P2P in economy with rising interest rates
I remember hearing about P2P lending years ago when I first got into FIRE, but never invested or really researched it. In a landscape with rising interest rates and a slumping stocking market, is P2P an attractive investment strategy? Pros/Cons, favorite platforms, etc?
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Yah. I wouldn’t lend money to friends and family. No way I’d lend money to complete strangers lol. I don’t have the same resources as banks and loan sharks for collections, credit verification and risk assessment
there are repercussions for defaulting on a loan from p2p lending platforms like upstart and lending tree that don’t exist when borrowing money from a friend / family member though, right? I mean, there is more motivation to repay the loan. Not that lending here is zero risk, but essentially the same risk taken by banks