Passive income as Private Lender/ Financer?

[Hate2Wait]

In Villages and even in cities if you like to borrow money and are unable to provide the documents required by the bank then the only option left for you is to contact a private lender or financers but they charge a higher rate of interest and many times these loans are not guaranteed and if you are good with getting your money back then it's a great way to earn passive income.

 

[Bisolami]

In Villages and even in cities if you like to borrow money and are unable to provide the documents required by the bank then the only option left for you is to contact a private lender or financers but they charge a higher rate of interest and many times these loans are not guaranteed and if you are good with getting your money back then it's a great way to earn passive income.

I think I can be a private lender but the problem there is that it is a bit risky.

 

[uptrendfinancialsignal]

lending money is a passive income source but it is a very risky business.

 

[Reedex]

lending money is a passive income source but it is a very risky business.

Being a private lender is a very good Enterprise and you're going to make profit from it if you have credit money borrower.

 

[Springtime]

I agree that being a private lender, you can generate good passive income. However, this is a risky business. Should the borrower refuses to pay back the money, you need to use various means including taking legal actions to get the money back.

 

[SHAHID987]

So many cases I have seen as people don't return back the money, sometime they move far away from present city and the guarnieri was also fraud, so there all profits gone away from one loss.

 

[uptrendfinancialsignal]

You can decide to start lending on peer-to-peer platform to gain decent interest.

 

[Yohanna]

You can decide to start lending on peer-to-peer platform to gain decent interest.

This is one of the advantages of the lending platform.

 

[Reedex]

This is one of the advantages of the lending platform.

The lending platform has a lot of advantages that one called tap into.

 

[eldavis]

This is a good business though and there are lots of persons who make passive income from this, but personally i wont try this, i do not have the strength to force and fight them to pay me back.

 

[Yohanna]

This is a good business though and there are lots of persons who make passive income from this, but personally i wont try this, i do not have the strength to force and fight them to pay me back.

I will also agree that it's a very good business and lots of people are making decent money from it.

 

[nomad]

lending can be a good way to build passive income, however, you also have a risk of losing your investment as it is very common for people to default loan from private lender.

 

[Yohanna]

lending can be a good way to build passive income, however, you also have a risk of losing your investment as it is very common for people to default loan from private lender.

I have the intentions of looking towards creating a passive income through lending activities.

 

[flower]

I have the intentions of looking towards creating a passive income through lending activities.

It's a very good way to make money passively but you need to give money to credit-worthy borrowers.

 

[saoussen5765]

This profit for some people is called usury and then they prevent giving such lending with interest due to religious background so if I lend someone 1000 neira he must pay back 1000 neira and not 1150 neira.

 

[Rubz]

Earning passively as a private lender or financer is a good idea but i do not think i would like to try it out because it seems risky. People might not want to pay back the money.

 

[saoussen5765]

Earning passively as a private lender or financer is a good idea but i do not think i would like to try it out because it seems risky. People might not want to pay back the money.

You could lose many people because people don't even pay back the money you have given to them or even part of the money and move on as there is their money so what about if there is interest, means we have to be a little realistic.

 

[Rubz]

You could lose many people because people don't even pay back the money you have given to them or even part of the money and move on as there is their money so what about if there is interest, means we have to be a little realistic.

My point exactly. Most times, i don't lend what i can't afford to let go of because some of my friends have borrowed money from me and they end up not paying it.

 

[timewo]

Private lending is lucrative since the interest rates are high, but it is also risky since the borrowers may not repay the money. So it is better to lend through large companies which have better systems in place.

 

[bestwriter]

Lending is quite a way to generate income but the borrower should mortgage anything they possess as a safety measure