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Started By
Message
Anyone Ever Invested with Lending Club?
Posted on 12/16/13 at 6:11 pm
Posted on 12/16/13 at 6:11 pm
Read a Forbes article today from last week about Lending Club (online peer lending group) with consistent, solid returns over its 7 year existence.
Read another article in MoneyWatch where the author was a bit critical of it, but said he'd probably still invest with them in the future, and then a followup by the same guy last month that said all of the issues he had in the first article had been fixed (he complained of exaggerated reports on returns).
Forbes Article
Read another article in MoneyWatch where the author was a bit critical of it, but said he'd probably still invest with them in the future, and then a followup by the same guy last month that said all of the issues he had in the first article had been fixed (he complained of exaggerated reports on returns).
Forbes Article
quote:
In the seven years since the Lending Club platform launched, 99.9 percent of portfolios with more than 100 notes and/or no more than 2.5 percent allocated to any single note have experienced positive returns. By comparison, portfolios with fewer than 100 notes, and/or more than 2.5 percent of the portfolio invested in an individual note, had negative returns 11.44 percent of the time.
5
Posted on 12/16/13 at 6:16 pm to TotesMcGotes
Also, I searched. All I could find was another thread where OP asked about it and another poster told him to search because it had been discussed in the past. Couldn't find anything, though.
Posted on 12/16/13 at 6:27 pm to TotesMcGotes
I have no experience myself but I don't have the time to analyze 100+ small personal loans to people who didn't want to go the traditional route for whatever reason.
It isn't enough to merely be profitable, you have make enough more over other investment possibilities to make it worth your while. And I just don't see it.
It isn't enough to merely be profitable, you have make enough more over other investment possibilities to make it worth your while. And I just don't see it.
Posted on 12/16/13 at 6:48 pm to TotesMcGotes
There was like a 15 page thread here about five years ago about it.
Posted on 12/16/13 at 6:54 pm to TotesMcGotes
I did a very small amount a couple years ago and made about a 9% return. Its a lot of work and I didn't have the time.
If you want to take the time looking at loan applications, asking questions, and the such, you can make a good return. A buddy of mine did it at the same time as I did and he's still in it doing well.
If you want to take the time looking at loan applications, asking questions, and the such, you can make a good return. A buddy of mine did it at the same time as I did and he's still in it doing well.
Posted on 12/16/13 at 9:08 pm to anc
quote:
If you want to take the time looking at loan applications, asking questions, and the such, you can make a good return. A buddy of mine did it at the same time as I did and he's still in it doing well.
Well, that's kind of the point.
If you can make 10% in today's rate environment, that sounds pretty solid.
Until you consider that you can make 5% in corporate bonds just by clicking a button.
So for the extra 5% you have to work for it. If you have $1 million to invest then you are getting all of $50K/year. Not bad. But if you have $10K to invest then you are getting $500/year, and that's just beer money.
Posted on 12/17/13 at 1:31 pm to TotesMcGotes
I put $1,000 in it in March 2012. I have an annualized return right now of 9.37%. It was more of a hobby. I'm thinking about uping my portfolio to $5,000.
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