All Forum Posts by: Pradeepan V.

I highly recommend that you check out Peter Renton's website before you jump whole hog into Lending Club.

Interesting. I will check it out

He is no slouch, and is making low single digits on Lending Club.  Do you really think that you can do better than Peter with his extensive experience and resources?

Oh wowok. Thanks for the resource. I will go through the same. 

You are better off buying 20-year treasuries.  Seriously.

@Pradeepan V.,

Thank you Dmitriy. You are a rock star

I did invest small amount with Lending Club, but in my personal opinion returns are low, and it is not liquid. I prefer private lending, gives you much greater return. 

Can you give more information on this private lending? 

1. Is there any market place where I can lend private money( is it like hard money lender?).  Any suggestions?

2. How are the returns? 

3. How is this liquid compared to lending club? I assume they still have to pay back monthly( but guess you mean its short term 6-12 months for flips etc as compared to lending club which is 36-60 months? 

4. Risks and considerations? 

this is excellent Dan. Thank you. You are right. I got confused. Makes sense. Very clear now. 

 This is awesome Dan. I wasn’t sure how brokerage account also kind of acts as a bank account too. I am surprised that they don’t charge any fees too ( guess it’s bcoz the transfer is initiated from prosper and not Ameritrade?). This option really work for me and I would be more than happy to transfer $18k to the brokerage account if this is possible. Lending club also allows for ACH initiated from their side so which is cool. I have had success so far with lending club( for my personal account) for the past 1 yr been getting 16%+ returns and touch wood hope it continues. Hence getting greedy to put my 401k investment also in there plus want to try out lending club’s secondary market( where people want to sell their notes)

So does ameritrade give out routing and account number for this purpose? 🧐

I am thinking of going with etrade as I heard they do 401k loans and does Roth conversions too which is not possible in others or possibly Charles schwab... 

Thank you Michael. I think you didn’t understand my question. Anyways I learnt something from your reply though it’s not relevant to what I wanted. Also try out lending club or prosper. www.lendingclub.com or www.prosper.com. They are crowdsourced lending platforms where people can borrow money and you lend them money( through what they call “notes”) similar to banks rates vary depending on various criteria including credit score. If you are smart with your filters and use some good judgements plus some luck you will get real good returns.