I signed up for Lending Club last year because of an RVF thread on it. Using the "RVF" criteria as I called it, I'm getting great interest returns with no charge-offs yet (knock on cash stacks)! Started with just $500 to test the waters and plan on jumping in big later this year with the profits from selling my home.
So far my interest rate is 17% on the initial $500. The first half of my shares are all Cs, the other 50% are D E F G super high interest because I'm greedy and curious. They did pass my RVF search filter but for some reason got a high interest rate.
Here is the other lending club thread:
thread-15694.html
Also being quick is important if you want to get the best loans, they post at:
6am
10am
2pm
6pm
Pacific time.
How much money do you have in total and how much passive is it generating for you? I thought about using it as a PI source too but not sure if I'd ever have the capital needed for that.
So far my interest rate is 17% on the initial $500. The first half of my shares are all Cs, the other 50% are D E F G super high interest because I'm greedy and curious. They did pass my RVF search filter but for some reason got a high interest rate.
Here is the other lending club thread:
thread-15694.html
Also being quick is important if you want to get the best loans, they post at:
6am
10am
2pm
6pm
Pacific time.
Quote: (04-08-2016 09:31 AM)Buakaw Wrote:
Have used both of them for 3-4 years now and they are one of my best sources for passive income. I have spent a lot of time to create some solid filters and getting around 11-12% return on both of these sites.
Just start investing a small sum first before throwing in some bigger dough and keep each loan amount small. I always do $25 per loan.
How much money do you have in total and how much passive is it generating for you? I thought about using it as a PI source too but not sure if I'd ever have the capital needed for that.