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Originally Posted by BJ1
I'm with you on this permutation. I've had four autolend loans totalling $400 out of 245 loans totalling $172,000. Of the four, one was repaid inside 6 months and two are constantly in and out of arrears. All were taken in October and December last year. I've decided that manual investing using a long developed lending background is best for me. And this month I had my first write-off: $285 on a $325 E2 taken out January 2016 which after I did it I wondered about the head space I was in at the time.
Like you BJI, I will begin to exclusively use manual loan selection only in a very concentrated grade band based on my results from the last 25 months lending.
My remaining A, E and F grades will vanish from my portfolio by attrition.
My return is currently 232 pips above the platform RAR and I expect this to increase to 500-600 pips over the next 12 months to a RAR of 16.5 to 18%.
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