Prosper: Invest 4+

If you’re looking to diversify your portfolio prosper is a good option. Full disclosure, I consider myself a regular person who tries to invest with his limited knowledge. I am not a banker or financier, just a working professional trying to maximize his money into investments that grow. I saw prosper as an opportunity to do this. Prosper makes it very easy on their app to invest and check your returns. I have been a lender with prosper for at least 5 years now. At one point I was ready to pull my investments from prosper after getting discouraged with some failed repayments by borrowers. While I did withdraw some of my investment, I still kept more than half of my initial capital investment tied into loans. I decided against fully withdrawing and closing my account after realizing it was a safer investment and offered decent but modest returns. If you’re looking for large returns north of 7-8% you’re in the wrong spot. But a return of 4-5% is very possible. You just can’t have all your money tied down in equities. That’s just not safe. And while some prosper investments fizzle when borrowers fail to repay, the vast majority do.

I don’t have a huge sum of money invested in prosper but I like the balance it provides me for my portfolio.

For this type of investing, the risk is totally on you. Almost anybody can apply for loan from Prosper. I’ve had borrowers form group A come up late sometimes but if you get greedy wanting a higher return from borrowers in group C, D, E, and HR (High Risk) just know it’s possible they come up late majority of the time and or go into default which ends up as a lost for you. I place higher dollar amounts in AA and A loans. Keep it as minimum as you can for other groups.

Future investor with Prosper... or so I wanted to be.

Set up my account. A week ago, roughly. Made a mistake, tried to correct it. Issue was that I fat fingered the account number when I entered it via the account set up. My mistake.

The fouled up account information can’t be fixed from my end. I have no way to delete the account, and no way to verify the account. Can’t add a new account, either.

Tried to call in, no go. They’re closed when I’m off of work.

Write in via email, and immediately got a very unhelpful run around from investor support. First, held up two days for them to get back to work.

Then I get emails asking me to verify the existing bank account, and closing the ticket.

Apparently the ONLY way to fix this is by mailing in the verification of the fouled up account. Which I can’t do, because I don’t own the account.

I ask them to delete the account (so I can set it back up again). Nope, they closed it instead. To set it back up, I have to call in to a company that is closed when I’m off.

Apparently, they don’t want my business.