We’ve long suspected that once investors understood PeerStreet’s asset class, they would migrate away from P2P consumer lending platforms over to PeerStreet.
Why? Because it is a higher yielding and shorter term investment that is backed by real estate. And if underwritten correctly, in my view, is one of the most mispriced assets available from a risk-adjusted return perspective. But until PeerStreet, most people couldn’t access these investments at all.
PeerStreet vs. Lending Club
We’d already noticed the migration happening from the P2P investing space over to PeerStreet, but with the more recent and very public problems in the P2P lending space, that migration is now happening with greater velocity.
Here’s a very typical comment we’re hearing from new customers:
“Keep up the good work. I’m draining my Lending Club account and moving it over into marketplace real estate… mostly with you!” – Actual PeerStreet Customer
So it isn’t a huge surprise to hear that smart investors like Sam Marks and Johnny FD from the very smart and funny podcast called, Invest Like A Boss are switching their investments. What’s surprising is that these nomad entrepreneurs found us while they are half a world away. I got the chance to speak with Sam on his podcast recently and was delighted to hear about how he and his fellow travelers found out about PeerStreet.
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