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Do you have any you can recommend for something to be set up easily? I know PP sites have some periods of time and high interest rates. Trying to see what makes the most sense since I am only looking for something for roughly 2 weeks.
Happy to chat on linkedin, sure my professional career will make me look better in the eyes of investors. Thanks for bearing with me, rookie questions I know.
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No fair question, since the value of the land is only $11k it did not qualify for the minimum value to have loan against through the bank. I am up in Northern California while the land is in Southern California.
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Hey Guys,
I wanted to reach out here in the hopes of securing a two week loan. My question is can land be used as collateral? I own about 2.5 acres in Kern County (sot hot LA) which is worth about $11k. Before asking for details etc on a loan I wanted to see if this is acceptable. I read the forum rules and it wasn't clearly states. So please spare me before any negative feedback.
I have been here for over 2 years. Happy to chat on the forum, dm, etc if this is an option. I personally live in the Silicon Valley area and work for one of the prominent tech companies out here. Happy to connect on linkedin.
If this is an acceptable source of collateral I would like to speak. I have other options in mind, such as season tickets, or tangible items. Appreciate the help from you all, just trying to learn.
The period of the loan would be two weeks, until 5/18. And the amount seeking is .5 btc at current market value of this message. Open to discuss interest and loan terms, however wanted to see if this is even an option first.
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I could be willing to take a lower loan value to ensure extra % of profit for the lender if the loan were to default because as you said it could take a little more time to sell a piece of land. My goal is to keep the land, otherwise I would have sold it, but I would like to use it as collateral.
I have all proper documentation that I can share and we can go through all proper legal steps and escrow to ensure security for the lender. I know there is hesitation with being a new member here, but I have been on LBC for years and have a great history there. Any other places to go outside of the bank for a personal lender would be greatly appreciated.
Thanks once again.
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I tried going to my credit union, but for the loan I want the land needs to be valued at $25k or more. I understand it is not the most ideal form of collateral, but I was willing to do the legal paperwork and notary on my end to save the lender on fees.
It is the only asset I have that has significant value behind it besides my car. Like I said I live in San Francisco and work at Twitter so if anybody is in the area I am happy to speak in person as well.
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I was told to come to this site to try to find a possible lender. I understand your concern of being new here, but everybody has to start somewhere. Anything I can do to prove my legitimacy I am willing to provide.
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Hi Guys,
Resurfacing a question I had. I have a a piece of land worth ~$11k that I am looking to use as collateral. I am willing to prepare all legal contracts with proper notary to confirm legitimacy.
I am looking to refinance some debts and student loans until my sales commission check arrives on August 15th. In terms of credibility I work for Twitter and can confirm that via any social media platform or email from my personal work email.
In terms of interest I am willing to pay 1btc for the roughly 6-8 weeks loan. I would like to lock the loan in based on USD to avoid BTC price fluctuations, since the land is worth ~$11k I am looking for a loan of nearly 15btc (~$9k).
For reference the land is located in Kern County within Southern California in the USA. Due to the land value I was not able to get a loan for as high as I was looking for from the bank, would appreciate any help here.
Understand concerns with scammers on this website, so happy to prove legitimacy anyway I can (social media accounts, personal information, work information, etc). Thanks once again!
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No luck with the bank today, their offering is for land at a minimum of $50k in value to back a loan. I am open to hearing other offers. If located in the states a note from rocket lawyer will legally suffice. If outside of the states I am not too sure.
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Its a voucher you can put forth for any ticketing event. I have official email and proof from viagogo.
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Looking for a .15 loan for one week until 6/24 with repayment of .16. I can offer a Viagogo voucher (online ticketing site) worth $175euro as collateral. Please let me know if interested. I have official emails addressed to me from Viagogo issuing the voucher.
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Why not get a loan through a bank they will surely give you a loan if you have it backed by a large plot of land. Why do you feel it necessary to scheme around on a Bitcoin forum trying to get a loan instead of using traditional means . FYI no one is going to give you more than $5 on this forum especially with a scam story like yours.
Once again I will gladly go on Skype and screenshare everything to show you all proper proof just to spite you trying to accuse me of scam. Appreciate your two cents though, best of luck to you. |
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Is anybody here able to serve as an escrow service for this deal? Or know anybody who is in the US that could be of help here?
I am not an attorney, and I recommend that you seek the advice of qualified counsel for help with this transaction. With the above being said, most loans that are secured by real estate will entail the borrower sign both a Promissory Note that promises to repay the amount of the loan plus interest, as well as a Mortgage that will get recorded that will put a lien on the property that will allow the current assignee (if assigned, otherwise the original Mortgagee) to foreclose on the real estate in the event of a default. A title insurance company will generally guarantee there is a clear title as of a certain date, sometimes subject to certain conditions. It is very rare (I have never heard of this) for a lender, or someone on behalf of the lender, to hold the title to a property while there is an outstanding loan. It would probably be ill-advised for an escrow to hold title to the subject property because while they are holding title, they would be the owner of the subject property, which would likely cause them to be liable for any property taxes as they become due, and may be liable if someone gets injured on the subject property. I was thinking a promissory note would have been the best/easiest way. That is what I have done in the past with rocket lawyer, it is a tricky situation, but I think it can be done if the right person is willing to agree to doing some paperwork to ensure the collateral is safe for both parties. |
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Member Name: goducks
Loan Amount: 13btc
Loan Reason: catch up on past due bills which is accumulating interest until commission check is received in 8 weeks.
Interest Offered: 1btc
Pay Back Date: 8.15.16
Collateral Offered: 2.5 Acres of land worth nearly $11k in southern california.
Please see original loan request you posted for my comment. Let me know if you are interested. Thanks knight, awaiting your response. Knight, awaiting to hear your offer? I am sorry I am going to have to decline at this time. I had a friend out your way run the number on this property and it is not something I could take as collateral. I would do a loan for about $2,500 but it will cost you almost that amount to have the paperwork completed. So it is probably not worth it to you. Just a thought here, what if a rocket lawyer agreement (with notary) was completed? Is that an option? Just a thought here, go fuck yourself scammer. Excuse me? I may be new to this website, but please do not disrespect me like that. Unlike others, I am willing to confirm all measures to show off my positive track record outside of this website. Please do not use that tone with me again. |
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Member Name: goducks
Loan Amount: 13btc
Loan Reason: catch up on past due bills which is accumulating interest until commission check is received in 8 weeks.
Interest Offered: 1btc
Pay Back Date: 8.15.16
Collateral Offered: 2.5 Acres of land worth nearly $11k in southern california.
Please see original loan request you posted for my comment. Let me know if you are interested. Thanks knight, awaiting your response. Knight, awaiting to hear your offer? I am sorry I am going to have to decline at this time. I had a friend out your way run the number on this property and it is not something I could take as collateral. I would do a loan for about $2,500 but it will cost you almost that amount to have the paperwork completed. So it is probably not worth it to you. Just a thought here, what if a rocket lawyer agreement (with notary) was completed? Is that an option? |
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Is anybody here able to serve as an escrow service for this deal? Or know anybody who is in the US that could be of help here?
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Member Name: goducks
Loan Amount: 13btc
Loan Reason: catch up on past due bills which is accumulating interest until commission check is received in 8 weeks.
Interest Offered: 1btc
Pay Back Date: 8.15.16
Collateral Offered: 2.5 Acres of land worth nearly $11k in southern california.
Please see original loan request you posted for my comment. Let me know if you are interested. Thanks knight, awaiting your response. Knight, awaiting to hear your offer? |
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Loan Amount: 13 btc (would like to do USD based loan)
Reason for Taking out a Loan: credit card consolidation, until commission check is awarded in mid August
Amount to be repaid: 14
Repayment Date: August 15th
Type of Collateral: 2.5 acres of land in Kern County (located in Southern California)
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Member Name: goducks
Loan Amount: 13btc
Loan Reason: catch up on past due bills which is accumulating interest until commission check is received in 8 weeks.
Interest Offered: 1btc
Pay Back Date: 8.15.16
Collateral Offered: 2.5 Acres of land worth nearly $11k in southern california.
Please see original loan request you posted for my comment. Let me know if you are interested. Thanks knight, awaiting your response. |
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I would be willing to do a loan with this land as collateral, however I could not do that much. The land value may be that, but there are legal fees and repossession/forclosure in the case you do not repay. If you would accept a lower amount for a loan, please not this. Also please note what the loan will be used for.
What is your offer if you would like to do it for lower? |
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