Comments on: Be the bank! http://7million7years.com/2010/01/14/be-the-bank/ How to make 7 million in 7 years ... Wed, 08 Feb 2012 08:33:07 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Free money at last!- 7million7years http://7million7years.com/2010/01/14/be-the-bank/comment-page-1/#comment-4472 Free money at last!- 7million7years Mon, 25 Jan 2010 08:46:36 +0000 http://7million7years.com/?p=3837#comment-4472 [...] Failing that: stocks; business; P2P lending; etc; etc; etc? But, we covered this question last week [...] [...] Failing that: stocks; business; P2P lending; etc; etc; etc? But, we covered this question last week [...]

]]> By: ill liquidity http://7million7years.com/2010/01/14/be-the-bank/comment-page-1/#comment-4391 ill liquidity Mon, 18 Jan 2010 01:58:08 +0000 http://7million7years.com/?p=3837#comment-4391 My fortune cookie says "you have no home equity, keep working like a slave" My fortune cookie says “you have no home equity, keep working like a slave”

]]> By: Adrian http://7million7years.com/2010/01/14/be-the-bank/comment-page-1/#comment-4381 Adrian Sun, 17 Jan 2010 04:42:28 +0000 http://7million7years.com/?p=3837#comment-4381 @ Trainee - a VERY long discussion, I presume ... unless, that is, Luis lent you his fortune cookie? :P @ Trainee – a VERY long discussion, I presume … unless, that is, Luis lent you his fortune cookie? :P

]]> By: traineeinvestor http://7million7years.com/2010/01/14/be-the-bank/comment-page-1/#comment-4379 traineeinvestor Sun, 17 Jan 2010 03:43:44 +0000 http://7million7years.com/?p=3837#comment-4379 If I borrow from a bank against the security of my home, I will get (probably) the cheapest non-callable debt in the market place secured against one of the best forms of security. In order to make money I have to lend it out at a higher rate than the bank charges me. Almost by definition, that means I will be taking more risk as anyone who could offer security as good as my home would do the rational thing and go to the bank to borrow at the same rate I did). I query whether it is worth it (even without dealing with the work needed to do due diligence and document the loan and dealing with the tax issues)????? I much prefer Adrian's uses for the borrowed money - and that is exactly what I did last year when I maxed out my mtg facility to invest.....after a long discussion with the wife If I borrow from a bank against the security of my home, I will get (probably) the cheapest non-callable debt in the market place secured against one of the best forms of security. In order to make money I have to lend it out at a higher rate than the bank charges me. Almost by definition, that means I will be taking more risk as anyone who could offer security as good as my home would do the rational thing and go to the bank to borrow at the same rate I did). I query whether it is worth it (even without dealing with the work needed to do due diligence and document the loan and dealing with the tax issues)?????

I much prefer Adrian’s uses for the borrowed money – and that is exactly what I did last year when I maxed out my mtg facility to invest…..after a long discussion with the wife

]]> By: Luis http://7million7years.com/2010/01/14/be-the-bank/comment-page-1/#comment-4369 Luis Fri, 15 Jan 2010 15:02:56 +0000 http://7million7years.com/?p=3837#comment-4369 I read this while having a typical fast food Chinese lunch and at the conclusion I broke open my fortune cookie which states: "You will do better in real estate than in stocks." Just thought I'd share. :) Regarding P2P, only the house wins. I read this while having a typical fast food Chinese lunch and at the conclusion I broke open my fortune cookie which states: “You will do better in real estate than in stocks.” Just thought I’d share. :)

Regarding P2P, only the house wins.

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