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Are the borrowers making accelerated payments? I've had notes where the borrower rounds up their payment to the nearest hundred bucks and such.
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Oct 24, 2014 19:44
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Eyes Only posted:Are the borrowers making accelerated payments? I've had notes where the borrower rounds up their payment to the nearest hundred bucks and such. That could be it, but in three years of tracking my notes, my spreadsheet has never been off by more than a couple of pennies, and now it's off by $1.00+. Also, I don't think that would apply to the borrowers who haven't made any payments yet at all. I had the thought that maybe they had started including the service fees in the calculations, so it is kind of a net/gross thing, but I have 1298 notes in my "open notes" portfolio, so the difference would be right around $12.98 if that were the case, right? I'm seriously baffled here. April fucked around with this message at 19:43 on Oct 25, 2014 |
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Oct 25, 2014 18:35
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It's taken 6 weeks from starting to roll in money to starting to see some return. I've only received a bit over $9 so it's not enough to buy another note yet. That will be the next milestone for the next 2-3 weeks. Of course I've had one note that was temporarily in arrears (for about 2 days), and another C grade note that has been in arrears for 4 days. I'm also likely to pass the 100 note milestone in the next week. I realised recently that each note provides cashflow. I can see cashflow increasing significantly as the compound interest effect allows buying more notes. Does that lead to significantly higher interest received over time?
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Nov 4, 2014 23:53
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Devian666 posted:I realised recently that each note provides cashflow. I can see cashflow increasing significantly as the compound interest effect allows buying more notes. Does that lead to significantly higher interest received over time? Well, yes. More notes generally provide more interest than fewer notes.
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Nov 5, 2014 04:53
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baquerd posted:Well, yes. More notes generally provide more interest than fewer notes. I can vouch for this. I have deposited enough over the years to pay for 852 notes, but I currently have 1314 open notes. My monthly interest when I had about 841 open notes (closest record I have to 852) was $181.84, and now it is $254.99. Obviously, this is not enough to retire on, but for me, it's been a difference of about a year. In my opinion, the compounding possibilities are astounding.
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Nov 5, 2014 13:56
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Thought you guys might find this interesting. Here's a graph of my monthly interest, total portfolio value, and cumulative contributions. The interest is calculated as end of month portfolio value minus beginning of month value minus contributions.  It's kind of been all over the map depending on how many defaults there have been and how much principle was remaining on those defaults. I just tossed in another $1,000 so hopefully that'll nudge the monthly interest up a bit. LC says I have a 10.81% net annualized return (9.62% adjusted for notes currently late). If I don't have any notes default in a month I think I would bring in about $70 in interest but you can see the average is more like $30-40/mo. Overall it's been a decent investment, definitely more time consuming than a similarly yielding junk bond fund but I personally enjoy it. It's not a huge percentage of my net worth and I don't intend to go above a 5% or so but I like the returns and like that it's another way to diversify.
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Nov 5, 2014 15:44
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April posted:I can vouch for this. I have deposited enough over the years to pay for 852 notes, but I currently have 1314 open notes. My monthly interest when I had about 841 open notes (closest record I have to 852) was $181.84, and now it is $254.99. All of this is quite interesting to me. When I starting thinking about the notes being similar to annuities in function (except for default of course) that I realised it's the number and monthly income from the notes that's a big deal. I ran a simulation of the performance of 36 and 60 month notes to see what the cashflow would be like and it is rather exceptional. It needs to be with the risk of default though. However I can see how banks and finance companies can turn consider profits, including looking at the performance of Visa and American Express. I only started putting some money in in September as the P2P loan company in New Zealand only started operating that week. The cash flow has started and I'm halfway to having enough money to buy an additional note. Saint Fu posted:
That's still good performance despite the number of defaults. Spending the time through the day to pick up the notes you're after is important. I'm finding it works for me so far as I spend a lot of time in the office so logging in isn't an issue. Something else that's noticeable from your graph is that as you increased your investment from $1000 to $3000 there's a distinct increase in the gradient of the total value. Devian666 fucked around with this message at 09:31 on Nov 6, 2014 |
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Nov 6, 2014 01:26
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I couldn't find it in the OP or through the scrolling around through the thread. Does anyone have a page # where filters were being discussed? Apologies if I was blind and missed it in an obvious spot.
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Nov 6, 2014 16:56
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I just got three "Credit for ineligible loan"s. Does anybody know what that means?
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Nov 6, 2014 17:56
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Bloody Queef posted:I couldn't find it in the OP or through the scrolling around through the thread. Does anyone have a page # where filters were being discussed? Apologies if I was blind and missed it in an obvious spot. If you filter my posts out, you can see where I posted my system. There was some other discussion around it as well. I would search & link, but I'm at work right now & have to jump on something here.
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Nov 6, 2014 18:00
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Amun posted:I just got three "Credit for ineligible loan"s. Does anybody know what that means? Where did you see that? Because four of my notes just disappeared - they show up on my spreadsheets, and my Sept & Oct statements, but are nowhere to be found in my account. I am also not seeing the credit, and I'm about to fire off an angry email to support. Edited: I just found the 4 credits from yesterday. I'm still annoyed. They don't give the loan numbers, and the credit amounts on 3/4 of them are slightly less than $25. What the crap. April fucked around with this message at 15:08 on Nov 7, 2014 |
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Nov 7, 2014 14:58
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I saw the credit when I went to Account Activity. I check it every day or two just because I'm a little compulsive that way. I ended up with 6 in total, and while I don't have a spreadsheet with individual loans my portfolio overview on IR implies that they were D, E, and F notes.
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Nov 7, 2014 16:49
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Is anyone doing this with tax advantaged savings accounts? Getting taxed at regular income rates really sucks. Also, how long does it take to sit and invest thousands of dollars if you were to do something like an IRA rollover? Is it pretty quick to find and issue notes once you've got the hang of it or is it a meticulous process of combing through and cherry picking applications?
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Nov 8, 2014 02:06
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BEHOLD: MY CAPE posted:Is anyone doing this with tax advantaged savings accounts? Getting taxed at regular income rates really sucks. I would probably set up automated investing in your latter case to automatically pick up notes when they're added. The first $1000 I invested I cherry-picked but it took months, now I have filters set up to do it for me.
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Nov 8, 2014 07:50
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This sounds like a great way to fund my drug smuggling!
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Nov 9, 2014 07:42
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I had one note paid off in full after it was issued. That was weird so I reinvested that. Today the inflow of cash went over $26 so I have put another $25 into funding which will fund my first additional note. The exponential take off in cash flow starts from now for me.
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Nov 17, 2014 20:20
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Is anyone else planning on partaking in the IPO?
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Nov 20, 2014 23:14
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Debating it, but figuring I'd be one of the stooges holding the bag while other people got rich.
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Nov 21, 2014 00:25
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Knightmare posted:Is anyone else planning on partaking in the IPO? I came to this thread to post the same. I'll probably be in and try to buy as much as Fidelity will let me. It's generally under 5k for individuals from what I've seen with other IPOs.
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Nov 21, 2014 01:32
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Clicking the IPO link they sent via email just goes to the settings page with no confirmation provided. Is that what's happening for everyone else?
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Nov 21, 2014 04:09
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Shadowgate posted:Clicking the IPO link they sent via email just goes to the settings page with no confirmation provided. Is that what's happening for everyone else?
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Nov 21, 2014 04:11
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Shadowgate posted:Clicking the IPO link they sent via email just goes to the settings page with no confirmation provided. Is that what's happening for everyone else? quote:Clicking this button will take you to the Settings section of your account, which will confirm your authorization that we share your contact information with Fidelity. I think we're good.
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Nov 21, 2014 04:51
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Knightmare posted:I think we're good. Yeah but you'd think there would be some message saying "Opted in for Fidelity to contact you", but nope, just the settings page. Either way I'm buying into the IPO if the price seems reasonable.
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Nov 21, 2014 05:28
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Just got enough cash flow to get a second note. The annualised return is sitting around 17% for the first 80 notes that I got. Despite some late payments no one has run off with the loan money so far.
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Dec 2, 2014 23:35
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I have my first note go into grace period, son of a bitch. I think this is the first payment too. I don't have very many notes, but I'm pushing 2.5 years so I knew at some point one of them would go belly up. I know some, as policy, sell them as soon as anything looks fishy.
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Dec 4, 2014 17:22
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I have ~700 notes now, and somewhere between 1-3% will end up being charged off if things follow the current trends. It's more or less built into the my investment assumptions, and if the default rate stays at that, it's not too bad. That's why you have lots of notes of the minimum amount of $25. 11-14% minus 1-3% defaults gives you returns of of 8-11%, which is pretty good for a mostly passive investment. If it starts to creep up significantly in a very short amount of time then I'd start to worry.
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Dec 4, 2014 17:29
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Dukket posted:I have my first note go into grace period, son of a bitch. I think this is the first payment too.
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Dec 4, 2014 17:36
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Saint Fu posted:It's not that unusual for a first payment to be made in the grace period. I know, it just bummed me out.
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Dec 4, 2014 19:45
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Well the preliminary prospectus is out for the LC IPO. It looks like they lost $23.8 million in the first 9 months of September mainly due to a huge increase in "other" expenses this year. They made $7.3 million in net income in 2013. Anyone still planning on getting in on the IPO?
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Dec 4, 2014 20:20
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I'm used to slow payers or bad debts with my business. I've had a few go into arrears and then catch up. The site I'm with in New Zealand changes late fees and passes them on. So being a bit late then catching up adds profit.
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Dec 4, 2014 20:40
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Saint Fu posted:Well the preliminary prospectus is out for the LC IPO. It looks like they lost $23.8 million in the first 9 months of September mainly due to a huge increase in "other" expenses this year. They made $7.3 million in net income in 2013. Anyone still planning on getting in on the IPO? I've been going through trying to figure out exactly what the change was due to. I'm probably still in on it, but I probably won't get more than 250 shares.
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Dec 4, 2014 21:34
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Saint Fu posted:Well the preliminary prospectus is out for the LC IPO. It looks like they lost $23.8 million in the first 9 months of September mainly due to a huge increase in "other" expenses this year. They made $7.3 million in net income in 2013. Anyone still planning on getting in on the IPO? I'm iffy on it. I still may, just because I'd like to support the model, and that years from now it could be a pretty popular model. I thought I remembered Warren Buffett being a fan and it'd be cool if he came in and boosted the stock, but being an investor and a stockholder seems kind of like double dipping and I'm not liking the numbers so far.
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Dec 4, 2014 21:58
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Bloody Queef posted:I've been going through trying to figure out exactly what the change was due to. I'm probably still in on it, but I probably won't get more than 250 shares. As near as I can tell, it's largely charges for a whole bunch of people, current and former employees, exercising options. Considering their IPO is coming up, that makes sense it would all be stacked up at once.
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Dec 5, 2014 00:09
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Saint Fu posted:Well the preliminary prospectus is out for the LC IPO. It looks like they lost $23.8 million in the first 9 months of September mainly due to a huge increase in "other" expenses this year. They made $7.3 million in net income in 2013. Anyone still planning on getting in on the IPO? The blue sky exemption is going to kick off with it next week, right?
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Dec 5, 2014 22:30
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Anyone else get shares in the IPO? I just got allocated 250.
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Dec 11, 2014 16:28
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Are they avoiding posting new loans until the IPO or what? This is a pretty brutal dry spell...
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Dec 11, 2014 17:36
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mrmcd posted:Anyone else get shares in the IPO? I just got allocated 250. I only got allocated 175. I requested 250. However, I'm out already. Liquidated at 23.33 for a tidy $1450 profit. However, I'm a little worried it'll go to 30 today and I'll regret my quick exit.
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Dec 11, 2014 17:55
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Congrats to anyone who took a quick profit, and best of luck to anybody holding. I was too lazy to open another brokerage account.
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Dec 12, 2014 00:34
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Amun posted:Are they avoiding posting new loans until the IPO or what? This is a pretty brutal dry spell... It may be due to the fact that many investors are now paying attention to LC from all the IPO news and the lender pool experienced a lot of growth whereas the borrower pool probably hasn't.
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Dec 12, 2014 10:11
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Knightmare posted:Is anyone else planning on partaking in the IPO? IPOs especially for startup companies tend to be fools gold. Also it's important to note for Lending Club another weakness is despite the large returns you make less than boring traditional forms of investments such as stocks since it's taxed as ordinary income.
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Dec 13, 2014 16:50
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