Comments on: How to Invest in Multiple P2P Lending Accounts /investing-lending/how-to-invest-in-multiple-p2p-lending-accounts/ Your guide to peer to peer lending Sun, 12 Feb 2012 01:01:24 +0000 hourly 1 http://wordpress.org/?v=3.2 By: Peter Renton /investing-lending/how-to-invest-in-multiple-p2p-lending-accounts/comment-page-1/#comment-4050 Peter Renton Thu, 09 Feb 2012 09:26:51 +0000 /&p=3990#comment-4050 @Dan, I do no checking against the PRIME account mainly because it is investing primarily in B and C grade notes. For the 21% of the portfolio that is invested in D and E grade notes I just put up with the inevitable duplication there. But it is only a very small percentage of my overall LC portfolio. @Dan, I do no checking against the PRIME account mainly because it is investing primarily in B and C grade notes. For the 21% of the portfolio that is invested in D and E grade notes I just put up with the inevitable duplication there. But it is only a very small percentage of my overall LC portfolio.

]]>
By: Dan B /investing-lending/how-to-invest-in-multiple-p2p-lending-accounts/comment-page-1/#comment-4049 Dan B Thu, 09 Feb 2012 07:05:44 +0000 /&p=3990#comment-4049 So how do you prevent duplication between the 1900+ LC notes you manage & the 750+ LC notes that LC Prime manages again? On an ongoing basis, I mean? So how do you prevent duplication between the 1900+ LC notes you manage & the 750+ LC notes that LC Prime manages again? On an ongoing basis, I mean?

]]>
By: Peter Renton /investing-lending/how-to-invest-in-multiple-p2p-lending-accounts/comment-page-1/#comment-4047 Peter Renton Thu, 09 Feb 2012 05:08:54 +0000 /&p=3990#comment-4047 @Mike/@Dan, I am fully aware of the risks involved with both Lending Club and Prosper and as I have said many times before I believe I am being well compensated for that risk. As for the separate email accounts, you don't need one if you want to take out a loan on Prosper but it looks like you do need a separate email to open up their IRA product. I will look into that some more when I open my own IRA. @JRV, I am reasonably happy with my own PRIME account. As I wrote last month in my accounts snapshot post (/snapshot) I am getting close to 8% real return on my wife's PRIME Roth IRA. That is not a bad result considering no effort is required to generate that return. But I do believe the astute investor can do better than that - but you need to be prepared to put in some work. I have written several posts about my PRIME account that you can read here: /tag/prime/. @Mike/@Dan, I am fully aware of the risks involved with both Lending Club and Prosper and as I have said many times before I believe I am being well compensated for that risk.

As for the separate email accounts, you don’t need one if you want to take out a loan on Prosper but it looks like you do need a separate email to open up their IRA product. I will look into that some more when I open my own IRA.

@JRV, I am reasonably happy with my own PRIME account. As I wrote last month in my accounts snapshot post (/snapshot) I am getting close to 8% real return on my wife’s PRIME Roth IRA. That is not a bad result considering no effort is required to generate that return. But I do believe the astute investor can do better than that – but you need to be prepared to put in some work. I have written several posts about my PRIME account that you can read here: /tag/prime/.

]]>
By: JRV /investing-lending/how-to-invest-in-multiple-p2p-lending-accounts/comment-page-1/#comment-4045 JRV Thu, 09 Feb 2012 01:49:58 +0000 /&p=3990#comment-4045 Peter, how has the L.C. Prime Account has worked out for you? This may be a bit off topic from the source article, but I'm curious if LC does a good job managing larger accounts. I'm thinking about turning my IRA into a Prime account, but feedback and information on the Prime Accounts is pretty sparse. Thanks, JRV Peter, how has the L.C. Prime Account has worked out for you? This may be a bit off topic from the source article, but I’m curious if LC does a good job managing larger accounts. I’m thinking about turning my IRA into a Prime account, but feedback and information on the Prime Accounts is pretty sparse.
Thanks,
JRV

]]>
By: Dan B /investing-lending/how-to-invest-in-multiple-p2p-lending-accounts/comment-page-1/#comment-4044 Dan B Wed, 08 Feb 2012 23:07:57 +0000 /&p=3990#comment-4044 I admire Peter's courage too. It's the wisdom part that I'm not 100% sure about. :) As for the sign in issue at Lending Club, we are on it. I admire Peter’s courage too. It’s the wisdom part that I’m not 100% sure about. :)

As for the sign in issue at Lending Club, we are on it.

]]>
By: Mike /investing-lending/how-to-invest-in-multiple-p2p-lending-accounts/comment-page-1/#comment-4043 Mike Wed, 08 Feb 2012 22:50:25 +0000 /&p=3990#comment-4043 Peter, I admire your courage. Does Proper require separate email addresses for different accounts? Peter, I admire your courage. Does Proper require separate email addresses for different accounts?

]]>
By: Peter Renton /investing-lending/how-to-invest-in-multiple-p2p-lending-accounts/comment-page-1/#comment-4042 Peter Renton Wed, 08 Feb 2012 22:45:56 +0000 /&p=3990#comment-4042 @Dan, I have about 1,900 notes in the three accounts I manage at LC and another 750 or so in my PRIME IRA that Lending Club manages. I am putting another $100K into p2p lending but the lion's share of this will go to Prosper (because my LC investments are already close to $100K). My plan is to have slightly more than $100K invested in each company by the end of the year. @Mike, I have been told that Lending Club is working on removing the unique email address requirement for each separate account (which, let's face it, is a completely ridiculous requirement) but I don't know if that is going to mean true linked accounts like one can have at an online brokerage. I somehow doubt that will happen this year, but it has to happen eventually if p2p lending is to be treated as a serious asset class. @Dan, I have about 1,900 notes in the three accounts I manage at LC and another 750 or so in my PRIME IRA that Lending Club manages. I am putting another $100K into p2p lending but the lion’s share of this will go to Prosper (because my LC investments are already close to $100K). My plan is to have slightly more than $100K invested in each company by the end of the year.

@Mike, I have been told that Lending Club is working on removing the unique email address requirement for each separate account (which, let’s face it, is a completely ridiculous requirement) but I don’t know if that is going to mean true linked accounts like one can have at an online brokerage. I somehow doubt that will happen this year, but it has to happen eventually if p2p lending is to be treated as a serious asset class.

]]>
By: Mike /investing-lending/how-to-invest-in-multiple-p2p-lending-accounts/comment-page-1/#comment-4040 Mike Wed, 08 Feb 2012 22:12:18 +0000 /&p=3990#comment-4040 Thanks Dan. Yes, linked accounts means that you can view them all under one sign in. All online brokerages have this ability, so you can monitor your entire portfolio without having to log in and out over several accounts. I was told that this was under consideration a while back. I hope your rumor has more merit. Thanks Dan. Yes, linked accounts means that you can view them all under one sign in. All online brokerages have this ability, so you can monitor your entire portfolio without having to log in and out over several accounts. I was told that this was under consideration a while back. I hope your rumor has more merit.

]]>
By: Dan B /investing-lending/how-to-invest-in-multiple-p2p-lending-accounts/comment-page-1/#comment-4039 Dan B Wed, 08 Feb 2012 21:53:16 +0000 /&p=3990#comment-4039 Mike...........Rumor has it that Lending Club is working on enabling the accessing of multiple accounts through one account sign in (i.e. one email address), though I'm not sure if that's what you mean by "linked". Mike………..Rumor has it that Lending Club is working on enabling the accessing of multiple accounts through one account sign in (i.e. one email address), though I’m not sure if that’s what you mean by “linked”.

]]>
By: Mike /investing-lending/how-to-invest-in-multiple-p2p-lending-accounts/comment-page-1/#comment-4038 Mike Wed, 08 Feb 2012 21:39:11 +0000 /&p=3990#comment-4038 One of my pet peeves regarding LC is the inability to link accounts. I just have two accounts, one regular and one IRA, but I can't imagine keeping track of 6 separate accounts like you, Peter, without linkage. I tend to invest my funds daily or every other day, and I do both accounts back to back, so I can remember who I've invested in and avoid those loans in the other account. I don't think it is that technically difficult to provide links between accounts, but for whatever reason, LC hasn't chosen to provide that option yet. One of my pet peeves regarding LC is the inability to link accounts. I just have two accounts, one regular and one IRA, but I can’t imagine keeping track of 6 separate accounts like you, Peter, without linkage. I tend to invest my funds daily or every other day, and I do both accounts back to back, so I can remember who I’ve invested in and avoid those loans in the other account. I don’t think it is that technically difficult to provide links between accounts, but for whatever reason, LC hasn’t chosen to provide that option yet.

]]>