It looks like LC has an offer through November to start a Prime account with no fees for as little as $10k, or convert an existing account to Prime. I would appreciate thoughts on the Prime account and expected returns.
In my case, I have an LC account under 10k of hand-picked loans (using mostly information from here) that is doing well (but only 4mos old), and I would need to top this off with new funds to hit the 10k mark.
What kind of returns can a Prime account expect and what are the best options for selecting notes in a Prime account?
I would probably fund another smaller account just to keep doing the hand-picked strategies.
My feeling is that an individual using some strict filtering will always do better than a PRIME account. I have had a PRIME account for 2 1/2 years now (I have kept it up as an experiment) and it is my worst performing account at a 5.7% real return. I think PRIME is great for those people who don't want to actively invest but I wouldn't choose it for better returns.
I'm not really considering because you can't filter enough information for automation to get the right return.
It's funny, because even though it takes time to fund notes, I find it almost a hobby: picking notes that I believe and have found through data to yield the best return.
the only type of bonus that I'm interested in from LC is if they run a deposit "X" dollars by such and such date, and get a bonus of Z dollars / percentage.
unfortunately, they havent run any such promo in a long time, probably because they dont need to with all the institutional money coming in
Actually picking notes is kind of like a hobby for me too. I don't ever have enough time, but I enjoy reading up on strategies from LendAcademy and other places, finding notes, and watching the returns grow. I just thought the Prime account would make it a little easier. The LC support folks said I could continue to handpick notes in the same account when funds were available.