Author Topic: Only 1 listing meeting my criteria today (10/1/13)  (Read 2482 times)

p2pguy

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Only 1 listing meeting my criteria today (10/1/13)
« on: October 01, 2013, 01:52:03 PM »
I am new to P2P & its been just a month now since i started. Though I didnt see the intial phase where there were lot of listings, I could find about 6-7 listings on D & E ratings. Any way I was not expecting more than that. To my surprise, for the 1st time today, I find only 1 listing meeting my criteria, ofcourse I check @ 9am & 5PM regularly, so i dont think i missed those before getting fully funded. I was planning to invest around 5K, but aftr every day investng could reach only $1500 in a month. Now its gonna be even more difficult task. hmm, when Big fish is around,tough time for small fish...

cnmor54

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Re: Only 1 listing meeting my criteria today (10/1/13)
« Reply #1 on: October 01, 2013, 02:10:12 PM »
Hi p2pguy - I've pretty much given up on Prosper. I started investing in mid May. I only have 3k in Prosper and I'm already at 10k in Lending Club.  Higher volume, better loans, and more investor friendly.

p2pguy

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Re: Only 1 listing meeting my criteria today (10/1/13)
« Reply #2 on: October 01, 2013, 02:37:21 PM »
Hello cnmor54

Yeaa, I heard about LC, however its not active in the state where I am in.  :(...However, Proper is allowed & its not the way one would expect. I am really surprised how prosper could be soo small in business compared with LC. LC management can consider itself as monopoly as propser is of no competition whatso ever. I am just praying the LC is allowed in our state... :D

Peter

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Re: Only 1 listing meeting my criteria today (10/1/13)
« Reply #3 on: October 01, 2013, 05:59:26 PM »
I am new to P2P & its been just a month now since i started. Though I didnt see the intial phase where there were lot of listings, I could find about 6-7 listings on D & E ratings. Any way I was not expecting more than that. To my surprise, for the 1st time today, I find only 1 listing meeting my criteria, ofcourse I check @ 9am & 5PM regularly, so i dont think i missed those before getting fully funded. I was planning to invest around 5K, but aftr every day investng could reach only $1500 in a month. Now its gonna be even more difficult task. hmm, when Big fish is around,tough time for small fish...

The high interest loans, such as grades D & E, are snapped up very quickly at Prosper. Rarely will you see any after more than 5 minutes. But if you are quick you can find loans. This morning I invested in three loans - one C and two D - that met my criteria.

My advice to you if you want to put your money to work quicker would be to go down the risk spectrum to B and C grade loans. These still provide good returns and are far more plentiful.
Publisher of the Lend Academy blog

See my returns here: http://www.lendacademy.com/returns

Dennis

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Re: Only 1 listing meeting my criteria today (10/1/13)
« Reply #4 on: October 02, 2013, 02:00:51 AM »

My advice to you if you want to put your money to work quicker would be to go down the risk spectrum to B and C grade loans. These still provide good returns and are far more plentiful.

Hello p2pguy:

Peter is right (as always) in that B and C notes will be a bit easier to find, although not a whole lot easier.  Interest rates are still very decent in those classes.  Also, as you go up the risk ladder to D - HR, you will have many more defaults down the road.  My experience has been that after accounting for those defaults, the D - HR net yields will be about the same as the B & C note yeilds. 

I've had to adapt myself to the new reality of P2P where competition for quality notes with high yields is fierce.  I don't see myself adding new funds in either LC or Prosper until things loosen up a bit as far as note availability goes.  But as Peter has said, things will probably not change a whole lot from how they are now.  It's a matter of adapting, or in your case, accepting this reality if you want to pursue this type of investment.  It's a double edged sword:  it's great that P2P is doing so well, I feel good about the future and that my money is relatively safe here, but at the same time it's so difficult now for investors (large and small) to find enough notes to grow with this.  I still haven't given up yet though and somehow I'm almost keeping up with reinvestment.

Best of luck.......   

p2pguy

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Re: Only 1 listing meeting my criteria today (10/1/13)
« Reply #5 on: October 02, 2013, 02:16:57 PM »
Thanx Peter and Dennis...Appreciate your time....
Quite few funny incidents happen to me....as i mentioned, i find very few listings meeting my criteria..one of the listing (E) i opened it, just quickly glanced below to see the details...then enterd $25, it doesnt go through...then realised in that 4-5 secs, its funded 100%..... :o....