section 8 doesn't pay 100% of the rent. So the rest is up to the renter, a lot of times they wouldn't pay their part.

ineededausername

hero member

Activity: 784

Merit: 1000

bitcoin hundred-aire

Quote from: Tomatocage on April 06, 2012, 03:40:30 PM

I noticed that straight out of the newbie section you headed right to Lending too.

Except he was handing out loans, not begging for them.
Have you seen so many scammers that you don't even think before judging people?

JWU42

legendary

Activity: 1666

Merit: 1000

Quote from: JusticeForYou on April 06, 2012, 04:09:01 PM

Quote from: JWU42 on April 06, 2012, 03:55:07 PM

Quote from: JusticeForYou on April 06, 2012, 03:37:54 PM

I find this funny and sad. You're willing to offer a collateralized instrument on an investment and offer a very reasonable rate of return. The nay sayers are dubious but they will have no questions about investing in a 30% or more per month program with no guarantees at all.

Hold your ground. Maybe post on ogrr.com forum also with a cross link. Something tells me someone from the EU will be interested if not the U.S.

(watching)

30%+ programs for BTC loans (say $1K tops) ... I am NOT investing $75,000 USD Wink

Ok, we are getting somewhere. It isn't the offering; it is the Amount that deters you. Understood.

Yep - That is why I was proposing 3 go in for 25K each...

JusticeForYou

vip

Activity: 490

Merit: 271

Quote from: JWU42 on April 06, 2012, 03:55:07 PM

Quote from: JusticeForYou on April 06, 2012, 03:37:54 PM

I find this funny and sad. You're willing to offer a collateralized instrument on an investment and offer a very reasonable rate of return. The nay sayers are dubious but they will have no questions about investing in a 30% or more per month program with no guarantees at all.

Hold your ground. Maybe post on ogrr.com forum also with a cross link. Something tells me someone from the EU will be interested if not the U.S.

(watching)

30%+ programs for BTC loans (say $1K tops) ... I am NOT investing $75,000 USD Wink

Ok, we are getting somewhere. It isn't the offering; it is the Amount that deters you. Understood.

Topic: I am looking to borrow 10,000 BTC to expand my current bussiness. (Read 5381 times)