Comments on: Reinvest Automatically With Lending Club http://www.fivecentnickel.com/2009/07/10/reinvest-automatically-with-lending-club/ personal finance tips, tricks, and commentary Tue, 14 Feb 2012 00:06:17 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: LEH http://www.fivecentnickel.com/2009/07/10/reinvest-automatically-with-lending-club/comment-page-1/#comment-205822 LEH Fri, 28 Jan 2011 06:12:36 +0000 http://www.fivecentnickel.com/?p=3455#comment-205822 I don't know about their "basket of loans based on the % you want to earn"... I still would rather pick my own. Unless you go through their basket and make sure it fits your investing criteria...(and not just based on their computer models), my experience is better when I take the time to check out the loans they suggest. I don’t know about their “basket of loans based on the % you want to earn”… I still would rather pick my own.

Unless you go through their basket and make sure it fits your investing criteria…(and not just based on their computer models), my experience is better when I take the time to check out the loans they suggest.

]]> By: Josh http://www.fivecentnickel.com/2009/07/10/reinvest-automatically-with-lending-club/comment-page-1/#comment-136448 Josh Tue, 17 Nov 2009 18:55:52 +0000 http://www.fivecentnickel.com/?p=3455#comment-136448 I actually filled out a spreadsheet that spans 30 years and reinvesting everytime I have a chance to do so. If I put in $100 a month and reinvest I came up with a number of $36000 out of pocket, but my assets after 30 years would be over $600k without taking into account defaults and assuming a return rate of about 12%. Does this sound about right to you? I actually filled out a spreadsheet that spans 30 years and reinvesting everytime I have a chance to do so. If I put in $100 a month and reinvest I came up with a number of $36000 out of pocket, but my assets after 30 years would be over $600k without taking into account defaults and assuming a return rate of about 12%. Does this sound about right to you?

]]> By: Patrick http://www.fivecentnickel.com/2009/07/10/reinvest-automatically-with-lending-club/comment-page-1/#comment-133167 Patrick Tue, 14 Jul 2009 16:25:26 +0000 http://www.fivecentnickel.com/?p=3455#comment-133167 My apologies if I wasn't clear. I've done really well with LC earning about 11% on my investment. I've invested about $400 and continually reinvest the principal and interest earned. I know exactly why I earned very little on those loans but was just making the point that it may not be a 3 year loan. Borrowers can and do pay off early, which I say, good for them. I will continue to find loans that are worth investing in. Keep the borrowers coming! My apologies if I wasn’t clear. I’ve done really well with LC earning about 11% on my investment. I’ve invested about $400 and continually reinvest the principal and interest earned.

I know exactly why I earned very little on those loans but was just making the point that it may not be a 3 year loan. Borrowers can and do pay off early, which I say, good for them. I will continue to find loans that are worth investing in. Keep the borrowers coming!

]]> By: Nickel http://www.fivecentnickel.com/2009/07/10/reinvest-automatically-with-lending-club/comment-page-1/#comment-133161 Nickel Tue, 14 Jul 2009 12:47:29 +0000 http://www.fivecentnickel.com/?p=3455#comment-133161 Patrick: You didn't make much off those loans, but you only loaned the money for a very short period of time. All you have to do to keep things rolling is to reinvest in additional loans. Patrick: You didn’t make much off those loans, but you only loaned the money for a very short period of time. All you have to do to keep things rolling is to reinvest in additional loans.

]]> By: Patrick http://www.fivecentnickel.com/2009/07/10/reinvest-automatically-with-lending-club/comment-page-1/#comment-133159 Patrick Tue, 14 Jul 2009 10:43:54 +0000 http://www.fivecentnickel.com/?p=3455#comment-133159 I actually had two pay off their loans within 3 months of taking them. I made very little of those loans but it was refreshing to be able to help someone who needed it and see that they paid it back quickly. I actually had two pay off their loans within 3 months of taking them. I made very little of those loans but it was refreshing to be able to help someone who needed it and see that they paid it back quickly.

]]> By: Nickel http://www.fivecentnickel.com/2009/07/10/reinvest-automatically-with-lending-club/comment-page-1/#comment-133097 Nickel Fri, 10 Jul 2009 18:36:55 +0000 http://www.fivecentnickel.com/?p=3455#comment-133097 Bradley: The loans are sold as 3 year notes, so you'll get your full principal plus interest back in 3 years unless you reinvest (assuming no defaults). Bradley: The loans are sold as 3 year notes, so you’ll get your full principal plus interest back in 3 years unless you reinvest (assuming no defaults).

]]> By: Bradley Jones http://www.fivecentnickel.com/2009/07/10/reinvest-automatically-with-lending-club/comment-page-1/#comment-133095 Bradley Jones Fri, 10 Jul 2009 17:01:56 +0000 http://www.fivecentnickel.com/?p=3455#comment-133095 At that rate how long is it going to take you to get your initial investment back and be in profit? At that rate how long is it going to take you to get your initial investment back and be in profit?

]]>