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Started by Snow, August 18, 2018, 11:02:12 PM
Quote from: tdswim on September 15, 2018, 08:32:24 PMNo, I'm not contributing currently. My net annualized return (with standard LendingClub adjustments) is sitting at 4.6% with a weighted average 15% interest rate and 20.3 month weighted average age on the loans. LendingRobot was running a promotion a couple months ago (still might be) to manage a few thousand for free. If returns improve, I'll let it ride. If not, I'll run it off over time and withdraw it. I've only had LendingRobot managing the portfolio for a couple of months. It's nice not having to manually select loans but it's essentially an experiment. Speaking of experiments, I've been putting a small amount into loans on Groundfloor instead. It's a crowdfunding site for house flippers and accepts funds from non-accredited investors. I like the concept of having collateral on the loans, shorter payoff periods, and the fact you only have to push a few buttons to throw $10 towards each loan (no hard labor). They list a dozen or so houses a week usually. It's a pretty niche loan market with a new company - I wouldn't recommend anyone invest their rent or mortgage money on there (or LendingClub/Prosper for that matter). I like the concept of funding the hussle more than funding who knows what with uncollateralized P2P loans.
Quote from: Eddie on October 21, 2018, 12:33:56 PMYour funds are locked in for a very long time and there's always a risk of the loan defaulting.
QuoteYour funds are locked in for a very long time and there's always a risk of the loan defaulting. This part is a major downside of P2P lending. It's easy to put in lump sums into the platform. Withdrawing money is going to take me 2+ years. Aside from default risk, the liquidity risks are understated, in my opinion.