Comments on: Lending Club beat my expectations

By: Making Extra Money With P2P Lending — P2P No Bank

Making Extra Money With P2P Lending — P2P No Bank — Sun, 29 Mar 2009 23:39:22 +0000

[...] Lending Club beat my expectations I didn’t expect this result. When I opened Lending Club accounts for my wife and I over a year ago, I intended to lend out a little bit of money here and there, but not risk any real cash. For me, Lending Club was a diversion. Looking at borrowers…… [...]

By: Start earning money again | rocket finance

Start earning money again | rocket finance — Wed, 04 Mar 2009 03:42:40 +0000

[...] have been no defaults or late payments on the loans that I made over fourteen months ago and my return on investment was close to 10% over the past [...]

By: jon

jon — Mon, 16 Feb 2009 19:56:35 +0000

Lara, thanks for the info – yes of course you can increase your return by hustling to re-invest your received payments. I was just surprised that 9.63 translated to 4.93 effective yield on that initial investment.

I see they have their javelin report but that seems to make the assumption that you money is always fully invested.

By: rocketc

rocketc — Mon, 16 Feb 2009 18:09:22 +0000

Lara, I am not going to put my whole life savings in LC, but if things continue like this, I have to invest more.

By: Lara

Lara — Mon, 16 Feb 2009 17:58:21 +0000

I’m a lender too and my results are very close to you. I went risky though (interest rates of 15%) and got a few loans go on default. Thankfully, I had enough loans to absorb that and I’m still making 9% returns after almost a year.

@Jon: The trick is to reinvest the money, which you won’t be able to do with just a $25 investment.