Jan
14
Prosper – More Prosperity for 2008
January 14, 2008 | 2 Comments
Ironically, Prosper.com is the only one of my portfolios showing all nice and green. Better than I expected, it shows all loans either current or paid (1 paid). So far, I have issued 31 small/shared loans, one of them has been paid off. The initial principal was $3,000 (small amount, but significant enough to try). I am increasing the principal amount $2,000 more. Short term goal is to have around 50 loans or around $100 each. I started my Prosper Adventure on September 2007.
So far my average interest rate received is 12.63% – a bit of a deceiving number, as I know that sooner or latter someone will default in their loans. All of my loans are for people with no delinquencies or public records to show on their credit report. One of them was an experimental “C” grade credit, but the rest are “AA”, “A”, or “B” levels, and I intend to keep them on the “B” and above level for the next 20 loans or so.
To me, this is an ironic reminder that there is always a place to invest your money… and of the power of diversification. Let the prosperity continue being green!
BTW, there is an open invitation for new lenders in Prosper. Prosper will give $25 to the new lender and $25 to the existing lender (me, if I send the invitation). If you have considered lending money in Prosper.com let me know (a comment or e-mail)… we could both benefit.
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