Quick update on my Mintos experience: I started to invest beginning of January 2017. So it has now been 5 months. I started with 500 Euro. My account balance as of today is 467.02 Euro plus 126 GEL (Georgian currency). Converted that's a total of 514.17 Euro. The account shows me a "net annual return" of 12.41% in Euro and 17.17% in GEL. Myself I calculate only a 6.9% return.
514.17/500 -1 = 2.83%
Or annualized that's
(514.17/500)^(1/5)^12-1 = 6.94%
Now I have some long term loans in my portfolio that repay the principal only at the end. I believe the displayed values don't take into account the long duration and that's why I calculate a lower return.
I mostly invested in business and mortgage loans with a low LTV (loan-to-value), preferably under 70%. I thought that even if they go default, the asset or house could be sold and pay the loan. Now I have 3 loans in default, all with LTV under 50% that I wait for debt collection. One of them had the last debt collection update in January. So today I chatted with Mintos support, they promised me an answer by e-mail.
Overall my experience with Mintos is so-so. It was interesting to try it out myself. However, I will not waste more time with it and instead focus on my stock market investments.
514.17/500 -1 = 2.83%
Or annualized that's
(514.17/500)^(1/5)^12-1 = 6.94%
Now I have some long term loans in my portfolio that repay the principal only at the end. I believe the displayed values don't take into account the long duration and that's why I calculate a lower return.
I mostly invested in business and mortgage loans with a low LTV (loan-to-value), preferably under 70%. I thought that even if they go default, the asset or house could be sold and pay the loan. Now I have 3 loans in default, all with LTV under 50% that I wait for debt collection. One of them had the last debt collection update in January. So today I chatted with Mintos support, they promised me an answer by e-mail.
Overall my experience with Mintos is so-so. It was interesting to try it out myself. However, I will not waste more time with it and instead focus on my stock market investments.