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MERRY CHRISTMAS! ALL
joefoolz:
Hi all, i'm relatively new to prosper. I've been avg 30 bux a month into prosper for all of 2010. Any advice for a new lender?
Beerbud1:
Yes! Take a break.
Urbi_et_Orbi:
Welcome to Org. Beerbud is right. Let your loans sit and soak for a bit - and see how your loan-picking skills hold up over time, before you get too excited about your projected returns.
Also, we're going to assume that you have read (and generally understand) the risk-disclosures in Prosper's prospectus.
joefoolz:
Yes, my first loan was back in june 08. Majority of notes are 25$ increments. I let it soak for 2yrs. Still current. So when the quiet period ended , I started to buy more notes.
My foray into prosper was due to curiosity.
As I have read the discussions in this forum, there are apparently plenty of negative issues that people have expressed.
I try to see both sides of the coin.
My views coming into prosper expecting 100% loss. I made sure to pick all my applicants with low scores. Predominantly HR's in the 30% rates.
So far, I have 20 notes that are current, 2 paid, and 2 that are late.
Since Urbi and beerbud are saying to curb my enthusiasm, I'll just do the minimum $25min /month and reinvest the payments.
As a whole, I'm delighted that people actually paid.
What are your thoughts? How long should I continue doing this before I ramp up the amount? 2nd yr $100/month 3rd yr $200/month?
Urbi_et_Orbi:
--- Quote from: joefoolz on December 25, 2010, 07:28:13 pm ---
My views coming into prosper expecting 100% loss. I made sure to pick all my applicants with low scores. Predominantly HR's in the 30% rates.
So far, I have 20 notes that are current, 2 paid, and 2 that are late.
--- End quote ---
You know, with that type of expectation, Beerbud and I could save you a lot of time by allowing you to simply mail us checks every month. ;D
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