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Highest Echelon

A personal finance blog. Paying for my University, life and eventually achieving financial freedom.

Prosper.com: I'm the 20th best!

Thursday, June 07, 2007

For the longest time I was trapped in between 40th and 50th place in terms of Return On Investment at Prosper.com. This morning my rank jumped up to 20th place out of 18,224! (Yes, some lenders even have a negative ROI.)

I currently have an awesome Return on Investment of 21.96%. I can thank the loan that I closed at 28% with a B credit rating.

While I'm having a great deal of luck and fun at Prosper, it's important to remember that I could loose everything if A) Prosper goes under (the money is not FDIC insured) or B) if everyone decides to stop making payments (I have yet to have anyone miss a payment for more than 15 days).

Good luck and happy bidding. (Remember it only takes $50 to bid.)



posted by johnwilkx, 12:00 PM | link | 3 comments |

Zecco.com. New $0 minimum to open account.

Wednesday, June 06, 2007

I just checked the Zecco.com website and it seems they've dropped the minimum opening amount for accounts from $2500 to $0.

(from their FAQ)

What is the minimum amount required to open an account?
Zip, nada: there's no minimum deposit required to open an account. Margin accounts require $2,000 minimum.


posted by johnwilkx, 12:27 PM | link | 0 comments |

Prosper.com. I'm #8427!

Friday, June 01, 2007

I just checked my Prosper.com stats on Eric's Credit Community. I've made it to Lender Rank #8427!

With an estimated 21.31% ROI, I'm also showing up as being the 44th best member in terms of Return on Investment.

Absolutely all my loans are current and I haven't had any "less than 15 days late" in months.

I'm at a point where Prosper.com is getting more and more fun every day! My original goal was to fund 25 loans with $50 each for a total of $1250 (I would then receive roughly $50 every month in payments which would then be used to fund more loans, it's a $50 minimum per loan).

My new goal is to loan out $5000! I would then be receiving roughly $200 in payments per month and would turn right around and reinvest that into 4 new loans. I've also decided to take full advantage of the standing order feature to automate the whole process. I find that standing orders can sift through borrowers more quickly and efficiently than I can. Also I then don't have to worry about being an emotional investor. I'm sometimes compelled to bid on loans where borrowers are unemployed and may lose their houses due to foreclosures and don't have a prayer of being able to pay back the loan. My standing orders pass right over those.

Happy bidding.



posted by johnwilkx, 8:56 AM | link | 2 comments |

New free samples at Walmart.com

Check out the new free samples at the Walmart site. Out of all the free samples sites that I use, Walmart.com is probably the best. No annoying follow up questions and I can register for an item in under a minute. It does take a while to ship, so I usually forget what I ordered. But that just makes it an even better surprise when it finally arrives.



posted by johnwilkx, 8:50 AM | link | 0 comments |