Completed my first investment using the Lending Match feature of Lending Club
Last week I finally finished up my first batch of investment loans using the Lending Match feature of Lending Club. Basically, the total process took two weeks. The bulk of the investments, all but one, settled within the first week and then I had to make two multi-day attempts to get a replacement for the one loan that did not settle. I did end up with a better loan than the original one that was part of the batch recommended by Lending Match, but it did take some manual effort on my part to "close the deal." Net-net, I am done and pleased with the result. I now have twice the investment portfolio I had a month ago. A total of 17 notes.
I'll give this latest batch of investment notes two months to see that everything is okay and payments are on time, and then I'll consider a next batch to double the size of my investment portfolio again, assuming that I have work income coming in at that time.
According to the Linding Club web site, my Net Annualized Return is sitting at 13.59%. Once the new batch of loans starts "producing", this should move up to about 14.5% or so, maybe even 15%.
Note: Lending Club also has an IRA arrangement. I haven't investigated it yet.
posted by Jack Krupansky @ 7:56 PM
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