Harmoney

[alundracloud]

Really nice numbers leesal!

[myles]

Will also add, have been on HM 15 months today and finally crossed the 50k mark. Total P2p holdings just under 85k.

I see a rise in defaults in your future - you're at about that stage I think - of course you may have it all worked out and miss out

I'm at about +1% RAR but at about a 40 fold default rate - that's with double the investment at just over 600 days.

Did you, are you, winning your wager?

[leesal]

@ beacon / alundracloud - Thanks. Will do well to have defaults like BJ1 @ 40k interest, don't think will match his 36 month loans either!

@ myles - Lost the wager, rather anticlimatic -the winner fluked it on10 E grade loans, a couple of which looked terrible!

Am fully expecting defaults to come - am hoping they'll stay below 3% of loans (or approx 50 on current #s). Don't think will match your RAR. Will be good if can continue flirting with 15% (Will certainly screenshot cross that mark).

Pity about the 33% WHT. Are there any useful tips on how to minimise this? Don't have an investment property to offset tax credits.

[Cool Bear]

@ beacon / alundracloud - Thanks. Will do well to have defaults like BJ1 @ 40k interest, don't think will match his 36 month loans either!

@ myles - Lost the wager, rather anticlimatic -the winner fluked it on10 E grade loans, a couple of which looked terrible!

Am fully expecting defaults to come - am hoping they'll stay below 3% of loans (or approx 50 on current #s). Don't think will match your RAR. Will be good if can continue flirting with 15% (Will certainly screenshot cross that mark).

Pity about the 33% WHT. Are there any useful tips on how to minimise this? Don't have an investment property to offset tax credits.

Hi Leesal
if you are effectively paying 33% on ALL your HM interest, then it is probably wise to do it as a limited company and pay 28%. Hardly any additional cost involved if you do it yourself. A bit of record keeping, simple accounts and tax forms (online) and $40+ to the Companies Office each year. DIY setting it up with the Companies Office will cost less than $200.

[leesal]

Hi Leesal
if you are effectively paying 33% on ALL your HM interest, then it is probably wise to do it as a limited company and pay 28%. Hardly any additional cost involved if you do it yourself. A bit of record keeping, simple accounts and tax forms (online) and $40+ to the Companies Office each year. DIY setting it up with the Companies Office will cost less than $200.

TY Cool Bear. Was meant to go through a trust with part of the income channeling to my partner on a lower tax bracket... But isn't panning out like that. And we don't need the cash now, so reinvesting it all.

Seems to make sense to setup a company. Does it make any difference if its a LTC?

[Cool Bear]

TY Cool Bear. Was meant to go through a trust with part of the income channeling to my partner on a lower tax bracket... But isn't panning out like that. And we don't need the cash now, so reinvesting it all.

Seems to make sense to setup a company. Does it make any difference if its a LTC?

By LTC, I suppose you meant a Look Through Company? Then makes no difference in setting up one as the income and expenditure becomes yours and you will be taxed at 33%. Set up a "normal" limited company and leave the profits in there to be taxed at 28%. Later, if your tax rates drop, I presume you can then take the profits out as dividends to be taxed at the lower tax rates. But seek advise first if you are talking about significant amounts

[leesal]

By LTC, I suppose you meant a Look Through Company? Then makes no difference in setting up one as the income and expenditure becomes yours and you will be taxed at 33%. Set up a "normal" limited company and leave the profits in there to be taxed at 28%. Later, if your tax rates drop, I presume you can then take the profits out as dividends to be taxed at the lower tax rates. But seek advise first if you are talking about significant amounts

Thanks top advice Will look into setting up as a company.

Have noticed recently that the afternoon loans get wolfed down like an double chocolate magnum on a desert island. Saw a B5 a moment ago, barely read the detail and was gone before had confirmed the order. Followed by a C3 and B3 which got an order on instantly and disappeared a few seconds later.

Similar story for about a week around this time.

[myles]

Have noticed recently that the afternoon loans get wolfed down like an double chocolate magnum on a desert island. Saw a B5 a moment ago, barely read the detail and was gone before had confirmed the order. Followed by a C3 and B3 which got an order on instantly and disappeared a few seconds later.

Similar story for about a week around this time.

Not sure if it's the same for everyone, but I'm being flooded with cash coming back at the moment - I suspect it's pre-Christmas re-write top ups - which means there is a lot more available cash around to be invested - which results in loans disappearing quickly...my theory anyway...

[RMJH]

Not sure if it's the same for everyone, but I'm being flooded with cash coming back at the moment - I suspect it's pre-Christmas re-write top ups - which means there is a lot more available cash around to be invested - which results in loans disappearing quickly...my theory anyway...

Funnily enough I have just put some more cash in for the first time in 18 months as I managed finally to get the balance to zero. I check a few times a day so maybe I just got lucky.

[myles]

Yep, no shortage of loans at the moment, but some are going quickly.