How does p2p lending sites REALLY work? How to get a personal loan with low interest rates?

[FortNikitaBullion]

Is there a way to rip off people on these sites?

[Acoltsnut29]

I buy properties in Indianapolis, IN and Ohio for fix and flip. Contact me if you’re interested in being a private lender. Your money is secured by real estate at no more than 70% LTV (loan to value).

[Acoltsnut29]

I have no idea why people would lend out unsecured money. Find a successful real estate investor in your area and become a private lender to them. Real estate investors are always looking for more money in order to complete deals. Make sure you complete proper due diligence first before lending to anyone.

[Acoltsnut29]

I know people who lost money on sites like Prosper. I told them not loan out unsecured money but they didn’t listen. Now they lend money to me for my real estate investing business. Their money is now secured and protected by the property. I pay them 12% simple interest on their money and I flip it every three to four months.

[FortNikitaBullion]

I lost hundreds doing this. Anyone have good experiences?