Nice.
So because you put more into each loan I assume you read the descriptions and stuff?
Also admiring your RAR with your mix, any reason for the 50/50 of 36/60 months?
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Apart from about 4 autolend all of my loans are carefully chosen. I don't do anything with a funny "smell" to it. I started off with 60 mth loans in A and B and 36 mth for C D E but in the past year have allowed "better" C to go to 60 mth but overall concentrated on reducing term as markets moved more and more to being over extended - when the inevitable crash comes I want to have options and also I want my borrowers to be able to extend their payment plans (and thus clear me if they do refinance).
And with Joker's 4.79% and BJ1's 2.27%, there must be quite a few with well over 50% for the average to be 22.94%!! But of course the real objective is the net returns - which RAR is a (not so accurate but still a) decent measure.
dunno, if i should be happy or sad.
Attachment 9550
Thanks BJ1. I envy your obvious skill in picking sound loans - I could never pick/reason which loans are worthy of $600. Your low level of charge-offs is nothing short of amazing. My loans are 50/50 autolend/picking and are almost exclusively $25 units. I also like your reasoning with 36 month loans.
Attachment 9551
I intially invested in anything with a ratio of 15% monthly payment to income ratio across all bands, in the early days there wasnt enough loans to get to get the cash into the system - so you couldnt invest fast enough and maintain diversity. So early days was across all loan types. NOw i only do a-b-c
A mistake ive made is that i have 50k spread over 785 loans (most are a-b types)(roughly $75 per loan).
Most days i have less than $200 as a float in the account so constantly renewing everyday. - ideally it should be 25 per loan - world is not perfect. It took a year to spend the first aprox 80k - so its not an investment in one lump sum.
Using excel the xirr is 11.54% after tax over 1137 days since first investment.
Breakdown of charge offs, debt sold and hardship
C5 17 C4 8 E4 26 E5 27 E2 28 F3 14 C2 7 B1 3 B5 10 D1 24 D4 18 D5 18 D3 13 F2 16 F1 21 E1 16 B3 8 C1 9 C3 9 E3 28 F4 10 D2 20 B4 6 F5 36 A5 5 A1 1 B2 3 A3 1 A4 1 403
Charge offs: 0.82% (on number of loans)
Avg weighted Interest: 20.08%
RAR: 16.32%
Commendable results, myles, joker and BJ1. $600 per loan is indeed brave for an early 6-figure portfolio, BJ1, but had you not shown the numbers I would never have believed what you've achieved over 3 years, could be done. Kudos!
Interesting raw default data, ITRWTgear