Peer To Peer Lending A Good Idea?

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Title	:	Peer To Peer Lending A Good Idea?
Lasting	:	2.34
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Views	:	122 rb

This was 6 years ago and he called Bitcoin a fad, it would have been trading for around $3K at that time, currently sitting at $103k I bet now he wishes he would have jumped on the ""fad"
Comment from : @SD-ht1ht

This isn't just ppl who can't "go to banks" Ppl can have good credit and NOT LIKE BANKS not want the $$ to go to the banks and would rather the money go to normal ppl You become the bank with peer to peer I don't agree with him here
Comment from : @shofury1337

You can choose to lend to the ones that having shorter period terms ie 4 to 6 months That way you can roll your money faster and can give you nearly 20 profit annually I'm doing it now
Comment from : @azizwahid8443

This guy is a hater; he wants to give advice, but if you are not a millionaire, he treats you like trash
Comment from : @Disruptor444

90 of the people responding are supporting BORROWING from P2P lenders, caller is talking about LENDING Also they're saying P2P bcash loan/b rates are even LOWER than the banks leveraged fractional rates which doesn't exactly sit well for being on the LENDING side of itbrbrIf you LEND money without knowing what you're doing and having good lawyers on staff you're a moron and you'll be destroyed when a loan goes south Some minor mistake contrary to state or federal law and you'll never force the borrower to repay a dime Even BOA lost their butts over foreclosure technicalities and those were actually lawfully issued dowd frank compliant loansbrbrAnyways without fractional leverage unavailable to private lenders there's just better investments out there without the risk
Comment from : @July-qo7jp

I can understand Ramsey's point of view on it He's not wrong It is a high-risk, fad investment that can be a major hassle should things go south
Comment from : @Constitution1789

well he did call himlearn to think for yourself the man said his fkn house is paid for and has a group of guys he invests with using play money the caller isn’t dumb he’s just not 100 confident in his own decisions well i hope this rude asf encounter gave him his confidence back peer to peer loan is a genius idea if executed right
Comment from : @masondrip42

I had my serious face up until he mentioned BTC I started laughing, at the time of this clip 5 years ago bitcoin was below 10k Now it’s close to 70k😂😂 Mr Ramsey is wrong Because of btc I paid off my house
Comment from : @guerjes1985

Created by Steve You nailed it
Comment from : @SkullRiderTrucker

To his point specifically, I've been in the music industry for over 25 years Doing very well for myself, my wife and I But the music industry is considered a high-risk, non-traditional industry to traditional banks We've always had a hard time getting traditional loans/funding even though our credit was stellar and our money was far from funny It had nothing to do with us not being able to pay loans back, being financially irresponsible, or anything like that Again, his blanket conservative statements for everything is very misleading
Comment from : @TheStaffords

Dave is good for a lot of people, but he has a lot of "blanket", non-creative solutions There's nothing wrong with that if you are risk averse Play it safe Totally fine But he makes creative investing or investing that involves higher risks sound like they are evil Some of the smartest and wealthiest people you will ever meet did some of the riskiest investments and business moves brIt's all a matter of your tolerance He would be more fair to say that than to act like every high-risk investment is a fad or a bad move brAgain, I'm not knocking him If you like to play it safe he has a whole lot of smart strategies to do with your money But please don't let him make you think that there aren't legitimate, legal and creative investment options out there Sure, they may carry higher risk, but true to the saying, a lot of them are high risk / high reward I just wish he would stop making them all sound like they are for fools
Comment from : @TheStaffords

Guess what 5 years later and your proven wrong
Comment from : @uncleike4837

Ummmm banks are peer to peer just a regulated peer 😂😂😂😂😂😂 yall be so delsusional and give Corporations POWER 😂😂😂😂😂
Comment from : @deelight9963

Boomer can't comprehend anything other than equities and real estate
Comment from : @CIPHERFLEX

That guy think only his opinion is the right one
Comment from : @gabrielhenrique073

Curious if he changed his mind on the BitCoin "FAD" now that credible investors and millionaires are looking to get into it
Comment from : @traqnhristov960

Dave Ramsey is good if your financial life is in chaos Once you have some stability, he is terrible with investment advice I've heard him claim that you should plan your retirement with a 11 or even 15 yearly rate of return on rhe stock market This is just stupid
Comment from : @AncientMarinerNY

Ramsey is good at keeping people complacent
Comment from : @genjioto

You are wrong I borrowed from lendtree making gradually from 60k to 359k, and I was successful paying the loan You see, the banks are worse Actually, I had 4 loans over 70k frin lendree and I paid it
Comment from : @adlan25

FINALY a voice I trust!
Comment from : @DerogatoryMess

My spouse and I are adding a variety of stocks/ETF to my present holdings for the long term, We've set aside $250k to start following inflation-indexed bonds and stocks of companies with solid cash flows, I believe it is a good time to capitalize on the market for long-term gains, but it wouldn't hurt to know means of actualizing short term profit
Comment from : @Harperrr99

Dave clearly don’t know what he talking bout on this 😂…I got a loan and my credit close to 800…money was in account in days… convenience
Comment from : @SonataAntics

Dave don’t get mad because we found easier ways to earn The goal is to get a bigger return with less work
Comment from : @victorsaenz9452

Without fail, Ramsey disappoints
Comment from : @henny4360

Language discrimination, my father asked for a personal loan already some time ago with Prosper Everything was alright he even paid the full amount of the loan back When he applied again recently for a personal loan they asked for more information and told him to call They don’t have Spanish speaking services so I offered to translate They told me that I couldn’t do that for him and that they would not proceed with the application because of his inability to speak English properly I was shocked because of of how they managers the situation In conclusion if you only speak Spanish (even if you have a translator) don’t apply with Prosper (In Spanish) Discriminación de lenguaje, mi padre pidió un préstamo hace un tiempo atrás con Prosper Todo estaba bien y asta el pago el préstamo completo Cundo aplico recientemente otra vez pidieron más información y le pidieron que llamaran Prosper no tiene servicio en español así que yo me ofrecí para traducir Ellos me dijeron que no podría hacer eso por el y que no precederían con la aplicación por que no hablaba Inglés apropiadamente Estaba en shock por lo mal que manejaron la situación En conclusión si solo hablas Español (aunque tengas a alguien que pueda traducir) no apliques con Prosper
Comment from : @melissalottis5065

Peer to Peer Lending is a a FAD? OK boomer! 😂
Comment from : @matthewdower5383

@ 1:50🤫
Comment from : @coupedup1

Mr Ramsey: you are wrong on this one
Comment from : @davidperez-vi7qj

This is a dear lesson I'm in I lent some idiot in our family some money I should have known the clown only came to me because the bank did not give him money
Comment from : @newsystem3667

Why so rude
Comment from : @therougesage7466

P2P investing is FAD! Clip it
Comment from : @jacksonhanson154

I love Dave Ramsey Practical and pragmatic
Comment from : @shekusheriff1438

I like how he promptly silenced the caller before he could present any logical arguments in favour of this investment Regardless of this being good or bad, its probably a good idea to allow a person to finish his reasoning
Comment from : @ItsNITREX

You give out terrible advice
Comment from : @eddiesansoni

Remember if it’s not a mutual fund Dave will say NO lol
Comment from : @Eric-kz9bk

peer to peer is steady and predictable income I respect Dave but he is uneducated on this topic
Comment from : @michaelcarr8320

He is just too old for the question
Comment from : @vinoddaryanani8604

Disgusting arrogant attitude, even cuts the man's line while he was still making a point, you're not that special, learn how to humble yourself, because life will humble you if you don't, it don't care about your age or your so called knowledge, be humble before life humbles you
Comment from : @mmisterio7631

There are p2p platforms that provide you with a guaranteed cash back So if you invested in a company that can't pay it's loan, you will get everything you have invested without the probable interest
Comment from : @sleepwalker1111

In the Baltic state Banks only give out good loans with low interest rates to the top 10 developers in the country If you are not on their list you would be looking at interest rates of uptp 24 in some cases So instead they use p2p as a way to burrow money on short term loans, banks don't like short term loans! He is so stuck in his ways, arrogant and needs to educate himself The world has changed Ramsey
Comment from : @uccagent

1:23 thank you
Comment from : @DustinGorman

Millionaire are constantly lending money to people for a higher return in the futurewhat is he talking about?
Comment from : @smokenojoke8182

Nah i do pretty good on micro loans
Comment from : @mikejens2271

Not truebrYou don't go go the banks when you don't trust banks, not when you're not a good person
Comment from : @JenJaneway

Dave you are ignorant regarding P2P lending
Comment from : @ClintonFox29

This aged well
Comment from : @chasewright3633

I get the impression he didn't look into it Was hoping for more intelligent analysis
Comment from : @sasasetti8660

I think it’s a close minded answer A lot of these loans are backed by contracts and are secured with the underlying asset In the end you’d hop they don’t pay back the loan and you’d get the underlying asset Sort of what the bank does brbrAlso “they’re all people that couldn’t go to the bank” well they could go to the bank in 2008 and before, did that mean they were creditworthy?
Comment from : @StevenDanielZigila

In other words no Dave probably hasnt researched this, mostly because he doesnt have to
Comment from : @ProfessionalDad

Hard money loans are way better
Comment from : @dc1674

Yup, totally missed the peer to peer market There are, in factlots of very wealthy people who are investing in the peer to peer market He also 100 misses the facts hereit is not just people who can't get a loan from the bank Amazingly poor advice that is not well founded on the actual facts related to the peer to peer lending market
Comment from : @houstonstarbuck

a 'fad'??? wow
Comment from : @coffeecrazy99

It's not that these people can't get a loan from the bank They usually already of unsecured debt from the bank in the form of credit card debt The reason they're on peer to peer lending is because the apr is lower That being said I still wouldn't invest in lending club or similar again due to the fact that ROI while not negative is still not as high as I'd like it to be
Comment from : @linxdeal

With lending club being around more than 10 years give or take, I'd say 8 is not bad That said, the 9 losses means 500 dollars, you can flush 45 dollars down the drainbrbrThe goal with p2p lending is to diversify so much, you literally are not affected as muchbrbr20 loans at 25 dollars is theoretically less likely to lose in the long run, than 10 loans 50
Comment from : @kiethmergard

I'll save you 25 minutes: Boomer Dave doesn't understand P2P lending
Comment from : @ChrisParrishOutdoors

You’ll find that you’ll find good deals that bring high returns Manage risk, don’t Run away That’s how millionaires invest
Comment from : @kinglyfe7270

You wouldn’t purchase a property without doing homework, so why wouldn’t you simply do as much research the company allows you to get, use this to find maybe 1 in fifty potential Active Notes
Comment from : @kinglyfe7270

Perfect example would be a Hard Money aka Private Lender They KNOW that the people requesting the loan CANT go to Traditional Lenders probably dew to pass issues with paying so you’re right The thing I ask you to look at IS THAT THEY STILL OUT THERE AND IF ITS GOOD EBOUGH FOR THEM, I CAN make a profit the same way
Comment from : @kinglyfe7270

Smart old geezer that’s why I listen to wise old people😇
Comment from : @god-la-7wins-verdad-942

Omg Ramsey is so uninformed
Comment from : @dbarbour1982

He’s so arrogant, and a little bit out of touch Constantly using the word stupid Some people with excellent credit go to pear to pear lending because they get a much better rate than the bank Dave needs to be open to new concepts😊
Comment from : @gracegiles5462

Why is he always upset and doesn’t seem like he wants to be here What’s wrong with him?!
Comment from : @tsnstt

Run run run from lending club I’ve made garbage money off of this platform Don’t do it!! It’s stupid!
Comment from : @tsnstt

Did you mute him? 1:30
Comment from : @zombierekt

I lost a lot a lot from peer to peer lending I wish I listen to Dave Lesson learn
Comment from : @johnclinton8435

As much as we sometimes disagree with some of Dave R opinions, we always come here just to see what he has to say about this or that___ the man save people money most A lot of people Thank Dave we appreciate your service
Comment from : @petethetrucker7816

Bit boring “better than I deserve” every video
Comment from : @olipoo3

Like 578, thank you for your insights in this area!
Comment from : @coincollectingfun

You're so cool Dave You really made sure that guy knew how dumb he was for being a lame old responsible hard working "hobby investor" idiot-head And I bet you didn't/wouldn't invest in Amazon either So I'm not sure why he or anyone would call you for this kind of advise
Comment from : @gabrielclymer5340

I lend money out on lending and it’s actually been one of my better investments Keep in mind I pick the notes manually and do my best to think like a bank when I do it I wouldn’t recommend their automated investing features, but if you’re good about picking your notes it can be an awesome extra income stream if you’re willing to deal with an investment with a little less liquidity
Comment from : @TheHeavenlyHustle89

Horrible video, each borrower has a credit ranting You're not just lending to random folks and it's not with money you can't afford to lose Nothing wrong with making some side income
Comment from : @MrWarrenRB

He just hung up on him lol
Comment from : @pianopros469

Lol of course he's going to say no
Comment from : @CombatAdj1988

I think Dave is just an intelligent and safe investor He's giving you PROVEN strategies brbrWhen P2P becomes a REAL PROVEN investment, he'll agree with it Until its PROVEN, hes going to be honest Look, P2P is a young investment brbrI hope this helps
Comment from : @prentisdavis9781

I've been in small with lending club for some months now It is risky some people do default I do have a positive return It is 6 as of 8 months It's paying better than any bank in interest would About as good as corporate bonds would It's not a miracle investment tool it's just an investment tool like any other
Comment from : @L0V3RB0Y21

Like to know what this Donk invests in?brAs though stocks and forex are not manipulated by the Jewels?
Comment from : @sanyachirpas1898

A 100 inaccurate assessment by someone who should know
Comment from : @TheBMWSteve

Attitude old man!
Comment from : @mvrz6

That's not true I considered it as a refinance because P2P offers lower rates esp for someone with great credit and who has prepaid years on their loan Sometimes people just want to reduce interest rates
Comment from : @Omgtherearenohandles

that's the American mentality from the southern states, I agree with Dave just for the fact that is just not a safe play however, I think new tools are emerging so we can take advantage of it It's time for us "new generation" to explore and come up with new solutions Banks are getting ridiculous not even a good credit works, so why not trying something different
Comment from : @Jays450

This "tough" condescending attitude is getting really old
Comment from : @jane7758

One year invested on prosper and I am averaging 15 return
Comment from : @wbrown3500

There are some p2p platforms that offer 100 buy-back guarantee In case the borrower defaults, you receive the the remaining outstanding loan amount
Comment from : @georgievvladimir

Terrible 😂
Comment from : @123mcgarrigle

They’re not all high risk loans If their rate is lower than a bank’s rate they’ll go there
Comment from : @richgilb

I really like Dave Ramsey but this video lowered your credibility There are other places to get a loan besides the bank
Comment from : @JaredOwen

I disagree 1 Some millionaires DO invest in peer-to-peer lending 2 Many middle class people these days are struggling and they will go through peer-to-peer lending to get back on their feet because of how the economy is now and salaries are not like they used to be Companies are not giving raises like they used to So, yes, there are honest people who do take advantage of these peer-to-peer lending companies and DO pay their loans off! I appreciate Mr Ramsey's advice most times but he jumps to conclusions to quickly and his tone of voice is too defensive to pay attention to him with any full respect Oh, and what do you invest in, Mr Ramsey? Why not share that info so we can invest in what you invest in also? I didn't think so AND Every time I watch one of his videos which has only been a few times, he seems so negative and puts down every possible strategy or solution but doesn't seem to offer any real advice that works Am I going to find something positive if I continue to watch his videos?
Comment from : @ramona4913

Come on Dave Ramsey LIVE A LITTLE!!! Wow you're so boring you scare away the youth!
Comment from : @Steve_Takes

😂😂😂😂
Comment from : @macaroni185

Getting loans from P2P lending is fine, however, investing in it is the shaky side, not because what you can yield, but it's the fine print in respect to pulling out your money or if the borrower defaults is another story and again fine a very successful person (because I don't know one either) who has come up on this platform of P2P lending and at least learn from them, until otherwise take all advice with a grain of salt
Comment from : @DaymeanLewis3833

What a bot
Comment from : @ulyssesramos383

I have done just over 100 loans with Peerstreet and have not lost money on a single deal I have had 2 foreclosures the first one sold and I got all my money back Still waiting on the second one but I am not worried Peer to Peer lending is great just make sure it is asset-backed and you do your homework on the company And no it is not for people who couldn't get a loan from the bank many have credit scores in the 800s Bank money has lots of restrictions and lots of times won't lend for things like rehabbing a house because if it goes bad its harder to sell and takes to long For them, it's to much hassle but it's great for the individual investors
Comment from : @powergrower