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Money and Finance Because you have to save money to spend it on new paintball stuff! |
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Post Whore Join Date: Feb 2007 Location: SE Minnesota | Does anybody else here invest using lendingclub.com?
Just curious if anybody else here is investing with lendingclub.com and what filters you might be using to pick your loans. Stats for myself as of 4/17/2015 -Started about 14 months ago -$7650 adjusted account value -10.56% adjusted net annual return -315 notes -2 defaults -5 currently 31 to 120 days late Current filter (not terribly strict, but seems to be working) -Approved loans only (otherwise it seems to take forever to go "live") -700 credit score or greater -0 inquires in the last 6 months -50/50 mix of 36 and 60 month notes -Mostly $25 per note, occasionally doing $50 ^Using that generally only leaves notes with ratings in the A1 to B4(ish) range. I'm expecting in the next several years my return will drop down to the 7% or 8% range (especially because I'm playing it safer now than the first couple of months), but I think that's still a pretty reasonable rate of return. Currently transferring in about $150/week. Last edited by blackmagic71; 04-17-2015 at 10:18 AM. |
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Slowly making progress Join Date: Apr 2008 Location: Vail, AZ |
I've had this site bookmarked for a while now to start doing this. You putting $600 a month into your account is going to be pretty sweet after a while.
__________________ >>> Link to prototype Dust Devil<<< |
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Fire Avatar by Flounder |
One tried to sign up but citizens of the great Commonwealth of Pennsylvania are not presently welcome. Same for Arizona; sorry, DT. "Currently only residents of the following states may invest in Lending Club notes: CA, CO, CT, DE, FL, GA, HI, ID, IL, KY, LA, MA, ME, MN, MS, MT, NH, NV, NY, RI, SD, UT, VA, VT, WA, WI, WV, or WY."
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CAX I am "SPARE EDDIE" Last edited by Axel; 04-17-2015 at 03:14 PM. | |
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Slowly making progress Join Date: Apr 2008 Location: Vail, AZ |
Gah, WTF? I wonder what ancient law is holding this back as an unintended consequence.
__________________ >>> Link to prototype Dust Devil<<< |
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Post Whore Join Date: Feb 2007 Location: SE Minnesota | Quote:
More hard credit inquires general means more risk and that somebody has been applying for more credit. If I'm lending out money I don't want it to go to somebody that just got their 4th credit card or something. Not sure if that's a wise filter or not yet (or if my reasoning is even sound), but it seems to be working so far, and I'll really be able to tell in about 12-24 months. Basically I know enough right now to be dangerous and I'm still feeling things out. I think for the moment I'm going to try and maintain a 50/50 stocks vs LC split on my investing (excluding 401k which is a whole different can of worms.) | |
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