... curious on this bot you wrote [MENTION=341]sickmint79[/MENTION] might need its own thread..
well i have found some difficulty in that my estimate is 1200 loans are released daily, and my bot only appears to have availability to like 50. and he is a picky boi so that means it takes forever for me to find something to buy. the problem is that institutional investors get access to loans... whenever the fuck they do, and after that, investors who have auto-invest on take a bunch of them. then whatever is left over eeks out to both the website and the api at the same time for individual ones to be chosen at that point by normies who are not auto-investing. it's only been the last week i've been monitoring this (probably lowest time of the year) but if i want the juicy 1 out of 1000, looking at only 20 new ones a day takes forever.
there is a similar situation at prosper where i am also writing a bot, although, at least at first glance, it seems like it might find more it likes. well probably too soon to tell.
back at LC though, you can buy notes on a secondary market - and this is where a bunch of loans *are* actually listed. usually 100k or more. these are mostly loans that have already been made, with pay history, and people are selling them to liquidate their account for cash or they may think they are going to be distressed, etc etc.
although, the problem is that that doesn't scale. ie. with the normal loans on the website, if i find something juicy, i can put my $25 in and i can also put your $25 in, because the whole loan is for 10k. that is not the case on the secondary market, because someone is selling the remaining $15 of their original $25 for $13.50. so if i buy it... you can't, there's not another one.
so unfortunately, original bot could scale to invest in millions of dollars and for many people if it had access and money. it still runs... it just hasn't bought a single loan after a week of being turned on so far.
new bot works, but it can only scale out to how "loose" i make the buying criteria and how much money it wants to eat. i don't have a good estimate of how hungry it is based on it's current picky eating level but i think $10-$25 a day, i certainly can't scale it out to a huge amount. i expect it to give me a good % return but not necessarily on a crazy large pile of money.