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My goal for this experiment is to further understand p2p lending, evaluate if it could be a viable investment for a larger amount and achieve a net return of  LIBOR + 6% – so currently about 6.5% .  I don’t really believe the %-returns both sites advertise: 7% to 14% – we’ll see.

Read my first impressions and status so far >>

First impression of Prosper.com:

• Looks and feels very professional
• Signup process requires SS#, driver licence number and a credit check (why?)
• $50 bonus to “play with” while a bank transfer is completed
• Up to 2% bonus for lenders on investments (appears somewhat desperate)

Status so far:

1. Funded prosper account with $500
2. Invested $50 signup-bonus in two individuals, got outbid and re-listed.
3. Trying to get my head around the bidding process and the borrower profiles
4. Asked a borrower two questions – no answer so far
5. Created two “portfolios” with $100 each, to be invested in AA and A borrowers

First impression of Lendingclub.com”

• The name implied a less professional company to me – don’t know why
• I signed up to lendingclub after reading multiple blog posts about it outperforming prosper
• Signup was less involved (no #ss number or driver licence, no credit check)

Status so far:

1. Funded with $50 via paypal (that was nice and easy)
2. Waiting for bank account to be verified to transfer money
3. Funded two individuals with $25 each

Blog posts that helped me decide to invest in p2p:
1, 2, 3, 4, 5

Comments are welcome!

See and download the full gallery on posterous

(Dufy, Raoul, 1877-1953) La Fée Electricité consists of 10 lithographs by Charles Sorlier after Raoul Dufy. There were a total of 350 editions of La Fee Electricite printed by Fernand Mourlot on Arches wove paper, under the direct supervision of Raoul Dufy. The first edition was published in 1953, with the justification stamp and publisher’s signature on the first lithograph. The sheet and image size of each lithograph measures over 100 x 60 cm. This portfolio was created by Charles Sorlier to be a reduced facsimile of Dufy’s 1937 mural La Fee Electricite. The original work measures 10 x 60 meters, the most monumental work of art ever created. Here Dufy created a panoramic view of the history of electricity from ancient times to first half of the 20th century for the Pavilion de l’Electricite at the 1937 World Exhibit. The mural now resides at the Musee D’Art Moderne de la Ville de Paris. It depicts the gods of Olympus and 110 scientists, from Aristotle to Pierre Curie, who were associated with electricity. Over 200 lithographic stones were used over a period of 3 years to achieve the exact colors as in the mural. References: Monod 4001.

Posted via email from thomask’s posterous

eBay sniper

Update: it did not work …..

Dear XXXX,

Important information regarding your The Home Depot credit card account ending in XXXX

You are a valued customer, so we want to make sure you have received the following important information. As a reminder, effective with your July statement, we will no longer provide an electronic copy of The Home Depot credit card account statement to your online payment service or bank website. You will, however, continue to receive paper statements.

You can make credit card account payments at any The Home Depot store or continue to make payments through your bank’s online service. Please note that recurring payment settings may need to be re-established.

We sincerely apologize for any inconvenience this may cause.

Sincerely,
The Home Depot Credit Services Customer Service
1-866-875-5488