Thinking the same as cannot grow the investment due to scarcity of loans.
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I had $120k invested and had the same problem. Stopped investing in March as the time needed to monitor the new loans far exceeded the return. I needed to sit at the computer all day to catch them as they landed and even then missed a lot. There can be no doubt that people are using programs/crawlers to automatically invest in the loans as they land but Lending Crowd either can't or won't stop this behaviour and are uninterested in developing their own autolend app. I would love some of the investors here who are still investing successfully to divulge their apps or methods but I doubt that they will be forthcoming.
I manage to stay 100% invested.
It's just a case of being near a Computer or Phone and being alerted to an incoming Email.
I use Gmail Email Filters to NOT be alerted about the LC Loan Emails that I do not want.....
Good if you are retired...... If you are working away from Technology - Not a chance unless there is that very rare 50K_ loan that stays around for hours....
I agree that by the time you get the email, the loan has gone. I work on my computer all day long, and have multiple screens so I have the Lending Crowd new loan page on auto-refresh every 30 seconds and so am quickly able to see new loans. But even then, the small B2s (say, under $5,000) get fully subscribed very quickly and basically I have to skim-read the loan details and invest (or not) within 30 seconds, otherwise it is too late. Obviously the bigger loans (> $20k) take longer to fill so you have more time but I find that even with those ones, the email sometimes arrives too late.
To summarise: I don't rely on the email alert.
Big changes from today with unsecured loans available.
The loan classification changes (and their associated rates), form just having A1, A2, B, B2 to A1-2-3, B1-2-3, and all of them secured or unsecured. New rates also for unsecured loans available on a 24 months basis.
Not sure whether that means we'll suddenly see lots more loans, and what the unsecured ones will look like. Will it be more like Harmoney used to be?
Not to keen personally to Invest in Unsecured Loans.......
OK well it's time for my 60 Month ( 5 Year ) Investment Update at Lending Crowd....
I have now been with LC since their very 1st loan, which was issued on 21st December 2015.
My Platform RAR = 12.38%
My # of Loans = TOTAL 1656 \ ACTIVE 515
My # of Loans in Default = CURRENTLY 2 ( 0.00388% of Open Loans )
This is now a mature relationship with Lending Crowd , who I see as my trusted ‘investment vehicle’ and partner
The only other thing to say is do not hesitate to call Wayne Crowd ( the Owner \ Managing Director ) he is very approachable and will always return your call.
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Sammee says "The only other thing to say is do not hesitate to call Wayne Crowd ( the Owner \ Managing Director ) he is very approachable and will always return your call."
Well that's BS - I emailed Wayne and never received a reply. I got the feeling he couldn't care less...here's my email...
Hi Wayne
I’ve become very disillusioned with Lending Crowd after many successful loan investments.
The problem isn’t the quality of the loans or write-offs but the impossibility of investing.
I had $120k invested but stopped investing in March as the time needed to monitor the new loans far exceeded the return. I needed to sit at the computer all day to catch them as they landed and even then, missed a lot.
I had previously used an app specifically designed for the Lending Crowd platform, but Lending Crowd effectively banned the usage of the app (and allegedly all others).
There can be no doubt that people are using programs/crawlers to automatically invest in the loans as they land but Lending Crowd either can't or won't stop this behaviour and seem uninterested in developing their own autolend app.
I would love to start reinvesting with Lending Crowd and would appreciate your guidance on how to do this with out becoming tied to the computer all day.
Kind regards