Not bad...a 300% return. Is my math right?

[PAB]

http://pics.apartment808.com/users/dukeofurl/badmath.JPG

Backstory: I've been thinking about real estate and this agent has me on a mailing list. Got this in recently and I couldnt help but laugh my ass off.

To boot, she had no idea what blind carbon copy is - so when she sent the email, I got her entire mailing list.

 

[shortspanishguy]

No linking from this host

 

[krunchykrome]

0% return on the link provided

 

[thetxstang]

In before the insults start.

 

[jman19]

Originally posted by: shortspanishguy
No linking from this host

Drag and drop, noobcake.

 

[akubi]

deal is smokin, where do i sign

 

[dartworth]

::KISSES PAB::

 

[everman]

looks like 3% total return, but if you annualize it you'll get a bigger number.

 

[OrganizedChaos]

Originally posted by: shortspanishguy
No linking from this host

drag & drop

 

[her209]

Sounds too good to be true.

 

[3chordcharlie]

Originally posted by: her209
Sounds too good to be true.

Really?

It's actually about a 30% annualized rate, which isn't exactly out of the ballpark.

Note: that doens't make it a 'good' investment, I'm just saying.

 

[PAB]

I loanshark on the side, and my rate is 25% a month if I know you, with collateral.

For me to do this deal, I'd have to make $7500 in interest if it went 4 weeks and $10,000 in interest if it went 6.

 

[Alone]

So you can lend out money like that with a good rate? What's the risk on that?

 

[erub]

Originally posted by: PAB
I loanshark on the side, and my rate is 25% a month if I know you, with collateral.

For me to do this deal, I'd have to make $7500 in interest if it went 4 weeks and $10,000 in interest if it went 6.

25% a month, hahahahhaa

what are you, a payday loan company? I dont even think they charge that much. And they get sh!t for collateral.

You're an idiot.

 

[lyssword]

no, your math is not right

 

[krunchykrome]

Originally posted by: erub

Originally posted by: PAB
I loanshark on the side, and my rate is 25% a month if I know you, with collateral.

For me to do this deal, I'd have to make $7500 in interest if it went 4 weeks and $10,000 in interest if it went 6.

25% a month, hahahahhaa

what are you, a payday loan company? I dont even think they charge that much. And they get sh!t for collateral.

You're an idiot.

I laughed at that too.

 

[thepd7]

Originally posted by: erub

Originally posted by: PAB
I loanshark on the side, and my rate is 25% a month if I know you, with collateral.

For me to do this deal, I'd have to make $7500 in interest if it went 4 weeks and $10,000 in interest if it went 6.

25% a month, hahahahhaa

what are you, a payday loan company? I dont even think they charge that much. And they get sh!t for collateral.

You're an idiot.

Have you ever seen a pawn shop/payday loan places rates? I saw them and was amazed. The APR was in the thousands. If he makes even close to that loan sharking that sounds about right.

 

[Mardeth]

Thing is, the loan isnt compounding, so for the costumer the rate wont be in the thousands.

Example:
$10,000x25%=$2,500
For the sake of simplicity he pays interest only 12 times meaning 12x$2,500=$30,000

((10,000-30,000)/10,000)x100%= 200%

I hope I got that right. Anyway, if PAB actually does that, he isnt stupid, the one loaning is. But I have a hard time believing that someone, who supposedly has collateral, will pay 25% monthly unless its a very small sum like $100.

 

[ForumMaster]

your SPAM block utility doesn't work.

 

[allisolm]

Originally posted by: PAB
I loanshark on the side, and my rate is 25% a month if I know you, with collateral.

Can anyone say usury?

 

[BrownTown]

Originally posted by: allisolm

Originally posted by: PAB
I loanshark on the side, and my rate is 25% a month if I know you, with collateral.

Can anyone say usury?

can anyone say go to the slums and they on every corner? Not even kidding its terrible, driving through the slums every street corner has either a gun store, a liquor store, or a cash in advance store. And some of the stores do combinations, like they'll let you buy a gun on cash in advance etc. It is terribly sad that some people actually accept such terrible rates (hundreds or thousands interest rates) just to get money a few days/weeks earlier. I cannot honestly fathom how someone could be so completely retarded to throw their money away in that fashion.

 

[jupiter57]

Originally posted by: erub

Originally posted by: PAB
I loanshark on the side, and my rate is 25% a month if I know you, with collateral.

For me to do this deal, I'd have to make $7500 in interest if it went 4 weeks and $10,000 in interest if it went 6.

25% a month, hahahahhaa

what are you, a payday loan company? I dont even think they charge that much. And they get sh!t for collateral.

You're an idiot.

It's easily done at his Middle School: Loan the other kids $10.00, & when the check comes at the first of the month, they pay him back $12.50!

 

[erub]

Originally posted by: BrownTown

Originally posted by: allisolm

Originally posted by: PAB
I loanshark on the side, and my rate is 25% a month if I know you, with collateral.

Can anyone say usury?

can anyone say go to the slums and they on every corner? Not even kidding its terrible, driving through the slums every street corner has either a gun store, a liquor store, or a cash in advance store. And some of the stores do combinations, like they'll let you buy a gun on cash in advance etc. It is terribly sad that some people actually accept such terrible rates (hundreds or thousands interest rates) just to get money a few days/weeks earlier. I cannot honestly fathom how someone could be so completely retarded to throw their money away in that fashion.

yep, you are right. Georgia is currently having a debate on this, the rate that they authorized is $15 for each $100 loaned for a two week period.

For a typical $300 loan extended for two weeks, the $45 fee would compute to an annual percentage rate of 391 percent.

Still less than the 600% rate PAB charges

Link

 

[PAB]

Originally posted by: krunchykrome

Originally posted by: erub

Originally posted by: PAB
I loanshark on the side, and my rate is 25% a month if I know you, with collateral.

For me to do this deal, I'd have to make $7500 in interest if it went 4 weeks and $10,000 in interest if it went 6.

25% a month, hahahahhaa

what are you, a payday loan company? I dont even think they charge that much. And they get sh!t for collateral.

You're an idiot.

I laughed at that too.

I prefer the term "travelling pawnbroker"

Originally posted by: Mardeth
Thing is, the loan isnt compounding, so for the costumer the rate wont be in the thousands.

Example:
$10,000x25%=$2,500
For the sake of simplicity he pays interest only 12 times meaning 12x$2,500=$30,000

((10,000-30,000)/10,000)x100%= 200%

I hope I got that right. Anyway, if PAB actually does that, he isnt stupid, the one loaning is. But I have a hard time believing that someone, who supposedly has collateral, will pay 25% monthly unless its a very small sum like $100.

This is correct, loan isnt compounding. However interest is never paid 12 times, its paid twice at max by smart people. For example, if I give a $10k loan - I'll pick up $2500 in interest between day 1 and day 31. If it goes to day 32, it goes to another $2500 in interest. If he stops paying interest, I take the item - which I then resell to get my investment and profit back.

People who cant go to a bank and need cash within a few hours do this. I've done this before for a few people who are in tradtionally well paying industries/businesses who just want some extra money on the side.

 

[j00fek]

thnx for sharing your spam with us