I am looking to borrow 10,000 BTC to expand my current bussiness. - page 2.

hashking

sr. member

Activity: 308

Merit: 250

Quote from: Tomatocage on April 06, 2012, 02:40:30 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.

Maybe you should make that call, get the funds in 24hrs and lend it to me and make a safe and healthy 15% annual return.

JWU42

legendary

Activity: 1666

Merit: 1000

Quote from: JusticeForYou on April 06, 2012, 02:37:54 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

Tomatocage

legendary

Activity: 1554

Merit: 1222

brb keeping up with the Kardashians

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.

JusticeForYou

vip

Activity: 490

Merit: 271

Quote from: hashking on April 06, 2012, 02:23:20 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)

hashking

sr. member

Activity: 308

Merit: 250

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.

JWU42

legendary

Activity: 1666

Merit: 1000

On $75K with some type of deposit insurance?

chungenhung

legendary

Activity: 1134

Merit: 1005

Quote from: hashking on April 05, 2012, 04:08:40 PM

Quote from: JWU42 on April 05, 2012, 03:52:18 PM

I wonder how many other places I can get 15% compounded annually. You would do a straight USD loan?

Pegging to USD helps but would just assume not buy 15,000 BTC just to return them to USD on your end a few moments later...

I can't even think of one place that would pay 15%. You are lucky to get 2% at a bank. I would also accept a straight USD loan.

actually there are two off the top of my head right now.

JWU42

legendary

Activity: 1666

Merit: 1000

@Kluge & @brendio

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

brendio

hero member

Activity: 518

Merit: 500

Quote from: Kluge on April 05, 2012, 11:17:02 AM

I'm willing to co-sign up to $5k. $15/$500 insurance. I trust HK, but am unwilling to tie up funds for the time required.

Hope it helps move things along. Cheers!

I'd be willing to do the same. I can provide evidence of financial backing if there is serious interest.

hashking

sr. member

Activity: 308

Merit: 250

Quote from: stochastic on April 06, 2012, 12:31:11 AM

Quote from: hashking on April 04, 2012, 06:47:00 PM

Quote from: Rothgar on April 04, 2012, 06:39:21 PM

Good point Death and taxes. A mortgage would be at 5% tops. This is a strange request indeed.

I'll just leave this here.

http://wiki.bitcoin-otc.com/wiki/Using_bitcoin-otc#Safety:_avoiding_fraud

A 5% interest rate would be nice. The properties that I purchase cost under 30K and need repairs. The traditional bank isn't willing to lend out money on a house that isn't liveable. As far as the fraud issue goes, I am willing to divulge all my business information as well as personal. I would also sign a promissory note so if I didn't pay someone could take legal action. My assets are a lot more then the loan that I'm asking for.

Can you take a loan out on an asset that is already paid for and use that money to buy/fix your new property?

The properties that I purchase cost under 30K and need repairs. The traditional bank isn't willing to lend out money on a house that isn't liveable. I have talked to a couple of loan officers and their response is that the banks don't really do these type of loans anymore. They are worried about lending out the money on a property thats not liveable, not receiving payment and being stuck with a house in a market that is already flooded with houses that can't sell.

stochastic

hero member

Activity: 532

Merit: 500

Quote from: hashking on April 04, 2012, 06:47:00 PM

Quote from: Rothgar on April 04, 2012, 06:39:21 PM

Good point Death and taxes. A mortgage would be at 5% tops. This is a strange request indeed.

I'll just leave this here.

http://wiki.bitcoin-otc.com/wiki/Using_bitcoin-otc#Safety:_avoiding_fraud

A 5% interest rate would be nice. The properties that I purchase cost under 30K and need repairs. The traditional bank isn't willing to lend out money on a house that isn't liveable. As far as the fraud issue goes, I am willing to divulge all my business information as well as personal. I would also sign a promissory note so if I didn't pay someone could take legal action. My assets are a lot more then the loan that I'm asking for.

Can you take a loan out on an asset that is already paid for and use that money to buy/fix your new property?

hashking

sr. member

Activity: 308

Merit: 250

Quote from: JWU42 on April 05, 2012, 04:57:39 PM

I wish I had more faith -- return is nice but not worth the risk on 75K.

If you could find 2 others I might be interested in 25K. I show that as a P&I of 866.63. 25K @ 15% over 36 months.

"Safer" investment than 2 mini rigs Wink

PM'd

JWU42

legendary

Activity: 1666

Merit: 1000

I wish I had more faith -- return is nice but not worth the risk on 75K.

If you could find 2 others I might be interested in 25K. I show that as a P&I of 866.63. 25K @ 15% over 36 months.

"Safer" investment than 2 mini rigs Wink

DeathAndTaxes

donator

Activity: 1218

Merit: 1079

Gerald Davis

Quote from: JWU42 on April 05, 2012, 03:52:18 PM

I wonder how many other places I can get 15% compounded annually. You would do a straight USD loan?

Propser and LendingClub.

Of course default rates are in the asinine range because obviously anyone more credit worthy would be getting a lower rate.

hashking

sr. member

Activity: 308

Merit: 250

Quote from: JWU42 on April 05, 2012, 03:52:18 PM

I wonder how many other places I can get 15% compounded annually. You would do a straight USD loan?

Pegging to USD helps but would just assume not buy 15,000 BTC just to return them to USD on your end a few moments later...

I can't even think of one place that would pay 15%. You are lucky to get 2% at a bank. I would also accept a straight USD loan.

JWU42

legendary

Activity: 1666

Merit: 1000

I wonder how many other places I can get 15% compounded annually. You would do a straight USD loan?

Pegging to USD helps but would just assume not buy 15,000 BTC just to return them to USD on your end a few moments later...

vampire

hero member

Activity: 574

Merit: 500

Quote from: gorgo1 on April 05, 2012, 01:41:57 PM

Seeing how people are more willing to make large loan requests I wish that people would make it easier for people like me to get single figure loans instead of making it difficult.I want rep by successfull payback of small loans.

Why don't you make a business outside of loans? HK does something else that loans, so should you. If you can't afford well $10.... then we know that you're broke.

Kluge

donator

Activity: 1218

Merit: 1015

Quote from: gorgo1 on April 05, 2012, 01:41:57 PM

Seeing how people are more willing to make large loan requests I wish that people would make it easier for people like me to get single figure loans instead of making it difficult.I want rep by successfull payback of small loans.

Will someone please lend to me here? https://bitcointalksearch.org/topic/fulfilled-looking-for-a-2btc-loan-74854.If interested please reply to my thread rather than here thanks. I will need loans in future to build my mining rig after this one.

HK has good rep among lenders (given he is a lender and talks with us), a solid plan, and plenty already invested in his venture. We know about where he lives. You have a request for a consumer/confidence loan (tend to be very high risk), a fuzzy plan, and nothing apparently invested in your venture. Your given payback date is right around today, yet you are still asking for the loan.

gorgo1

member

Activity: 61

Merit: 10

Seeing how people are more willing to make large loan requests I wish that people would make it easier for people like me to get single figure loans instead of making it difficult.I want rep by successfull payback of small loans.

Will someone please lend to me here? https://bitcointalksearch.org/topic/fulfilled-looking-for-a-2btc-loan-74854.If interested please reply to my thread rather than here thanks. I will need loans in future to build my mining rig after this one.

Kluge

donator

Activity: 1218

Merit: 1015

I'm willing to co-sign up to $5k. $15/$500 insurance. I trust HK, but am unwilling to tie up funds for the time required.

Hope it helps move things along. Cheers!

Topic: I am looking to borrow 10,000 BTC to expand my current bussiness. - page 2. (Read 5426 times)