Your right, I can only see four loans available to loan to...
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Really struggling. Only one this morning and it only have 7 notes free.
I dont have much invested but basically need to buy 1 or 2 notes each day. I really do notice the reduced selection recently and just before that, they were increasing supply through refinances which are starting to slow now (though 1 yesterday refinanced after only 3 payment!).
Yesterday I logged in and saw a grade A loan request and I quickly invested my surplus, they seem to disappear like hot cakes!
What I thought would be handy is an auto reinvest, kind of like quick invest but it just does it automatically when you have enough cash available for a new note.
They've just dumped 20 new loans in so not to bad - will see how quickly they get snapped up.
I want to try Harmoney and have just tried to credit money and allow it to be direct debited, but I think I am going to have to wait three days for funds to clear before I can start.
it all seems to good to be true, however I guess the reality will sink in when the defaults start happening
Harmoney works best drip feeding a small amount in each week, good luck transferring in large one off amounts.
Those 20 loans from this morning are gone, only 2 now showing.
I find the direct transfer normally goes through the next day but the DD takes a few.
Defaults are the big unknown. I have had a few but the have been more than compensated. Time will tell if thats the still the case.
Agree. Only put in a bit at a time as you want to be fully invested as soon as and dont want to be forced to take loans you dont want to. If you dont want an A and B, you are currently out of luck but there was was a time when there were no A going though. The other annoying thing is you have no idea when they will they will upload more loans so unless you have time to check a few times a day, you may miss your opportunity.
Whats the best strategy?
I am going to invest in each loan .
I started at 4 notes for each but have now switched down to one note, but I think it will take too long , I may have to increase.
On average how many loans come up for investment per week?
If I invest in each new loan for 60mnths I will be visiting the website a lot.
Anyway I hopes it better tgan my forrays into FOREX and Canadian oik juniors.
My best investment has been the house I bought.
True - especially if you have a house in Auckland. How long Auckland house price rises will continue to exceed historical averages is uncertain.
Your returns from Harmoney are taxed at your marginal income tax rate, whereas with real estate all your capital appreciation and, if you are the owner-occupier, the benefits of being an owner-occupier are tax-free. With Harmoney all the gross interest is taxed, then you still need to pay the service charges and deduct from your returns any defaults, so you could end up paying more than 33% tax during the course of the year on your actual net investment returns. In addition to the uncertainty of actual default rates, especially as the economy comes in for tougher times.