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Messages - .Ryan.

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Off Topic / Re: Cash Parking
« on: July 01, 2020, 10:37:26 PM »
Cheap money is good and all, but there are drawbacks as well (including what we are seeing with savings rates) that I feel like no one really wants to acknowledge.

I anticipate the ride back up to normal rates + less overspending could be very painful.

General Discussion / Re: The best market to invest?
« on: June 25, 2020, 03:50:50 PM »
Weekly fabricated conversation to throw up another link to realtybundles.

Investors - LC / Re: What is the lifecycle of a "hardship" loan?
« on: June 24, 2020, 12:17:37 PM »
Can't wait to see the NAR drop like a rock now that the first wave of hardship loans will be going through the formal delinquency accounting process.

Always found it odd that they were not counted as such in the first place.

Investors - LC / Re: Returns during Covid-19 Economy
« on: April 29, 2020, 12:15:17 PM »
I'm glad I started this post. The uptick seemed to defy all logic.

So I downloaded the extended notes list. To see the discrepancy in my notes, should I filter to show only "current" and then sort by 'last payment date' (column BW)? Anything longer than 30 days means something's up, right?


Investors - LC / Returns during Covid-19 Economy
« on: April 26, 2020, 11:41:18 AM »
I have a small LC account (IRA) that is still active. I track performance closely, and was expecting a significant decrease in returns with the current state of the economy.

Surprising to see, however my returns have actually slightly increased over the last two months. From 7.4 at the beginning of the year to about 7.7 now. Knock on wood.......

Curious to hear how others returns are currently faring......

Investors - LC / Re: Worst Month Yet
« on: January 24, 2020, 05:45:02 PM »
This for others following us out the LC door. I tried to be very careful when closing my Trad IRA LC account. I moved all my cash, as it was at the time I had no active notes, from LC to STRATA. Then I directed Fidelity to initiate a trustee-to-trustee transfer of all the cash in the STRATA account to them. It was only AFTER this transfer had been executed and all that money was in my Fidelity account that I submitted the LC form to close my account. I did not want a distribution of any significant money from LC/STRATA upon account closure. You no doubt did the same. IIRC STRATA charged me $150 to close the account.

My LC final account at time of closure a couple of days ago was about $15. If I read the account closure form I submitted correctly I ceeded any future recoveries to LC so I'm not expecting anything. It would be great if they sent me distributions from collections but I don't expect it.

My IRA account is my last active LC account. You just answered so many questions of mine. THANK YOU!

I feel like I am going to be the last one out the door......

Off Topic / Re: Cash Parking
« on: January 24, 2020, 10:15:39 AM »
I buy most of my treasuries at TD Ameritrade.  I don't understand what you mean when you say "kludgy way you have to login".  What does that mean?  You type a username and password.  This is the same way I login at any broker.  I find the TD Ameritrade web site pretty straightforward.  You can also buy via a phone call if that suits you.

I believe in this context TD is referring to TreasuryDirect, and not TD Ameritrade.

Investors - LC / Re: What Returns Do You Expect Going Forward?
« on: January 10, 2020, 10:18:37 AM »
The reason why returns are so low, is because people are ok with it.

Absolutely spot on. I have long felt this way.

Since LC still receives the retail based funding they need even though returns continue to diminish, there is little incentive for them to implement change to benefit the investor.

Investors - LC / Re: Investing with MyConstant
« on: January 08, 2020, 10:49:51 AM »
I don't have investing experience with MyConstant, however it just takes a bit of research to make me uncomfortable with the concept.

It sounds like to me as a lender you are just loaning to crypto speculators.

Unlike LC though, it does not have bad Notes/Loans. This is from my personal experience from being with them since September.
Really.......? Really?

What Anil wrote may sound harsh to some. Doesn't make him wrong. ;)

I have similar returns on my the only account that I am actively investing in (a small IRA).

Question for you Fred.... Have you noticed a sharp decline in the number of notes that match your criteria? My IRA is worth ~$12k in total, and my available cash is about double of the historical average has been. I'm wondering if I could find enough notes to keep a larger investment going.

Investors - LC / Re: So Done.
« on: October 23, 2019, 12:34:21 AM »
There were several things that bothered me with LC/P when I was actively investing with these platforms, but I encountered the worst when I decided to stop investing: the liquidity (or lack thereof).

My only advice to those still investing is to consider how challenging it is to get out of this investment when you do make that decision. Right now your options are a fire sale on the secondary (assuming you're not on P), or waiting the 3-5 years for your notes to cycle through.

Outside of a small IRA, I decided to withdraw from LC/P investments a couple years ago. I am glad I made that decision when I did. After experiencing the lengthy withdrawal process like I currently am, I wouldn't want to have waited for a downturn in the economy to prompt me to do so.

It's been a long time since I watched Bowfinger.

Investors - LC / Re: Worst Month Yet
« on: July 30, 2019, 10:06:54 AM »
Sad to see everyone preparing to leave. It's been a fun ride

This is honestly the part I will miss the most.

After returns started to accelerate their slide to an unacceptable rate a couple of years ago, I made the hard decision to pull the plug on my main LC & P accounts. Going through the painful, drawn out process of liquidating my accounts (takes YEARS) only makes me feel better about the timing of my decision.

But I will miss you guys. I'll miss the comradery, the mentoring, and most of all, the journey.

Investors - LC / Re: LC loan quality shift April 2019
« on: July 18, 2019, 09:51:59 AM »
I thought things were getting better in terms of quality loan availability, but now I see cash piling up again. What are you seeing Fred93?

Investors - LC / Re: LC loan quality shift April 2019
« on: June 04, 2019, 06:27:30 PM »
In my IRA my 2018 idle cash average was $73. In 2019, my average is $175. Something is very different.

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