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  1. #1181
    Junior Member
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    Dec 2021
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    Picton (currently)
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    I think Samee is very realistic on things happening which I can confirm still sitting on over 800 loans (more going out then in lately) with 12 written off, 11 in collection and 44 in areas.
    However the recovery of written off loans was not too bad at all so far with <$500 lost incl. recovery cost, $200 of them from unsecured currently sitting on 4.5% of them over my portfolio and $220T invested.

    Yeah, inflation is a big issue. No half way secure invest option would be capable to cope with those recent retail price rises. In (yet European) war times the stock market would be a no go anyway either. As Samee said it very right, people are loosing their jobs for mentioned reasons despite huge labor demand and loans are increasingly going into areas.

    I'm running a 9.5 - 10% reported NAR which is my goal and I am very happy with it.

  2. #1182
    Senior Member
    Join Date
    Sep 2015
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    Norf Eyelynd
    Posts
    834

  3. #1183
    Member
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    Jun 2021
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    thames
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    59

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    I struggle with choosing loans in my head with flex.
    Is there an easy trick to it?
    Not that there seems many 10% flex at higher rates anyway but for example which would be better?

    A: 13% loan with 10% flex
    B: 15% loan with 25% flex

  4. #1184
    Senior Member
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    Sep 2015
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    Norf Eyelynd
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    834

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    Quote Originally Posted by kiwical View Post
    I struggle with choosing loans in my head with flex.
    Is there an easy trick to it?
    Not that there seems many 10% flex at higher rates anyway but for example which would be better?

    A: 13% loan with 10% flex
    B: 15% loan with 25% flex
    It is only one criteria to consider.

    I would favour Security over anything else ( only invest in loans with Property as Security - especially in the current climate )

    If you have Funds to invest with LC then whatever rate you get, will ALWAYS be better than anything you can secure at a main street bank!

  5. #1185
    Member
    Join Date
    Sep 2019
    Posts
    53

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    Saamee is right in the sense that Flex by itself doesn't indicate a better or worse loan. Other criteria will tell you more about the quality of the loan.

    LC helpfully tell you the final rate, once Flex is applied. For example, there is currently a 16.64% loan with 25% flex, and the flex-adjusted rate is 12.48%.
    In your example, a 13% loan with 10% flex means a true, flex-adjusted rate of 11.7% (before tax)
    While a 15% loan with 25% flex means a flex-adjusted rate of 11.25% - so the above is slightly better.

  6. #1186
    Senior Member
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    Sep 2015
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    Norf Eyelynd
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    834

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    Looking for more proof on Bad Loans??

    Steer well clear of the Unsecured loans!!

    https://www.stuff.co.nz/business/128...ise-in-arrears

  7. #1187
    Junior Member
    Join Date
    Dec 2021
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    Picton (currently)
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    28

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    One thing I will probably never understand during my remaining lifetime:

    If you have an income between $4,000 and $8.000 with $3.000 outgoings living in rent, why the h... would you need a 24M unsecured $2.000 loan with quite high interest paying off $100 monthly if you just could have saved a month or two to get the desired item without a loan.
    Well I'm fully living on those not thoughtful people thanks god, but I'll never ever understand those people.
    My policy from the moment I stood on my own feet was: "Mike, you're flying now, look that you'll always have enough air underneath your wings not to crash." I'm still flying well.
    Goes without saying that I never had a loan or a mortgage in my life which always was my policy and I even built a house long time ago with my hands.

    People are financially wired today, what to do.

  8. #1188
    Member
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    Jun 2021
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    thames
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    59

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    Just the way of the world now Mike. I'm in online retail. The number of people who ask for laybuy, afterpay, humm, zip or another of the buy now pay later schemes is boggling. Often for items that cost less than $100. Kids want that widget NOW and don't care that it is costing them more or will land them in strife if they can't meet the payments.

  9. #1189
    Junior Member
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    Dec 2021
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    Picton (currently)
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    28

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    just experienced my first 100% write-off of a secured C2-S-10% loan. I wrote them asking for more information like why the security didn't kick in. No response however. Not very satisfying.

    To add to this we all observed that there were hardly any own 10% flex loans available anymore from one day to another since about 2 months ago or 3. With exception of some very few very low risk ones.
    Wondering if there is some kind of profit margin polishing happening like selling own loans as referred 25% flex loans. Please let me be wrong on this.

  10. #1190
    Junior Member
    Join Date
    Nov 2020
    Posts
    27

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    I started investing via P2P platforms about 18 months ago and spread a few smaller amounts around to see how things stacked up before making larger commitments. Suffice to say I have found Lending Crowd to be the least impressive of them. I think the quality and amount of investment available has definitely dropped off over the last 12 months, and communications compared to other platforms has always been poor. I am moving my funds out and over as it becomes worthwhile to do do.

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