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Finance & Stock Groups Forum Index » Financial Planning » Investing in Prosper
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| rajiv1 |
 Posted: Mon Aug 13, 2007 1:07 pm |
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Guest
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Has anyone tried out lending with www.prosper.com? What has been your
experience so far?
Rajiv |
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| Guest |
| Posted: Mon Aug 13, 2007 1:37 pm |
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On Aug 13, 2:07 am, rajiv1 <raj...@gmail.com> wrote:
Quote: Has anyone tried out lending withwww.prosper.com?What has been your
experience so far?
I put a tiny bit of money in to test the waters. Participated in 17
loans -- after about a year, 1 loan has defaulted and 2 loans are
late. (One of those late loans has been late before twice but has
caught up each time.) If this pattern continues, I'll end up with
probably 6 defaults over 3 years putting my return at about 5%-7%
annualized.
At that return, not worth the effort. It's quite the hassle to find/
research loans, dealing with snipers who push you off good loans at
the last minute and having your money sitting around earning no
interest during the bidding/funding/origination stage. |
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