I am on Lending Club and have had a good experience. I make about 10% total with 14 loans currently open. If you decide to sign up, feel free to use my affiliate link. It used to get you $25 when you sign up (still might).

http://www.anrdoezrs.net/click.....2-10880284

 

Hi,

Thanks for the updates, I was hoping that I could do a guest post on your sites. The topics will be on finance and law. Please let me know if you are interested. Will be waiting for your reply.

 

Thanks,

Patricia

patricia.garner8510@gmail.com

http://www.anrdoezrs.net/click.....2-10880284

I'm thinking about investing in the Peer to Peer market via sites like Lending Club or Prosper.

Has anyone invested in P2P before?  What kind of ROI can you expect? What amount should you start with?

Would love some insight into this.

Peter from Bible Money Matters (a Yakezie member) posts his success with Lending Club: http://www.biblemoneymatters.c.....6-returns/

I'll stick with my risky forex trading :)

There are some tips and tricks to smart lending, not just diversification as most believe. For example, there are tools and filters to get rid of certain bad apples, like anyone from California (seriously).  I'm planning a post on this later in the week if you want to look out for it.  In the meantime, check out http://www.lendstats.com for come filters and analytical tools.

I'm also planning to do a monthly update to my lending going forward, with continued analysis of investment types on Lending Club.  My current plan is to trickle in $500/month up to as much as $30K if I continue to have good results and feel comfortable with it. 

Note: I do not expect to stay at 15% NAR, but anything over 8% is icing to me.

I never liked lending out money in places like this because the people that are borrowing are getting denied from the banks for a reason. They're more likely not to pay you back.

Not all the borrowers were turned down from more traditional lending sources.  Some are attracted by the lower interest rates.  Also, you can select the grade of note.  The more risk you take, the greater the potential reward (as with everything in life, right?).

Lending Club will create a payment plan and attempt collection on delinquent borrowers as well...and they are quite effective, in fact I havent had a default in the 18 months I have been buying loans...though I buy on the secondary market and not the initial lending platform, im handcuffed to Michigan law.

Pros:  My return on investment is 15%, I have had a 0% default rate, and maybe 5% delinquency rate, of which I have received late fees as compensation.

Cons: You need to continuously reinvest the money so that it never stays stagnant, and you need to buy in small loan amounts to mitigate risk.  In other words, it's time consuming, and extremely illiquid.  Because of this, I dont know if I want to invest more money into it.

I never liked lending out money in places like this because the people that are borrowing are getting denied from the banks for a reason. They're more likely not to pay you back.

Has anyone invested in P2P before?  What kind of ROI can you expect? What amount should you start with?

Would love some insight into this.