Theincomebeast.com
** Update** Review from a new user
** edit after using Groundfloor for two years I had to downgrade my rating and I am pulling all my funds out. The concept is great but lenders are not compensated for the level of risk. When you loan on GF you are loaning to anyone and everyone who watched too many house flipping shows. I discovered that many of the borrowers on the site seem to have limited experience and a large percent of notes go into default. Lenders also have to realize that not only are you gambling on the flippers ability but you are also taking a chance that the home probably won’t sell and close on time. If GF charges fees for being late they must keep them because I never saw any extra $ from all my late or extended loans. I think some may have had decent success on the platform but I didn’t. My realized return was only 3.2% so not even keeping up with inflation. This is a p2p lending platform that allows people to loan and borrow funds from Groundfloor which are mostly supplied by the users. Groundfloor funds different Real Estate projects and then users are able to fund portions of the deal starting at just $10. There are different grades of investments available at different rates of return and lengths of loans. Most users will find something that suits their particular risk level and time horizon. I like that Groundfloor provides a good amount of details about each different loan so users can conduct their own due diligence. This is important since although Groundfloor likely does their own it is possible for each user to conduct even more analysis of the deals. I also like the ability to select only deals in non-judicial states which would make it easier for Groundfloor to foreclose on a project should the borrower not repay the loan. I think the site could improve slightly on the user interface especially when trying to view loans the user has already invested in. I also would like to see more filter options available so I could view loans that meet my criteria quicker. Right now there are basic filter and sort options which could be improved upon slightly. Also, all of the investments must be in increments of $10. So if you have $9 of interest sitting in your account that money can not be invested until there is $10 available, so you could not invest $19 into a loan. Overall this seems like a good opportunity for investors to earn a decent return especially if they only have a small amount to get started with. I have already had several loans get repaid and the system they have in place seems to work pretty efficiently. I could see myself using the site to add money each week and building up a sizable investment over time.