Author Topic: Selling My Prosper Notes  (Read 5800 times)

thezfunk

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Selling My Prosper Notes
« on: January 11, 2016, 11:59:48 AM »
Hi Guys,

All of my Prosper notes are up for sale on Folio.  There are too many to list here but I started at +5% and will discount by 1% each day until they are gone.  I don't do auctions so they are all fixed price. 

My 'new' house is going to require me to raise some cash to finish renovations and since this is a taxable account, it will be redirected to flooring, plumbing, electrical, and drywall needs.  Since this asset class is best served in a retirement account, I don't know if I will be back on Prosper since I hear horror stories about their IRAs. 

Rob L

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Re: Selling My Prosper Notes
« Reply #1 on: January 11, 2016, 02:03:29 PM »
... I don't know if I will be back on Prosper since I hear horror stories about their IRAs.
I have a Prosper IRA account. No problems yet so what should I know that I don't?

thezfunk

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Re: Selling My Prosper Notes
« Reply #2 on: January 11, 2016, 03:19:45 PM »
I heard on here that people were having issued depositing money and that even though they have the minimums to avoid fees, they were still getting charged fees and the customer service of the IRA servicer was bad.

Rob L

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Re: Selling My Prosper Notes
« Reply #3 on: January 11, 2016, 04:11:51 PM »
Only made one deposit to set up the account and have made no withdrawals.
No fees (yet)...
Thanks for the heads up.

thezfunk

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Re: Selling My Prosper Notes
« Reply #4 on: January 14, 2016, 10:08:44 AM »
I noticed something while selling my holdings.  I forgot to turn off LendingRobot auto invest for Prosper so it bought a bunch of new notes as I was trying to sell.  They all happened to be HR notes.  I thought I was screwed because who wants to buy brand new notes except at a discount.  Surprising to me is that all my brand new HR notes are selling so far at +2% to +5% premium.  I just thought I would share if anyone is interested in making some quick turn around on HR notes.  Maybe the ones LendingRobot gets for me are that good.  I don't know if all HR notes will sell like that.