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Highest Echelon

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

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.

-Wilks

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posted by johnwilkx, 8:56 AM

1 Comments:

First congratulate to you to keep the pace of your work of lending the loans. And Thanks to provide such a useful idea of providing loans to earn business.
commented by Anonymous Anonymous, Sat Jun 02, 05:20:00 AM 2007  

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