So I am considering allocating a small part of my portfolio for peer to peer lending, but have never done it before. I did skim through what WCI has on this topic, but have not studied it extensively as of yet.
https://www.whitecoatinvestor.com/tag/peer-to-peer-lending/
What have your experiences been like? How did you decide to go with Lending Club vs Prosper?
https://investorjunkie.com/9328/lending-club-vs-prosper/
http://www.lendingmemo.com/lending-club-vs-prosper/
Most importantly, do you feel that it can be done with relatively few hassles? I've heard some hassles related to taxes and such - what are they? Is there a way to keep this cash relatively liquid (i.e. allow for short-term loans so you can pull out in say a year if you wanted to, or does it pretty much have to become a long-term thing)? Essentially is it reasonable to say take 20k, put into a relatively conservative automated investment and pull out in a year with a then more modest rate of return, or that's how how it really works?
https://www.whitecoatinvestor.com/tag/peer-to-peer-lending/
What have your experiences been like? How did you decide to go with Lending Club vs Prosper?
https://investorjunkie.com/9328/lending-club-vs-prosper/
http://www.lendingmemo.com/lending-club-vs-prosper/
Most importantly, do you feel that it can be done with relatively few hassles? I've heard some hassles related to taxes and such - what are they? Is there a way to keep this cash relatively liquid (i.e. allow for short-term loans so you can pull out in say a year if you wanted to, or does it pretty much have to become a long-term thing)? Essentially is it reasonable to say take 20k, put into a relatively conservative automated investment and pull out in a year with a then more modest rate of return, or that's how how it really works?
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