Found the Money Magazine that showed what P2P lending was. It was the December 2006 issue. It took me 2 months of careful and skeptical fear to finally start funding loans. It made me 8.00 dollars the first month. It is now making over 150.00 a month in principal and interest. I am looking for ways to find more money to put into this.
I have figured out that I make about 18.00 a month for every ten loans I have lent at 50.00 dollars a piece.
Ten loans = 50.00 X 10 = 500.00
PnI = 1.80 X 10 = 18.00
100 loans X 1.80 =180.00
1000 = 1800
10000 = 18000 all per month. At that stage I would just live on half and let the rest build.
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