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Author Topic: BTC Loan - Collateral Provided  (Read 57 times)
goducks
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May 05, 2018, 04:37:50 PM
 #1

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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TheUltraElite
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May 05, 2018, 05:26:15 PM
 #2

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.

For securing something such as land as a collateral you would need somebody local in order to complete the loan for you. I dont think anyone here is going to take the risk of IRL identification even if they live nearby.

On another note, why not go to the local banks and offer the land to be mortgaged and obtain a loan? Why come to the bitcointalk forum to get a loan? I am sure banks would be happy to provide it - provided you go through all formalities. Just wondering.

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goducks
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May 05, 2018, 05:28:11 PM
 #3

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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May 05, 2018, 05:31:51 PM
 #4

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.

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.



You should do it locally with someone because doing it online is costly and not as easy since people need to travel there, which would be more than what youre asking. You should try a P2P lending site where they could take the land into account.
goducks
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May 05, 2018, 05:46:47 PM
 #5

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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