Prosper Tips

Here are a few tips for you from what I've learned during my stint lending money on Prosper .com. Using these tips should help you make the most of your lending experience and maximize your profits:

1) Only loan to those borrowers with a C credit rating or better.
2) Only loan to those borrowers with 0 delinquencies in their credit history.
3) Try to fund only those loans that are automatically funded.
4) Aim for a interest rate of at least 20% on each loan.

If you look at this website, Eric's Credit Community, you can see that as of August 23rd, I am #267 of all Prosper lenders, based on my ROI to Risk ratio. So I must be doing something right.

Prosper Part 2

To continue with my last post about Proser. Prosper is now offering a 25$ sign-up bonus for everyone who joins as Borrower or a Lender (I myself am a Lender). So take a look and start earning 8-29% interest on your money! Just click here.

Prosper

I have not talked at all about my Prosper investing in this blog. I look at Prosper as a nice way to diversify my investments, get a high return on my money, and generate some passive cash flow. So far, in the last couple of months, I have invested 805$ in 16 loans at avg interest rate of 23%. I have another 200$ I will be investing next week. So far, all loans are current. My goal is to maintain a 20% interest rate for all loans, and generate a substantial cash flow for myself in the coming months. If you have not heard of Prosper, you can check it out here.