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Author Topic: Hi, Everybody! Im here to learn  (Read 7482 times)

archyteckie08

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Hi, Everybody! Im here to learn
« on: July 30, 2011, 06:11:10 pm »


Hi everyone,

 Heard a lot about Prosper throughout the years but never really took time to look into it until now. My daughter is looking for loan to buy some business equipment. Weve reviewed traditional loans and SBA but thought why not try Prosper?  Im also interested in becoming a lender some time down the road. Therefore, I joined the prospers forum to see Prosper from an investors prospective and to learn what motivates them.

-CD
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Beerbud1

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Re: Hi, Everybody! Im here to learn
« Reply #1 on: July 30, 2011, 06:22:13 pm »

Greetings and Welcome! Read the Lobby! Prosper loan requests.
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archyteckie08

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Re: Hi, Everybody! Im here to learn
« Reply #2 on: July 30, 2011, 08:01:33 pm »

Thanks for replying to my post. Ill check out the lobby.
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nonattender

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Re: Hi, Everybody! Im here to learn
« Reply #3 on: August 08, 2011, 04:38:45 am »


Hi everyone,

 Heard a lot about Prosper throughout the years but never really took time to look into it until now. My daughter is looking for loan to buy some business equipment. Weve reviewed traditional loans and SBA but thought why not try Prosper?  Im also interested in becoming a lender some time down the road. Therefore, I joined the prospers forum to see Prosper from an investors prospective and to learn what motivates them.

-CD

"Why not?" is as good a motivation as any - and better than some. :)

To answer your question, Ive been around since the beginning, and my take is that everyone has their own motivations, intentions, and
expectations for investing.  They all expect a return, but, in many instances, the definitions of "return" are as idiosyncratic (and diverse)
as the reasons that people request loans.  Some invest purely for monetary gain, some invest for social or affinity reasons (friends, fam,
or supporting people in situations that somehow resonate with them, e.g., successful entrepreneurs investing in budding entrepreneurs),
but, mostly, I think its a blend of both, for pretty much everyone, since P2P is really a new & unique asset class - as, for most investors,
theyve probably never had the opporunity before to invest at such a granular level (into individual people) - on a "case by case" basis...

My old line from 2006, on investing, was:  "Do what you were going to do anyway - and if it works, tell everyone you had a system." :)

Or something to that effect - which I think is broadly what still occurs - as its too early to truly only invest by the numbers OR the heart.

Welcome.

-t

ETA:  I wound up with a net positive return from my early investing - but, heres a note from an investor who had a different outcome...

http://www.prospers.org/forum/new_to_this_site-t23206.0.html
« Last Edit: August 08, 2011, 04:51:08 am by nonattender »
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Nothing that I ever say is "professional advice" - principally, because I suffer from an infinitely inescapable prinicipal/agent problem, in that I am, in principle, always acting as my own agent.

Peer-to-Peer Lending & Personal Loan Information

baldeagle

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Re: Hi, Everybody! Im here to learn
« Reply #4 on: October 26, 2011, 02:35:06 pm »

I no longer invest on Prosper.  My experience and those I know is that people wont pay unless you know them (and that is a maybe when its all said and done).  So, youre best bet is to invite friends and family to invest in you and lend here.  It facilitates payments.  That is all it does.  Or you could use paypal.

loanuniverse

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Re: Hi, Everybody! Im here to learn
« Reply #5 on: January 12, 2012, 10:48:27 am »

I no longer invest on Prosper.  My experience and those I know is that people wont pay unless you know them (and that is a maybe when its all said and done).  So, youre best bet is to invite friends and family to invest in you and lend here.  It facilitates payments.  That is all it does.  Or you could use paypal.


This is not a bad idea as it formalizes what would otherwise be an informal arrangement.

I am also no longer a lender in Prosper, but not so jaded about peer-to-peer. In my opinion most people will pay, but a significant minority are deadbeats.
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"And again, when you have 15 people, and the 15 within a couple of days is going to be down to close to zero, that’s a pretty good job we’ve done."

SGriff

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Re: Hi, Everybody! Im here to learn
« Reply #6 on: February 08, 2012, 05:32:22 am »

I think what everyone learned here the first go-round is that people who really, really need the money will say anything and offer any interest rate, especially if they have no intention of paying back the loan.
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