Author Topic: I don't think IR is fast enough to snatch the best notes.  (Read 4149 times)

TonySaunders

  • Full Member
  • ***
  • Posts: 194
    • View Profile
I don't think IR is fast enough to snatch the best notes.
« on: August 01, 2013, 05:25:37 PM »
I'm trying out IR for the first time today because I'm looking for a way to better compete for loans that are snatched up in about 30 seconds. From what I've seen so far, I don't think IR succeeds at this, instead it's just picking up the best of the leftovers.

It's hard to verify because the best loans are gone so quickly. What kind of results are the rest of you getting?

Lucky for me, I'm a software development engineer, but I don't want to have to write my own tool for this. None of us can have it all but I think we all ought to have a chance to get our fair share.

p2p2p2p2p

  • Newbie
  • *
  • Posts: 28
    • View Profile
Re: I don't think IR is fast enough to snatch the best notes.
« Reply #1 on: August 01, 2013, 06:42:48 PM »
Beginning of the month (today) is when Lending Club Advisors puts its clients fresh money to work. Im not sure but I think LC Advisors and LC use the same servers. I don't think you can frontrun them no matter what you do

TonySaunders

  • Full Member
  • ***
  • Posts: 194
    • View Profile
Re: I don't think IR is fast enough to snatch the best notes.
« Reply #2 on: August 01, 2013, 06:59:29 PM »
It's not so fast that I can't do it manually. I have 30 seconds. If there are additional notes that are gone so quickly that I don't even get to see them, then it's worse than I even thought.

New Jersey Guy

  • Hero Member
  • *****
  • Posts: 914
  • Hell Yea it's a Hemi!
    • View Profile
    • Email
Re: I don't think IR is fast enough to snatch the best notes.
« Reply #3 on: August 01, 2013, 07:06:11 PM »
"If there are additional notes that are gone so quickly that I don't even get to see them, then it's worse than I even thought."

I'm Folio only, but from what I've been reading, it is worse than you thought.

You need to read some of the other threads going on right now about that topic.

Makes me happy I don't have to contend with it.
Return over deposits:   66.82%
IRR:   86.54%
As of April 30, 2014

viking

  • Sr. Member
  • ****
  • Posts: 370
    • View Profile
    • Email
Re: I don't think IR is fast enough to snatch the best notes.
« Reply #4 on: August 01, 2013, 07:54:22 PM »
"If there are additional notes that are gone so quickly that I don't even get to see them, then it's worse than I even thought."
Makes me happy I don't have to contend with it.
....and me longing for the early days 2008/2009 when the notes were not even fully funded (and I had no idea what notes to buy - not to say that I am that much wiser today though  ::))

Randawl

  • Sr. Member
  • ****
  • Posts: 469
    • View Profile
Re: I don't think IR is fast enough to snatch the best notes.
« Reply #5 on: August 01, 2013, 09:18:12 PM »
....and me longing for the early days 2008/2009 when the notes were not even fully funded (and I had no idea what notes to buy - not to say that I am that much wiser today though  ::))

Remember sorting by notes that were almost fully funded to avoid cash lag because many notes would take a week or two to fully fund, or ever fund at all?!?

It's a laughable thought now, and it wasn't even that long ago!   :o

viking

  • Sr. Member
  • ****
  • Posts: 370
    • View Profile
    • Email
Re: I don't think IR is fast enough to snatch the best notes.
« Reply #6 on: August 01, 2013, 10:24:11 PM »
....and me longing for the early days 2008/2009 when the notes were not even fully funded (and I had no idea what notes to buy - not to say that I am that much wiser today though  ::))
Remember sorting by notes that were almost fully funded to avoid cash lag because many notes would take a week or two to fully fund, or ever fund at all?!?
Yup, did that as well; I didn't want to risk that the loan didn't get fully funded and therefore cancelled so I only put in money in loans that were almost fully funded.
...and all the fun by having back-and-forth communications with the borrowers... Ah, nostalgia, sob  :'( !
The new lenders don't know what they are missing!

J2E

  • Jr. Member
  • **
  • Posts: 79
    • View Profile
    • Email
Re: I don't think IR is fast enough to snatch the best notes.
« Reply #7 on: August 02, 2013, 09:10:54 PM »
....and me longing for the early days 2008/2009 when the notes were not even fully funded (and I had no idea what notes to buy - not to say that I am that much wiser today though  ::))

Remember sorting by notes that were almost fully funded to avoid cash lag because many notes would take a week or two to fully fund, or ever fund at all?!?

It's a laughable thought now, and it wasn't even that long ago!   :o

I did this when I first started and I'm at 15% loss rate for those notes and I'm -1.96% return on them as well.  Figure most of the bad ones have gone sour by now, so I've held on to the rest.

Randawl

  • Sr. Member
  • ****
  • Posts: 469
    • View Profile
Re: I don't think IR is fast enough to snatch the best notes.
« Reply #8 on: August 02, 2013, 09:21:18 PM »
....and me longing for the early days 2008/2009 when the notes were not even fully funded (and I had no idea what notes to buy - not to say that I am that much wiser today though  ::))

Remember sorting by notes that were almost fully funded to avoid cash lag because many notes would take a week or two to fully fund, or ever fund at all?!?

It's a laughable thought now, and it wasn't even that long ago!   :o

I did this when I first started and I'm at 15% loss rate for those notes and I'm -1.96% return on them as well.  Figure most of the bad ones have gone sour by now, so I've held on to the rest.

Ouch.  Did you do this with no filters applied or something?

rawraw

  • Hero Member
  • *****
  • Posts: 2768
    • View Profile
Re: I don't think IR is fast enough to snatch the best notes.
« Reply #9 on: August 03, 2013, 03:54:43 PM »
My old school notes did well -- but I'm a conservative investor in the B/C range.  I miss the "zero fee" loans.