How To Start Your Own Bank And make passive income ?
Whats good folks its yah boy DeVaughn back again with another video and today we are talking about How To Start Your Own Bank.
Ok wealthbuilderz I came up with a way to start your own bank I know it sounds kind of crazy but hey I never said my ways of making money is conventional.
First let me tell you what this is not going to be I’m not going to tell you to start a brick and mortar bank where people come into an establishment and give you money or anything like that.
But what banks do do they give loans, Personal loans and Business loans. So you do the same. You help people get loans for personal needs and business needs.
Its done with crowdfunding loans through prosper or lending club. This is what you will be doing finding loans that are close to its funding limit and what I mean is every loan has a funding limit.
So if you find a loan that max’s out at $5,000 but its only been funded at about $4500 You can fund the rest of the loan starting from $25 to $500 depending on your budget.
Once the loan is funded then you will start receiving interest payments passively. Now keep in mind of two things when investing in prosper loans. You have to wait until the loan is fully funded and the person receiving the loan starts paying it back. but this is a great way to increase your income passively and simple way too.
Keep in mind all personal loans are made by WebBank, member FDIC. Loans are unsecured, fully amortized personal loans. Notes are not guaranteed or FDIC insured, and investors may lose some or all of the principal invested.
Investors should carefully consider these and other risks and uncertainties before investing. This and other information can be found in the prospectus. Investors should consult their financial advisor if they have any questions or need additional information.
Thanks for watching Its yah boy DeVaughn signing off for How To Start Your Own Bank? Do remember wealthbuilderz Make more Save More Build More.
