RateLadder Reaches 10K Milestone | P2P Lending, Peer to Peer Lending, People to People Lending

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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