Recent Posts

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71
Investors - LC / Re: Review of my lending club account
« Last post by JDII on August 14, 2020, 01:43:28 PM »
Had some issues with my email and had to create a new account.  The previous thread is located:  https://forum.lendacademy.com/index.php/topic,4828.0.html

A lot of you guys on here were very kind answering my questions prior to me signing up with Lending Club.  I'll try to give an update monthly or so.

I started buying loans on 09-14-17 and I've been adding several to my account weekly.



Update as of 08.14.20

My annualized return on loans that have paid off is 9.46%.

My Notes at-a-Glance         864

Not Yet Issued                    4
Issued & Current                599
In Grace Period                   3
Fully Paid                           212
Late 16-30                         0
Late 31-120 Days               3
Default                               0
Charged Off                        41
Canceled                            2


Adjusted Net Annualized Return      9.03%
Net Annualized Return                   11.85%
Weighted Average Age of Portfolio  17.2 months

My notes by grade are:

A  23.20%
B  59.40%
C  12.80%
D  3.50%
E   1.10%


I've been using LC picks (see other threads in the forum about them if you are unfamiliar) in order to pick which loans to invest in. My LC picks ranking is 66.9/82.

Thanks again for all who helped out in the past.
72
Are you the author of that article?
73
General P2P Lending Discussion / First successful LexShare investment
« Last post by titlewealth on August 13, 2020, 10:08:43 AM »
Not sure how many here are invested in LexShare (litigation finance). Yesterday my first case closed successfully. Got a 10% return from a 6 months investment period. I am not sure if the risk is really worth it tho since you could go to $0.

Anyone else invested in Litigation Finance on LexShare or other platforms?
74
Introductions / Hello and portfolio tracking tools
« Last post by titlewealth on August 13, 2020, 10:06:34 AM »
Hello,

been a lurker for a while but finally decided to start an account. Great insights on the forums.

I am an investor in LendingClub, PeerStreet, Crowdsteert and others. Looking to connect with other investors and share investment tips, strategies and advice.

I am also working on a new tool Money Minx which is a net worth calculator and tracking tool. I've tried so many tools out there that just don't seem to get it right, so I decided to build my own.

Cheers!
75
Investors - LC / Re: Worst Month Yet
« Last post by rj2 on August 12, 2020, 11:54:44 PM »
Folio is dead.
I finished liquidating my Lending Club investment "under the wire" by 8 months using Folio sales.
I'm thankful that I got it done in time (and it was only a matter of time). Turns out it was a good time to invest in stocks.

I had started liquidating in a very slow way a year ago, stopped buying fresh notes and bought only on folio seasoned notes with X months left, starting with X=18 months and reducing it by 1 every month. At the same time I listed everything for sale that had more time than that left--at a small premium, idea being I had 18 months to sell it all.

When this hit I was only buying notes with 8 months left, and had slowly sold most of the older ones. But not all. So the last few days I listed everything over 6 months at a small discount and have managed to clear most of it out. The headache is a bunch of "hardship" notes that are mostly 9-10 months but there's a couple of longer ones in there, I think, one is 16 months or so. Can't even list those for sale because of their status..
76
Investors - LC / Re: Folio ending August 28th.
« Last post by storm on August 12, 2020, 03:47:37 AM »
Folio closing creates an issue for me. I don't know how I can exit from  LC without paying that annual fee.

My next annual fee is not for nearly 10 months, so it's a long way off, but, with folio closing whatever is going to happen is going to happen THIS month.

I have listed every note that had a maturity date later than my next annual fee, and they have been selling pretty well. There's only two particularly stubborn notes left with poor payment histories, I'm sure eventually I'll discount them enough someone will buy them. I hope... in the next week. The rest of my notes will all mature before the fee.

EXCEPT FOR the "hardship" notes that I can't sell. There are only a couple of them with maturity dates after my annual fee--but if even ONE note is left? Then my account doesn't close and I'm going to have to pony up $100/year or whatever it is until that final notes pays off? I'll be paying $100/year for the privilege of holding what will be by then $5 or $10 note.

There has to be a way out.

I've been reading past comments from investors who have already made their exit. When you call to close your account, you can either forfeit your leftover notes to LC (along with the remaining principle and interest) or transfer them to a taxable LC account. If you transfer them from a traditional (pre-tax) IRA, the IRS will tax the fair market value as income plus a 10% penalty if you are younger than 59 1/2. Then hope those borrowers get their act together. I already have a taxable account I'm letting die off naturally, so that may be the way I go.
77
Investors - LC / Re: Folio ending August 28th.
« Last post by rj2 on August 12, 2020, 01:51:32 AM »
Folio closing creates an issue for me. I don't know how I can exit from  LC without paying that annual fee.

My next annual fee is not for nearly 10 months, so it's a long way off, but, with folio closing whatever is going to happen is going to happen THIS month.

I have listed every note that had a maturity date later than my next annual fee, and they have been selling pretty well. There's only two particularly stubborn notes left with poor payment histories, I'm sure eventually I'll discount them enough someone will buy them. I hope... in the next week. The rest of my notes will all mature before the fee.

EXCEPT FOR the "hardship" notes that I can't sell. There are only a couple of them with maturity dates after my annual fee--but if even ONE note is left? Then my account doesn't close and I'm going to have to pony up $100/year or whatever it is until that final notes pays off? I'll be paying $100/year for the privilege of holding what will be by then $5 or $10 note.

There has to be a way out.
78
Investors - LC / Re: Folio ending August 28th.
« Last post by AnilG on August 10, 2020, 03:42:07 AM »
It is disappointing to see secondary market going away. Recently, I was looking into stats for FOLIO usage by PeerCube users. I was surprised to see PeerCube users placed 1 million orders. Service had captured almost 100,000 settled buy and sell orders. Hopefully, loan buying on LC primary platform increases so that I can continue to keep PeerCube running. Keeping my fingers crossed.

I learnt a lot from running the service as well as interacting with users on the forum and PeerCube. And, it got me interested into trading on financial markets.
79
Investing - General (not P2P) / Re: REITs vs Real Estate Crowdfunding
« Last post by jrl on August 10, 2020, 01:54:02 AM »
Are you precious metals allocation ETFs? That's one big gap in my portfolio. I wish there was a way to share an image on this portfolio, I could share my allocation image.

Nah, they're physical. Not part of any tax-advantaged account.

The premiums are crazy high right now as inventory/supply is low:

https://comparegoldprices.com/

https://comparesilverprices.com/

Even the buyback prices on some sites are higher than spot.

BTW - You can upload images to imgur.com and post the link to the image. That seems to work well enough.
80
Investors - LC / Re: Folio ending August 28th.
« Last post by dr.everett on August 09, 2020, 11:17:08 PM »
So glad I got out when I did a few years ago- was always worried that this would come to pass and I would be "rushed" to get out. LC was good back then, but now there are many better things to invest in, that are less work, less headache at tax time. etc. I wish everyone well that continues to stay with LC. I still check the forum from time to time to see what's going on, are things better, etc. (And to see if the decision I made a few years ago is still the right decision.) So far that answer is still a Yes.

Good luck all.
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