Author Topic: Money in both worlds?  (Read 6828 times)

Amelia

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Money in both worlds?
« on: May 01, 2014, 06:17:18 PM »
Curious about how many people have accounts in Prosper and Lending Club and which one are you adding new funds to nowadays?  I only have a Lending Club account but am wondering if it's worth opening a Prosper account as well?

dontvote

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Re: Money in both worlds?
« Reply #1 on: May 01, 2014, 06:52:21 PM »
I have money in both and my returns are significantly higher in prosper (strangely since I use identical criteria to pick loans) but allocating capital is a super chore without all of the cool 3rd party things that invest for you at LC.

Nickelsteamroller has a link that I'm exploring but haven't implemented yet. After that I'll be indifferent probably. I'm not sure how different the pool of loans is for each service but though prosper is pretty far behind LC in 'maturity' it's still pretty good.

In the beginning I wanted loans on both platforms to reduce platform specific risk. Now LC is looking pretty stable and prosper hasn't died yet.
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rockinray

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Re: Money in both worlds?
« Reply #2 on: May 02, 2014, 07:47:08 AM »
I have my main account with Lending Club, and I have a small account for my Wife with Prosper.

While we only buy A - C notes at Prosper, so far that account has performed quite well for her.

Ray

Emmanuel

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Re: Money in both worlds?
« Reply #3 on: May 02, 2014, 04:57:53 PM »
I have money in both and my returns are significantly higher in prosper (strangely since I use identical criteria to pick loans) but allocating capital is a super chore without all of the cool 3rd party things that invest for you at LC.

I know of at least one 'cool 3rd party thing' that supports Prosper  ;)

rawraw

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Re: Money in both worlds?
« Reply #4 on: May 03, 2014, 08:34:27 AM »
Prosper did a lot of harm to the reputation of P2P.  When people try to research it, they find lots of data about Prosper 1.0.  I started investing in those times and decided that Prosper was too advanced for me.  Good thing I did that and I've never looked back.

pd103kid

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Re: Money in both worlds?
« Reply #5 on: May 03, 2014, 10:01:58 AM »
I have two accounts at Lending Club ( one taxable and the other an IRA ). Oddly, I like the Prosper platform better than Lending Club for ascetics but saw no reason to open an account there as well. I did recently create an account with 'Upstart' for I like the concept. Other crowd funding sites I am associated with include Kickstarter and Kiva, Kiva Zip. I have no return on the latter sites aside from satisfaction.
Continuing to recover from Open Heart surgery to replace my Aortic Valve along with the implantation of a Pacemaker. Life continues on but at a much slower pace...

Natalie-OBX

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Re: Money in both worlds?
« Reply #6 on: May 08, 2014, 03:51:31 PM »
I started with Prosper, but all new money goes to Lending Club.  There seems to be many more loans there that meet my criteria.  Prosper seems to give the edge to the institutional investors IMO, and that makes it difficult for me to deploy my money.  As of right now, I will continue to reinvest proceeds on Prosper, but I don't add new money.

--Natalie

twigster

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Re: Money in both worlds?
« Reply #7 on: May 09, 2014, 11:14:44 AM »
I started with small accounts at both just to fund and see how they would do.  They were both similar risk profiles.  Right off the bat the prosper account had several defaults which I thought was strange.  After a while though the two accounts somewhat evened out with LC earning about a percent or so more than LC.  I still like both platforms although it is harder to get the loans on prosper.

BruiserB

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Re: Money in both worlds?
« Reply #8 on: July 18, 2014, 03:00:36 PM »
I have money in both and my returns are significantly higher in prosper (strangely since I use identical criteria to pick loans) but allocating capital is a super chore without all of the cool 3rd party things that invest for you at LC.

I know of at least one 'cool 3rd party thing' that supports Prosper  ;)

I was thinking of opening a Prosper account and giving that one 'cool 3rd party thing' a try.....I actually went through the opening process this morning and am waiting for the bank account verification deposits to be made so I can fund the account.

However I'm having second thoughts.....the Prosper boards here are all but dead.  Looking at the recent loans on LendingRobot shows only a few loans and the "Expected Returns" on Prosper currently top off at only 7.6% and there were only 15 loans in the last release.  Is that typical?

I know Bryce was also setting up his algorithms for Prosper, but not sure how we can use them as BlueVestment only supports Lending Club.

Not worth setting up another account if it's going to be difficult to get funds invested, even using third party tools!

PennySaved

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Re: Money in both worlds?
« Reply #9 on: July 18, 2014, 05:59:56 PM »
I have money in both.  I started off in Prosper.  Then when Prosper stopped letting lenders make new loans while they were getting registered with the SEC, I start making loans in LendingClub.  Even when Prosper allowed me to lend again, I kept adding money to LC.  I was worried about Prosper for a while because they had a lawsuit, LC was outrunning them in funding etc.  But then recently Prosper seemed to have started to turn around, new management, new growth in funding and issuing loans, so I started to invest a little again with them.  Most of my peer-to-peer lending money is in LC is in a regular account and I also have a Roth there. I used to invest manually at LC, now I use Interest Radar.  I invest manually at Prosper, but I only have a couple of thousand there.

lascott

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Re: Money in both worlds?
« Reply #10 on: July 18, 2014, 06:18:30 PM »
Curious about how many people have accounts in Prosper and Lending Club and which one are you adding new funds to nowadays?  I only have a Lending Club account but am wondering if it's worth opening a Prosper account as well?
I have accounts on both and most money in LC because of more 3rd party tools and automation.  www.LendingRobot.COM (LR) just came out with a new rule criteria "Expected Return" for Prosper that encompasses a lot of variables so I am starting to use that as of yesterday.  Prior to that my "manual" criteria only picked 1 loan in a month.  I am also planning on using whatever 3rd party tool partners with P2P-Picks for it's new Prosper model.  I am using P2P-Picks via BlueVestment (sorry, close to new user) for Lending Club and am very happy with P2P-Picks so far.

Be aware the grades don't line up. LC:C <> Prosper:C
http://www.nickelsteamroller.com/#!/


LR new criteria: http://www.lendacademy.com/forum/index.php?topic=2474.msg21162#msg21162 & http://blog.lendingrobot.com/post/92058702871/lendingrobot-can-improve-returns-in-peer-lending

P2P-Picks Prosper modeling: http://www.lendacademy.com/forum/index.php?topic=2412.0
Tools I use: (main) BlueVestment: https://www.bluevestment.com/app/pricing + https://www.interestradar.com/ , (others) Lending Robot referral link: https://www.lendingrobot.com/ref/scott473/  & Peercube referral code: DFVA9Y

brycemason

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Re: Money in both worlds?
« Reply #11 on: July 19, 2014, 03:12:40 PM »
I've got money in both worlds. My high yield strategy is with LC and I have a more conservative account at Prosper. I haven't added money to my LC account in years and I've only begun my buying on Prosper. It's pretty slow going, because Prosper allocates a lot of its new loans to the whole loan side of the house. However, I have always considered this asset class as slow in and slow out, so it doesn't bother me too much. At $50 fractions, it's about 3 weeks to invest $2500. Then I bring in another $2500. Perhaps 9 months to invest the $25000 desired. I am seriously considering buying fractions off folio to stand up the portfolio sooner, as a third party has implemented my model in a way that can score the secondary market loans (as they would have been at first release, but with the additional benefit of bidding on those that have increasing credit scores and good payment histories).

BruiserB

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Money in both worlds?
« Reply #12 on: July 19, 2014, 03:21:34 PM »
I am seriously considering buying fractions off folio to stand up the portfolio sooner, as a third party has implemented my model in a way that can score the secondary market loans (as they would have been at first release, but with the additional benefit of bidding on those that have increasing credit scores and good payment histories).

Will that third party be making their service available to the public?  Or are there others that will be offering your picks through their sites.

I had been hoping to give Prosper a try and was thinking of putting about $10K in, but seems like it would take forever to get fully invested....right now I have no trouble keeping funds invested at Lending Club.  Maybe I'll hold off for a while.  I also like the idea of Upstart, but they are completely untested at this time.
« Last Edit: July 19, 2014, 03:41:52 PM by BruiserB »

turing

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Re: Money in both worlds?
« Reply #13 on: July 28, 2014, 02:10:10 PM »
I'm only invested in LC at this time.  I'm curious about Prosper, but most of what I have read about it makes me a bit hesitant.  I'm very happy with LC and speed to deploy funds and tools available with LC.  Maybe someday I will do Prosper too, but not worth it for me quite yet.