Anyone invests in Prosper.com ?

[HTSS_TR]

I put $100 to personal loans with Prosper.com about 3 years ago to try out the new investment.

Prosper.com is making personal loans to someone in needed, after about 3 years my initial $100 investment is now about $135 for a 35% return. With current saving rate of less than 1% at most banks, this Prosper.com is not a bad place to start small savings.

As any other investments, read/research carefully before putting any amount of money into it.

 

[JHZR2]

I've about broken even on $500.

 

[tonycarguy]

Honestly, you are the first person who I've ever heard of who made anything on it. Everyone else lost money or was lucky to break even. Most investors give up after 1-2 years due to the number of dead beats there.

 

[HTSS_TR]

I think the idea of Prosper.com is great, pooling money from small investors/savers to make loans to people who can not get a loan from a bank.

I did not know which loan(s) to bid, so I selected the automated plans with grade A or better. The returns are less than 10% but less chance to be defaulted.

Also, I did not know what was the risk factor therefore I put in only $100 to learn. I did not check my account for more than 2 years until 2 days ago. I was surprise to see the 35% return after 3 years.

 

[tonycarguy]

I like the idea of being a lender too. Right now the mortgage market is so tight, thus I wouldn't mind lending to the right mortgagee. I've seen credit-worthy people who have a hard time getting a loan even with >50% down. That seems like a pretty low-risk loan. But Prosper doesn't do collateralized loans

 

[Dan4510]

Originally Posted By: HTSS_TR
I put $100 to personal loans with Prosper.com about 3 years ago to try out the new investment.

Prosper.com is making personal loans to someone in needed, after about 3 years my initial $100 investment is now about $135 for a 35% return. With current saving rate of less than 1% at most banks, this Prosper.com is not a bad place to start small savings.

As any other investments, read/research carefully before putting any amount of money into it.


Not trying to kill your buzz over the gain, but $35 over three years is not 35% gain. its $35/3= #11.67 per year gain.

So the gain is 11.67% a year, which is still many times what any other investment would give.

Dan