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- Aug 14, 2014
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The relatively new concept of person to person loans through lending club has become available in the great state of Texas. Now it has been a while from when I was frequently interacting with the fast lane, more on why (and a huge rant that has been cooking for a while) in another thread. Alot has changed and I have grown up a tiny bit (not alot, still a 20 year old naive college kid 
)
So I researched Lending Club, but it had yet to be made available in Texas. Now it is available. I have seen this as a pretty high risk, low maintenance investing platform. They state a 6 to 9% return on your money. So I weighed it all out. I have found some pros and cons
Pros:
easy to do
Good returns
No start up minimum
Simple platform
simple concept
Cons:
Risky
little control (illusion of control)
For what I know...There is not a collector group...if the person Flubs up you are left high and dry.
With my income. I could stash away 200-400 bucks a month into this. Does anyone else have experience on Lending Club? or even better a success story? I really love the shared economy. This also embodies the Sell shovels mindset.
) So I researched Lending Club, but it had yet to be made available in Texas. Now it is available. I have seen this as a pretty high risk, low maintenance investing platform. They state a 6 to 9% return on your money. So I weighed it all out. I have found some pros and cons
Pros:
easy to do
Good returns
No start up minimum
Simple platform
simple concept
Cons:
Risky
little control (illusion of control)
For what I know...There is not a collector group...if the person Flubs up you are left high and dry.
With my income. I could stash away 200-400 bucks a month into this. Does anyone else have experience on Lending Club? or even better a success story? I really love the shared economy. This also embodies the Sell shovels mindset.
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