Author Topic: Groundfloor  (Read 7509 times)

jheizer

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Re: Groundfloor
« Reply #15 on: August 01, 2017, 09:22:51 AM »
Well they are quoting Annualized returns everywhere on their site right?  And there's no fees from our end for them paying off early.  Just if the cash sits at all waiting for the next loan to come up.  "10%" over a shorter period is better than a default IMO.  I started about the same time as you but I must have been just too late and missed the loan that is in default as none of mine are yet.
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Fred93

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Re: Groundfloor
« Reply #16 on: August 01, 2017, 04:27:13 PM »
So far I am disappointed in Groundfloor. I invested in them starting in January. $50 per loan.  In pretty much every loan they had. Of about 70 loans so far, 20 have paid off early. Despite their site saying I got 10% I got about 3% due to the short term.  This drastically reduces my return.

Learn to think in terms of ANNUALIZED returns.  Otherwise you will continue to be confused.

EmilyFoxSeaton

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Re: Groundfloor
« Reply #17 on: August 01, 2017, 07:21:12 PM »
Learn to think in terms of ANNUALIZED returns.  Otherwise you will continue to be confused.

Still isn't much bang for the buck. Had I put that money into Lending Club I would have done much better. And I still don't know how many in that mix are going to default. It is possible it could be a good investment in the long term.. but I have a bad feeling.

Have you seen the negative comments on the blog? They talk about transparency but it seems they may have several loans in default and are just not calling it as final.

 
Quote
I started about the same time as you but I must have been just too late and missed the loan that is in default as none of mine are yet.

Mine was an apartment complex thing in Georgia. Like a multi family. At one point we got notification that a stop work order had issued and since the work couldn't be continued, the loan was was in default, but I assumed they would just fix the problem. Now, we get notice that he is shopping around for buyers. But the loan remains in default. Seems that he cannot or will not fix the problem and would prefer to sell his headache to someone else. It had an A grade. It is possible it could work out but the due date on the loan is in October.  I say seems because my updates are vague and seem to make little sense.