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Lessons Learned

Started by Peter, September 21, 2011, 11:00:00 PM

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Pebbles

In the beginning I actually purchased several notes with 6+ inquiries.  Looking back I am not surprised that I had so many charged off.  Another thing that they had in common is that most of these defaults were renters and the loan amounts were small....$2K - $6K range.  After some hard lessons learned and a whole lot of reading I'm experiencing fewer defaults.  Wish I knew then what I know now.

Peter

Publisher of the Lend Academy blog

See my returns here: http://www.lendacademy.com/returns

TravelingPennies

I'm getting there.  I can't get over the 8.6% hump.  LC is still my best investment so I'm not too sad.  No payments posted to my new investment criteria/portfolio as of yet.  Those payments start in October and I expect my percentage to rise above average (fingers crossed).  I took Steamroller's advice via his analysis tool and I sold a bunch of notes with low rates as well as notes with down arrows and a bunch of inquiries.

TravelingPennies

Pebbles,
Great thread.  I think its very wise to look at your charge offs and see what may have gone wrong. Be careful though, you can do everything right when picking a loan or everything wrong and get unintended results.  Just like playing poker, its better to play the odds then to base opinions off one hand.

Jason

TravelingPennies


veggivet

Based on Peter's research, I try to limit my loans to those with ZERO inquiries. Of course, this is just one of my filters, but Peter believes it may be the most important correlation with loan performance.


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