Quote:
Originally Posted by kaktuz
I Agree with Nikky, that is logical.
why the hell would someone need investment if he can get 24%? take a loan from the bank at 7% and then return it and keep the extras in your pocket? why would you involve others in something that is PURE profit according to you?
its nuts! such high percentage can barely be done by playing stocks.
sounds like a plot to scam people, i saw this shit happens 100 times, millionaires make huge funds to play in the fields of "gas or so" people invest and they run on them, and people loose all their $.
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Nah. What is not logical is the claims, or thougth process for those self employed.
1. You are not going to get 7% on a loan of that type. Whether borrowing on a personal leve, or for business purposes.
2. Add in credit rating. Not everyone is in the 700's
3. Not everyone is a home owner, or has a car, jetski, etc paid off to use as collateral.
4. If you are ACTUALLY IN THIS BUSINESS full time, then you are self employed. If you do not have hard assets, you will have to have your accountant work up a year to date of your business. You will need a minimum of two years of tax returns. Maybe more docs depending on bank, or credit union.
5. The credit crunch, and some banks not giving loans of this nature.
What I always find humorous in these threads are the amount of GFY millionares speaking out of their asses about how easy it is for EVERYONE to just go walk in the bank and grab some unsecured debt/loan at a killer interest rate no questions asked.
It's bullshit.
