ProsperBot

What does ProsperBot really do for me?

ProsperBot automates nearly every aspect of your Prosper.com investment strategy, saving you significant time and effort. It provides hands-off automation to help you maintain a consistent and disciplined investment approach.

ProsperBot will automate the purchasing of loans, monitor payments received, and inform you of when to withdraw your money. If a loan doesn't fund, cancels, or pays off early, ProsperBot will immediately reinvest those funds -- up to a month faster than manual monitoring would allow. The service can assist with any new or existing Prosper account in any state, and it will help balance your investments according to proven criteria.

ProsperBot took time and specialized skills to build, and it costs money to keep it up and running smoothly. I plan to keep it updated with the latest features and improvements, but it is not guaranteed. This page will be updated if any changes are made. I am offering this to you as a subscription service for $12.99 a month with a 15-day free trial. You maintain full control of your Prosper account. You can cancel/revoke privileges to the bot at any time and cancel your square.com subscription.

Steps to have ProsperBot run your Prosper investment strategy

1. Students will establish and fund an account in Prosper.com (Established students will use their existing Prosper account).
2. Students give permission for ProsperBot to manage their account (our registration process will set this up).
3. Set the Auto Invest toggle to Off.
4. ProsperBot will purchase loans for you according to the Epic Wealth criteria. It will send you a daily email showing how many loans you own, your yield, purchasing activity, and payments received so far this month.
5. You manually deposit money into your Prosper account when you want to flip.
6. You manually withdraw money and send it back to your IRIS Sweep Account on the first day of each month. ProsperBot will email you on the first day of the month, reminding you to make that withdrawal today and telling you exactly how much. You are given a 4-day grace period to make the withdrawal.

ProsperBot investment strategy

Below, I describe what the bot will provide to you and how it works. You still maintain control of your account. You can turn it off anytime by logging into Prosper.com and revoking permissions for ProsperBot, and then by stopping your square.com subscription. This is your right and your responsibility to do. If you choose to cancel, please email me at myprosperbot@gmail.com so I can update my systems as well.

• ProsperBot will monitor any registered account each day according to the schedule below.
• It will calculate cash available to invest (Cash Available to Invest = Cash Available in the Account - Payments Received This Month).
• Any Cash Available to Invest >= $25, will be invested into qualifying notes.
• It will balance investments into the following ratios:
• A - 47%
• B - 48 %
• C - 5%
• It will only purchase 3-year (36 months) loans.
• It will exclude Co-Borrower Loans
• It will exclude loans with Debt-To-Income > 40%.
• It will exclude loans where the borrower is self-employed.
• It will only invest $25 into each note.
• It will never invest into the same loan more than once.
• Money from canceled loans (loans that never originate) will immediately be reinvested into new loans.
• Money from expired loans (loans that never originate) will immediately be reinvested into new loans.
• New deposits will immediately be invested on the next scheduled release of new loans.
• Money from loans which fully pay off within 120 days of being funded, the final payment will be reinvested into new notes.

Monthly withdrawals back into IRIS sweep account

• ProsperBot will monitor payments collected for all loans on a daily basis.
• Payments Received include all payment transactions for Current, Charge Off and Completed Loans.
• Completed Loans that are paid in full within 120 days of being funded excludes the final payment in Payments Received and are reinvested into a new note.
• Payments Received will not be reinvested. They are excluded from the Cash Available to Invest.
• On the first day of the following month, a text will be sent to you informing you of the amount you are to withdraw. The amount represents the Payments Received for the previous month. It will never exceed the Cash Available in the account and will report the lessor of the two numbers
• You will have a 4-day grace period to make the withdrawal. Once ProsperBot detects a withdrawal within the first 4 days of the month, it will no longer hold the funds from being reinvested.
• YOU must make the withdrawal within the first four days! Any money not withdrawn will be reinvested on the 5th day of the month!
• ProsperBot does not validate the amount of the withdrawal. That is up to you. It does detect that a withdrawal was made within the first 4 days of the month and will hold the full amount of previous month's Payments Received until it detects a withdrawal was made.
• You control the amount of the withdrawal. ProsperBot does not monitor the amounts withdrawn nor will it verify that you are withdrawing the correct amounts.
• You control all Deposits and Withdrawals.

Account Monitoring / Communication

• The program will automatically monitor Prosper at the following times
• 8:55 AM - 9:15 AM PST Monday through Friday
• 2:55 PM - 3:15 PM PST Monday through Friday
• 11:55 AM - 12:15 PM PST Saturday and Sunday
• ProsperBot will send you an email when it is finished processing for the scheduled time.
• Daily Summary Investing Status email will include:
• Total number of active loans in which you are currently invested
• Average yield of all your existing loans (Interest Rate for each loan / number of active loans)
• MTD Payments Received - This is the total amount of payments received so far for the current month. This is based upon the investor_disbursement_date (which is when the payment monies are liquid and available to withdraw). If you withdraw funds in the middle of the month, the full amount will still be held out of the month's cash available amount.

  ProsperBot was designed for you to withdraw the monthly payments received within the first four days of the month. It works better that way and the numbers line up better than if you withdraw money more than once a month.

• Total number of new loans invested in during that run
• This is excluded if there is no cash available to invest in or no loans were available in which to invest in.
• Notice to Withdraw $XXX.XX from Prosper
• This is added to the text on the first day of the following month (It may also appear on the 2nd, 3rd, and 4th days if you have not withdrawn last month's Payments Received).
• It does not track withdrawal amounts. If you are making other withdrawals or different amounts, ProsperBot does not monitor this.
• The amount shown will never exceed cash available to withdraw.
• The amount shown to withdraw will be different from the payments collected if the cash available to withdraw is less than collected payments (e.g. withdrawals were taken in the middle of the month).

Why not just use Prosper's Auto-Invest?

With ProsperBot you can just turn off your Auto-Invest, and you should!

• Auto-Invest is fine. It does part of the work for you that ProsperBot does. But not most of it.
• Auto-Invest does not respect the flow of money that comes back to your sweep account. It will invest your collected payments.
• ProsperBot will make sure you are invested in the right notes, often within minutes of the notes being released by Prosper.
• You don't have to worry about remembering when to turn it on/off, so it doesn't accidentally invest money you have received in payments.
• It will not tell you when to withdraw and how much.
• It will not update you with a text of the daily status of your investments.
• It will not help you figure out how much money is from canceled, paid off, or otherwise unfunded loans, or help you to redeploy those funds.

Daily Example Updates