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Author Topic: I am looking to borrow 10,000 BTC to expand my current bussiness.  (Read 4708 times)
Tomatocage
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April 06, 2012, 07:40:30 PM
 #41

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.

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April 06, 2012, 07:55:07 PM
 #42


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.

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30%+ programs for BTC loans (say $1K tops) ... I am NOT investing $75,000 USD  Wink

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April 06, 2012, 08:02:24 PM
 #43

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.
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April 06, 2012, 08:09:01 PM
 #44


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

Ok, we are getting somewhere. It isn't the offering; it is the Amount that deters you. Understood.

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JWU42
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April 06, 2012, 08:11:41 PM
 #45


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

Ok, we are getting somewhere. It isn't the offering; it is the Amount that deters you. Understood.

Yep - That is why I was proposing 3 go in for 25K each...

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April 06, 2012, 08:57:47 PM
 #46

I noticed that straight out of the newbie section you headed right to Lending too. 

Except he was handing out loans, not begging for them.
Have you seen so many scammers that you don't even think before judging people?

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April 06, 2012, 09:04:33 PM
 #47

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.

75K is a large sum. He buys properties in very bad condition, I assume does some kind of repairs, and then rents them out to section 8. My grand parents did that for some time, not that profitable as you think. Also as far as I recall, Section 8 doesn't pay 100% of the rent. So the rest is up to the renter, a lot of times they wouldn't pay their part.
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April 06, 2012, 09:32:38 PM
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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.

75K is a large sum. He buys properties in very bad condition, I assume does some kind of repairs, and then rents them out to section 8. My grand parents did that for some time, not that profitable as you think. Also as far as I recall, Section 8 doesn't pay 100% of the rent. So the rest is up to the renter, a lot of times they wouldn't pay their part.

Not all properties I buy are in horrible condition.  I have bought some that only need a little bit of work and are ready for rent.  I can't speak on why your grandparents had so many issues, but in the state I live in the tenants are held responsible for their actions.  Some have a rent portion and some don't.  If they decide they don't want to pay or decide to cause trouble they will lose their housing assistance.  I have never had to evict any of these tenants.  They always pay because they need a roof over their head.   
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April 06, 2012, 10:55:35 PM
 #49

This makes me wonder if a BTC alternative to Prosper would be viable.  Something that matches up lenders to people needing loans...
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April 06, 2012, 11:12:01 PM
 #50

This makes me wonder if a BTC alternative to Prosper would be viable.  Something that matches up lenders to people needing loans...

Last time I checked Prosper and Lending club only do up to 25,000.  Usually for first timers loans are under 5,000.
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April 06, 2012, 11:50:34 PM
 #51

This makes me wonder if a BTC alternative to Prosper would be viable.  Something that matches up lenders to people needing loans...

Last time I checked Prosper and Lending club only do up to 25,000.  Usually for first timers loans are under 5,000.
This is true.  It doesn't mean that a BTC counterpart should have such limitations though.
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April 07, 2012, 06:23:51 AM
 #52

@Kluge & @brendio

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

The trouble is, my funds are currently tied up in other (short-term) investments, giving me greater than 15% annualised, so I don't have the free cash on hand, although I could come up with in if needed to pay out on a CDS. Also, for diversification, I probably wouldn't lend more than $10k.

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April 07, 2012, 11:11:09 AM
 #53

Oh well - worth asking...


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April 11, 2012, 08:26:43 PM
 #54

Bump - anyone else willing to take 1/3 ($25K)?

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April 11, 2012, 09:55:40 PM
 #55

Bump - anyone else willing to take 1/3 ($25K)?

Thanks for trying.  It looks like this probably won't get done. 
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April 12, 2012, 12:35:19 AM
 #56

Bump - anyone else willing to take 1/3 ($25K)?

Thanks for trying.  It looks like this probably won't get done. 

Wait until the new #bitcoin-otc exchange opens up and try to sell bonds or something, if you have ratings there
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April 12, 2012, 04:40:57 AM
 #57

Bump - anyone else willing to take 1/3 ($25K)?

Thanks for trying.  It looks like this probably won't get done. 

I know your pain, several years ago I lost several nice deals due to banks being A@@holes about doing perfectly good deals on easy to repair properties, sometimes hard money is impossible to get due to stupid terms like 60% of fully repaired value being one, it's really hard to find people selling their homes in any condition(good or crap) for less than 50% of their fully repaired value so you have repair funds on hand regardless of them being interest only loans(yay you don't pay the $50 principal on the $1000 payment :p). Based on the home prices you probably live around the SE, lots of homes for that price range that way.
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May 09, 2012, 05:25:32 PM
 #58

This makes me wonder if a BTC alternative to Prosper would be viable.  Something that matches up lenders to people needing loans...

Last time I checked Prosper and Lending club only do up to 25,000.  Usually for first timers loans are under 5,000.
This is true.  It doesn't mean that a BTC counterpart should have such limitations though.

A Bitcoin equivalent of Prosper would be made difficult with the automatic anonymity Bitcoin features.
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May 09, 2012, 05:28:53 PM
 #59

This makes me wonder if a BTC alternative to Prosper would be viable.  Something that matches up lenders to people needing loans...

Last time I checked Prosper and Lending club only do up to 25,000.  Usually for first timers loans are under 5,000.
This is true.  It doesn't mean that a BTC counterpart should have such limitations though.

A Bitcoin equivalent of Prosper would be made difficult with the automatic anonymity Bitcoin features.
Why?  The service itself wouldn't have to keep the borrowers and lenders anonymous.
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May 12, 2012, 12:23:33 AM
 #60

Bump.  Changed requested amount from 15,000 to 10,000 or $50,000 USD.
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