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Started By
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1
Posted on 4/26/15 at 8:37 am to TJG210
yeah I know.. just trying to keep the thread going.
Posted on 4/26/15 at 10:38 am to b-rab2
I put in $25 every two weeks.
Have 9 loans. I enjoy the relatively quick feedback you get from the repayments.
Just a bit of side fun.
Have 9 loans. I enjoy the relatively quick feedback you get from the repayments.
Just a bit of side fun.
Posted on 4/26/15 at 10:59 am to Teddy Ruxpin
I put in 500 and every time I get paid back 25 I invest it. Trying to compound my interest.
Posted on 4/29/15 at 4:42 pm to TJG210
So what's everyone's long term goal with Lending Club?
Is this something that you'd like to have upwards of $50,000 in?
Is this something that you'd like to have upwards of $50,000 in?
Posted on 4/29/15 at 4:49 pm to bayoubengals88
I know some prefer to IRA their lending club, but as of now I have it as taxable. I'd like to have to where it generates at least a few hundred a month in extra passive income. So I suppose something along your number is what I'm aiming for.
Posted on 4/29/15 at 5:04 pm to Teddy Ruxpin
At that point you'd be managing 2,000 loans.
Would it be a tax nightmare?
Would it be a tax nightmare?
Posted on 4/29/15 at 5:08 pm to bayoubengals88
quote:
At that point you'd be managing 2,000 loans.
Would it be a tax nightmare?
My understanding is that Lendingclub simplified the tax form they sent to you because of this very issue so its no longer a problem, but maybe others will chime in.
This post was edited on 4/29/15 at 5:09 pm
Posted on 4/29/15 at 6:13 pm to Teddy Ruxpin
I have all of my investments through my ROTH, so I don't know.
ETA: I would imagine it would be the same as owning a bond portfolio.
ETA: I would imagine it would be the same as owning a bond portfolio.
This post was edited on 4/29/15 at 6:14 pm
Posted on 4/29/15 at 7:55 pm to Teddy Ruxpin
So you started about two months ago? Whats your allocation with 9 loans? As,Bs,Cs etc.
I put $100 in LC last night. I'll start doing $100/month, but I might wait to invest.
I put $100 in LC last night. I'll start doing $100/month, but I might wait to invest.
Posted on 4/29/15 at 8:27 pm to bayoubengals88
I started with $1k 3 months ago for shits and this will be the first month I have the whole amount fully invested so I'm curious to see how it goes, if all is well I may throw a few more bucks in. My current allocation is 44% A, 46%B, 10%C.....I may try to up my C loans with my next purchase.
Posted on 4/29/15 at 9:04 pm to TJG210
quote:
I may try to up my C loans with my next purchase.
Definitely. Eventually I plan on having less than 20% A rated.
I'm thinking
A 12%
B 30%
C 40%
D 15%
E/G 3%
That's what I'd like to have after 100 notes.
There are decent Cs and Ds to be found.
This will be my obsession when I'm off during the summer
Posted on 4/29/15 at 10:43 pm to bayoubengals88
I only got a few hundred bucks, I have it set for $25 every two weeks but will move that up to every week. I've had so much money flowing through my accounts the last couple weeks I had to pause every thing just to see what the hell was going on.
I went:
5% A
25% B (keep bouncing between this and 30%, not like it matters right now)
45% C (40% or this)
20% D
5% E
I went:
5% A
25% B (keep bouncing between this and 30%, not like it matters right now)
45% C (40% or this)
20% D
5% E
This post was edited on 4/29/15 at 10:46 pm
Posted on 6/30/15 at 1:09 pm to Teddy Ruxpin
So just received the email that Lending Club is now available in Texas. About to deposit some cash and see how it goes.
Posted on 6/30/15 at 1:24 pm to Htown Tiger
quote:
So just received the email that Lending Club is now available in Texas. About to deposit some cash and see how it goes.
YES!
I want to do a lot of research before going in. You really need >200 notes to mitigate risk effectively....a handful of notes doesn't do much and is quite risky.
Riskier portfolios are driving higher net returns. There are tons of blogs on this topic that share the best filters to use to beat the system.
Posted on 6/30/15 at 1:24 pm to Teddy Ruxpin
LC stock is really know...too much competition now?
Posted on 6/30/15 at 2:12 pm to bayoubengals88
Nope. I'm almost done cashing out. Few more loans and I'm done with it. Private lending secured with real estate is much better. But I had to give lending club a shot. It was ok but there are far better investments out there. Yes I was diversified through all credit types.
Posted on 6/30/15 at 3:56 pm to Fat Bastard
What's average return are you looking at? How long did you try?
What's one example of private lending secured with real estate?
What's one example of private lending secured with real estate?
Posted on 12/14/15 at 2:17 pm to TJG210
Anyone still doing this? If so, how's it going?
Posted on 12/14/15 at 2:23 pm to b-rab2
I'm still doing it. $25 a week. Got a little over $1,000 in and 47 notes, so I'm not at that 200 note full diversification level yet.
Shade under 7% return because one note is well over 30 days past due. Dude took out 30k and hasn't made a payment yet.
Just fun money.
Shade under 7% return because one note is well over 30 days past due. Dude took out 30k and hasn't made a payment yet.
Just fun money.
This post was edited on 12/14/15 at 2:24 pm
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