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Messages - LendingClubStatistics

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I worked construction since high school  through some of college and know if I was a landlord I would be doing all the work myself because 1) I hate paying others for a skill (probably a lesser skill) than I have and 2) I'm want to know the work is reliable and I'm not getting duped and and I know how often shitty work happens having been on hundreds of work sites. It would literally suck all my time up - kiss grad school and alternative investments goodbye.

That's just me. Some people will find real estate still a decent investment, albeit real estate has a higher cost of entry for most people. but if we're commenting here that probably isn't a HUGE deal... Still most of the construction guys I worked with had property - the only ones that made anything were the guys who obviously had a better quality of life financially were the ones who could afford to put a sizeable amount down (30k+ on a 75k 2 flat or so) so they were banking $500-$1000 a month per property after taxes instead of $200-$300 (but paying down a mortgage). Most of those guys also went for section 8. I'm not looking to own a crap hole that hurts me everytime I have to look at it - even if the government does pay the bills.

You're right, doing the work yourself is absolutely necessary to maximize your profits. Plus, no one will do the work how I will.  It is one of the reasons I will likely not buy another rental property unless I want to leave the corporate world and semi-retire.  It all depends on the area you live in.  I still manage to pull a good profit with 20% down ($762/month before income taxes, but after property taxes, principal & insurance, etc). Plus, when I bought interest rates were near their bottom so I opted to go with a 30 year. 

Anyways, I got off topic, but I'll add that a third or a half is putting way too many eggs in one basket IMO.

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I'm holding steady at 10% of my portfolio not including a rental property.  Given the returns so far, I always want to invest more, but I just need to take a step back and stick to the 10%.  The more I save, the more I get to invest :)

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Off Topic / Lending Club Statistics
« on: September 12, 2013, 11:27:40 AM »
We were hoping to get some ideas from others about some high level statistics that might be valuable to people here when they are considering filters.  Mods, please move/remove this if need be.  Currently, we have created a simple graphic outlining Loan Status with regards to home ownership here: http://lendingclubstatistics.com/analytics/loan-status/home-ownership-vs-loan-status/

The data you see there is 2007-2011 as opposed to the 2012-Present. Please provide any feedback here.  Thanks!

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P2P-Picks / Re: Been completely shut out lately
« on: September 06, 2013, 12:44:24 PM »
When I use Google Analytics to spot activity on my site, I see a tremendous amount of activity just before the picks are released. I hope that this is that people are refreshing the picks page, and not that they are trying to click picks that have a publication time of 4 hours ago. Hopefully people can see the "just now" publication time and then immediately dive into the picks.

In any case, we are working on some automated buying solutions for our users.

I usually login a few minutes early to click "go" on all of the notes that were released previously.  When 'just now' shows up does it overwrite all previous note listings?  Thanks!  I'm anxious to hear more about your auto-invest even though my account value likely doesn't warrant a paid subscription. Plus, I don't mind logging on during the release times and have had no problem getting notes.

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Investors - LC / Re: Why not use an auto-invest service?
« on: August 22, 2013, 11:31:57 AM »
I think one benefit of picking up the "popular" notes is at least they get funded relatively fast, but I guess that doesn't necessarily mean they get issued any faster.  For now, getting highly sought after notes could allow people to flip notes on Folio.  (Currently trying out this strategy) I'll hold off until LC has some sort of auto-invest.  I also don't have nearly enough balance in my account to justify it.  Being in IT, I also don't trust anyone direct access to a financial account. Scary  :o

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P2P-Picks / Server Memory Upgrade to Fix Slow "Go"
« on: August 06, 2013, 02:11:49 PM »
Awesome! This is exactly what I was experiencing. I was still able to pick up a few over the last couple of days. I'd be very curious to know what % of the loans are getting funded solely based off your formula/p2p picks subscribers.

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P2P-Picks / Faster Picks
« on: July 24, 2013, 10:17:30 AM »
I tried to pick up some profit maximizer notes with no luck this morning. Seems like everyone I tried linked to a note that wasn't available. All are showing 0% funded. Thanks!

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Very interesting, I did not know about the 10% restriction. I am very young, financially stable and my expenses are minimal so I feel like I can handle the risk at the moment.  I don't 'need' any of the money in LendingClub and likely won't need to sell any notes to get access to my investment.

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Investing - General (not P2P) / Re: New P2P investment opportunities?
« on: June 26, 2013, 04:21:38 PM »
Here is one for you to chew on: www.groundfloor.us

Basically it is P2P lending for real estate. I signed up for the beta and actually had a chance to do a Q&A with one of the co-founders, Brian Dally.  It looks pretty interesting.

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General P2P Lending Discussion / How much to invest in p2p lending
« on: June 24, 2013, 10:29:50 AM »
Being relatively new to actually investing in LendingClub, I am constantly second guessing how much to invest. I am curious what others do: Do you have a 'magic' % of what gets invested in p2p lending vs. index funds vs retirement accounts etc?  I would imagine some people here are fairly aggressive when it comes to investing in p2p lending.  I currently have less than $1500 invested (and contribute $50 monthly) and before I came very interested in p2p lending my plan was to only invest an amount I would be OK with not having at all.

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Introductions / Re: Welcome to the Lend Academy Forum
« on: June 19, 2013, 02:07:54 PM »
Hi all!  We are relatively new to the p2p Lending industry, but have been reading and learning a lot in the last few months (thanks in part to this blog).   Brian and I have an immense amount of experience in data visualization and plan to incorporate LendingClub data to create some fantastic statistics on our new site. We hope to contribute to the forum here as well as provide some benefit to readers at our own blog www.LendingClubStatistics.com

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