I started my account in Sept, but still not fully invested. So far:

$15,187.62

Interest: $207.45

Adjustment for past due: -$13.68

256 notes, 5 not issued, 246 current, 1 in grace, and 4 fully paid

Adjusted Net annualized return: 13.29%

A while back I played around with the secondary site "folio" with pretty mixed results. The number of people that just stopped paying fairly quickly in the process was eating up any profits. Have any of you found better results with the regular lending club site? From playing around with it quickly, it looks like you buy portions of the loans in $25 increments and wait for it to fully fund. Is that correct? If y'all are having good results with it, I might put a little money back in there and play around with it.

Anyone care to update their experience with lending club?

I put $1000 in back sept. with adjustments I'm only up to $1019.
not sure if it's worth it for a small amount

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I put $1000 in back sept. with adjustments I'm only up to $1019.
not sure if it's worth it for a small amount

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That's exactly what I wanted to know, I've been considering putting $2,500 in.

I put in $15k in Sept 2015

Today's value: $15,607
Est annualized return: 10.7%
280 notes issued
11 fully paid
5 16-30 days late
0 in grace period

Still not fully invested on my $15k. I guess my filters are pretty strict. Overall happy with the investment.

I've got a return of around 9% these days. I've been investing in Lending Club for 4 years or so.

This year the value hasn't been in the return itself (I'm slightly below previous years), but its been in the return relative to the rest of the market. In years where the stock market has been really strong, LC has underperformed for me.

That said, I feel like the really good opportunities in Lending Club have dried up. They've standardized their process and put up really strict loan requirements, so everyone who gets a loan is somewhat credit worthy. I actually like the F and G notes, but there aren't very many.

You can sell/buy notes on the secondary market (folio), but I have found you have to sacrifice value in order to unload your notes, so it almost always makes sense to keep them (unless your willing to give 5% of the value in order to get the cash). There are some buying opportunities there, but selling is tougher.

PS also beware that Lending Club does lots of business with institutional inverstors. They have people working on this full time with much better analysis than you or I can do. I feel like competing with other investors at Lending Club is a lost cause, but using Lending Club against other investment types could be good.

I pay investors 10 and 11% on my hard money loans

And you have 1st lien on real estate

I started my account in August 2014. Trickled $500 into it over the next few months. According to their math I have a 12+% return on my account. I have 26 notes. Only one defaulted, but it was a note with about $19 principal remaining I bought for $2 because someone was dumping it. I have had three that the borrower paid back early. To be honest, I go months at a time without checking it

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I pay investors 10 and 11% on my hard money loans

And you have 1st lien on real estate

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where do you flip?

their stats are off the charts now:

https://www.lendingclub.com/info/statistics.action

total loans issued at $15B!!!


i'm at 7.69%
$5,247.24 interest rec'd $321.95
adjustment for past due 36.04
3 30 days late
1 charged off

interesting article about LC's stock price decline:

http://techcrunch.com/2016/03/02/what-lending-clubs-falling-share-price-means-for-the-p2p-lending-sector/

I was lending on Prosper back in 07/08 before it was illegal in Texas. It was all gravy until half my portfolio decided to cut bait and default. It was all too simple for them.

Don't start bragging on your returns in year one, that's all I'll say.

Bump for an update for those invested...

Bumping this again because I'm also interested. Is anyone still using either of these sites and if so, care to share experiences?

I use LC. I keep it completely automated, using one of the higher risk portfolios. If I wanted to get out, I'd have to either sell all my notes, which are all $25 investments, or just shut off automated investing for 60 months while the payments came in.

I've wondered if some day it might make a good income vehicle like an annuity or a dividend stock. For example, $200K with a 7% return would allow you to pull out $1166/month without touching the principle.

Right now, that would have to be done manually, but at some point I don't see why they couldn't create a separate bucket that collects income and automatically sends to it to the investor periodically. Anything excess during the period would get automatically reinvested, and if there's less, then the transfer would be smaller.

Their lending standards are very lax.

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Their lending standards are very lax.

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Sure they are, but the bank pays me 0.0% interest to take my money and loan it to other people. Anything better than 0.0% return is a winner. An exaggeration, because the LC money is not liquid, but you get the point.

I currently have 488 notes, give or take. I would guess that a mass default on half of them would signal something more cataclysmic to my life (and yours) than the loss of a few thousand dollars.

I'm a year and a half in and have a return of 6.3%. All hand picked and all 36mo notes. Having said that, I've stopped reinvesting. I think at the slightest turn of a recession, these non-recourse loans will get slaughtered.

Drillbit4 said:

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I'm a year and a half in and have a return of 6.3%. All hand picked and all 36mo notes. Having said that, I've stopped reinvesting. I think at the slightest turn of a recession, these non-recourse loans will get slaughtered.

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I'm in a similar position. A year and a half into it and at 5.7% return. There are a lot of crap loans on their market. I can't justify the level of risk for the return and limited liquidity. The next recession, LC will be delivering negative returns and may go bankrupt.