I need legit way to loan people money and make profit from it

[BrentWoodSean38]

I done did like 8-9 loans on Reddit with PayPal goods and services. Few fools didn’t pay me back. I got 1 refund. Tried to get refund for the other unpaid loan but when I hit the request refund an error message keeps appearing. I try to only loan to people with accounts years old and high karma. Hopefully the other 6-7 people pay back. I put at least $400 in lending on there

I reside in Maryland, none of the peer to peer lending apps I downloaded work in my state. This his a hustle I have vested interest in. There will always be people that need money. The issue is just collecting funds because you will always have that bum that runs off and doesn’t pay

 

[CopiousX]

You are better off just buying stock in a lending company. There are no regulations to protect you as an individual , in the same way klarna or JPM or capital one do.


If you want to get higher returns, then just leverage yourself as you buy them. It will still be less risky than giving money to random people online. For example Capital One is up by 20% this year. If you had been confident in your bet, and leveraged 2x then you would have made 38% on just the C-one stock

 

[stave]

Consider private credit or a collateralized loan organization. You can buy stock in the company and receive dividend payments on a monthly basis. You're not going to recover your investment as quickly but it's safer imo.

 

[cheek100]

Buy crypto. Wait for incoming legislation. Use same crypto on defi platforms to loan, pool, stake for higher Apr than any traditional institutions.

 

[Dorian Breh]

Can I get a loan I’ll pay you back