Comments on: Investing in P2P Lending Notes for Future Income

By: Mike

Mike — Mon, 17 Nov 2008 17:42:57 +0000

@Larry, I'm glad you like Lending Club so much. @Ed, You're correct
that I didn't consider unpaid loans in this post. For future
planning purposes you might be interested in "http://www.richerbytheday.com/2008/11/p2p-lending-default-considerations-part-2.html">
the recent analysis I did on that subject.

By: Ed

Ed — Sat, 15 Nov 2008 17:16:14 +0000

This is a good plan. But you didn't really consider the loans that
won't be repaid. Projecting my portfolio into the future shows that
I will probably end up losing money if the number and frequency of
defaults continues. I'll be waiting to see how efficient the
collections process is before I make any new loans.

By: Larry

Larry — Sat, 15 Nov 2008 05:49:01 +0000

Great Article! Im working a similiar program myself. My goal is to
earn a weighted average of about 12%. I deduct money from my
paycheck every week and invest in notes on the trading console once
a month. I graduated rutgers university in 2008 with a dual degree
for Finance/Accounting and I couldn't be happier with the lending
club site. Lending club allows me to become the bank.