This site is quickly becoming the “can I get paid fairly” and the “Prosper” blog. I didn’t intend for it to be this way, but those are the dominating financial focuses in my life right now.
I did a little research in Prosper and there’s a great chart at Savage Number. It will help you determine your odds of success for each loan you place. By the chart, the 18+% I’m getting from the grade C borrows is looking pretty good.
I wonder if it will scale as I raise the amount that I’m lending. I’m betting it will with the low amounts I’m putting in. I will probably set up a monthly savings plan to have a ladder of money being lended. That will allow me to have access to some of the cash as I need it.
I will continue to update you on my Prosper progress. There’s a lot more coming outside of what I’ve been focusing on for the last couple of weeks — a lot more.