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Liquid P2P / Re: Mintos P2P lending platform
« Last post by True on May 25, 2020, 08:39:58 AM »
Thank you. I am an investor too. So far I rely on RevenueLand for Mintos review and peer to peer investing in general. Info are mostly updated and there are many indications on how to setup Mintos in a safe way.
Introductions / Re: Hello
« Last post by riskov on May 25, 2020, 05:07:55 AM »
The question is better put so, which groups of mortgage borrowers will not lose their jobs and will be able to make payments (for example, employees of medical companies, state employees, employees of food manufacturers, etc. are in a more stable position)
Off Topic / Re: How to write interesting texts?
« Last post by riskov on May 25, 2020, 04:58:26 AM »
An interesting text is, for example, a step-by-step success or failure story with a description of the steps that were taken. Plus, everyone likes it when the secrets or secrets of their success are revealed.
Investors - LC / Slow exit strategy
« Last post by rj2 on May 19, 2020, 01:24:58 PM »
About a year ago I decided to exit LC, and to take two years to do it. The idea was to end up with cash in my account that I could transfer out in one shot without having to sell at a steep discount. My LC account is an IRA so I only wanted to do the transfer once and not repeatedly.

So I stopped buying new notes, and only bought on folio, and specifically, I only bought notes with a maturity date on or before my exit date.

On the first day that meant I only bought notes with 24 months or less left. I had other filters, mainly a high enough credit score and a credit score that had gone up, and a few other things. But the main filter was 24 or fewer remaining payments.

And in the second month, that became 23. Then 22, 21, etc.

Simultaneously I went though and identified every loan with more than 24 payments left and moved them to a new portfolio called "over 24. I put them all up for sale continuously, but not at a discount. At a small premium. With 24 months to sell I figured I didn't need to take a loss, and every month I sold a few, reinvesting the proceeds in notes maturing ahead of my exit date.

Sometimes cash would pile up in my account for a few weeks and then I guess someone would dump a bunch of notes and I'd find enough to buy to stay fully invested. The rate at which I had to reinvest also accelerated as the shorter and shorter duration meant payments became a larger share of my capital.

I realized at some point I would not find enough to buy as the duration became very low and the incoming payments high--I was ok with that, it's an exit strategy. I figured that would happen at maybe 6 to 8 months left, where I'd just lose the ability to reinvest for lack of available inventory fitting my timeline.

I was at the point of buying only notes with 13 or fewer remaining payments when COVID-19 brought a halt to my strategy. There's nothing much available for sale that meets my criteria now and way too much risk. I got burned buying a few "hardship" loans without realizing it and so I'm done with buying now.

I have a handful of notes left over my target date, that I'm now having to discount slightly to sell, and my goal is to sell them over the next year, but that's less than 20 notes out of a portfolio with ordinary hundreds of notes, so I'm almost there.

So now I'm just going to let it run out and accept that I'm not going to be able to reinvest for the final 12 months, but on the flip side, I'm getting more than 1/12th of my investment out of notes into cash every month now just by collecting payments. I'm not reinvesting it, I'll live with that--I see it as rapidly reducing my risk.

Although, I've got 10% or so of my loans in "hardship" status, so I'm expecting to take a bath on that, and likely more will sour.
There are difficult times now. I know that there are people who are thinking about where to invest during COVID. I want to share the article that can be useful for those people. I hope it will!
Here is this article:
Foliofn - LC / Re: Goldman to buy Folio
« Last post by Rob L on May 16, 2020, 06:22:19 PM »
FWIW in comparison LC's current market cap is $378M and its book value is about $800M.
Total cash is $308M or $4.41 per share. Shares closed Friday at $5.41.
Short interest is 8.7% of the float. Is Mr. Chen still a buyer?
General Discussion / Re: RealtyShares annual summary issues?
« Last post by lucasmartin on May 16, 2020, 12:39:30 PM »
RealtyShares announced that they were unable to accept new investors and would not be able to secure new VC funding and would stop offering new deals. The reason behind the closure of RealtyShares is that they were unable to secure additional capital, as a result, they had to shut down the company and they fired most of their staff.
Foliofn - LC / Re: Goldman to buy Folio
« Last post by AnilG on May 15, 2020, 09:08:06 PM »
What surprised me more is the acquisition price which most likely is less than 500M I expected Folio to be worth much more than 500M required for disclosure of purchase price.
Foliofn - LC / Re: Goldman to buy Folio
« Last post by Rob L on May 15, 2020, 10:34:30 AM »
I wonder how much of Folio's revenue and income result from the trading platform used for LC notes (and similar assets of other companies Prosper before it ended its relationship with Folio)? If it's a small and only modestly profitable part of the business Goldman could take it internal for its products only or possibly kill it. Given Marcus it's kinda hard to imaging GS providing trading services for LC notes.

Yes, I agree LC probably couldn't care less.
Foliofn - LC / Re: Goldman to buy Folio
« Last post by Fred93 on May 15, 2020, 12:52:40 AM »
Wow.  Makes folio instantly "legit" in the eyes of many folks.  ...which sounds good for LC investors.

On the other hand, Marcus is a direct challenge to LC's business, which makes one wonder whether LC can trust GS as a partner.

But LC cares so little for the retail investor these days that they probably no longer care whether folio is a good partner or a bad partner.

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