| Is there a Place to Loan Money Out Safely in Short Time? |
|
|
|
|
|
angelvss
New Member
Cash: $ 0.65
Posts: 3
Joined: 09 Jan 2012
|
| Is there a Place to Loan Money Out Safely in Short Time? |
 |
|
The other day I had heard someone mention at work that they borrowed money, about $200 or so one week and it cost him about $30 the next week or so to pay back. I never borrowed money like this or went to one of those "fast cash" places but I was wondering is there a place (physically or the net) with a good reputation where I can be on the other side of this and loan the money out, like a couple of hundred or thousand and get a profit out of it in a month or less? Thanks.
|
Fri Jan 13, 2012 8:53 pm |
|
|
coaster
Senior Advisor
Cash: $ 1357.80
Posts: 6686
Joined: 11 Oct 2005
Location: Wisconsin
|
Yes, there are pools of investors who loan their money to high-risk borrowers for high returns. Research "peer-to-peer lending" Prosper and Lending Club are the biggies in this sphere, and they have good reps as well.
~Tim~
Eye Candy : Why Whimsy
|
|
Sat Jan 14, 2012 6:37 am |
|
|
eastmn
Senior Member
Cash: $ 81.20
Posts: 393
Joined: 04 Apr 2010
|
I did some reading on this topic and it appears that investors lose about 25% to defaults, but make up for it on the rest with the high fees. They still make good money. Sounds like rough business to be in (rough crowd).
...
Last edited by eastmn on Thu Jan 19, 2012 6:16 pm; edited 1 time in total |
|
Sun Jan 15, 2012 12:35 am |
|
|
coaster
Senior Advisor
Cash: $ 1357.80
Posts: 6686
Joined: 11 Oct 2005
Location: Wisconsin
|
You can choose your level of risk. 'Course, the returns aren't as high if you want to be safe.
~Tim~
Eye Candy : Why Whimsy
|
|
Sun Jan 15, 2012 5:58 am |
|
|
angelvss
New Member
Cash: $ 0.65
Posts: 3
Joined: 09 Jan 2012
|
Thanks for the helpful replies. Now when you say "level of risk" how much are you talking about and how long from start to finish you would get your money back plus the profit ?
|
|
Thu Jan 19, 2012 5:47 pm |
|
|
angelvss
New Member
Cash: $ 0.65
Posts: 3
Joined: 09 Jan 2012
|
Thanks for the helpful replies. Now when you say "level of risk" how much are you talking about and how long from start to finish you would get your money back plus the profit ?
|
|
Thu Jan 19, 2012 5:48 pm |
|
|
coaster
Senior Advisor
Cash: $ 1357.80
Posts: 6686
Joined: 11 Oct 2005
Location: Wisconsin
|
Those are all factors explained on the sites, and are variables that are under control of your choice.
"Risk" is defined as "probability of loss" and in terms of lending money, the risk is the probability of default, i.e. not getting the money you lent back. Since the loans are pooled, nobody loses 100%. You can figure your individual risk by taking your share of the default risk, which would depend on the number of investors in the pool and the amount lent by each investor.
~Tim~
Eye Candy : Why Whimsy
|
|
Fri Jan 20, 2012 4:39 am |
|
|
paultorres
New Poster
Cash: $ 0.40
Posts: 2
Joined: 06 Mar 2012
Location: London
|
quote:
Originally posted by coaster
Those are all factors explained on the sites, and are variables that are under control of your choice.
"Risk" is defined as "probability of loss" and in terms of lending money, the risk is the probability of default, i.e. not getting the money you lent back. Since the loans are pooled, nobody loses 100%. You can figure your individual risk by taking your share of the default risk, which would depend on the number of investors in the pool and the amount lent by each investor.
You got it right, the risk can be calculated and it varies from borrowers to borrowers, lend a small portion of your money to any particular borrowers is a better technique in general and if you have any question related to the loan request you can ask to the borrowers directly. you can also see what other lenders have offered to that particular loan request until the request is live.
edited
www.yes-secure.com
|
|
Tue Mar 06, 2012 11:43 am |
|
|
coaster
Senior Advisor
Cash: $ 1357.80
Posts: 6686
Joined: 11 Oct 2005
Location: Wisconsin
|
| mod's note |
|
|
good post, but sorry, you can't use it to promote your own site
~Tim~
Eye Candy : Why Whimsy
|
|
Tue Mar 06, 2012 5:22 pm |
|
|
|
