Enjoy getting raped on taxes.

Yeap. You'll file quarterly if your AGI is high enough. Then again getting raped in taxes means I'm making money.
Expect 12-15% returns. Plus origination points.
Look for properties with no first lien.
Loan to value under 70%. Hopefully they do default so you take the property and lease it out. Or do it all over again.
Be a bank bro. Make bank dude.
Fuck that last pussy

>>1172597
lemme borrow money for trumpcoin

>>1172631
Okay, 30% apr :^)

>>1172632
can i borrow 100,000?

>>1172632
buy trumpcoin before i pump it with the 100,000 to triple profits

>>1172615
what do you do about shitters that dont pay you back? do you have a guy that you send to break their legs?

>>1172597
too risky

people will not pay you back, and you wont be able to do shit about it

>>1174096
>and you wont be able to do shit about it
how do private banks do it?

>>1174098
They have the ability to fuck your credit and have huge collections departments who have debt collectors on call to never stop harassing you.

Why not Lending Club?

Been thinking about getting into hard money lending for real estate flippers.

>>1172597
I don't recommend it. The lending's fine, but the collecting made me feel dirty.

>>1172597
I want to amend what I said, if you're talking more microloan-wise with something like Kiva, it's awesome. Under the table stuff, not so much.

>>1172597
Think about your 'customers' motives to lend from you. Why do you lend money from someone privately instead of a bank? Because you've terrible credit and are perhaps a registered bad payer? Do you want to lend money to shitters?

>>1176469
What's fucking dirty about it? It's your money and they agreed to the APR.

>>1176574
dirty is you need to break the guys legs and make him watch you and your pals fuck his daughter in the ass without rubbers.

>>1176574
what is predatory lending?

>>1177762
Tell me more of this daughter.

>>1172597
Where are you going to get the money to lend? Are you going to hold the paper personally?

>>1174099
What are the real repercussions nof that dont scum just bail completely until they go to jail? How does the collecter win on good faith alone?

>>1177930
all private moneylenders have a reputation to fuck your shit up if you try to bail on them.
that's how it works.
you can't do it nicely unless you do micro loans and have a network of lenders where you can rate customers and you all deny them loans if they fail a single payment.

I work at a bank where we have a private finance company as a borrower. They only do bridge financing on single family residences where they are secured by a lien on the property. They have a pretty high interest margin since they are a private lender and they also collect an origination fee. They killed it last year and the risk is relatively low.

>>1177930
>WHERE IS MY MONEY BITCH, DON'T YOU BAIL ON ME, I'M COMING FOR YOUR FAMILY YOU PIECE OF SHIT

Or you can work with garnishee