[DJ-Matt]

(06-06-2016 11:34 PM)booshala Wrote:  

(06-06-2016 11:14 PM)samsamsam Wrote:  

Stock is up a $1- thought about it. should woulda coulda

Personally I'm going to reassess after a year and (hopefully) have the benefit of a long term cap gains tax rate if I do make some money off of it. Bought at $3.97, let's see where it gets to by 5/20/17.

Unfortunately I bought at $5.00 so I'm just now making cash, however the funny part is I think I've made more off the stock than the same amount of cash invested in notes.

[Mat_hieu]

So what about the EU residents ? Is it possible to do this ?

[slowpoke]

I want to invest in P2P but I don't trust it enough to invest large sums and it doesn't seem worth the bother if you're only putting in a couple of thousand

I had a look at twino.eu and they were offering return's of about 12% and even buy back defaults.

No problem when times are good but if there's a market crash then your entire capital is at risk with no protection

(08-12-2016 04:08 AM)Mat_hieu Wrote:  

So what about the EU residents ? Is it possible to do this ?

Couple of EU based ones I know of: twino.eu & mintos.com

[Neo]

Hey guys,

Wanted to bump this thread. It's now more than a year into my P2P lending experiment.

Right now my seasoned returns are ~11%. I still have not had any defaults, however I want to mention that I threw a bulk of money in around the beginning of 2016 which hasn't had a chance to become 'seasoned' (+10 months) My total returns are at 14% right now.

Every time I log on I always have some people who are late, but so far they eventually paid up.

Last month, I made around $50 in interest. If you really want to build up 'passive income' you're going to need to put a lot of money in there, but that's the same for every investment. As a supplement to other hustles you have going on I highly recommend this so far and I'm loving it. Especially since savings accounts pay garbage. Keep in mind though that the minimum loan term for Prosper is 3 years so it's really a 3 year hold. If you want to use the cash that builds up just don't reinvest, I personally always reinvest.

I'll keep updating this thread as time goes on, any questions feel free to post or PM.

[CleanSlate]

I got on Lending Club 5 months ago... here are the stats so far:

Notes bought: 45
Issued and current: 40
Paid in full: 3
Late: 1
Charged off: 1
Net return: 8.24%

[DJ-Matt]

At least 10 months in now:


My Notes at-a-Glance 32

Issued & Current 23
In Grace Period 0
Fully Paid 6
Late 16 - 30 Days 1
Late 31 - 120 Days 1
Default 0
Charged Off 1

Net Annualized Return 10.83%

[CleanSlate]

(10-17-2016 10:52 AM)DJ-Matt Wrote:  

At least 10 months in now:


My Notes at-a-Glance 32

Issued & Current 23
In Grace Period 0
Fully Paid 6
Late 16 - 30 Days 1
Late 31 - 120 Days 1
Default 0
Charged Off 1

Net Annualized Return 10.83%

You had only 32 notes total, with one charge off, and your net is close to 11%... I had 45 with 1 charge off and mine is 8%? How is that possible?

[Neo]

Time for another bump.

I'm now more than a year into this and have been consistently adding money over the year. As it stands now:

Total active notes: 180
Current: 174
Past due (1-30 days): 5
Past due (31+ days): 1

Seasoned Returns - 10.74%
Annualized Returns - 13.87%

My analysis from above stands. As a way to diversify your investments I think these lending sites are viable.

I was doing research on what happens if(when) the next recession hits, and a lot of people compared p2p lending to credit cards which still made money during the recession. True credit card companies have millions of customers, but diversifying and having 100+ notes is still a good sample. I have a normal distribution of notes with most being the "C" grade.

Last few statements made between $50-$60 a month almost completely passive. Since I started I've spent at most 2-3 hours on the site. I have a preset search and I log in twice a month to reinvest the cash that built up. I still use the quick invest feature, as the auto-invest last time I checked did not have all the filters I wanted.

Again it's not a lot of money compared to some of the ballers on this forum, but for the amount of work and diversification I'm liking it. Especially with savings accounts paying next to nothing these days.

[DJ-Matt]

E F G loans are definitely the bunk, I've had 1 go belly up already, and the other three are in the 31-120 days late with many missed payments, I'm sure they're fucked. One of them has "borrower declared chapter 7 bankruptcy" so it'll go to charged off guaranteed now.

Dashboard still shows account value $570, my initial starting amount was $500.

[Neo]

(12-05-2016 02:57 PM)DJ-Matt Wrote:  

E F G loans are definitely the bunk, I've had 1 go belly up already, and the other three are in the 31-120 days late with many missed payments, I'm sure they're fucked. One of them has "borrower declared chapter 7 bankruptcy" so it'll go to charged off guaranteed now.

Dashboard still shows account value $570, my initial starting amount was $500.

My E's on Prosper are actually doing the best return wise., but many are not seasoned yet. So far I still haven't had a default, but I'm 99% sure the guy in my 31+ days late is going to default, he's been in collections for more than 3 months now. I think after 120 days it's done. PM me if you want my prosper filters they seem to be working well so far.

[CleanSlate]

My annualized net return dropped to only 3.5% with 4 notes being charged off (out of 50 notes). This is an 8% default rate, which is unacceptable.

I'm going to let all my notes mature and pull all my money back out of Lending Club. I rather invest in Bitcoin... and if I had done so at the time I created my lending account, my initial investment would have doubled to this day.

(I am also invested in bitcoin, having put about 10% of my savings into it before I moved overseas)

[Jack Of All Trades]

Is anyone making significant above market returns still or has the ship sailed? because it's been quite a few years since lending club started.

[Stallion]

For EU residents:

Tried both Twino.eu and Mintos.com, 500 euros in each just to see.
I've been there only a couple of months, both had similar results (around 1% per month, so 12% annual). Mintos sligtly better, I got a month at 1.2% returns.



After my third month I will do a more in depth analysis of my results and see what I do, but I'm thinking to invest equally in both.

I'm on the hunt for a third reliable site from another EU country, never put all your eggs in the same basket and so on.

Bondora gets much rep over the internet, but if you look deeper, there are many complaints about lack of transparency, changin important policies without any notice, and in general many things that smell very fishy (almost like a scam). I opened an account and since them I receive a dozen emails/calls per week pestering me to send money to the account, no thanks.

[IronShark]

(12-24-2016 10:52 AM)Stallion Wrote:  

For EU residents:

Tried both Twino.eu and Mintos.com

Do them also cover our Great Britain?

[IronShark]

It's a bit off the topic. But this is the experience I would like to share after spending (now) 7 months in Iran about loan and investing.

Banks here give people loans and demand 35% annual interests. On the other side they offer up to 20% interest for saving accounts. However, that 20% still can't chase the inflation rate. That means you will still lose money (even with 20% interests).

Also, in "Free Market" or loan sharks charge poor desperate people for 60% per annum.

Seriously, dogs eat dog.

[Neo]

(12-23-2016 03:21 PM)Jack Of All Trades Wrote:  

Is anyone making significant above market returns still or has the ship sailed? because it's been quite a few years since lending club started.

I'll keep updating this thread with results every few months, but yes. Check out my posts throughout. I finally had a default. The first in over a year of lending.

[John Michael Kane]

I've used Prosper for a while now. Made some decent returns on it. Always did only $25 per loan to minimize risk, plus only picked loans that were A Class rated. My biggest problem with the platform when I was active on it was that there was a shortage of loans that met this qualification. I had more money to invest, than loans that matched these settings. I didn't want to break my rule of risk diversification by putting more than $25 per loan. The other challenge is that when you are only putting $25 per loan, you're using quite a bit of time to research notes and read the reasonings behind why the borrower needs the money. The ROI versus percentage back versus time spent seems like this might not be the best way to make money. If you are a little more aggressive of an investor, I could see how dropping more than $25 per note could grant you less time spent browsing for decent returns. My question would be that seeing the spread is smaller, you are less insulated from the shock of one or more notes being charged off, leaving you exposed. It is all about your risk tolerance.

[[email protected]]

In Australia you can do p2p lending through https://www.ratesetter.com.au/

Seems like you choose how much to lend and they do the rest. You don't get to choose who you lend to or what rates. They will pay you out 4.6~9.2% annualised interest (depending on how long you leave your money with them https://www.ratesetter.com.au/peer-to-pe...ng-markets) and claim they have yet to have "lost a cent of principal or interest owed."

In my opinion, this is not a good investment. 5.1% interest after 1 year... Beats the bank by 2.1% here and to get 8.0-9.2% you have to park your money for 5 years, barely beating out inflation. You are far better off just parking your money in a dividend paying stock like TLS

[Stallion]

(12-27-2016 02:01 PM)IronShark Wrote:  

(12-24-2016 10:52 AM)Stallion Wrote:  

For EU residents:

Tried both Twino.eu and Mintos.com

Do them also cover our Great Britain?

From their website:

Quote:

Both individuals and entities can invest through Mintos. Individual investors must be at least 18 years old, have a bank account in the European Union or third countries currently considered to have AML/CFT systems equivalent to the EU, and have their identity successfully verified by Mintos.

Twino is similar. So if you have a EU account, regardless of nationality, you can. Verification is really easy, just send a pdf scan of passport or ID. They don't even ask for address proof, and taxes are your own responsibility.



There are plenty of P2P lending platforms in the UK actually. If you trust the GBP you should look into that, although it's not a bad idea to diversify into euros.

[xxMarco]

It's been about 9 months since i started a lendingclub.com account. I decided to start with 300$ to feel it out. So far not doing good. I went for C,D, and E category loans and 1 of my D loans was recently charged off. 2 other loans are in a passed due state which from the looks of it will be charged off as well.

I don't think I'll be putting more money into the account. It takes too much time for very little return on investment.

[Neo]

Ok guys bumping again.

So I finally had my first default. The loan that I mentioned above was charged off. After this my seasoned returns dropped to ~9%, my unseasoned are at ~13%.

I might have more defaults on the way as I have 2 loans in the 31+ days late category. I'm now around 15 months into this.

From reading some posts int his thread my recommendation is to have more money put aside before making a decision to invest this way. I started with $500 and was lucky as those first loans are still chugging along.

However, if you begin with an amount like that and some of them go belly up your returns are shot. I'm still getting around $50-60 a month in interest. I'll see what the tax man says this year.

I'm also going to keep track of the loans that default to find any recurring characteristics. The one that defaulted was actually a B.

Hilariously, looking at the one that defaulted and all the loans that are late I did notice a trend...I'm pretty sure they are all women At least they have traditionally female jobs (nurse, nurse, clerical)

Clearly none of us are surprised. I wouldn't be surprised if some just think that this loan is some type of magic internet money.

So I'm going to look more closely at occupation in the future.

Good luck guys and a prosperous 2017 to y'all.

[Cattle Rustler]

Can you restrict your lending to just males?

I know it might be against some federal loan law shit.

[DJ-Matt]

Can you deduct the loans that went belly up off your taxes? I got fucked by at least three deadbeats so far.

[MrRemi]

I created a Mintos account some weeks ago after reading this thread. Among others I invested in some bad debt from the secondary market traded with a discount. Three of my loans have defaulted and are in debt collection process. These loans are two Latvian mortgage loans and one Lithuanian business loan. All of them have a collateral, highest LTV is 53%. I am now curious how much money they are able to recover.

[IronShark]

(01-17-2017 03:12 AM)MrRemi Wrote:  

I created a Mintos account some weeks ago after reading this thread. Among others I invested in some bad debt from the secondary market traded with a discount. Three of my loans have defaulted and are in debt collection process. These loans are two Latvian mortgage loans and one Lithuanian business loan. All of them have a collateral, highest LTV is 53%. I am now curious how much money they are able to recover.

After reading this thread I also opened few accounts. I find Mintos lenders quite dodgy to be honest. Instead, I have invested some cash into a UK peer to peer lending company called Zopa. Try them if you have a UK bank account.