Daily Payments with P2P Lending

June 29, 2018

Maybe not daily because not all calendar days are business days.  In 9 of the last 14 business days, I received interest payments on loans held with a P2P lending platform.  There was an old TV commercial for Smith-Barney, an investment house.  They claimed ‘to make money the old-fashioned way, they earned it’.  Do it the new way and let some other guy do the heavy work.  Just get the passive income!

What is P2P lending?  Peer-to-peer lending (P2P) allows individuals to borrow and lend money without a traditional financial institution like a bank or credit union.  An alternative form of lending, P2P allows borrowers to obtain financing at potentially lower rates, without major paperwork or even with bad credit.  P2P platforms are like an online market where borrowers pay a specific interest rate to people willing to loan the money.

In most P2P arrangements, multiple people may contribute to a specific loan or loans.  Each borrower has a profile with a credit rating, reason for the loan, payment period (up to 60 months) and rate.

Grades for borrowers range from A (best) to F, based on credit score.  Interest rates are higher for lower grades and default rate is higher, too.

So here is my total for the last 20 days, 14 were biz days.  I only have a couple hundred dollars allocated, so daily payments are small.

Screen-Shot-2018-06-28-at-1.03.27-AM

 

The usual warnings apply – prior performance doesn’t predict future results and your return may be different than mine, etc.

And since no one writing here is an financial or invest professional, our suggestions are just that – suggestions.  Do you own due diligence!!

Finally, every word is copyrighted to Homepeneurs and our lawyers will be in contact if you take content without permission.

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3 Tips for Freelance Workers

January 3, 2014

Want to start a freelance career?  Freelance work has many benefits: independence, control, flexible hours, and the potential to make a lot of money.  Before you make that decision, think about these drawbacks.

1) Can you and are you willing to do what it takes?

A freelancer has no backup, no wingman, no one to bail you out.  The job is completely up to you, or at least your part of the job.  Can you accept that?  Do you have the skills, experience, and determination to get it done?  Freelancing isn’t easy, and bad customer experiences can make you look bad too.

2) Are you a closer?

Getting freelance work isn’t about the number of social media sites or contacts you have.  It is about telling the customer how you will do the job, in their time, and within budget.  Social media sites – LinkedIn in particular – are great, but don’t replace a firm handshake or personal contact.  And once in the door, do you have the personality to close the deal?   You have to always sell yourself and always close the deal.

If you can’t or are not comfortable selling yourself and the services you bring, freelancing may not be for you.  You must be able to sell and react to changes in client demand and expectations.

3) Do you have the time?

Freelancing is not a 9 to 5 job at all.  It is closer to a 50 or 60 hour workweek or more.  Other than the actual consulting (freelancing) work, you will have lots of paperwork (billing, taxes, education),work on getting  the next client (while still on the current job), and of course every little task a small business needs to do.  As a freelancer, you have no staff and need to handle everything yourself.

Can you put in the time needed?  If you can confidentially answer yes to all of the above, you may be ready for a freelance career.  If you can’t, perhaps part-time freelancing is a better choice at this time.


2 Simple Concepts for Business Success

October 3, 2013

I was flying from Reno to Las Vegas a few months ago and had a great conversation with a man sitting next to me.  I don’t recall his name, only some key words of advice.  He was older – in his 60s probably – and had started many successful businesses.  I asked him for some tips.  His answer was so obvious, so simple, and so true.

Want or Need

He said that a successful business boils down to two concepts:

– Give people what they need to survive

What do people need?  The basics: food (his business), water, and shelter from the elements or predators.  Minor changes might include health care and related.  We really NEED nothing else to survive.  Not even love.

– Give people what they want

People want to be entertained, have contact with others, and a purpose in life.

Entertainment ranges from television to pornography, to sports and travel, music and art.  Why is a dumb little game like Candy Crush so addictive?  It is entertaining.  In fact, 30 percent of all data transferred across the Internet is porn.(1)  Why?  Entertainment.

Contact with others includes love, relationships, sex, the Internet, clubs, and similar.

Purpose is the hardest to define and very person-specific.  Some want money or work.  Others want to volunteer or teach or raise children.  People want a purpose in life.  A purpose to keep living.

Want to build and run a successful business?  Figure out how to satisfy either the want or the need. 

Starting a successful business really is that simple.

(1) http://www.huffingtonpost.com/2013/05/03/internet-porn-stats_n_3187682.html


Twitter Founder Reveals Secret Formula for Getting Rich Online

October 2, 2013

Twitter founder Ev Williams gives us the secret to using the Internet to get rich.

Hint: it isn’t rocket science or even hexadecimal code…

The formula is simple: find what humans want or need and use technology to deliver the product or service.

Good read by a guy who REALLY figured it out.

Secret Formula for Getting Rich Online


Win – Win Scenarios can Make Money

September 24, 2013

Sometimes luck falls into life at the most curious times.  Look for and be ready to seize the opportunity when it occurs.

I enjoy writing and have been working (on and off) on a stage play for 12 years or so.  My writing partner lives out of state and our schedules don’t allow for much collaboration.

I got lucky when I found “C” on a WordPress post last week.  She is an excellent writer and is badly in need of money because of tough times.

I need a partner to help me finish and “C” is willing to trade her writing talents for pay.  Win-Win!

My point is simple: keep your eyes open and be willing to take a change when the time is right.  From the other side, be sure your talents can be found by someone that needs them.

Win – Win Scenarios can Make Money

Freelance Writing


5 Ways to Make Money on the Internet

September 23, 2013

The Internet is a total game-changer.  We communicate, research, learn, and work from home – all using the Internet.

Starting a home business is also possible – using the Internet.

Below are five more ways to make money with the world wide web.

5 Ways to Make Money on the Internet.


40 Businesses to Start from Home

September 11, 2013

Tired of your current job?  Unemployed?  Underemployed?  Need a change?  A home business can bring financial success and personal satisfaction.  Technology and the new health care law helps many to realize the dream of starting and running a home business.

40 Businesses to Start from Home.

Home Business

Home Business

Homepreneurs website is Homepreneurs.net

Homepreneurs blogs at homepreneurs.wordpress.com

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Twitter site – http://www.twitter.com/homepreneurs

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A LinkedIn page (Homepreneurs group)

Disclaimer

Homepreneurs does not endorse nor have any relationships with any of the services listed.  Homepreneurs receives no compensation or consideration for its suggestions or recommendations.  Homepreneurs strongly urges all interested parties to conduct research and accepts no responsibility for any losses incurred.

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