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Topics - EmilyFoxSeaton

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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.

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Investing - General (not P2P) / High Yield Savings
« on: August 08, 2017, 05:57:43 AM »
I have an account with Synchrony Bank. It is actually doing pretty decently. The interest rate has gone up 2 times since I got it and given how safe my investment is... I have made more than Lending Club and Groundfloor. Though obviously I have put in more money.  Some of the CDs are offering 1.55 % which is more than I have seen in a while. Anyone else ?

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Investors - LC / Strategy of buying grace period notes
« on: August 05, 2017, 07:54:48 AM »
Anyone done this? Apparently most of the in grace period notes will not default. So I have been looking at them on Folio and buying them.

1. Usually I buy a note with 10 payments or less left.  I am guessing they won't want to incur a hit to their credit for 10 payments.
2. The cost of the note is so little that if it defaults.. it doesn't hurt too bad.  Usually under $5.00.
3. Sometimes you can see right in the history that there is a problem with the mechanism of payment not necessarily that they don't have the money.  Payment bounced back / non sufficient funds.
4. You can actually find some grace period notes with high credit scores and high income. I can't say for sure if they won't default but, it seems unlikely.
5.Usually this discount is like 30% or more. This makes for quite the profit if the person does not default.

Thoughts?

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General P2P Lending Discussion / Anyone use Upstart?
« on: August 02, 2017, 08:52:23 AM »
I only put in $500. 

The pros.
- so far no defaults though a couple of close calls
- You can fund it via your credit card. Great for converting credit card to cash.  And great for points.

The Cons.
- you are not allowed to control your notes. They do the investing for you.
- No liquidity. You can't sell your investments.

In the future I probably would use Lending Club.

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Investors - LC / Strategy of buying notes 1/2 way during their term
« on: August 01, 2017, 08:04:31 PM »
I have been buying notes that are 1/2 done off the folio site. So far so good. The thinking is that if you have paid 1/2 the loan you will pay the whole thing and also.. these notes are generally offered at a discount. So you buy a note that is worth more than you paid for it.  So far so good. Also, there is no wait time to "fund" a new loan. If one note pays in full.. the next day you just buy a new one.

Anyone do this? Thoughts?

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