When I initially posted my Lending Club review last December, I promised I would give periodic updates. That time has come. I’ll let my screenshot speak for my results:
As you can see my performance has increased from 10.45% to now an annual return of 11.27%. Some highlights in my investing for the past three months:
- I sold one note on FOLIOfn because their credit score lowered significantly, and I was concerned they were going to either become a late payer or default.
- I now have 38 notes total. One paid in full early. No defaults or late payments.
- I just added an additional $1k this month and plan on investing in more notes
Come June, I’ll be investing in Lending Club for one year. So far I’ve had great results and been happy with experience.
$38 bucks, nice! Don't go spend it all in one place now!
When you gonna drop the really big bucks in Lending Club like I know you got. If you invested $100,000, you'd have a nice $11,000 return!
Best,
Sam
Yea yea I know. $38. This is a proof of concept, so far has worked really well. I believe I would max out at $25,000 in my security bucket.
Very nice! I like the idea of P2P and am currently involved with Prosper because I heard of them first. Do you invest in a ton of diff notes or do you do large amounts in a few notes? Not sure if you care but you can check out my prosper account from Dec 2009:
http://www.myjourneytomillions.com/articles/revie…
I have a total of 38 notes currently. It's a mixture of $25 and $50 notes. I go with $50 notes when I believe their is a mis-pricing of the note to the level of risk. My goal is to eventually go to $5000 in the next year. I plan on building it up gradually. This is because of the possible default rate is at it's highest at 18 months and also spread out he loan payments and picking what I think are the best of the bunch.
After reviewing Proposer I was not a big fan of it. This is based upon the default rate, which I think now they have somewhat under control.
Nice job! I started with Lending Club in January and have also put up a few updates so far. I don't have as much total invested, but I hope to keep increasing it.