Jump to content
Displayed prices are for multiple nights. Check the site for price per night. I see hostels starting at 200b/day and hotels from 500b/day on agoda.

Recommended Posts

  • Replies 87
  • Created
  • Last Reply

Top Posters In This Topic

Top Posters In This Topic

Popular Posts

Anyone interested in earning 10-15% on deposits, please PM me. If interested I will give more details of our business model, etc. Please serious inquiries only.   Thanks.

I'm the one... the guy looked for me not a bullshitter.... at least he learnt to speak russian perfectly, what is a big effort to establish something... I met also his georgian staff looked OK.... ( w

LOL. I can imagine Chivas knocking one out reading that!

Posted Images

Question I would ask up front is 10-15% over what time scale, or is that anticipated annual returns ??

 

Those returns would be guaranteed up front and the time scale to be negotiated. Obviously, like any other type of financial institution the longer the time frame the higher the rates. There would also be flexibility on early withdrawals as long as there was a few months notice (i.e. if a 1 year deposit was agreed, but the deposit was needed after 9 months). For this there would be no penalties on early withdrawals and 9 months worth of interest would be paid as we would have negotiated this up-front. Also, the interest would be net of taxes here in Georgia (country, not state), but the interest may be taxable in your home country.

 

Also, equity ownership could be discussed and the returns may well be much higher, but this would be after a few years and paid out as cash flows would allow. We would prefer to let equity grow so the business can grow, but this is also open to negiotiation based on each person/company's circumstances and/or goals.

Edited by davebuczek
  • Upvote 1
Link to post
Share on other sites

Nothing beats investing at 10 to 15 times 1 year market rates in a place as stable as Georgia to make me want to cut a cheque to a stranger on an internet forum.

  • Upvote 1
Link to post
Share on other sites

Nothing beats investing at 10 to 15 times 1 year market rates in a place as stable as Georgia to make me want to cut a cheque to a stranger on an internet forum.

 

Actually if you do a little research, Georgia is very stable at least compared to other countries in the region. There is almost no corruption (like in surrounding Azerbaijan, Armenia, Russia, etc) and they rank very highly in the ease of doing business rankings and transparency. During the financancial crises no banks collapsed here. How many countrires can say that? As usual, do your own research, but don't be so quick to judge Georgia as just another post soviet corrupt society. It is exactly the opposite.

 

http://www.doingbusiness.org/rankings

Edited by davebuczek
  • Upvote 1
Link to post
Share on other sites

Here's the deal . The rate for a year if your offer is accurate is 10 or more times than an insured bank in a developed country or more developed than Georgia.

 

Is it a bank? Insured? Regulated? Is it in local currency or a world currency (Euro, CAD, USD, AUD, Stg.).

 

Nobody offers "deposits" with a 10-15% guarantee without a lot of risk (10 to 15X by the looks of it).

 

Explain the basics, then.

Link to post
Share on other sites

Here's the deal . The rate for a year if your offer is accurate is 10 or more times than an insured bank in a developed country or more developed than Georgia.

 

Is it a bank? Insured? Regulated? Is it in local currency or a world currency (Euro, CAD, USD, AUD, Stg.).

 

Nobody offers "deposits" with a 10-15% guarantee without a lot of risk (10 to 15X by the looks of it).

 

Explain the basics, then.

 

Not a bank, but a financial institution and is regulated by the National Bank of Georgia. The National Bank of Georgia requires quarterly reporting and financials to be posted on the company's website. There is also an annual audit requirement. There is no insurance here in Georgia (as in most emerging markets). The deposits received will be lent out at rates of 24% or higher and be 100% secured by real estate. The maximum loan that can be given out is around USD 30,000 (per law) and secured by apartments or other real estate that will have much higher value. The currency can be whatever you choose. We will actually be mitigating our currency risk by balancing the deposits we receive and the loans we give out. We don't want to be exposed to unexpected devaluations of a currency (or at least mitigate the risk).

 

In the end, yes there is usually higher risk with higher reward, but as we will be investing a signficant amount of our own money, I would be very conservative.

 

Also, I am a US CPA and I have many banks/financial institutions as clients, so that is why I feel that this can be a very successful business as the market is still developing and other companies are currently successful in the market.

 

Happy to give more details if you PM me or even have a quick phone call. Some of the other guys on the board know me, so you can ask around about the type of person that I am and if I am a bull shitter or not.

Edited by davebuczek
  • Upvote 1
Link to post
Share on other sites

Anyone interested in earning 10-15% on deposits, please PM me. If interested I will give more details of our business model, etc. Please serious inquiries only.

 

Thanks.

 

Greek bonds are paying 20% per year for 10 years. Try to beat that.

Link to post
Share on other sites

Not a bank, but a financial institution and is regulated by the National Bank of Georgia. The National Bank of Georgia requires quarterly reporting and financials to be posted on the company's website. There is also an annual audit requirement. There is no insurance here in Georgia (as in most emerging markets). The deposits received will be lent out at rates of 24% or higher and be 100% secured by real estate. The maximum loan that can be given out is around USD 30,000 (per law) and secured by apartments or other real estate that will have much higher value. The currency can be whatever you choose.

 

How can the borrower pay 24% in a real currency? You would have to be using funny money to pay this rate.

Link to post
Share on other sites

How can the borrower pay 24% in a real currency? You would have to be using funny money to pay this rate.

 

Take a look at many microfinance companies around the world. They claim to help the poor and get them credit that they cannot normally get, but in reality they are chargining them through the nose some as much as 4-5% per month...thats per month, not year.

 

Here is one link for a MFO in Georgia:

 

http://www.geocredit...spx?language=en

 

You will see rates like 30% or 36%, but the effective rates are actually higher due to fees, etc.

Edited by davebuczek
Link to post
Share on other sites

Sorry but have to add...

 

As a respected businessman you have posted an opportunity that seems to good to be true, with your experience you will know that an internet forum is not the place to market such proposals, more over people in the know or that may invest on a regular basis wont give you the time of day. A legitimate properly licensed company would be using there website, email marketing through mailing lists and local or international advertising to market such products. Your company would certainly generate enough revenue to afford such costs, if not how are you able to offer such a high ROI ?

 

Nothing beats investing at 10 to 15 times 1 year market rates in a place as stable as Georgia to make me want to cut a cheque to a stranger on an internet forum.

 

Hooray to the above PM for posting what I think most of us are thinking. Most of us here are even wary of placing investments with EU banks even though we have so much in the way of protection! Risk V Gain! Gain too little.... Gain to high... When it looks too good to be true it generally is...

 

Paul

  • Upvote 1
Link to post
Share on other sites

Yes I will cash in my Greek Bonds and send some money straight away!

Link to post
Share on other sites

don't take my word for it. Do some research and see how profitable other microfinance companies are in many places in the work

Sorry but have to add...

 

As a respected businessman you have posted an opportunity that seems to good to be true, with your experience you will know that an internet forum is not the place to market such proposals, more over people in the know or that may invest on a regular basis wont give you the time of day. A legitimate properly licensed company would be using there website, email marketing through mailing lists and local or international advertising to market such products. Your company would certainly generate enough revenue to afford such costs, if not how are you able to offer such a high ROI ?

 

 

 

Hooray to the above PM for posting what I think most of us are thinking. Most of us here are even wary of placing investments with EU banks even though we have so much in the way of protection! Risk V Gain! Gain too little.... Gain to high... When it looks too good to be true it generally is...

 

Paul

 

Think what you like. It is not too good to be true and if you like, we can have a call or meet up some time. If you do a little research then you will find what Micro finance companies are doing in other parts of the world. I gave you a link of 1 here in Georgia, did you bother to look?

 

We can offer a high ROI as we can lend the money out at a much higher rate. As you are such an astute business man, you will know that a10-20% spread on deposits to loans is more than sufficient to be profitable. In the US most banks have spreads of 3-4% and do very well. How about 10-20%? Emerging markets have more risk, but there is more reward and as I have lived here for 3.5 years, had some of these types of businesses as clients, have contacts, etc. I know the market well and how to mitigate my risk.

 

We have the initial funding, but additional funding is needed to increase the size of the portfolio.

Edited by davebuczek
Link to post
Share on other sites

I will be in Patts between the April 7 and April 16th if anyone is serious about having a discussion. As many on this board know me, they know that I am not a troll or someone that would try to scam someone.

  • Upvote 1
Link to post
Share on other sites

 

 

Hooray to the above PM for posting what I think most of us are thinking. Most of us here are even wary of placing investments with EU banks even though we have so much in the way of protection! Risk V Gain! Gain too little.... Gain to high... When it looks too good to be true it generally is...

 

Paul

 

Hooray to the above PM for posting what most of us are thinking? This presumes that Georgia is very unstable and very corrupt. Do some research and you will see that the opposite is true.

  • Upvote 1
Link to post
Share on other sites

I have not written or stated in my post that I am or have an interest in any business here and neither do I state that I am an astute businessman. You are the person whom is making claims as to the validity of your claims, how would I know? I am not selling or looking for business from people on an internet forum where I know little about most of the members or indeed their business interests. You have made your reasons for posting public and therefore I posted a reply. Further more I do not proclaim to know anything about your business and would be very unlikely to do any business with someone who is touting for business on a forum, much like I would not consider replying to an email from General Mugabe second removed asking me to help him move his gold bullion!

 

Banks are more than happy to lend to a business with a proven track record, sound business plan and assets but you would know that wouldnt you. The thing that surprised me was the manner in which you started this topic...

 

 

Anyone interested in earning 10-15% on deposits, please PM me. If interested I will give more details of our business model, etc. Please serious inquiries only.

 

Thanks.

 

Serious enquiries only... If you had posted an introduction and made a small presentation and maybe some links to credible sources directly linked to you, say a website, other clients, a sample of your portfolio then at least that would have given us something to go on.

 

I will not continue as it will lead to more mud slinging, pointless... enough said...

 

 

 

don't take my word for it. Do some research and see how profitable other microfinance companies are in many places in the work

 

 

Think what you like. It is not too good to be true and if you like, we can have a call or meet up some time. If you do a little research then you will find what Micro finance companies are doing in other parts of the world. I gave you a link of 1 here in Georgia, did you bother to look?

 

We can offer a high ROI as we can lend the money out at a much higher rate. As you are such an astute business man, you will know that a10-20% spread on deposits to loans is more than sufficient to be profitable. In the US most banks have spreads of 3-4% and do very well. How about 10-20%? Emerging markets have more risk, but there is more reward and as I have lived here for 3.5 years, had some of these types of businesses as clients, have contacts, etc. I know the market well and how to mitigate my risk.

 

We have the initial funding, but additional funding is needed to increase the size of the portfolio.

Link to post
Share on other sites

From what I've read various BMs have adequate and not staggering sums of money and have to live on that, or a mix of saved funds and fixed income.

 

It is imprudent to invest in these types of schemes. On two bases - if you don't live in Georgia then you probably should not deposit money there. Nor through internet monger boards as your referral source.

 

And a regulated non bank is just a loan company. Note banks DO lend at 24% and higher on credit cards. They don't offer 10-15% interest rates on deposits to fund those activities, they just make more spread. They are banks. That is what banks do. Specifically to make spread and not give it away.

 

Risk and return are directly correlated and the odds are going to be higher (maybe not 10 to 15 times higher) that you will lose some or all (and all tends to be the case) of your investment, to use the word.

 

A lender (at 24%) that has a viable business model can source funds at far lower than this, unless of course nobody but internet retired guys and suckers are the only people willing to do so because the equity markets and commercial banks won't. This appears to be such a case.

 

Please note this is not mud slinging against the OP who is a complete unknown. Who he is has nothing to do with prudence. It doesn't matter who personally is providing the "opportunity", it is inappropriate unless maybe you live there and do better due diligence than you will ever see here.

 

The OP will never be able to prove this is as riskless as a bank deposit nor provide enough collateral or secondary protection to justify one cent to be risked in this.

Edited by ricktoronto
Link to post
Share on other sites

From what I've read various BMs have adequate and not staggering sums of money and have to live on that, or a mix of saved funds and fixed income.

 

It is imprudent to invest in these types of schemes. On two bases - if you don't live in Georgia then you probably should not deposit money there. Nor through internet monger boards as your referral source.

 

And a regulated non bank is just a loan company. Note banks DO lend at 24% and higher on credit cards. They don't offer 10-15% interest rates on deposits to fund those activities, they just make more spread. They are banks. That is what banks do. Specifically to make spread and not give it away.

 

Risk and return are directly correlated and the odds are going to be higher (maybe not 10 to 15 times higher) that you will lose some or all (and all tends to be the case) of your investment, to use the word.

 

A lender (at 24%) that has a viable business model can source funds at far lower than this, unless of course nobody but internet retired guys and suckers are the only people willing to do so because the equity markets and commercial banks won't. This appears to be such a case.

 

Please note this is not mud slinging against the OP who is a complete unknown. Who he is has nothing to do with prudence. It doesn't matter who personally is providing the "opportunity", it is inappropriate unless maybe you live there and do better due diligence than you will ever see here.

 

The OP will never be able to prove this is as riskless as a bank deposit nor provide enough collateral or secondary protection to justify one cent to be risked in this.

 

Agree with what you have said about being able to get funds at a much lower rate, but you need to have the collateral to get loans here in Georgia. For now we only have the start up funds and are trying to offer high rates to increase the portfolio. Some of the MFO's here are offering even higher rates on deposits (up to 20%) but they tend to take more risk and charge higher rates to their clients even 5-6% per month.

 

I never said this was riskless, most things aren't, but some are willing to take some risk to earn higher returns and as I said I can demonstrate a business plan that mitigates the risk. All loans will be backed by collateral that will be at least worth 2-3 times the value of the loan and most cases more, so if a loan goes bad, no losses will be made on repossessing the collateral. As I mentioned earlier, happy to speak on the phone or meet in person or send more information.

 

Sure I can never prove this as riskless (no business can), but I can prove enough equity/collateral or other guarantees to justify money being invested. I will also continue working at my current job and would be happy to use that as part of the guarantee (providing it is not more than I could get approved for at a bank). Georgia's legal system is modeled after the US, so if you have an agreement and someone doesn't pay, you can garnish wages, repossess collateral, etc. If you don't believe me, write to DLA Piper an international law firm with offices all over the world and run by an American here in Georgia.

 

In any rate, I won't keep posting here as it seems as if people think I am running some kind of scam or something and I don't need the sarcastic comments. If someone wants to know more, please pm me and I am happy to answer any questions.

 

However, after we get up an running, I will post links to our website with our results and you will be able to see if I was full of it (as mentioned by many above) or I am serious.

  • Upvote 1
Link to post
Share on other sites

Actually if you do a little research, Georgia is very stable at least compared to other countries in the region. There is almost no corruption (like in surrounding Azerbaijan, Armenia, Russia, etc) and they rank very highly in the ease of doing business rankings and transparency. During the financancial crises no banks collapsed here. How many countrires can say that? As usual, do your own research, but don't be so quick to judge Georgia as just another post soviet corrupt society. It is exactly the opposite.

 

http://www.doingbusiness.org/rankings

 

Comparing to other countries in that shithole of a region is a pretty low standard.

Link to post
Share on other sites

Comparing to other countries in that shithole of a region is a pretty low standard.

 

Hmm...have you been here? I have lived/worked in many places in the world and there are far more "shitholes" than Georgia. By the way, the Habs blow. :bhappy Go Wings....

Edited by davebuczek
  • Upvote 1
Link to post
Share on other sites

Some of the other guys on the board know me, so you can ask around about the type of person that I am and if I am a bull shitter or not.

 

I'm the one... the guy looked for me not a bullshitter.... at least he learnt to speak russian perfectly, what is a big effort to establish something... I met also his georgian staff looked OK.... ( we talked in russian and georgian... bet it.. I speak a bit georgian... ) OK.. I know, it is something really small thing...Until I can get 8% in Hungary i lament....but being an EU / USA member with the 1-2 % I would try their offer... OK... just with an amount I'm ready to lose.. High income, high risk... Georgia even for me is a big question....( despite of my local knowledge ) but however.... how many of you would invest in my hungarian local bank account I invested all of my money and I receive the 8 % and i count it safe... only because i'm hungarian and I feel myself safe and home... ... and I only hope I have some knowledge...and i may be wrong...

Edited by Gabor
  • Upvote 1
  • Downvote 1
Link to post
Share on other sites

I'm the one... the guy looked for me not a bullshitter....

 

Didn't you give a load of cash to some geezer who "looked not a bullshitter" and that was the last you seen of him? :clueless

 

how many of you would invest in my hungarian local bank account I invested all of my money and I receive the 8 % and i count it safe

 

A pretty shitty return when the forint has nosedived on the fx markets.

Edited by CheshireTom
  • Upvote 1
Link to post
Share on other sites
  • Recently Browsing   0 members

    No registered users viewing this page.


×
×
  • Create New...