Loan with Collateral - Land

[goducks]

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!

[nejibens]

I don't think your collateral is valid, and also i believe no one will trust you for such big amount , especially with your newbie rank, and with your account created -most likely- just to ask the loan.

[goducks]

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.

[jacee]

Why not just get a loan from a bank somewhere in your area?
I don't think your collateral will be appealling to any lender ere as we mostly seek digital goods which can easily e handled and sold. On the other hand, land as a collateral is too complex. It's best if you seek loan personally rather asking it in here online.

[goducks]

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.

[goducks]

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.

[lemipawa]

First you need to move this thread at the Long-term loans section which can be found here https://bitcointalk.org/index.php?board=88.0
Then, summarize your story it's too long and not appealing, I almost lost interest in reading after 2nd paragraph
Much better if you can just post like this
Loan Amount:
Reason for Taking out a Loan:
Amount to be repaid:
Repayment Date:
Type of Collateral:
Bitcoin Address:
Credits to zazarb, I took those from his loan thread section

Then indicate open for discussion for the collateral. What you are offering is a physical collateral which means the person who will lend you must hold that land title or certificate.

Goodluck