Thursday, March 31, 2011
Monday, February 28, 2011
End of Month for February 2011
Stats for Feb 1st - Feb 28th 2011
Beginning of Month (BoM) End of Month (EoM)
Interest earned: $92.19
Balance BoM $5056.31
Balance EoM $5341.03
Average interest rate BoM 29.70%
Average interest rate EoM 29.50%
100 $ deposited into account.
Total notes changed from 154 to 161 for + 7 notes.
Current notes went from 148 to 156 for +8 increase.
Notes late 1-30 days went from 5 to 3 for -2 decrease.
Notes late 31+ days went from 1 to 2 for a +1 increase
No notes were charged off during February total remains at 14.
3 notes were paid off during February total is increased to 26.
In Summary, this month was great and the investing is fun. I have continued to keep my automatic deposits of $50 twice a month active as it continues to grow. February is only a 28 day month and the Prosper account does not get updated until Monday night. So in reality this is only for about 25 days performance. I continue to expect about 100 $ a month in interest which is considerably more than what a bank account would be paying out. Risk vs Reward obviously a factor. Thanks for looking.
Thursday, February 10, 2011
Monday, February 7, 2011
Tuesday, February 1, 2011
P2P
When I first started micro lending in March of 2008, I was rather skeptical so I only deposited $500 dollars. One of my first loans of 50 dollars was never even paid back. That left me immediately with a loss. I hung on to my loans and the other 9 all started paying. Since then I have had over 200 loans and that was the only loan that didn't pay any back. I learned my lesson and reviewed all my new borrowers carefully.
My goal was not to keep my money in a bank account that was FDIC insured and earn 1%-4% interest. My goal was to take risk D, E, and High Risk loans with the potential to earn 34%. That is exactly what it has become. An interest earning account.
My goal was not to keep my money in a bank account that was FDIC insured and earn 1%-4% interest. My goal was to take risk D, E, and High Risk loans with the potential to earn 34%. That is exactly what it has become. An interest earning account.
Peer to Peer lending
It all started for me back in March of 2008. I in no way work for http://www.prosper.com/ or any other peer to peer lending group. In fact I work at a traditional bank. However, I need to see proof and maybe a few of you out there do to. So in this blog I intend to show my account balance sheet and share my experiences both good or bad.
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