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Messages - EmilyFoxSeaton

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Investors - LC / Re: Low Risk Notes Experiment
« on: November 07, 2017, 07:10:35 PM »
So far this year I have been doing solid. I have a NAR of 8.6 and have mostly picked A-D loans.  About 2K investment.

I have had 8 notes go into grace or late. I sold 6 of them but realized I was losing money doing that because a lot would recover.  I also have a lot of fully paid. Fine by me.

There were probably about 10 that went into grace but then recovered.  I have tried all different things.
- random picking.
- buying older notes that didn't have a lot of time left.
- buying newer notes at a discount..
- finally my current trick, just buy notes with high salaries, low payments, zero deliquencies and a decent credit score. If I find a particularly promising note, I put more than $25 in. I try to buy debt consolidation or credit card refinancing. I don't like "other" as a category.

I have been in a year and I have zero charge offs. And only one now that is over 30 days late.

Investors - LC / Re: Discontinuing F and G grade Notes
« on: November 07, 2017, 06:59:48 PM »
Interesting. I never invest in them anyway. I guess maybe the scammers figured out they could get money from LC and then just not pay.

Investors - LC / Re: Notes in Grace period
« on: October 21, 2017, 03:01:47 PM »
I can't say that is usual.  But so far I have been lucky.

Investors - LC / Re: Notes in Grace period
« on: October 21, 2017, 01:55:37 PM »
So far all of mine 17 notes have got from "Grace period" to back in repayment status.  Been in since January.

Introductions / Re: Young Investor Wants Advice
« on: October 18, 2017, 06:26:38 PM »
That's interesting. I've heard of REITs and I might look into those more. Do you use some sort of trading app or website to trade them?

I used vanguard but there are many sites with deals right now. Some sites that cost zero money such as Robin hood. Also some are completely free. I have two REITS via computer share and Wells Fargo Shareholder. They let you buy with a small fee so you don't need to get a "buy stock account."

Do you mean Lending Club is hard to get out, in that it's hard to actually withdraw your money? All I'd be using is play money, essentially, but I am worried about losing everything in a P2P system.

Had to withdraw. Your term is 36 months. I don't you would lose everything. Lending club still has all the things available to it that any creditor does to get money from those who promised it.

Why not 2K in REITS,
1500K in Lending Club
1500K in a high interest yield savings account. (via an online bank).

Introductions / Re: Young Investor Wants Advice
« on: October 18, 2017, 05:46:59 AM »
To me the stock market is easy. Invest and hold. It will go up.  I purchase REITs. They have high dividend yields.  And are for the most part very stable stocks to even sometimes growth.

I don't recommend Lending Club for anything but play money. First it is hard to get out, and second, the returns are subject to defaults which, seem to be increasing.  But my LC returns is 8%, but I use it carefully and hand pick the notes.

If you are young I would doubt you could use Realty Mogul (as it requires an accredited investor). You could try "ground floor" which is open to non accredited investors or Peer Street. 

but use money to reinvest only in seasoned loans on folio with less than 15 payments left. I even bought a couple with less than 5 payments.

I did a project earlier in the year buying only loans with less than 15 payments and it was just as big a grace period rate as the regular loans. So far all recovered. I purchased on the theory that these people would pay off the loan if they had already paid into it but it seems like that doesn't work and they just get lazy about paying at all.

General Discussion / Re: Groundfloor Annoucement
« on: September 13, 2017, 06:08:55 AM »
So in a later e-mail to me yesterday they did throw out the idea of loans with monthly interest.

Today we are announcing our partnership with Direct Access Capital (DAC). This is an important development for Groundfloor and real estate investors across the country.

This new partnership has more to offer investors like you than meets the eye. For one, it creates more capacity for us to serve more borrowers. We now have a fresh $100 million to lend for the purchase and renovation of single-family houses in the 24 states in which we operate.

Welcoming our first institutional investor also enables us to offer a greater variety of investment products over time. For example, soon we’ll begin offering monthly payment loans for retail investor participation alongside our traditional balloon payment product.

As a result of this partnership, Groundfloor will gain the financial strength to improve and expand our infrastructure and reach. Our wherewithal to open access for the benefit of individual investors like you grows stronger today.

We’re excited to share this news with you. Read more about it here in our latest blog post. We have many other significant developments in the works as well and will be sharing even more good news soon.  Stay tuned.

We also have several new loans dropping this week, from 14.5%, so make sure your account is funded and ready to go.

General Discussion / Re: Groundfloor Annoucement
« on: September 12, 2017, 08:11:58 PM »
Gold star to Fred.

Ahh snoozer of an announcement. I truly don't care how they get my investments just get them and have them be good.

General Discussion / Groundfloor Annoucement
« on: September 10, 2017, 09:27:20 AM »
I got an e-mail from the CEO promising a big announcement on September 12th. What do we think that is?

I am much more bullish on them at the moment.  I have had a ton of homes pay off this month including one that was in default. I now have invested in about 60 properties. And 21 of them have been paid back in full. That was about 1000 dollars as an investment and I got $50 in interest. That is not as good as Lending Club. For my 2000 dollar investment there... I have gotten about $150 dollars in interest.  This is all since January 2017.

The issue seems to be that Groundfloor investments do pay off early a lot. If I immediately reinvest I am all set but, at the moment, they have nothing to reinvest in.

They also announced that they are limiting the amount of money any one investor can put in. I think that makes some sense. But do wonder if it will cause the properties not to be funded quickly.

I agree that House flippers were a problem and as a ground floor investor I often cringe at the shoddy jobs the flippers do and the insane prices they price the houses at, but I have some first hand experience with some of the loans during that time and it was seriously, insane lending practices. Giving a 400,000 mortgage to someone who makes 18K per year. 

I suspect now that there are regulations in place that make things more reasonable. And truth... some of the properties that the GF people list that are junk, usually get reduced.

For my money the prime bubble instigators remain money from foreign interests such as china. When new housing gets built it is invariably insanely priced. Forcing real people into bad decisions just to have a roof over their heads.  It is my hope that crowdfunding investors can blunt this trend but the influence of new housing into markets that creates competition and reasonable housing.

As I mentioned in my comment these reviews are only of accredited investor sites. Investor Junkie has tons of reviews for these sites which are off limits to most investors. Please review the non accredited sites or.. find someone to review them for Investor Junkie.

Investors - LC / Re: Borrower Fraud
« on: August 20, 2017, 01:45:41 PM »
If no payment was made on the loan, you may want to reach out to LC customer support and claim loan was fraudulent. LC might decide to investigate further and potentially refund lenders.

Yes actually I believe this is illegal. So if Lending Club wanted to bring it to the authorities... they could.  Especially if this is happening often. I am concerned that these people who are getting these loans are using identity fraud.

Also though, are you sure this is someone not paying? Could it be a technical issue? Like they set up a payment to come out of an account that they closed and it was a mistake?

General P2P Lending Discussion / Re: Roofstock
« on: August 10, 2017, 08:35:17 AM »
I too have some MAA and AVB. Seems a whole lot easier than owning property.

I think it is.  When I was a landlord I cleared about $450 per month. But the money sunk into that investment was 100K.  You can match that with a good dividend REIT. The tax treatment might be different but it is worth it for the lack of hassle.

Investing - General (not P2P) / Re: High Yield Savings
« on: August 09, 2017, 05:51:03 AM »
I second, that is a great site. PenFed Federal Credit Union put out 3.1% 5-year CDs in 2013 for a brief time and I found out about it there and snapped some up. The deal only lasted about one or two months. I check that site at least once a week for the best CD rates. Currently, I'm getting 2.6% at Mountain America Credit Union NCUA insured on 5-year term deposits.

I didn't find it there but I found a 3 % rate at Hanscom Federal Credit Union (of which I am a member and federal employee). CU Thrive only allows you to deposit $500 per month and only for a year but I will take it. 

I do think interest rates will be coming up. Not a whole lot but I think we could be seeing more and more 3%s soon.

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