Lend Academy Network Forum

P2P Analysis/Investment Sites => BlueVestment => Topic started by: BlueVestment on March 12, 2014, 01:15:11 PM

Title: How important is automatic selling of your notes?
Post by: BlueVestment on March 12, 2014, 01:15:11 PM
I'm trying to gauge the public's interest in automatically listing notes for sale when they meet a specific criteria (such as being 'at risk').
Title: Re: How important is automatic selling of your notes?
Post by: PeerSocialLending on March 12, 2014, 03:01:45 PM
I know I'll probably get some kickback for this one, but I voted that it isn't important and I'll explain. Until I can download/print tax forms at the end of the year and simply ship them off to my accountant to be dealt with -  it doesn't make sense.  At this time, I don't want to track all of this in a spreadsheet. I already have to do plenty of work for my rental and this would further my headaches.  I'm happy with the returns I get with my current strategy.
Title: Re: How important is automatic selling of your notes?
Post by: BlueVestment on March 12, 2014, 03:25:54 PM
I know I'll probably get some kickback for this one, but I voted that it isn't important and I'll explain. Until I can download/print tax forms at the end of the year and simply ship them off to my accountant to be dealt with -  it doesn't make sense.  At this time, I don't want to track all of this in a spreadsheet. I already have to do plenty of work for my rental and this would further my headaches.  I'm happy with the returns I get with my current strategy.

I'm with you on the pain. Last year I liquidated some of my taxable Lending Club account in order to put a down payment on my home. I was not happy filling out that 1099-B.

Nathan
Title: Re: How important is automatic selling of your notes?
Post by: cnmor54 on March 12, 2014, 05:09:09 PM
I voted very important. I auto sell all my notes all the time. But I have a hard time paying attention to the late notes. I haven't seen it in action yet but I like the way BlueVestment has at risk notes decreasing in price over time. I don't have the patience to do that myself.

Oh and a big welcome to the forums  ;D
Title: Re: How important is automatic selling of your notes?
Post by: Fred on March 12, 2014, 06:21:40 PM
I only sell notes that I purchased from Folio, not notes from LC.
Title: Re: How important is automatic selling of your notes?
Post by: BlueVestment on March 12, 2014, 06:24:11 PM
I only sell notes that I purchased from Folio, not notes from LC.

Any particular reason why?
Title: Re: How important is automatic selling of your notes?
Post by: ggnoob1337 on March 12, 2014, 06:50:42 PM
I know I'll probably get some kickback for this one, but I voted that it isn't important and I'll explain. Until I can download/print tax forms at the end of the year and simply ship them off to my accountant to be dealt with -  it doesn't make sense.  At this time, I don't want to track all of this in a spreadsheet. I already have to do plenty of work for my rental and this would further my headaches.  I'm happy with the returns I get with my current strategy.

I'm with you on the pain. Last year I liquidated some of my taxable Lending Club account in order to put a down payment on my home. I was not happy filling out that 1099-B.

Nathan

I liquidated about $7,000 of taxable notes last year for a business investment. I was able to take my form from Folio and put that into Excel. I then did a convert from CSV to TXF (http://www.easytxf.com/) and imported that into the software version of TurboTax. Ended up making the process incredibly easy!

To me, automatically selling at risk notes has not yet been important. There's too many times I look at a late note and have a pretty good feeling they will go back to current. Most of the time they do. If the note looks like it won't, I'll list it for sale myself.

However, I do love Interest Radar's way of selling notes. I currently keep 100% of my current/issued notes for sale. Most are listed at an 8% markup and I sell a few a month. Ones with a credit score that has gone down are listed lower. Then I have notes that are duplicates between my 3 accounts listed even cheaper. However, they will all make me a profit if they sell, even after the 1% fee.
Title: Re: How important is automatic selling of your notes?
Post by: Fred on March 12, 2014, 09:26:09 PM
I only sell notes that I purchased from Folio, not notes from LC.

Any particular reason why?

Let's just say my note-picking algo for Folio is still rudimentary, while the one for LC one has been more time-tested.  I only buy discounted notes on Folio, and then sell them again at a slightly higher price.  Both the buy and sell are done automatically.

The big question (for me) is whether I should consider the risk metrics that I generated for LC note months ago for Folio note purchase now.  For example, how big of influence is, say, a $100K annual income at origination to a note that has become 40-day late on Folio today.  Need more time to analyze.
Title: Re: How important is automatic selling of your notes?
Post by: rawraw on March 13, 2014, 02:42:24 PM
I only sell notes that I purchased from Folio, not notes from LC.

Any particular reason why?

Let's just say my note-picking algo for Folio is still rudimentary, while the one for LC one has been more time-tested.  I only buy discounted notes on Folio, and then sell them again at a slightly higher price.  Both the buy and sell are done automatically.

The big question (for me) is whether I should consider the risk metrics that I generated for LC note months ago for Folio note purchase now.  For example, how big of influence is, say, a $100K annual income at origination to a note that has become 40-day late on Folio today.  Need more time to analyze.
You are a super human
Title: Re: How important is automatic selling of your notes?
Post by: thezfunk on April 14, 2014, 11:18:34 AM
Is this feature still working or working again?
Title: Re: How important is automatic selling of your notes?
Post by: BlueVestment on April 14, 2014, 11:19:37 AM
Not working at the moment. I'm about to release a new version of the website within about two weeks hopefully. After that, it's getting selling back working.