Comments on: Prosper Mistakes I’ve Made http://www.lazymanandmoney.com/prosper-mistakes-ive-made/ Saving, Earning, and Investing Money Sat, 21 Nov 2009 00:22:17 -0800 http://wordpress.org/?v=2.8.5 hourly 1 By: Revealing the Keys to Prosper Success http://www.lazymanandmoney.com/prosper-mistakes-ive-made/comment-page-1/#comment-146204 Revealing the Keys to Prosper Success Mon, 24 Aug 2009 13:55:38 +0000 http://www.lazymanandmoney.com/prosper-mistakes-ive-made/#comment-146204 [...] posts rebutting the idea that it might not be a good investment. Just yesterday, I discussed the Prosper mistakes I've made. Today, I will share with you what I've learned. Hopefully 5 minutes from now you'll be on your way [...] [...] posts rebutting the idea that it might not be a good investment. Just yesterday, I discussed the Prosper mistakes I've made. Today, I will share with you what I've learned. Hopefully 5 minutes from now you'll be on your way [...]

]]> By: Lazy Man http://www.lazymanandmoney.com/prosper-mistakes-ive-made/comment-page-1/#comment-4932 Lazy Man Fri, 23 Mar 2007 01:22:33 +0000 http://www.lazymanandmoney.com/prosper-mistakes-ive-made/#comment-4932 Excellent point Limeade. I make the assumption that as loans are paid off, lenders are using that money and putting it into new loans. I've got just under 100 active loans under my belt, so I have almost a continuous $25 dollars in transit into my account from payments of those loans. That stream gets loaned out with all the other money as soon as I get a chance. I suppose there's some dead money "risk" in here as well. Excellent point Limeade. I make the assumption that as loans are paid off, lenders are using that money and putting it into new loans. I’ve got just under 100 active loans under my belt, so I have almost a continuous $25 dollars in transit into my account from payments of those loans. That stream gets loaned out with all the other money as soon as I get a chance. I suppose there’s some dead money “risk” in here as well.

]]> By: limeade http://www.lazymanandmoney.com/prosper-mistakes-ive-made/comment-page-1/#comment-4931 limeade Fri, 23 Mar 2007 01:12:12 +0000 http://www.lazymanandmoney.com/prosper-mistakes-ive-made/#comment-4931 I'm looking forward to trying out Prosper.com; but I would like to clear up something about the rate of return people think they're getting. If you lend someone money at 15%, you're not actualy getting that rate on your money. You're doing the same thing that a bank does when it gives someone a mortgage. With every payment you receive, part of it is interest and the other part principle. When you're principle is returned, it's no longer earning interest for you. This may not be new to some of you, but you can't just make a loan for $500 and then wait for 3 years. At the end of the 3 years, you won't have made the 15%. In order to get these outstanding returns, you've got to keep reinvesting the money as it comes back in. By the way, nice site. -limeade I’m looking forward to trying out Prosper.com; but I would like to clear up something about the rate of return people think they’re getting.

If you lend someone money at 15%, you’re not actualy getting that rate on your money. You’re doing the same thing that a bank does when it gives someone a mortgage. With every payment you receive, part of it is interest and the other part principle. When you’re principle is returned, it’s no longer earning interest for you.

This may not be new to some of you, but you can’t just make a loan for $500 and then wait for 3 years. At the end of the 3 years, you won’t have made the 15%. In order to get these outstanding returns, you’ve got to keep reinvesting the money as it comes back in.

By the way, nice site.

-limeade

]]> By: RateLadder.com http://www.lazymanandmoney.com/prosper-mistakes-ive-made/comment-page-1/#comment-4842 RateLadder.com Thu, 22 Mar 2007 14:35:23 +0000 http://www.lazymanandmoney.com/prosper-mistakes-ive-made/#comment-4842 [...] Lazy man gives a frank and honest assessment of his early days lending on Prosper: Prosper Mistakes I’ve Made. [...] [...] Lazy man gives a frank and honest assessment of his early days lending on Prosper: Prosper Mistakes I’ve Made. [...]

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