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| would you lend money to a stranger? |
| Yes |
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20% |
[ 5 ] |
| No |
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80% |
[ 20 ] |
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| Total Votes : 25 |
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Message |
regicide
Joined: 01 Sep 2006
Location: United States
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 Posted: Sat Jan 19, 2008 4:40 am Post subject: Borrow money Lend money |
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There is a place that you can borrow up to $25,000 without going through a bank. ( you have to have good credit though)
And: And this is why I mention it--lend money in $50 increments to credit worthy borrowers and get a decent return on your investment.
Pretty slick operaton--you get your money back--with interest over the course of three years.
Build up your portfolio and retire in the Philippines or Thailand. ( $25,000 invested would get you an income stream of about a $1,000)
http://tinyurl.com/2sag2p |
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VanIslander
Joined: 18 Aug 2003
Location: Geoje, Hadong, Tongyeong,... now in a small coastal island town outside Gyeongsangnamdo!
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| Posted: Sat Jan 19, 2008 4:50 am Post subject: |
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| rushee and cashee |
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SuperHero
Joined: 10 Dec 2003
Location: Superhero Hideout
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| Posted: Sat Jan 19, 2008 1:33 pm Post subject: |
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| neither a borrower nor a lender be. |
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mindmetoo
Joined: 02 Feb 2004
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| Posted: Sat Jan 19, 2008 3:14 pm Post subject: |
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| Or ummm just put it in a mutual fund. The fund lends out the money and you get interest. |
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regicide
Joined: 01 Sep 2006
Location: United States
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| Posted: Sat Jan 19, 2008 3:30 pm Post subject: |
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| mindmetoo wrote: |
| Or ummm just put it in a mutual fund. The fund lends out the money and you get interest. |
I thought a mutual fund invested in a variety of common stocks or bonds. I guess a bond fund would pay interest ( from the bonds in the portfolio) , but stocks only pay dividends.
I have common stocks as part of my long term retirement scheme and believe in stock mutual funds wholeheartedly.
This is just food for thought. I have not lent money there yet , but if you look at the potential borrowers you will see that they have perfect credit, are often homeowners and have good reasons to borrow money.
What is attractive to me is that your money is returned over a three year period and since you only lend $50 to each individual, your risk is minimized.
That being said; this is not something for widows or orphans. |
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Beej
Joined: 05 Mar 2005
Location: Eungam Loop
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| Posted: Sat Jan 19, 2008 3:31 pm Post subject: Re: Borrow money Lend money |
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| regicide wrote: |
There is a place that you can borrow up to $25,000 without going through a bank. ( you have to have good credit though)
And: And this is why I mention it--lend money in $50 increments to credit worthy borrowers and get a decent return on your investment.
Pretty slick operaton--you get your money back--with interest over the course of three years.
Build up your portfolio and retire in the Philippines or Thailand. ( $25,000 invested would get you an income stream of about a $1,000)
http://tinyurl.com/2sag2p |
Wow. A whopping 4%. I would rather just keep the money in the bank and earn the same or a little more. |
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regicide
Joined: 01 Sep 2006
Location: United States
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| Posted: Sat Jan 19, 2008 3:41 pm Post subject: Re: Borrow money Lend money |
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| Beej wrote: |
| regicide wrote: |
There is a place that you can borrow up to $25,000 without going through a bank. ( you have to have good credit though)
And: And this is why I mention it--lend money in $50 increments to credit worthy borrowers and get a decent return on your investment.
Pretty slick operaton--you get your money back--with interest over the course of three years.
Build up your portfolio and retire in the Philippines or Thailand. ( $25,000 invested would get you an income stream of about a $1,000)
http://tinyurl.com/2sag2p |
Wow. A whopping 4%. I would rather just keep the money in the bank and earn the same or a little more. |
Is that from my example above? Getting back $36,000 over a three year term. I see that closer to 12% but take a look at the site--they are quoting returns of 9.49 to 12.81% Many loans pay 25% or more, but these are net rates after expenses and defaults.
If a lender defaults in this scheme , the debt goes to a collection agency and their credit is ruined. Since all have good credit coming in, this would be the last thing the borrower would want. |
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Bryan
Joined: 29 Oct 2007
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| Posted: Sat Jan 19, 2008 5:15 pm Post subject: |
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www.kiva.org
You aren't going to make money from Kiva. It's a microloan organization that lends to people trying to start or expand businesses in foreign countries. It's just interesting to see what people in Peru or Cambodia are able to do with a small amount of money. They only have a 0.2% default rate, so you get your money back.
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Can non-Americans loan money in Prosper.com? |
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regicide
Joined: 01 Sep 2006
Location: United States
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| Posted: Sat Jan 19, 2008 6:05 pm Post subject: |
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| Bryan wrote: |
www.kiva.org
You aren't going to make money from Kiva. It's a microloan organization that lends to people trying to start or expand businesses in foreign countries. It's just interesting to see what people in Peru or Cambodia are able to do with a small amount of money. They only have a 0.2% default rate, so you get your money back.
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Can non-Americans loan money in Prosper.com? |
Kiva sounds like a good organization and at this time they are limiting lenders to only $25 since they have too many willing lenders.
at prosper: http://tinyurl.com/2sag2p
you need a bank account. I would guess it would have to be an American or Canadian one but am not sure.
I havent' had a chance to see how Kiva works yet. |
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regicide
Joined: 01 Sep 2006
Location: United States
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| Posted: Fri Feb 01, 2008 2:12 pm Post subject: |
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| Bryan wrote: |
www.kiva.org
You aren't going to make money from Kiva. It's a microloan organization that lends to people trying to start or expand businesses in foreign countries. It's just interesting to see what people in Peru or Cambodia are able to do with a small amount of money. They only have a 0.2% default rate, so you get your money back.
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About Kiva.
The businesses on our site are always changing. They are being uploaded by our microfinance partners around the world. You can find a new business on the home page or on the Businesses 'In Need' page.
Step 2: Make a loan
When you have selected a business, you can make a loan using your credit card (via PayPal). You can loan as little as $25 at a time. Checking out is easy and safe because of PayPal.
directly to the website to keep you informed on the progress of the business. If you choose, you can receive these via email.
Step 4: Withdraw or re-loan
When your Kiva loan is repaid, you can choose to withdraw your funds or re-loan to a new business. |
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