Welcome everyone to the Social Lending Network Forum

[prestiamoci]

Hi to everyone

My name is Mariano and I'm the CEO and Founder of the first Italian P2P lending marketplace. I'm used to read about P2P on P2P Lending News Updates  and I'm happy to learn and partecipate to this forum

 

[Peter]

Welcome Mark and Mariano, thanks for joining us. Feel free to chime in with any questions or comments.

[graceful]

I've been a Prosper Investor since 2010.

After a year of dipping my toe in with unbelievable results, I dumped serious money in, and invested in all the wrong things as if I could do no wrong. After trashing my ROI, I went looking for help.

I found Prospers.org (OMG, flame war central), then Lendstats (defunct analysis for Prosper lenders, still running stats for LC), helped set up a new forum when lendstats forum went down http://p2plending.forumatic.com, and now also use Prosper-stats http://prosper-stats.appspot.com/TopLenders.jsp for loan selection support. Glad to see a new forum here too!

I have three accounts with a variety of objectives, but all focused on making solid returns.

Graceful

[Peter]

Welcome Graceful, I often read your posts over on the P2P Lending Forumatic forum. I am glad you decided to join us here as well.

[meggie01]

Hello I'm Meggie and I've been investing at both Prosper and Lending Club for a few months. Happy to join a community of users for both sites, since most people I've tried to discuss it with think that it's an insane concept. I'm really encouraged so far, and having fun running numbers and playing with the different stats.

[Peter]

Welcome. When I started I knew no one and several people thought I was crazy, too. But p2p lending is slowly becoming more mainstream and the returns continue to be good for investors.

[jimelliot]

Hello everyone -

I started social lending this summer with Prosper.com, and also launched a blog at www.prosper-review.com as a resource for others who are interested in my personal experiences and results in the process.  I've invested about $500 and I'd say I'm still testing the waters a bit, but so far I think it's going pretty well.

-Jim Elliot

[lender_john]

Hello everyone

My name is.. lets say its John.

I have been investing with LC since May 2011 and unfortunately I live in one of those states that doesn't allow direct investing and I have been stuck with using the unfortunate FolioFN platform.

[Peter]

Welcome Jim. Glad you are joining in the conversation. I have subscribed to your blog and look forward to reading your updates.

[New Jersey Guy]

Hi Everybody!  My name is Roy.  I'm a 53-year old guy living here in New Jersey.  Not only am I an investor, but I also have a 36 month loan out with LC since Feb. 2011.  That's how I got interested in the investing aspect. 

Living in New Jersey I have to use the Folio platform.  That's Okay because I'm not interested in funding new notes.  My investment style is highly aggressive and speculative.  My portfolio currently consists of about 25% quality A and B notes and 75% speculation.  I'm not in this for a 10% to 12% return, but curious to see if I can't push the 30% and even 40% mark.  With that in mind, the money I have invested is strictly "Fun" money.  I enjoy the higher returns, but the pursuit of those returns is what I enjoy the most.  Unlike my mutual funds (which is like watching grass grow), I work and monitor my LC account daily. 

[Peter]

Welcome Roy. So I take it you are trying to be an active Folio investor and holding notes for a short duration. If that is the case you should read Lending Club Experience - he had the same strategy:
http://lcp2p.blogspot.com/

Good luck.

[JerryB]

Hello all!
  My name is Jerry and I recently set up a Lending Club account with my brother Ron. We've put a small amount of money away together each month for going on 8yrs now. Eventually we plan to use this money as our own personal bank (to buy cars, houses, rental properties..ect.ect) and we do to some extent already. This money has been accumulating for years and although my brother and I both invest in the stockmarket we could never seem to agree on what to invest our "Brother Account" in. Until I found "Lend Academy", once I read Peter's book "The Lending Club Story" and I read through the website It took me all of five minutes to convince my brother this was what we had been looking for.
So I'd like to send a big thanks out to Peter for having the passion and drive for P2P Lending to set all this up!! Without this information it would have taken me many months to do due diligence on Lending Club. So as of 3 weeks ago my brother and I made our first deposit of 10K into P2P lending we each manage 1500 of that and let the system pick loans for the remaining 7k. If everything goes as expected and we reach our return goals we plan to invest much more in Lending Club. I look forward to continuing learning and growing in the P2P community and again can't thank you enough Peter!!

[Peter]

Welcome Jerry. I am glad you have found this site useful - it has been developed with people like you in mind. Look forward to your contributions here.

[jwilliams]

Hey everyone, Justin here from Santa Barbara, CA. I recently got into p2p lending to try to make a few $ like everyone else. Thank you Peter for all of the great information, it has been really helpful. I have a unique situation right now and am available to anyone interested for either information or for an investment. I currently own two properties in Santa Barbara, CA that I am trying to refinance but can't due to the LTV not matching what the bank wants. Both properties have adjustable loans on them and I need to refi into fixed loans before rates go up. It has been stressful due to the market crash but I live in a high $ area with high rents. I am currently looking for a personal loan so that I can give the money directly to the bank which would bring my LTV in line and allow me to refi. The conundrum I now face is that the interest rates on the adjustable loans are 3%. Super cheap money for sure but it will go up in the future....tick,tock. I have been trying to make money on money on money to get the #'s where I need them for the refi. I am a 13+ year firefighter in Santa Barbara with a credit score of 815 and no debt other than the house loans. I have never been late on any payment ever to anyone and am super trustworthy. I decided to put this info up here because I have read a few posts with people speculating on others situations with high credit scores( go get a loan at a credit union, I must not be financially savvy, etc.) the problem is the rates offered. I am looking for a personal loan but I am also an AA borrower if I get a loan through LC or Prosper so if anyone just wants to pick my brain on high credit score borrowers and their situation feel free. And by the way, I am pretty financially savvy and willing to help anyone out with advice on 401k fees, borrowing, risk mitigation, etc. and still looking for that loan so I don't have to play the game of which car is going to win the race first, my refinance or rising rates. Thanks everyone for your consideration and I am looking forward to having some meaningful discussions with all of you.

[True]

Hello everyone.
Thank you for this forum, Peter.
There is a big need of accurate information on this topic.
I'll do my best to contribute.