P2P Lending / NFT Lending Forum

See the post "worst month yet".

I'm right there with you. Lost $819 on ~100k invested last month.

Yea don't forget that only 3k of your losses actually count as losses. If you're like me and earned 30k in interest but lost 33k to defaults then you'll be paying taxes on 27k of phantom earnings. Ridiculous.

If you start with a 75% LTV then you can afford a 25% drop with no loss.

Investing in startups is risky, most fail. Still, I plan to do it as part of my broader strategy.

Yep, I am negative for the year now.

I have been using it and my returns are pretty bad. Barely getting above 2% IRR.

Keep in mind the borrow default curve. If you stop reinvesting, then you stop getting interest from all of the new loans that probably haven't defaulted yet. The defaults keep rolling in though. June was also my worst month yet.

My stats: ~80k invested with ~2k earned in interest so far. What peer street doesn't tell you is that not all loans repay on time. For example, I currently have 5 loans that were suppose to mature. Some have had extensions granted and some have been taken over by Peer Street and are getting ready for sale. Personally I think GroundFloor is better for dipping your toes in, since the minimum commitment is $50.

The results are in. LC says I've had 3 notes (out of ~20000). They gave me the 3 loan ID numbers.

Long time reader, first time poster. I have had ~21000 notes in my account over its 8 year history. I've reached out to LC and will let you know what they say.