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    Person to person lending. Anyone tried this?

    Lending money in this way spreads the risk, using companies such as Landbay. Obviously there is a risk but I would like to hear opinions from lenders.

    0  Views: 968 Answers: 3 Posted: 9 years ago
    nomdeplume

    The interest rates on these loans are much higher than the lousy rates for savers from banks, that is why I am interested to hear from other investors,
    Bob/PKB

    I think I studied this as one of the lending options in the real estate classes I took in preparation for become a R.E. agent. It actually sounded like a plausible way of investing with minimal risk, all things considered. Don't know too many details, but the overview sounded respectable.

    3 Answers

    I'm not familiar with this, nom; I thought you were asking about loaning money from one person to another outside of "Landbay".  I don't like loaning money; it seldom finds its way back. 

    hector5559

    Only to true Miss Bob,

    I have rules. I will loan $5.00 US with an agreement to repay within 30 days. If more money is needed before the debt is repaid then no additional money is loaned. 30 days after the $5.00 is loaned and repaid $10.00 may be loaned with the same requirement to return the $10.00 within 30 days. Failure to repay, as stated, results in No loans available. Folk who cannot borrow $5.00 and repay it in 30 days are not aware enough to handle money responsible...not their own money and certainly not any of my money. Loaning money is reasonable with collateral. I know a Pawn shop that does that. I do not. Banks will loan based on the value of a car, house, boat or property. They have lots of nice paperwork to make their practice neat and respectable. Mortgages are legal and simple enough. Banks and Credit Unions are honest and honorable generally, in their dealings.

    Shakesphere said, " Neither a borrower nor a lender be "

    witchway

    Simple words to love by.


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