Requesting Advice on P2P Lending
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Update 12/3/2007: Advice for new P2P Lenders has now been posted.
If my account is funded this week, I hope to lend money for the first time using a P2P lending service by Friday. Since I will be selecting my first loans, I am requesting some advice based on readers’ P2P lending experiences. I am planning to combine that advice into a single post for newbie P2P lenders. I would prefer short answers so just a few sentences is fine and it should not take very long to write. If you have a blog, I will include at least one link back to your blog in the advice post.
I will compile the post on Thursday night this week, so please respond before Thursday about 7PM central time if you would like your answers included. I can always update the final post with your advice later if you do not have time before Thursday evening. You can respond as a comment to this post or use the contact form. I appreciate your time and advice.
What do you know now that you wish you knew before you started P2P lending?
Do you use Prosper and/or Lending Club and why?
If you have a blog, what one post on your blog should someone read before investing in P2P lending and why?
What is your favorite P2P lending resource for information? (not including your own blog)
Added: Has your overall plan been through changes since you started P2P lending? If so, how and why?
Any other advice you would like to include?
Thank you!
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I wrote a post for just this sort of advice….
http://www.rateladder.com/2007/06/07/what-kinds-of-prosper-loans-should-a-newbie-lender-invest/
It is geared towards proser, but it works for LC as well… Also to start with I would stick to 0 current dq and 0-1 inquiries in the last 6 months…
My 2 cents!
I would also say another key question (of which I could think of several more, but this one I’m interested in) would be… Has your overall plan been through changes since you started P2P lending? If so, how and why?
[…] not had time to compile all the great advice that I have received so far based on my request for P2P lending advice. Plus, my funds still have not arrived to Lending Club so I have not been able to bid on any loans. […]
[…] Loan Portfolio RSS feed or take a look at the site map. Thank you for visiting!Based upon my recent request, I received some useful advice from several P2P lending bloggers that I was grateful to receive […]