Out of interest though My lending crowd NAR was above my harmoney RAR for the 1st time ever last week - and still is this week
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Years ago Harmoney featured tangentially on episode 61 of the Lend Academy podcast (https://www.lendacademy.com/category/podcast/page/9/). To bootstrap the service Harmoney brought a system that handles the internal workings of a p2p platform and wrapped a website on it. The guy interviewed sells his system around the world.
Knowing this and assuming it's still the case, we might assume that Harmoney don't have 100% control over the internal behavior of their platform. They may have to wait on new releases or bug fixes to address issues like the rest of us.
Re the Arrears problem on the dashboard, yes clearly been a problem for a while, but how long has it been known? Did anyone tell Harmoney?
(26 June, 2018) - A bug in arrears reporting was resolved yesterday which may have resulted in a change in the amount of arrears reported in your dashboard. The bug did not impact your underlying cash transactions and balances and transaction statements. Apologies for this and steps have been put in place to prevent this happening again.
Spin really doesn't help.
Tax season friends. I've been looking over investor as a business IRD paper to determine if I was in the business of investing. Just wondering if anyone had come across anything useful in assessing whether or not you can claim loan defaults. Anyone want to share their experience? I've begun migrating all of my funds out of harmoney to more tax efficient vehicles.
Exchanged traded funds or shares really. I don't believe there's capital gains tax in NZ.
There actually is a capital gains tax - any investment acquired with the intent to sell it at a profit is a taxable investment. That applies to widgets, shares and property. IRD doesn't enforce the law, perhaps because it is thought to be hard to prove intent. All it needs is a change in Ministerial guts to backdate application up to 10 years.
Looks like things are picking up today - 14 loans $327,600 and a spike up on the auto-lend graph.
The snow holiday might be over...
I got my first Auto lends in over a month and a half today, Unfortunately It invested 4 notes in a loan that while it matched my auto lend criteria had I been manually investing I would not have invested anything. But at the same time only invested 1 note in a loan that matched my auto lend critea and I would also have happily manually invested in
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After around 15 months I've invested 200K for an investment of 100K... It certainly isn't - invest and forget :ohmy:
I've invested 2.68 x more / had a turnover 2.68 x higher then the maximum I have had invested thats over a period of 3.5 years - So its far from set and forget - especially since I have only had auto invest make an investment twice in the last 3+ months - Its taking everything I can to just reinvest to hold a particular balance invested, I certainly could not increase the amount invested even if I wanted to. But given my lending crowd return is now higher then harmoney there is no real reason to increase the total amount invested with harmoney