I have been auto-investing a little bit each month on the goPeer Peer to Peer (P2P) lending platform for the past year and a bit. This post is to provide some real world results of their platform.
Overall the investing process is very straight forward with auto-invest. I had set it to invest the same amount on loans graded C- or higher a year ago.
Looking at my results for the year below I was concerned as my delinquent amounts are nearly as much as my total earnings.
This is obviously not great, so I did another level of investigation looking at the amounts in Delinquent status. Mostly they are late but at least one is classified as in default (but not charged off I guess). Interesting 100% of my Delinquent loans are rated at C-. Given this I changed my auto-invest to be C or higher.
Overall the experience has been pretty good, and I plan to continue making regular monthly contributions so see things improve over the coming year. The rates are very strong even on B and C loans, and I would rather take a little less interest and get paid back!
If you are interested in anything leave a comments, and it would be great if you used my referral code so we can both get $30. You just have to open an account and invest $1000.