Can property be a loan collateral..?

[MichalOlszewski]

Hi to all!
I have the following question:

Can property be a loan collateral?

Specifically, a flat with an area of 98m2, located in Lublin, Poland (Voivodship City).

The value of the flat is approximately PLN 950,000 (~ USD 249,000).
Real estate free of debts, furnished and equipped with home appliances and electronics.

Who am I?

My name is Michał, I am 25 years old and I'm a doctor newbie.
In addition, I'm also an entrepreneur, I manage an international research team that develops psychotropic drugs based on medicinal marijuana, used in the treatment of eating disorders and affective disorders.

I invite to discussion

[1714477272]

1714477272

[1714477272]

1714477272

[1714477272]

1714477272

[jackg]

If someone is willing to accept it then yes and if you haven't got it on finance or anything.

You might be better off remortgaging it though if you really need money because their interest rates might be a lot lower than here (europe is about 1-10% pa now).

There'll be a lot more fees here now, normally you'll need to pay legal fees and a lender might want you to move out or pay rent before you've paid them back so the property is easier to reposess.

[MichalOlszewski]

I do not live in this flat, it is currently empty.

I'm thinking of a BTC loan because I can't apply for a bank loan..
Why?
Well, mistakes of youth .. As a 19-year-old I founded my first company and unfortunately I made debts that I haven't paid off for next two years.

Currently, all liabilities are settled, but my data appear in all possible registers of debtors. That means my scoring is very low and banks don't even want to talk to me 

I need money to complete my project's ICO work and "upgrade" research infrastructure. And I'm stuck and talks with potential investors are dragging on. : D

//PS. Sorry in advance for any grammatical errors

[jackg]

If you paid off all of your liabilities, I'd suggest writing to the loan companies and asking for them to write off your debts from your credit score. I've heard in a lot of cases they normally comply and if you've paid higher interest putting it off but still paid it, why wouldn't they?

Anyway back the the current issuer, if you can't find someone in your area that will give you a loan if you have good enough profits you could always part with some shares in order to fund upgrading your equipment (you might be able to add a buyback offer with them too).

[MichalOlszewski]

That is why we want to conduct an ICO ..

I look around, I wrote to loan companies, unfortunately they offer very bad conditions.

I entered this forum asking for a loan, but I'm also looking for people to cooperate with, crypto ninjas

[Vod]

As a 19-year-old I founded my first company and unfortunately I made debts that I haven't paid off for next two years.

How much debt did you accumulate?

[MichalOlszewski]

I had about $ 30k in total.

With the sale of an apartment is not a bad idea, I already try. But this is a rather complicated process

[ThatRandom8543]

I had about $ 30k in total.

You have $30k in debt yet have assets over $200k? You should be able to easily pay it off then, however go to a bank with the property as collateral and get a loan against it.

With the sale of an apartment is not a bad idea, I already try. But this is a rather complicated process

So if you already tried with no luck, how will a lender sell it in the event of a default? Using property as collateral, especially online with strangers, is more complex than you think and opens alot of issues for the lenders that isnt local. On top of that, they would have to visit the property, have it inspected, and get it valued, which all cost prior to any other agreement to use the property as collateral for such a loan.

[MichalOlszewski]

I guess you're right ..

It makes no sense to apply for a loan online.
I'm not credible here ..

Thank you for your advice! 

[DireWolfM14]

This user is phishing for a scam.  He's a liar, and it's highly unlikely he has any property to use for collateral.

How do I know he's a liar?  Easy.  He sent me this PM a few days ago.  Note the time stamp:

Hello,
I'm Michal Olszewski, CEO greED laboratories. Two days ago we talked about possibility of loan 15BTC which was to help us in further research and launch pre-ICO.

Is it still valid..? ☺️

You can catch me at:

mcholszewski@gmail.com
fb.com/molszewsky
0491632374966

Michal Olszewski MD

In this PM he claims we've had a discussion "two days ago" about some non-existent "greed laboratories" and a 15 btc loan.   Yet, he had only registered 46 minutes before sending this PM.

Date Registered: November 03, 2019, 02:57:32

[Pacific time zone (UTC -8) displayed.]

I've never had any interaction with this fool before receiving that PM, never heard of this fake business, and I've never been approached about a 15 btc loan.  All lies.

I'm quoting this for reference:

Hi to all!
I have the following question:

Can property be a loan collateral?

Specifically, a flat with an area of 98m2, located in Lublin, Poland (Voivodship City).

The value of the flat is approximately PLN 950,000 (~ USD 249,000).
Real estate free of debts, furnished and equipped with home appliances and electronics.

Who am I?

My name is Michał, I am 25 years old and I'm a doctor newbie.
In addition, I'm also an entrepreneur, I manage an international research team that develops psychotropic drugs based on medicinal marijuana, used in the treatment of eating disorders and affective disorders.

I invite to discussion

So, which is it?  Is he a 25 year-old doctor, or the CEO of "greed laboratories?"

[Archive]

Flag: https://bitcointalk.org/index.php?action=trust;flag=953

[NeuroticFish]

This user is phishing for a scam.

That was my thought also.

OP, property papers, the background check if they are mortgaged, the actual escrowing, all are difficult to be done properly and beyond doubt through 3rd parties over the internet.
So only a fool would accept to accept to loan money in such conditions and no proper escrow would accept that business.
The chance all this to finish in a scam is just too big.

[JollyGood]

Hi to all!
I have the following question:

Can property be a loan collateral?

Specifically, a flat with an area of 98m2, located in Lublin, Poland (Voivodship City).

The value of the flat is approximately PLN 950,000 (~ USD 249,000).
Real estate free of debts, furnished and equipped with home appliances and electronics.

Who am I?

My name is Michał, I am 25 years old and I'm a doctor newbie.
In addition, I'm also an entrepreneur, I manage an international research team that develops psychotropic drugs based on medicinal marijuana, used in the treatment of eating disorders and affective disorders.

I invite to discussion

You seem to be a jack of all trades because being an entrepreneur and a medical specialist as well as a newbie doctor as well as managing a team as well as collateral seeking crypto-newbie.

I do not buy your story. If you do ever log in to post here again make sure to include the name of your company because I cannot locate it.

Also you seem to have purchased your property at a relatively young age so rather than use it as collateral why not sell it?

I think DireWolfM14 has made an excellent post about you. Sending out unsolicited emails and then trying to fool people by starting a thread was a silly thing to do.

[The-Register]

I find his story a little far fetched and everything screams scam at me.
even though I know someone that is a young CEO and has a doctorate who is a self-made millionaire they can be an entrepreneur so no good attacking him that way.
one thing though is that I have never seen Michal spelt that way so checked it out and find its commonly a females name, hmmm interesting. (Michal was, according to the first Book of Samuel, a princess of the United Kingdom of Israel;)

But hey Michal is you need any money to send me the deeds on the house and a document with a change over of ownership, I would gladly give you the 15 BTC after I make sure it's legit.
But as the experienced members here say "trust not "

[stompix]

one thing though is that I have never seen Michal spelt that way so checked it out and find its commonly a females name, hmmm interesting. (Michal was, according to the first Book of Samuel, a princess of the United Kingdom of Israel;)

It's a common Polish name, do your homework more diligently next time.

OP, property papers, the background check if they are mortgaged, the actual escrowing, all are difficult to be done properly and beyond doubt through 3rd parties over the internet.

Before any of that, start with a realistic price, 950k PLN for a flat in Lublin, hm...
But for only 15 BTC, it's a pretty attractive discount, wink wink!

[JollyGood]

~snip~

It's a common Polish name, do your homework more diligently next time.

The-Register user is an alt-account.

He seems to find it so amusing to post after me portraying himself as a genuine user but he has not revealed his real identity. Sadly he is obsessed with me because I helped expose the use of sock-puppets on several threads.

He left positive feedback for some the users I left negative trust for in the Zentoshi thread because of their use of sock-puppets and paid shills: https://bitcointalk.org/index.php?action=trust;u=2610120