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Messages - au88

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Investors - LC / Re: Ridiculous number of defaults, anyone else?
« on: February 13, 2018, 10:02:18 PM »
See the post "worst month yet".

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Investors - LC / Re: Worst Month Yet
« on: February 13, 2018, 10:01:39 PM »
I'm right there with you. Lost $819 on ~100k invested last month.

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Investors - LC / Re: Worst Month Yet
« on: January 13, 2018, 09:20:33 AM »
Yea don't forget that only 3k of your losses actually count as losses. If you're like me and earned 30k in interest but lost 33k to defaults then you'll be paying taxes on 27k of phantom earnings. Ridiculous.

4
General Discussion / Re: Downside for PeerStreet
« on: December 09, 2017, 08:30:12 AM »
If you start with a 75% LTV then you can afford a 25% drop with no loss.

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General Discussion / Re: GroundFloor equity offering
« on: December 09, 2017, 08:27:23 AM »
Investing in startups is risky, most fail. Still, I plan to do it as part of my broader strategy.

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Investors - LC / Re: Worst Month Yet
« on: October 07, 2017, 08:32:23 AM »
Yep, I am negative for the year now.

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General P2P Lending Discussion / Re: Anyone use Upstart?
« on: August 06, 2017, 09:44:20 PM »
I have been using it and my returns are pretty bad. Barely getting above 2% IRR.

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Investors - LC / Re: June seems to be a horrible month for me
« on: July 08, 2017, 11:02:20 PM »
Keep in mind the borrow default curve. If you stop reinvesting, then you stop getting interest from all of the new loans that probably haven't defaulted yet. The defaults keep rolling in though. June was also my worst month yet.

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General Discussion / Re: PeerStreet test drive
« on: July 08, 2017, 10:58:22 PM »
My stats: ~80k invested with ~2k earned in interest so far. What peer street doesn't tell you is that not all loans repay on time. For example, I currently have 5 loans that were suppose to mature. Some have had extensions granted and some have been taken over by Peer Street and are getting ready for sale. Personally I think GroundFloor is better for dipping your toes in, since the minimum commitment is $50.

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Investors - LC / Re: The identiy fraud repayment promise
« on: April 04, 2017, 08:11:35 AM »
The results are in. LC says I've had 3 notes (out of ~20000). They gave me the 3 loan ID numbers.

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Investors - LC / Re: The identiy fraud repayment promise
« on: April 01, 2017, 10:36:20 AM »
Long time reader, first time poster. I have had ~21000 notes in my account over its 8 year history. I've reached out to LC and will let you know what they say.

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