Default Debt Sale Effect on my IRR Calculation (+4.16%)
My IRR calculation makes several simplifying assumptions. The most negative assumption is that all loans one month late are worthless. In the debt sale, I received over 25% of the principal. My expectation is that my IRR will go up…
My August 1st update had an IRR of 0.57% on an account value of $8,049.28 and late loans totalling $511.26.
After 25 days of August (and the debt sale) my account value was $8,039.84 and I had late loans totalling $331.34. Making my IRR 4.73%.
My IRR calculation increased 4.16%.
This easy to calculate IRR is the best indication of your Prosper success. The one caveat is that since the calculation makes simplifying assumptions, you need to track the result over time.
I am waiting until the 1st of the month to post an official update.
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