Quote:
Originally Posted by Yoda
Do I understand that, using collateral in the vault, PWCC and Goldin allow bidders to employ margin trading in their auctions? First time I have heard of that ploy. Nice to have leverage in a bull market.....but.
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Unless I’m getting different terms than the high rollers, these margin loans might not be all that helpful for flippers even. I’ve only seen loans at 40% of purchase price and for 2 month terms (extensions theoretically possible but not guaranteed), and at 12% interest rates (ie 1% per month). While it’s not nothing, it does seem like a flipper would still need to put up a large chunk of change, and would need to be ready to flip really fast before either their loan comes due, the interest eats up their profits, or their item drops in value.