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So I have known for a while a way to make a quite a bit of money and do it safely. No worries about a market crash. But since I have little cash to get started with I've been putting it off.
I thought about bank loans but I'm on disability so even though my credit is good my income is too low to qualify for any loan worth getting.
Then I figured I'd advertise in the paper for private loans. But what rate should I offer? If its too low no one will want to do it. If its too high people will just assume its a scam.
I'm asking the people who read this to reply with two numbers.
1) The first is the annual percentage at which you might be interested in making a private loan to someone?
2) What annual percentage is so high that you wouldn't bother with it because you would assume it is a scam?
There is no interest rate which would tempt me to make a personal loan to a stranger because doing so would be the height of stupidity and folly. Trying to imagine a "reasonable" rate is completely beside the point.
The first three sentences in the original post scream "scam" anyway. Is your "plan" to get loans from gullible people, then abscond with the money? Or to start a Ponzi scheme?
I'd love to invest, what is the maximum I can send you? Ever since my asbestos futures dried up I've been looking for the next sure thing.
Me too....wanna join me in buying some developmental property in Syria or starting a bed & breakfast in Somalia??? At the very least join me in buying some Venezuelan gov't bonds!
1) The first is the annual percentage at which you might be interested in making a private loan to someone?
Unsecured? No way and no how.
Any such loan scenario would HAVE TO BE based in my need... not theirs.
eg: if I had a property that just w/could not sell at a high enough price without taking back a mortgage.
ok I'll bite- we made a loan to a family member at 10%. we haven't exactly been paid back yet..................
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