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Messages - New Jersey Guy

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Interest Radar / What features do you still use on IR?
« on: August 03, 2018, 11:00:00 PM »
The Analysis Page.  I have several strategies saved to that section.  None pull up any results anymore.
Interest Radar / Is Interest Radar still active
« on: December 31, 1969, 07:00:00 PM »
I just tried to use it.  I was able to log in.  However, none of the functions appear to work correctly.  I was not able to pull up any loans on any of my filters.  The link to Blue Investment turned up a blank page.
Ryan is right.  This is a (very) part-time job, nothing more than a sideline.

I don't do it every day.  Sometimes only once per week.  Or, when my idle cash is getting a little too high.  Or, when I can't find anything else worth buying. Or, when Ryan emails me and tells me somebody just dumped some good notes!

Interest Radar works best with this, as it has a "Discard" feature that will black mark notes you already looked at.  Unlike the Folio platform, you won't be looking at the same notes over and over again.  Plus, you can set up some filters if you wish, to narrow your results.

And he's also right about owning larger notes.  You can filter $50 notes and higher.  Typically, a $100 note will run you about $50.  I have (or had) a few $100 notes.

I purchased

$100 Note purchased at a 2.5% discount for $39.63:  YTM with the discount will be $14.4%
Steady 680 FICO
Good pay history
What's not to like?

Investors - LC / if investors could still ask borrowers questions...
« on: June 01, 2014, 11:00:00 PM »
I can think of worse positions with a job title like that. 
Investors - LC / Daily Note Price History
« on: May 27, 2014, 11:00:00 PM »
    1.)  they expire after being listed for 6 or so days, this is an issue because the note never sold, so it will totally mess up your datat
    2.)  they were sold, but there isn't away to distinguish from above
    3.)  they were removed by the seller, wow I way over priced that note, let me relist it
    4.)  they were removed by LC for getting a payment, which you only know about if you were either the buyer or the seller

That's correct.  IR cannot distinguish between a note getting sold and one that a seller cancelled for whatever reason.

Here are some tips to help identify the sales from the BS.  I'll address the points above.

#1 and #2  If the note shows up in IR as sold, but was listed for 6 days, count on it being expired.  A sold note will generally have a listing time of 0 to 5 days.

#3  The seller removed the listing.  Another easy discovery.  Just look back up to the list of notes for sale and see if that one is relisted.

4.)  "Canceled for Payment."  This is simple also.  Unless there was only 1 note for sale, all notes expire the exact, same time.  So, if you see like 5, 7,or 15 notes that all appeared to have been sold on the same, exact day, that's the day they were all cancelled for payment.

Another way to confirm this is that you will see many of the same notes relisted once they come out of their payment process.

It takes a little practice.  However, once you get the hang of working with IR, you'll be able to glance over that list of sold notes and know which ones were really sales without hardly thinking about it.

Investors - LC / wave of grace notes
« on: May 24, 2014, 11:00:00 PM »
My bleeding has seemed to slow down a bit.
For the month:

8 BK's (which will eventually default)
3 Defaults.

I probably have 2 dozen notes that I had to dump for $2 or less, because they went over 60 days late.  Like I said, it just seems like people have quit paying over the past couple of months.
Investors - LC / wave of grace notes
« on: May 12, 2014, 11:00:00 PM »
I notice the same thing once or twice per month.  I think it's a small glitch in LC system that usually corrects itself not long after.

On a sour note, though, I have noticed a lot of people actually missing payments over the past 45 days.  I've had a very rough time with bankruptcies, too.  They are killing me.
Investors - LC / Unfunded
« on: April 10, 2014, 11:00:00 PM »
There was one that I know of.
It was a guy who produced porno films and was suspected of jumping out of a jetliner with a whole bunch of cash.
Borrowers - LC / In need of a short term loan
« on: March 09, 2014, 12:00:00 AM »
 My THREE questions are: QUESTION ONE: Does your Gross $ Monthly Income include spouse, fiancee, partner? If not included, what is household's Gross $ Monthly Income? Or Gross $ Yearly Income? (FYI: Borrower who submitted application is income established initial eligibility. After funded, borrower income qualifies promissory note that must be issued. A-B-S-O-L-U-T-E-L-Y no cosigners. But does permit another's income to help repay your unsecured personal loans.) QUESTION TWO: All loans feature NO prepayment penalty. You initially selected 3-week loan repayment length. Time you realistically anticapte to service loan (active status) before is paid off: Full term: 3-weeks? or Short term (number days please): 2-3 days? 1-2 days? < 24 hrs.?  No intention to pay the loan at all, default inevitable? QUESTION THREE: All loans won't 100 pct fund. When listing expires, IF loan 60 pct PLUS funded, is eligible to be issued. Would you accept partial loan M-O-R-E than 60 pct funded? (Loans historically are minimum 80 pct funded; but usually end 90 pct funded.) (FYI: Partial, or 100 pct loan, APR identical. Required employment, optional income, verified early help loan quickly fund. Pace quickens when loan nears expiration date. Best option is FLEXIBLITY, because AON (ALL-OR-NONE) demand is rarely successful. If CC REFI, Debt Consolidation, Medical Expense, advantageous to accept 80 or 90 percent. fixed interest, term limited, partial loan to pay off higher APR interest debts. After 6-days current payments, you're automatically eligible relist unfunded $'s, or can list another loan purpose, $ amount. Partial loan reduces interest $'s paid majority of your more expensive APR pct debts. Partial loan is "Plan B" alternative that you should consider as backup option IF loan does not attract full 100 pct funding.)

Best wishes loan quickly funds. Lender 505570 U S Marine Corps Retired Va Bch VA
Investors - LC / Is it really worth .25?
« on: January 23, 2014, 12:00:00 AM »
Borrowers - P / How do I get a Prosper account or Lending Club Account?
« on: January 02, 2014, 12:00:00 AM »
Credit score is just part of the approval process, but I don't think your score is going to cut it for Lending Club (but might for Prosper)

Peter has a really nice section for new borrowers that goes into more detail about getting a loan.  You may want to read this over and see where you're lacking.
Investors - LC / New platform features
« on: December 18, 2013, 12:00:00 AM »
"I honestly do not see the point.  There's no 'Buy' button on that page, so the only way to buy a note is by using the checkboxes in the list, and that list already contains all the info right there."

Since I use Interest Radar, this information does not show up when looking at a note.  So I finally just got around to checking it out on the Folio Platform.

My first impression was exactly like Core stated.  It's just a repeat of what already shows up on the list.  So, what is the idea behind this? 
Investors - LC / Beware the 20th of March
« on: December 11, 2013, 12:00:00 AM »
I don't know, but this really seems like a case of "User-Fault".  Meaning, nobody forces you to hit that "Buy" button regardless of whatever stunts the sellers might be using!

0% returns?  C'mon!  The newbie investors at the Hellen Keller school are getting better returns than that!

Your post, though, isn't without some merit. 

I'm still seeing notes that are "Processing" up for sale on Folio.  So yes, the cheats are out there.

My inventory of speculative notes is still down 65% of what it was end of October.  The Interest Radar melt-down surely didn't help as I was unable to buy any note during that period.  However, I'm still having problems finding notes that fit my criteria.  I also noticed this right before the meltdown, too.  This has been forcing me to buy notes that I would have otherwise passed on in October.   So yea, I am taking more risk, and I have a feeling that will begin to catch up with me come January.

As far as Buy/Hold notes?  I haven't had much of a problem there.  As a matter of fact, shopping for these notes has been pretty fruitful.  I just wish I had more money!  My IRR for these notes is right around 13.8%.  I have just a few late notes.  I've only been forced to sell 2 sour notes on Folio since June and I've had no defaults.

Investors - LC / Lending robot
« on: December 10, 2013, 12:00:00 AM »
This is all warm and fuzzy, but Fred's question from the 5th has still gone answered.

"Do you plan to provide an interface to the secondary market (FOLIOfn)?"
Investors - LC / Understanding Your Returns Page
« on: December 06, 2013, 12:00:00 AM »
"Please make sure we are aware of the following disclaimer on the top of page ( :"

I got this graph and could not figure out what the hell it meant!  Now I just realized my graph doesn't have the little, light blue dot.  I'm figuring it's because I trade on Folio.

Fred.....does yours have the little, light blue dot?

It's not fair.  I want a little, light blue dot, too   :'(
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