Comments on: Lending Club – November 2013 Update

By: writing2reality

writing2reality — Sun, 02 Feb 2014 18:50:31 +0000

I'm glad you've decided to return to P2P lending. There are definitely many more tools available these days. I would highly recommend you take a look at Nickel Steamroller, which has a tremendous amount of resources for investors.

By: Pullingmyselfup

Pullingmyselfup — Sun, 02 Feb 2014 14:17:19 +0000

Thanks for the update W2R as I am seeing that I have a bit of catching up to do with LC in learning and seeing all the tools and ways of thinking about it. I started out in 2009 but walked away when I was not liking the trading platform. I’ve returned and am more comfortable with it.

By: writing2reality

writing2reality — Tue, 28 Jan 2014 14:51:22 +0000

I don’t particularly care much for what my NAR return says, and am more concerned with the actual returns. Certainly I have seen some losses, but none of them have been at full value ($25 per note). Of the 15 notes in grace period or late status, I might lose $150-200 of that. Considering the time frame it will take to lose that, I am more than satisfied with my resulting double digit returns.

Charge-offs and defaults are a part of P2P lending, and I have accepted that risk. So at the end of the day, my current losses have been ~$125, and a total of ~$328 more is currently at risk. Again, not all of it will result in a loss of principal.

I know you miss the edge, however I’m sure you must have been aware that the gravy train had to stop at some point? Any company worth anything would eliminate those loopholes which put naïve buyers at an unfair disadvantage.

Appreciate your thoughts and stopping by Martin!

By: Martin

Martin — Tue, 28 Jan 2014 04:32:41 +0000

Nice NAR, but that lost 150 plus another 375 at risk is bothersome to me. That effectively lowers your earned interest from 1351.11 down to 826.11 to cover the loss or around that number, correct?
I don’t know, I still miss my edge

By: writing2reality

writing2reality — Mon, 27 Jan 2014 21:06:33 +0000

Thanks RBD! Getting closer to catching up to the present!

By: writing2reality

writing2reality — Mon, 27 Jan 2014 21:06:07 +0000

Not too shabby, eh?

As a sneak preview to my 2014 goals, I’m aiming for the $2k mark of P2P lending net interest in just one year!

By: CI

CI — Mon, 27 Jan 2014 05:10:56 +0000

Wow, you’ve already made over 2 grand in interest! That’s insane!

By: retirebeforedad

retirebeforedad — Sun, 26 Jan 2014 20:37:17 +0000

Numbers look good. Steady progress with the update!
-RBD