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Investing in peer to peer lending

Discussion in 'Non-Vegas Chat' started by weluvvegas, Sep 26, 2015.

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  1. weluvvegas

    weluvvegas Vegas Slot Junkie

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    My dad was telling me about this today. Apparently my aunt has done very well financially by being an investor for Lending Club.
    Anyone here do it or have any feedback?
     
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  2. shifter

    shifter Degenerate Gambler

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    Yes I know many people who have.

    You can pick the level of risk you want and the corresponding interest rate you receive.

    You will lose some on non pay, but everybody I know has made pretty good returns.

    I wouldn't do it with your entire retirement or something though.
     
  3. captainron62

    captainron62 VIP Whale

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    Just looked it up, heard a bit on the radio about it last week. Its not available in Ohio at this time. I wanted to give it a shot.
     
  4. leo21

    leo21 VIP Whale

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    Really? Not even through companies like Lending Club or Prosper?
     
  5. captainron62

    captainron62 VIP Whale

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    Those are the two I checked. They both sent an automated reply saying they were working on bringing the business to Ohio and would email when it was available. Unreal, you can go down the street and hock the title to your car or do those silly payday loans or pay 2x or 3x the value of a TV at one of those rental joints but cannot lend your own money!
     
  6. chess

    chess VIP Whale

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    Not available here in Maryland either.....
     
  7. LolaDoggie

    LolaDoggie VIP Whale

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    I like the idea of the ones that have charitable roots. But, I haven't found one available to Canadians yet. If any Canadians in here find one, let me know.
     
  8. LVHooked

    LVHooked High-Roller

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    If you guys would like to try peer to peer investing, I'm looking for people willing to invest in my ERF (early retirement fund)
     
  9. broncofn

    broncofn VIP Whale

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    What about va?
     
  10. Ty

    Ty ?

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    I did Prosper a few years ago. I found it interesting and profitable. At the time Prosper as a company wasn't making a profit, I got concerned about how long they would stay in business and sold all my loans.

    Nowadays I mainly invest my non-retirement funds in dividend stocks.
     
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  11. weluvvegas

    weluvvegas Vegas Slot Junkie

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    We are considering it, my dad is retired and I think he wants to do it just because it will give him something to do. I on the other hand would like to pay off debt. Apparently my aunt has been very successful with it the last few years.
     
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  12. leo21

    leo21 VIP Whale

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    I did get a change to try Kiva. It was fine but you pretty much don't make a profit.

    They did pass laws so that you could crowdfund for profit ala Kickstarter but they haven't developed regulations so that we can actually do it. I would love to that type of thing over loans.
     
  13. LolaDoggie

    LolaDoggie VIP Whale

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    It's true that you don't make much of a profit. But, it's still a nice thing to do. It's literally an investment in people and not just a bandaid. I love reading the success stories. I should take another look into it and see if anything opened up for Canadians. Thanks for the reminder.

    I do Plan Canada where you buy items so they can help themselves. I do that instead of Xmas gifts for the adults in the family. When my nephews get older and understand things better I'll start doing that for them too. Unless I find a charitable lending thing. I think they'd love it.
     
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