Prosper Automated Investing with Nickel Steamroller

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I recently got to a point financially where I was comfortable investing with Prosper.  I wanted to be able to compare the two platforms as well as diversify my peer to peer lending investments across both Lending Club and Prosper. As an added bonus, you get to follow along as I report on my returns and learn how I invest with Prosper.  Since I have no interest in hand selecting loans, it was a no brainer for me to automate with Nickel Steamroller - which is currently free. If you’re interested in automating your investing with Nickel Steamroller, please be sure to contact them and let them know I sent you.  They also offer automation with Lending Club and in my opinion are the number one resource for peer to peer lending analytics. In my next post, I plan to outline more in detail my thoughts on investing with Prosper, but for now here is my latest video on automating my Prosper investing with Nickel Steamroller!

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I went on vacation last week, but my Lending Club account didn’t (How I invested $1,000 in less than 1 week)

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Ryan VacationIt wasn’t until last week until I truly appreciated the fact that my account was fully automated.  I used to think automation wasn’t necessary. After all, I’m a software developer by trade and usually have my laptop within reach during the 4 pm or 8 pm CST note release times.  However, last week I went on a road trip to South Carolina and camped along the way down south - not conducive to managing a p2p lending account that isn’t automated.  I tried to coordinate a significant amount of capital (it’s all about perspective people) being invested while I was gone and see how long it would take to invest. [Read more...]

Lending Club Filter Strategies and One Benefit of a Smaller P2P Lending Account

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I have been reading recently about other blogger’s strategies when it comes to Lending Club filters.  I wanted to write about another technique that I utilize, which is creating filters that are restrictive based on how much you need to keep invested.  Having a smaller account means that I don’t need to open up my criteria as much as others do.  In the long run, (provided loan availability stays consistent) I should be getting even better returns. [Read more...]

Nickel Steamroller 2.0 Released!

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nickelsteamrollerlogoBack in December, we featured our Q & A with Nickel Steamroller in anticipation for the new version of their site.  If you haven’t already heard, Nickel Steamroller released version 2.0 a couple of weeks ago which includes a great amount of analytics for p2p lending that regular Nickel Steamroller users have been accustomed too.  One big change you will notice is the addition of Prosper analytics.   [Read more...]

Peer to Peer Lending Automation - The Key to Investing in Lending Club

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lendingclubautomation

If only it were this easy…

Over the last couple of months, we have featured 3 tools for automating your investments in Lending Club.  Before the question and answer sessions we posted, my process for my investing was completely manual. Brian was investing manually as well and he actually setup a third party mobile app to send him notifications just before Lending Club releases notes.  Even with my relatively small account, I was missing feeding times and had available cash just sitting in my account pretty often.  Automation tools are starting to mature and I decided that it was finally time for me to try them out and hopefully help others who were considering automation.  [Read more...]

Q & A with Nickel Steamroller - A Look Into What’s to Come

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nickelsteamrollerlogoThis is our second post in a series of posts of third party tools for peer to peer lending.  Our first post featured automated investing with LendingRobot.  In this session, we will be featuring a Q & A with Michael from Nickel Steamroller, which is a great source of information for everything LendingClub and Prosper. [Read more...]