I decided to try it out for myself and a few months ago I transferred $500 to prosper and put it all in an automated high-risk portfolio. So far I am happy to say that I have had no late payments, and my total account value is $513.83 (not to shabby for only 2 months of interest).
So, while two months is a short time I'll remain cautiously optimistic and see how my investment pans out. Check back for updates!
Note: I am not recommending prosper and have no plans to further my investment (see comments). However, for better or worse I've invested some and I will post back with updates.
5 comments:
Care to share your lender ID, so others can follow your portfolio on ericscc.com and lendingstats.com?
I recommend taking it slow on Prosper, and I also advise not putting all your trust in the portfolio plans. Would you be happy if the plan picked out a loan for you with the text: "Need to pay lawyer for upcoming bankruptcy?"
Not trying to burst your bubble, but two months is not long enough for anything to have gone wrong. Six months to a year is when the first lates usually start appearing.
On further investigation I came across this, so maybe prosper isn't so great.
Take it slow and learn what the credit data tells you, not the stories.
Outraged Potato... how is the Prosper investing working out for you?
http://www.ericscc.com/lenders/OutragedPotato
I see you got hit with a few defaults.
Post a Comment