Looking to invest in Prosper
| Listing Information | |||
|---|---|---|---|
| Amount: | $3,500.00 | Status: | Loan created |
| Grade: | AA | DTI: | 14% |
| Lender Rate: | 8% | Borrower: | ajmqa62 |
| Finished | State: | GA | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Paid | Origination Date: | 2007-03-28 | EricsCC ROI: | 8% |
| Status History | |
|---|---|
| Mar 27, 2007 | Current |
| Jan 11, 2008 | Payoff in progress |
| Jan 16, 2008 | Paid |
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I am another person who is new to the Prosper.com community and think this is a great opportunity to get a better return on my investment than what the bank is paying. My goal is to borrow $3500, add $3500 of my seed money, and leave $3500 in the savings account set up for my prosper investments. By leveraging with other people's money (OPM), I can get a better return than if I put up only my own. Worse case scenario, I lose all my seed money and the savings account slowly gets drained to pay back the prosper loan. But I plan to make a slightly conservative mix of $50 loans that I expect will return 12+%. If all goes well, I should be banking a positive sum each month. I plan to continue adding up to $150/month to the prosper account and utilize the compounded interest to keep making new investments in prosper. As you can see, I've got a great credit score and intend to keep it that way. In case you are wondering about the revolving credit. $4000 is on a 0% interest furniture loan until 2010, so I'm in no hurry to pay it off.The other $2000 odd dollars is curently at 3.9% on a CitiBank card and should be paid off within 2 months. I used it to pay for our vacation flight. Credit cards offer better protection for travel arrangements than does cash. Any other questions, feel free to ask. |
| Borrower's Other Listings | |||||
|---|---|---|---|---|---|
| 440197 | Buying Foreclosure | AA | $7,000 @ 7% | Dec 31, 2009 | Loan created |
| 534103 | Continuing Education | AA | $7,500 @ 8% | Oct 19, 2011 | Cancelled |
| 537745 | Paying off longer term loan | AA | $9,250 @ 8% | Nov 07, 2011 | Loan created |
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