Anyone scaled their lendingclub investments?
- Thread starter Spades
- Start date
With Lendingclub in particular you can start with $250. Their tool will also offer to build out a portfolio for you. Ultimately these guys know their numbers better than we ever will so I just go with it.
I guess it's similar to the stock market in the sense that if you can simply grow with the market you are winning. Lendingclub's default rates across the platform are low enough and interest rates high enough to make great returns if you have a large enough spread. This is at least my take from everything and the great advice above.
Have no clue if or when I'll sign up, but send me your referral link (or just post it here) and I'll use it when the time comes.
Aren't there some P2P loan programs that allow you to sell the loan to others to get liquid again?
How could I sign up while being in a state that doesn't allow P2P lending (ohio).
How could I sign up while being in a state that doesn't allow P2P lending (ohio).
Lendingclub has a trading platform for their notes. They charge 1% and according to their stats it takes an average of 3 days to get liquid.
https://www.lendingclub.com/public/mainAboutTrading.action
Sorry, not sure on the state situation.
PM me your ref link as well.
EDIT
so many people are asking for it that it would probably be smart to just post it here. I doubt the mods will care, because we obviously want it.
Funny how I know guys with 5 figures into it who have converted their entire retirements (401ks and IRAs) to LC and prosper and are doing insanely well and are very profitable.
Signup under me. I can help, but not going to hold hands. $300 bonus too.
https://www.lendingclub.com/landing/invest.action?reg_referrer=Member_596999&progId=2007
https://www.lendingclub.com/landing/invest.action?reg_referrer=Member_596999&progId=2007
Deposit $30k using my credit card with 1.5% cashback.
Invest $30,450 into LendingClub
Make 10% annualized return and have $33,495 the next year.
Withdraw the money with a 1% commission and receive $33,160
Where is the lack of profit?
(and of course multiply $30k by whatever amount you want to deposit)
Good call, here's mine to.
Bonus: If you have a rewards credit card fund your account using that. You keep your money and get your 1% reward or whatever back (that essentially wipes out your lendingclub fees of 0.7%)
EDIT:
$2500 Minimum $100 bonus - https://www.lendingclub.com/landing/invest.action?reg_referrer=Member_1397496&progId=2002
$5000 Minimum $200 bonus - https://www.lendingclub.com/landing/invest.action?reg_referrer=Member_1397496&progId=2006
$10000 Minimum $300 bonus - https://www.lendingclub.com/landing/invest.action?reg_referrer=Member_1397496&progId=2007
Bonus: If you have a rewards credit card fund your account using that. You keep your money and get your 1% reward or whatever back (that essentially wipes out your lendingclub fees of 0.7%)
EDIT:
$2500 Minimum $100 bonus - https://www.lendingclub.com/landing/invest.action?reg_referrer=Member_1397496&progId=2002
$5000 Minimum $200 bonus - https://www.lendingclub.com/landing/invest.action?reg_referrer=Member_1397496&progId=2006
$10000 Minimum $300 bonus - https://www.lendingclub.com/landing/invest.action?reg_referrer=Member_1397496&progId=2007
Do I get anything for less than $10k? Can't find it on the page. Was just gonna put 2-3k in and start small. Do want to sign up under you though because it was your post in another thread that initially got me interested.
Yea on my link above the minimum is $2500. Might just be a different offer, use whichever one you want.
I'm surprised they let you deposit via credit card. Wouldn't the fees destroy their profit if they only get 1% or whatever.
Awesome thread! Greatly intrigued in this type of investment, sadly I am in Ohio which is restricted from P2P, any type of work around so I could do this? Seems like an amazing opportunity.