Re: Prosper.com
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Prosper CAN be a place to earn a decent return on a small amount of money, if you research your loans properly. But if you are only willing to invest $50 - $100 per loan, it is not even worth your time to research that loan.
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That was one of the first things that hit me. $100 at 20% is $20. If you need to read 5 profiles to find one that is good you have waste 30 minutes. If I wanted to make $40/hr I'd get a job. At least with a job you don't have to worry about defaults nor wait a year to get your $20. I figure Prosper.com is more for people with limited cash who want to feel like they are "wheelers and dealers".
I personally enjoy reading the sob stories. I wanted to start a site BegForMoney.com where I'd offer people the option to present their sob story and give money to the best sob story of the month but my GF thinks I'm mean to poor people and wouldn't be happy.
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