Near the end of last week my Prosper account value crossed the 10K milestone. This is an important milestone as well as signaling a change in funding patterns.
Why is it important? With my bid laddering strategy the most I will ever put into a single loan is $200 (4 $50 bids at various interest rates). As a general diversification strategy I don’t like have more than 2% of my portfolio in a single loan. 2% of 10K = $200.
Why does it single a change in funding patterns? 10K is a little over 5% of my investment portfolio. I find it hard to justify any larger portion than 5% until such times as the returns are proven. So, while I will continue to reinvest loan proceeds and add all advertising and donation revenue from RateLadder, ProProsper, and P2P No Bank; I will no longer be adding any additional personal funds.
I feel that following my own journey on Prosper as RateLadder has added and will continue to add to the general knowledge of p2p lending. I am always open to communication (send me an email, leave a comment, etc). I hope that you are enjoying it as much as I am.
Even without any additional funds I should be able to make $350+ a month in loans. (a 10K loan at 18% with a 3 year term creates a $362 monthly payment.)
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Congrats on the milestone.
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