Harmoney

[joker]

But from a cash flow point of view at least he doesn't have ~$800 a week heading out the door to service a mortgage, hopefully only paying a couple hundred a week in board, so might be able to afford the P habit and the harmoney repayments. lol.

Haha - I love your humour

[bullfrog]

But from a cash flow point of view at least he doesn't have ~$800 a week heading out the door to service a mortgage, hopefully only paying a couple hundred a week in board, so might be able to afford the P habit and the harmoney repayments. lol.

Sounds familiar... couple of hundred in board (rent office space), p habit (cost of your pppeople), and making just enough to make repayments, yep, typical startup business plan. Could name and shame but we all know the companies... hha

[myles]

Just doing some monthly numbers so thought I'd put up some data as it's always good to compare against others.

This represents around 18 months of investing $100K, no withdraws, 2,229 total loans.
The charge off value may look high to some, however it only represents 1.6% defaults (on loan count, almost the same in value). My return calculation, after tax (10.5% + deductions) is 15.52% based on current value.

I think I may now be over the 'default' hump (i.e. in year two defaults begin to reduce) as I'm seeing my RAR creep upwards ever so slowly. Time will tell - hopefully in another 6 months those older loans will start to outweigh the new defaults (note ~80% of my loans are 5 year loans).

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I have another loan set running at 14.84% RAR with more C's, less D's and less E's, so having the balance pretty much in the middle, seems to be working for me. I'd like to pick up some more D's and E's, but they just aren't available.

[Cool Bear]

Just doing some monthly numbers so thought I'd put up some data as it's always good to compare against others.

This represents around 18 months of investing $100K, no withdraws, 2,229 total loans.
The charge off value may look high to some, however it only represents 1.6% defaults (on loan count, almost the same in value). My return calculation, after tax (10.5% + deductions) is 15.52% based on current value.

I think I may now be over the 'default' hump (i.e. in year two defaults begin to reduce) as I'm seeing my RAR creep upwards ever so slowly. Time will tell - hopefully in another 6 months those older loans will start to outweigh the new defaults (note ~80% of my loans are 5 year loans).

Position.jpg

Summary.jpg

I have another loan set running at 14.84% RAR with more C's, less D's and less E's, so having the balance pretty much in the middle, seems to be working for me. I'd like to pick up some more D's and E's, but they just aren't available.

Great results, Myles. I struggle to keep to the high 13% with about 5000 current loans after 3+ years.

[beacon]

Great results, Myles. I struggle to keep to the high 13% with about 5000 current loans after 3+ years.

I'll second that. Well done Myles. I'm struggling to keep to the high 13% too, with current portfolio numbers roughly half of Cool Bear's. Also, struggling to invest much despite a steady (albeit low quantity and quality) trickle of loans ... Squirrel returns have weakened considerably and LC hasn't much volume that stays available long enough to bite into. So plodding along with Harmoney, but looking for alternatives ...

[joker]

Just doing some monthly numbers so thought I'd put up some data as it's always good to compare against others.

This represents around 18 months of investing $100K, no withdraws, 2,229 total loans.
The charge off value may look high to some, however it only represents 1.6% defaults (on loan count, almost the same in value). My return calculation, after tax (10.5% + deductions) is 15.52% based on current value.

I think I may now be over the 'default' hump (i.e. in year two defaults begin to reduce) as I'm seeing my RAR creep upwards ever so slowly. Time will tell - hopefully in another 6 months those older loans will start to outweigh the new defaults (note ~80% of my loans are 5 year loans).

Position.jpg

Summary.jpg

I have another loan set running at 14.84% RAR with more C's, less D's and less E's, so having the balance pretty much in the middle, seems to be working for me. I'd like to pick up some more D's and E's, but they just aren't available.

Excellent results Myles. I've attached my charts and have unfortunately not performed as well as you. I've been in only 1 year, so missed out on scorecard 1's higher rates (up to 39.99%). I had intended to invest $100k but after the recent changes and lack of loans have gone backwards despite doubling investment to $50 per loan. After several defaults on the riskier grades combined with very few decent C, Ds available, I moved more into A & B loans. I was around 13.3% but fell after an early D2 $100 investment was charged-off. Peak was around 2161 active loans but now at 1934. Autolend isn't getting any loans and checking what's on offer regularly is too time consuming. Interestingly, my $$$ charged-off is 8% of gross interest compared to your 11% confirming that a conservative loanbook results in lower returns. I've stopped investing atm.

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Attachment 9895

[myles]

I had intended to invest $100k but after the recent changes and lack of loans have gone backwards despite doubling investment to $50 per loan.

I'm typically investing $100 in each loan now, with regular $200 and even $400 on some of what I consider the 'safer/better' loans. With 100K it's the only way to keep funds available down, and because of the overall size, I don't see it as being particularly risky.

[Cool Bear]

I'll second that. Well done Myles. I'm struggling to keep to the high 13% too, with current portfolio numbers roughly half of Cool Bear's. Also, struggling to invest much despite a steady (albeit low quantity and quality) trickle of loans ... Squirrel returns have weakened considerably and LC hasn't much volume that stays available long enough to bite into. So plodding along with Harmoney, but looking for alternatives ...

Have you look at Zagga (previously Lendme). Not much on offer but you can invest in chunks of $1000 when available. I have been in for about 2+ years. Only less than 10 loans so far and already 2 paid back as loans are between usually 6 months and 2 years. They could do with more investors. Per $10,000 invested, I would spend a very small fraction of the time I spend on Harmoney. Another advantage is also that you do not have any cash sitting with them (unlike Harmoney and Lending Crowd). You only put in cash when and if the loan is taken up and they will give about a week's notice to do so.

[leesal]

I'm typically investing $100 in each loan now, with regular $200 and even $400 on some of what I consider the 'safer/better' loans. With 100K it's the only way to keep funds available down, and because of the overall size, I don't see it as being particularly risky.

Great going. Default rate sitting really good relative to the risk. You must be selecting well.

How many loans a week are you investing in Myles?

I'm getting around about 20, but quality not really there, so investing on the light side in over 50%

[beacon]

Have you look at Zagga (previously Lendme). Not much on offer but you can invest in chunks of $1000 when available. I have been in for about 2+ years. Only less than 10 loans so far and already 2 paid back as loans are between usually 6 months and 2 years. They could do with more investors. Per $10,000 invested, I would spend a very small fraction of the time I spend on Harmoney. Another advantage is also that you do not have any cash sitting with them (unlike Harmoney and Lending Crowd). You only put in cash when and if the loan is taken up and they will give about a week's notice to do so.

I had looked at them last year, but only E and F grades had seemed tempting. 2016 0901 MUHL Zagga investor return - fee.JPG

Since then they've had a C default, making their overall default rate across all risk grades and loans issued thus far to be 1.77% on a very flea base (https://www.zagga.co.nz/invest/rates-of-default ) vs 3.37% to date with Harmoney on comparatively an elephantine base, which is returning 10% RAR.

To August 2018, they had only lent approx $8 million in New Zealand and $61 million in Australia. ( https://www.interest.co.nz/personal-...vestors-are-nz). Have you taken any/all offered loans A1-F5, or just the more risky ones? If you have taken any Aussie loans too, are there any tax implications of Aussie interest earned?