Anyone interested in making 9% interest on a one year loan?

[fantastic_four]

Lastly, what bank would give you $15K for a pledge of $30K in comics?

 

I would like to know what bank would do that for me.

 

None, but that doesn't mean my only option is to get bent over by someone with no vested interest in not screwing me. A company in the business of lending money has a vested interest in not screwing their customers--people on these boards don't. Again, I'm not saying you'd do it--I suppose of everyone in the thread, you'd actually have the most vested interest in not running with the $30K in books given that you're running a business that includes consignment as a service.

[boomtown]

Has does your request for a loan make any sense other than for the person who is loaning you the money to keep the actual CGC books?

 

I already see a shady red flag by having someone else holding the CGC books as collateral and basically the one shelling out the cash flow sitting on the sidelines holding their johnson.

 

 

If I give you $30,000 worth of books and you give me $15,000 in cash- you are fully covered if I default. What recourse do I have if you sell my books or they get stolen?

 

What happens if the books are stolen from the 3rd party?

[seanfingh]

Has does your request for a loan make any sense other than for the person who is loaning you the money to keep the actual CGC books?

 

I already see a shady red flag by having someone else holding the CGC books as collateral and basically the one shelling out the cash flow sitting on the sidelines holding their johnson.

 

 

If I give you $30,000 worth of books and you give me $15,000 in cash- you are fully covered if I default. What recourse do I have if you sell my books or they get stolen?

 

What happens if the books are stolen from the 3rd party?

 

That is the law of bailment. That is just the kind of can of worms that this thread needs.

[comicwiz]

Has does your request for a loan make any sense other than for the person who is loaning you the money to keep the actual CGC books?

 

I already see a shady red flag by having someone else holding the CGC books as collateral and basically the one shelling out the cash flow sitting on the sidelines holding their johnson.

 

 

If I give you $30,000 worth of books and you give me $15,000 in cash- you are fully covered if I default. What recourse do I have if you sell my books or they get stolen?

 

What happens if the books are stolen from the 3rd party?

 

That is the law of bailment. That is just the kind of can of worms that this thread needs.

 

A Thing vs Hulk scale battle scene. Just in time for your birthday.

[seanfingh]

[NewWorldOrder]

Actually i was thinking of doing the same kind of loan cause I need to buy an AF 15 CGC 5.5.

 

So to be fair to the loaner I will let my the 3rd party holder of the CGC collateral to be my brother.

 

The loaner has nothing to worry about.

 

[fantastic_four]

So to be fair to the loaner I will let my the 3rd party holder of the CGC collateral to be my brother.

 

The loaner has nothing to worry about.

[seanfingh]

Actually i was thinking of doing the same kind of loan cause I need to buy an AF 15 CGC 5.5.

 

So to be fair to the loaner I will let my the 3rd party holder of the CGC collateral to be my brother.

 

The loaner has nothing to worry about.

 

Lender

[NewWorldOrder]

So to be fair to the loaner I will let my the 3rd party holder of the CGC collateral to be my brother.

 

The loaner has nothing to worry about.

 

For anyone with common sense for the 3rd party person to be involved a legal contract would have to be drawn out, especially when the the lender doesn't even know the 3rd party individual from jack.

[fantastic_four]

For anyone with common sense for the 3rd party person to be involved a legal contract would have to be drawn out, especially when the the lender doesn't even know the 3rd party individual from jack.

 

Solved by picking a third party individual or company that both the lender and borrower DO know from jack. Bonus if the third party is a lawyer themselves to draw up the contract as has happened here in this thread.

[NewWorldOrder]

For anyone with common sense for the 3rd party person to be involved a legal contract would have to be drawn out, especially when the the lender doesn't even know the 3rd party individual from jack.

 

Solved by picking a third party individual or company that both the lender and borrower DO know from jack. Bonus if the third party is a lawyer themselves to draw up the contract as has happened here in this thread.

 

Okay so who is that?

 

Sorry like many people have said before you can't have someone's money w/o the lender feeling safe backed with assets in their possession.

 

But hey this country is filled with suckers.

[Iceman399]

Wouldn't it make more sense to reduce the value of the books to say 20k so that no 3rd party is even required? (unless this isn't possible because the "books" are only 2 or something each valued at 15k)

 

just my

[fantastic_four]

Okay so who is that?

 

Sorry like many people have said before you can't have someone's money w/o the lender feeling safe backed with assets in their possession.

 

But hey this country is filled with suckers.

 

And I'm not one of those suckers, so since you have no vested interest in giving me my books back since you're not a professional lender, you're not getting my assets.

 

Assuming we didn't have these forums to get a hookup exactly like Shad already has with Mark Zaid, then our trusted third party can be Bob Storms. You trust him?

[seanfingh]

For anyone with common sense for the 3rd party person to be involved a legal contract would have to be drawn out, especially when the the lender doesn't even know the 3rd party individual from jack.

 

Solved by picking a third party individual or company that both the lender and borrower DO know from jack. Bonus if the third party is a lawyer themselves to draw up the contract as has happened here in this thread.

 

Okay so who is that?

 

Sorry like many people have said before you can't have someone's money w/o the lender feeling safe backed with assets in their possession.

 

But hey this country is filled with suckers.

 

There are companies whose entire raison d'etre is to provide escrow services under exactly this type of circumstance. People were escrowing property as collateral in the Dark Ages, when they thought the earth was square and diseases were caused by evil spirits. It's not a very complex idea.

[NewWorldOrder]

Okay so who is that?

 

Sorry like many people have said before you can't have someone's money w/o the lender feeling safe backed with assets in their possession.

 

But hey this country is filled with suckers.

 

And I'm not one of those suckers, so since you have no vested interest in giving me my books back since you're not a professional lender, you're not getting my assets.

 

Assuming we didn't have these forums to get a hookup exactly like Shad already has with Mark Zaid, then our trusted third party can be Bob Storms. You trust him?

 

 

Okay well then the OP needs to go to a bank than ask boardies not to expect to hold the books for collateral in their possession.

 

I also don't answer rhetorical questions.

 

Bob I know, Mark I don't know. So what do you think?

[fantastic_four]

There are companies whose entire raison d'etre is to provide escrow services under exactly this type of circumstance. People were escrowing property as collateral in the Dark Ages, when they thought the earth was square and diseases were caused by evil spirits. It's not a very complex idea.

 

E-Bay has offered this service for over a decade on transactions, although last I looked it was outsourced through some company that appeared to be external to them.

[fantastic_four]

Still not sure why shad would do this at all if he's got an equity line, it's far cheaper on the rate and if it's on his primary home, it's tax-deductible. Plus all the risk we've discussed is gone.

[comicwiz]

Serious question: who is offering an equity loan or line of credit at 1%?

 

You can break this down every which way but sideways, at the end of each month, my bank charges 4%, and using the same annual lending schedule used in this thread, it would translate to 36%

[RockMyAmadeus]

and using the same annual lending schedule used in this thread,

 

This made me chuckle. I'm telling you, they're not going to get it.

[RockMyAmadeus]

when they thought the earth was square and diseases were caused by evil spirits.

 

 

I'm pretty sure diseases are caused by witch's spells....duh.