Just up on their Website!!
Attachment 8806
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Just up on their Website!!
Attachment 8806
Finally got my first auto-invest with less than 1% available funds
I had around 4% available funds, have not had an auto lend since 17th December. I topped up, which took me to over 10% available funds, auto lend then kicked in, which was great, but it kept going until I was under 2%. Very surprised.
some of the monthly incomes seem dodgy
a 20-29 year old in Rotorua earning $5.5k / month AFTER tax?
Thats a $87k per year, which is really good for that age group in Rotorua...
Attachment 8811
LAI*00094753 this one worries me repayments 50% of income and paying a mortgage on top of that and grade B2 and a rewrite with principal more than doubling?
Hi, I have just signed up with Harmoney & just about to deposit some spare funds to invest. Just dipping my toes in at this stage but is anyone able to give advice to a newbie?
Cheers
Hi Brut,
Diversify by only investing 1 note per loan. I would try and have at least 200+ notes across seperate loans. Log in regularly as many loans are repaid/rewritten early and or setup auto investment. This helps minimise the amount of money sitting idle in your account. I personally now avoid the grade A, E and F loans due to my risk/return preferences. and expect to get write offs.
Diversify within each grade you choose to invest. Don't be fooled into trying just a few of the riskier grades as it is very much a case of safety in numbers. The higher the risk the more you should diversify so say at least 100 for A's but more like 300 for E's and F's. I have found sticking to A to D gives me a return of 14% which is slightly better than the whole platform so I don't see any benefit of going with E's and F's. I also filter out business loans and any over $35k. Using auto invest is much easier and almost essential to build a portfolio now. Good luck!
Look at the interest-default graph posted by Myles on 20 April. It gives a good pointer for where the optimum net returns are, if defaults in your portfolio align with Harmoney's expectations. Be prepared for defaults to align to expectations and don't be emotional about them - this is a business. Personally, $25 a loan is too small and the only way it makes sense is to just play percentages - in which case you should receive a net return in accordance with Myles' graph - if you want a net return of 16.51% then you can always invest just in C3 loans; or spread equal amounts across B2 to D4
Thanks for taking the time to respond & for the helpful tips, much appreciated!