I'm looking at the possibility of P2P lending to generate some passive income, anyone have waded their toes in this and if so, which platform do you use?
Do you use online P2P online lending platforms and If so which do you recommend?
DarthVaper on 22/09/2018 - 13:28
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Can you tell me what the average total return is and how it compares to say Ubank, and what is the risks?
There's been some updates this year, something about defaults finally catching up with investors and knocking down their returns to end up with a net negative (loss of capital)
Haven't had a good search on the topic, but did read about the potential pitfalls 5 years ago as they became popular. Took some time, but has kinda proven itself to be a terrible investment. There's a good reason the banks charge ridiculous interest rates ;)
https://moneyfortherestofus.com/216-avoid-this-investment/
NB this is more regarding the US market, Australia might still be in the early stages by comparison
Ratesetter has been great to me last couple of years, never a late or missed payment, rates not too bad either