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/biz/ - Business & Finance

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11719858 No.11719858 [Reply] [Original]

How does /biz/ feel about p2p lending?

Have you any experience with them? Purely loans, or mortgage based?

>> No.11719893

>>11719858
scam

>> No.11719905

>>11719893
Based on?

>> No.11719954

>>11719858
I've had a lendingclub for about 4years, pretty dismal returns nowhere near close to what I thought I'd get (2-3% even with mainly C D and some E and F loans), gains taxed as dividends not capital gains so higher tax rate, when someone defaults on your loan that counts as a tax loss but you can only exercise 3k per year and with the 100k I had in i had something like 17k losses.

If i had to do it again knowing what I know now, I wouldn't. I would not recommend it

>> No.11720306

>>11719954
Jeez. I'm looking into Zopa at the moment. Not looking to put more than £1k in at the moment.

Just as a toedip alongside Vanguard.

>> No.11720340

I'm really not interested in it at all from a standpoint of loans to other people. banks can handle that. it's too time consuming for the available returns. poloniex's margin funding system used to be absolutely based but of course the feds are shutting that down for US customers/already did. that type of lending is good, where you fund margin and the only risk is with counterparty risk and the tail risk that comes from the possibility of positions not getting liquidated fast enough to cover everything (never happened on Poloniex as far as I know). I am highly interested in margin funding on a dex, once that can be done in a way that isn't a slow and expensive mess

>> No.11720461

>>11719954
canny believe how many people are on there with shit credit ratings, close to max utilization, shit debt/income, and they're requesting vacation loans. boggles my mind.

>> No.11720489

>>11720340
I met a kid at a conference recently who was working on secondary loan markets using 0x and Dharma. seems like the obstacles you're describing won't be for long.