EarnByLoaning - earnbyloaning.com

[jlpicard]

Originally Posted by epaydayTG

Looks like they changed the FAQ again. sorry. I posted FAQ 1.9 at the Why Do Work forum and here's what it said:

Ref: http://www.whydowork.com/forums/view...?p=54397#54397

Let's see what EBL's reply to JLP comes up with...

You showed me this before... I should have remembered. My apologies. That's why I thought you could.

The weird thing is that this is not the same as section 1.9 on their website... Well, it won't hurt to get the clarification. Thanks for staying in top of this.

BTW, thanks for the kick in the rear a few days ago and answering my questions last night. Got my loan doc's and the check in the mail this morning.

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[lavanya318]

Originally Posted by jlpicard

I want to create a new 120 day loan every 30 days for the next 4 months so that I can create a monthly cash flow. The answer to my question should answers yours as well.

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In the scenario of a 120 day cycle for a new loan, in order to achieve your goal...let me see...I want to think it through


only plp2-4 here is being considered for monthly income.

Loan1 120 day cycle say in july: principal
End of 120days (november): Redeposit principal wait for 30 days
Make a new 120 loan loan2, in December, with former interest accrued (+ any top off)
wait 120 days for loan1 to mature (March): redeposit Principal
Wait 60days and make a new 120 day loan (May)= loan3
wait 120 days for loan2 to mature(April): Redeposit principal
After 60 days make a new loan4 (June)


Convoluted but workable huh?

lavanya

[mishugenah]

Originally Posted by jlpicard

The word I like to use is synchronicity.

I don't envy anyone living in Texas. As wonderful as many places are in this great land, there is no place I'd rather live than Colorado.

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I'm sure its beautiful, and while I am not particularly in love with Texas and didn't choose it for its charm, where I am here has some beauty too, despite my complaints. Where else could an average family live 2 blocks from the ocean for as reasonable an amount... In fact, an issue of NYTimes Sunday Travel section refers to this place as the "new Hamptons" HAHAHAHAHA ROFLMAO! And they believe it here! Even my New Rochelle brother was totally shocked at what you could get here!

lol, have you any idea what this would cost in MALIBU???

My Jewish moneylender ambitions however, will have me retiring maybe in Oregon on the Pacific Coast, or in New Mexico around a lake, or back in the Adirondacks in a log and glass house on top of a mountain...maybe the San Juan Islands...maybe the Finger Lakes...come to think of it, no where is Texas Gulf Coast on the list.

However, before Katrina, the coast waterfront homes in Biloxi Ms. caught our eye as beautiful peaceful places for a nice retirement. Now I can guarantee it will be no where in any hurricane evacuation route. I can visit the ocean, and live somewhere else, thanks. Evacuating for Rita was an experience we never want to repeat, yet will probably be forced to.

_________________

On another note - are you guys rolling your interest from L into EBL? I had no intention of doing anything but compound the L money for quite a while, and don't see the masses of dollars appearing before my hand to do many loans in here. From what I gather, it will take probably a year or two "self compounding" to build anything up in here without breaking my piggybank anywhere else. Is it better to do 12 loans at a small amount like 100-200? Just to give me an idea as a woman without an unlimited source of funds.

[lavanya318]

Originally Posted by jlpicard

I want to create a new 120 day loan every 30 days for the next 4 months so that I can create a monthly cash flow. The answer to my question should answers yours as well.

.

Another possible scenario for the monthly cash flow..
Make a loan1 say in july at the plp2-4 level
Make a loan2 in august at the plp2-3 level
Make a loan3 in september at the plp2-2 level
In november loan 1 matures. Redeposit principal
the interest accrued from loan 1 +top off make a new loan4 in february in plp2-4
in december loan2 matures. deposit amount and any top off in plp2-4
in january loan 3 matures. Deposit amount and any top off in plp2-4

lavanya

[mishugenah]

Originally Posted by lavanya318

Another possible scenario for the monthly cash flow..
Make a loan1 say in july at the plp2-4 level
Make a loan2 in august at the plp2-3 level
Make a loan3 in september at the plp2-2 level
In november loan 1 matures. Redeposit principal
the interest accrued from loan 1 +top off make a new loan4 in february in plp2-4
in december loan2 matures. deposit amount and any top off in plp2-4
in january loan 3 matures. Deposit amount and any top off in plp2-4

lavanya

LOL! Sounds like a game, when do you take cash out to create that "cash flow?"

This is like watching Mah Jong tiles around a table.

[jlpicard]

Originally Posted by lavanya318

Another possible scenario for the monthly cash flow..
Make a loan1 say in july at the plp2-4 level
Make a loan2 in august at the plp2-3 level
Make a loan3 in september at the plp2-2 level
In november loan 1 matures. Redeposit principal
the interest accrued from loan 1 +top off make a new loan4 in february in plp2-4
in december loan2 matures. deposit amount and any top off in plp2-4
in january loan 3 matures. Deposit amount and any top off in plp2-4

lavanya

That's pretty much what I had planned...

June 2007 - 120 day loan #1 (PLP2-4)
July 2007 - 120 day loan #2 (PLP2-4)
August 2007 - 120 day loan #3 (PLP2-4)
September 2007 - 120 day loan #2 (PLP2-4)

In October 2007, I get interest and principal back on loan #1. I then reloan the principal and part of the interest (if I want to compound) in October 2007 and this becomes loan #5. The remainder I take as cash flow.

I just repeat this every month using money that was already lent to EBL to generate a monthly cash flow.

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[awty]

Just a suggestion - would seem a wise idea to verify that this 'program' is properly registered and compliant with the US SEC.
Just my opinion,
Jeff
***edited by awty***
Oh, and I'm sure that the 'this isn't subject to SEC jurisdiction, it's a private loan program' will inevitably show up. Might I suggest some research. One might start with 'wellspring', among MANY others.
Jeff

[AJlee]

I am interested in joining this program. Can anyone tell me if compounding is allowed, and when they provide the daily interest rates, does this apply for each day of the month, or just business days? Thanks.

[mishugenah]

Originally Posted by AJlee

I am interested in joining this program. Can anyone tell me if compounding is allowed, and when they provide the daily interest rates, does this apply for each day of the month, or just business days? Thanks.

AJ, its simple interest, you do your own compounding by reinvesting. Looks like daily interest though.

Good to see you.

[jlpicard]

Originally Posted by awty

Just a suggestion - would seem a wise idea to verify that this 'program' is properly registered and compliant with the US SEC.
Just my opinion,
Jeff
***edited by awty***
Oh, and I'm sure that the 'this isn't subject to SEC jurisdiction, it's a private loan program' will inevitably show up. Might I suggest some research. One might start with 'wellspring', among MANY others.
Jeff

This and a lot more has already been done by folks at nobsnetwork.net. The specific link to this thread is shown in the first post of this thread. So much has already been done, that I personally don't feel the need to reinvent the wheel. The only exception to this is that epaydayTG and I will be meeting Craig Jolly in a couple of weeks.

Truth is, I have never seen anything close to the level of DD done on this program as I have on any other. You have a lot of experience Jeff. If you know of any other programs that have had more DD done on them that are currently running (and are open to new members), please pm me. Thanks.

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