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Messages - SkaXc0re77

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1
Investors - LC / my accountant
« on: March 02, 2014, 10:47:52 AM »
So I just went to my accountant last night and after he looked at my LC info...

he said "next time I want to go on the internet  - stick to porn"

I had to share that

Side note - I am working on my Masters in Accounting and as a test run I did my own for the first time just to see what I got..  I was w/in $100 of my accountant!  Nerdiest (and best) thing to happen all week :-P

2
Investors - LC / Re: charge offs + folio
« on: February 19, 2014, 03:20:19 PM »
you might of sold one but i promise you I bought it for $1.35 on Friday the 14th... and since monday was a holiday it posted on tuesday (and charged off)

3
theres a personal returns chart? for my own stats?

4
Investors - LC / Re: charge offs + folio
« on: February 19, 2014, 10:52:18 AM »
https://www.lendingclub.com/foliofn/loanPerf.action?loan_id=1325060&order_id=17387715&note_id=11196072

Looked liked a solid "I pay late all the time and I made the effort to contact you myself instead of answering when you called" $1.35 investment :-P

Was Late 31-120 (not default) and did not go bankrupt - just timed out I guess.

Like I said charged off yesterday and posted to my account (not sure the order but I have a gut feeling that they knew it was charged off prior to it posting at 8 oclock at night).

5
Investors - LC / Re: charge offs + folio
« on: February 19, 2014, 09:18:56 AM »
trying again  :-P

If a processing payment kills a folio purchase/sale (even tho it processes for 4 days w/out any hint of success)...

Why would it let a KNOWN Charge off go through the same day it charges off?

I bought a note on the 14th... it processes for a weekend (and the holiday) and yesterday it went through - and was charged off?!

(Sorry - a little hung over, very very tired makes for rambling incoherent posts)

6
Investors - LC / charge offs + folio
« on: February 19, 2014, 07:55:49 AM »
so payments don't go through for 4 days yet the day the payment starts the note delist's for what ever reason (xdividend date sorta) that being said you sell the dang thing on a friday and since monday's a holiday, w/ tuesday as the pay day (normally youd be ok but this week the buy/sell dies - yay!)....

So why the heck do I buy a note on the 14th - wait 4 days for it to pend just for it to go charge off on the 18th THEN post to my account?!

My fault for not looking at the days since last payment - but still.. shouldn't the concept be the same?  Big change the same day as payment?

7
Off Topic / CC Question
« on: February 14, 2014, 04:46:24 PM »
Alright so I have the Capital One 1.5% cash back card and the 12 months of no interest is about to expire this paycycle.

I was doing really well not carrying a balance (when I had a full time job) but now that I am persuing my masters and working part time I am spending more then I am pulling in. (Damn text books cost way too much)

I plan to pay off the balance via my savings prior to the interest kicking in however I don't want to PIF every month depleting my savings.

Smart move to open a new card and chase the 0% year while I can't afford to PIF each month?  Shouldn't really hurt my credit opening a line after a year?

8
Investors - LC / Re: Loan Paid Off - Scammed out of 2.7%!
« on: February 14, 2014, 04:38:31 PM »
I lost money on 2 loans that were paid off early.  Both loans were paid off before I purchased them.   However, due to slow accounting of LC, the purchased went through several days before full paid-off going through the system.

thats rediculous....

9
Foliofn - LC / how do you discount?
« on: February 14, 2014, 03:43:52 PM »
Im trying something new - Flipping distressed notes for $$$

Only been doing it for a week and made some good returns but I have one question:

Whats the best way to drop prices?

When you set your price do you leave it for the week till it times out or reduce it a bit every day?

I figure every day makes more sense since every day it adds interest making your (Discount %) look worse right?

10
Investors - LC / Re: Folio Returns Measure
« on: February 13, 2014, 07:25:55 PM »
Quote
True, if you have nothing better to do with your time, then by all means

I got to spend 45 mins just now making an awesome color coded excel sheet to track my adventure!

3 successful flips so far (longest I held 10 days from settling in to settling out) resulting in 806.97% NAR and 11.76% straight ROI for a whopping $2.16 in gains!

expectations managed (yet still really excited)


11
Investors - LC / Re: Folio Returns Measure
« on: February 13, 2014, 08:48:39 AM »
IDK - I mean if I am on the internet Im reading cracked.com articles or random wiki's about outerspace planning that inevitable vacation to the moon.  Putzing around on Folio is less time than that and even 67 cents is more income then 0.

I agree.  Unless you were really going to spend that time working on something else, you're still coming out ahead.  Until you have to pay a CPA $500 to handle your taxes and deal with a 600 page 1099-B.  I'm guessing those guys cost even more on the moon so save yer pennies.



Good thing I have 2 semesters left for my Accountancy Masters :-P

I did my own taxes this year and Im ganna pay my accountant to see if I was close and if so.. I am on my own from now on haha

First ever Interstellar CPA at your service, hit me up if your ever near Saturn
Now, add up all that time and divide your profit by it. Tell me how many dollars per hour you made. Still worth your time? What is the real income threshold (dollars per hour) that would make you willing to sacrifice putting in overtime at your job, taking up a part-time job at McDonalds, or even just spending time with your friends and family?

I've said it before; folio trading is not an easy game. Especially when you consider the money you earn versus the time it took you to earn it.

Even with this passive strategy I do find LC takes more time than I expected since a number of notes are never actually issued and I have to choose again up to 3 weeks later...

automate - prime or bluevestment or what have you

I do it cause its a hobby that makes me dollars and at the time I was scared of the stock market.  Now I do both because lucrative hobbies are better then needlepoint

When my total portfolio is more then $100k maybe I wont want to be hands on, on EVERY item but for now I only have less than $30k, 15 of which is passive in a Mutual Fund IRA.  Im only actively playing w/ 15k

Ironically, I hate gambling at casino's HAHA

12
Investors - LC / Re: 2013 Consolidated 1099s Available!
« on: February 13, 2014, 08:18:39 AM »
(Who runs around trading 20 shares of a low dollar stock?) 

20 ANGI - Angi's List -up $41.60 (17.10 a sahre)
17 CODI - Down 12.75 (18.13)
15 DDD - Had 30 and sold off some during the crazy gains - still up 154.13 (but its 67 a share so not "low  $"
13 DIS - Up 121.94 (same deal - 78 a share)

and more in that under 20 mark :-P

I have 17 positions, 9 are 20 and under, one is 25, only 2 are over 100

Maybe I'm doing it wrong?

13
Investors - LC / Re: Folio Returns Measure
« on: February 13, 2014, 08:11:20 AM »

Now, add up all that time and divide your profit by it. Tell me how many dollars per hour you made. Still worth your time? What is the real income threshold (dollars per hour) that would make you willing to sacrifice putting in overtime at your job, taking up a part-time job at McDonalds, or even just spending time with your friends and family?

I've said it before; folio trading is not an easy game. Especially when you consider the money you earn versus the time it took you to earn it.

IDK - I mean if I am on the internet Im reading cracked.com articles or random wiki's about outerspace planning that inevitable vacation to the moon.  Putzing around on Folio is less time than that and even 67 cents is more income then 0.

14
Investors - LC / Re: Folio Returns Measure
« on: February 12, 2014, 06:45:49 PM »
$38.28/$3.40 = 1125.95% yearly return?!

If you can continuously repeat your "6-day 18.51% ROI" cycle 60 times in a year.

Ya I am sure I wont .. but if I mess w/ this more then new notes and do decently well then my paltry 12% last year could be 15+

Worst case I get some loss write offs when $4 investments go charged off

I just bought a $100 note for $2 late 30-120 days .  $2.50 gets me a straight 23% ROI, 1400% yearly... theres gatta be a someone out there to buy garbage for $2.50
Its all small change but my account isn't all that large to begin w/ and its WAYYY more fun then selecting 1 note every 4 days and waiting over a week for it to fund/process

15
Investors - LC / Folio Returns Measure
« on: February 12, 2014, 04:55:03 PM »
so i bought a distressed note for $3.40 on Folio and it cleared on the Monday the 10th, so lets say I bought it on friday the 7th.

I sold it today for $4.07 and it should clear tomorrow the 13th.  6 days.

So what was my % return?

$4.07(.99) = $4.0293 (after fee payment)
4.0293 - 3.40 = $.6293 gain
$.6293/$3.40 = 18.51% ROI

But that's not yearly, which is how we all measure our investments... soo

.6293/6 days = $.1049 daily gain
.1049*365 = $38.28 extrapolated yearly gain
$38.28/$3.40 = 1125.95% yearly return?!

Is this why you all mess w/ Folio so dang much?!


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