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re: Tell me about lendingclub.com - pretend I'm a 4-year old child
Posted on 1/19/15 at 1:35 pm to TheHiddenFlask
Posted on 1/19/15 at 1:35 pm to TheHiddenFlask
I have around 850 notes, $25 in each, I set my investing at 7% A loans, 45% B loans, 35% C loans, 10% D loans, and 3% E loans, I stay away from F and G loans, great returns but to risky for me.
I get a Net Annualized Return so far right at 12%, however every time I get over $25 in my account it is put back into another loan so my compounded return is just over 20%.
They have done over 6 Billion in loans, the average charge off is 2% of loans, with only $25 per loan I expect to lose less then I would pay in brokerage fees over the same time frame.
Since I don't take money out and let it compound at around 20%(after fees and charge offs)I expect to double my money every 3.5 years.
I get a Net Annualized Return so far right at 12%, however every time I get over $25 in my account it is put back into another loan so my compounded return is just over 20%.
They have done over 6 Billion in loans, the average charge off is 2% of loans, with only $25 per loan I expect to lose less then I would pay in brokerage fees over the same time frame.
Since I don't take money out and let it compound at around 20%(after fees and charge offs)I expect to double my money every 3.5 years.
2
Posted on 1/19/15 at 1:38 pm to dantes69
I put in my first few buck last week. Your strategy is similar to what I've researched I should do.
Posted on 1/19/15 at 1:58 pm to dantes69
quote:
dantes69
How does it work as the borrower? An employee asked me to help him clear an irs lien. I suggested this type of loan and he applied right in front of me in my office. It said something g like "no match" or whatever.
Btw...he has 650 credit which is lowered by the lien which be immediati released when he pays the 12-13 k.
I do NOT want to lend a rep money. Where else or how else should he be approaching thru loans like the site you invest in?
This post was edited on 1/19/15 at 2:19 pm
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