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Messages - lender_john

#16
Investors - LC / Recoveries
May 21, 2013, 11:00:00 PM
#17
Investors - LC / Folio Folks - Remind me
April 22, 2013, 11:00:00 PM
I generally prefer notes where the premium does not exceed the interest due at next payment. So usually no more than 1-2%. However I do occasionally buy notes with a higher premium and I often sell notes at a much higher premium
#18
Investors - LC / Finally had my first defaut—
April 17, 2013, 11:00:00 PM

There are a few problems with the loan that would keep me from investing, but I wouldn't have expected only one payment. Sounds like someone may have tried to game the system or there was some extraordinary event..

Two inquiries, high payment relative to income, loan doesn't cover half the revolving debt, high DTI and it is FL.

#19
I'm used to seeing 100s of notes each week that meet most of my criteria and purchasing a few of them at a time.

In the last two weeks or so, next to nothing.  I don't know if there are less people selling or more buying, but I just don't see too many lately.

I know it can't be just me, because some of my notes have sold at a significant markup over the last week.
#20

I think its quite feasible to profit from the secondary market, I'm certainly managing.

My strategy is generally, buy and hold while offering for sale.

I look for notes that are either good long term investments or undervalued by the seller.

I also use selling as a way to rebalance my portfolio.

#21

A note will generally sell for the right price. Given enough of a discount very late notes will sell and help mitigate your loss.

However if you are likely to continue to acquire notes at the same rate I wouldn't bother selling 'grace' or 'late' notes unless you are willing to devote a substantial amount of time to it.
#22
Investors - LC / Sell / Hold ?
January 14, 2013, 11:00:00 PM

I would try to sell both of these.

I think that they are likely to keep paying for a while and wouldn't sell them for fear of default.

I would get rid of these simply because I don't think they are good notes.  There are a few items that concern me, including no verified income, credit inquiries, major derogatory, location etc. 

These factors combined with the fact that its in grace period would lead me to try to get rid of them (or never buy them in the first place).

Of course if I held an obscenely large number of notes I probably wouldn't bother with each note that goes into grace period.


#23
Investors - LC / Best tools for Secondary Market?
December 31, 1969, 06:00:00 PM

I live in one of those states too and we are definitely at a disadvantage compared to those that can invest directly.
That said, after a few initial blunders, I am managing reasonably well.

I tried a few tools, but ended up going without them once I figured out exactly what I was looking for.

I would caution against buying notes at too high of a markup. It may seem that a 3% markup is not that bad, but its a 3% markup over principal and interest.

It may seem like a good deal when the note that you just paid when you expect to get $13 in interest over 5 years..
However it may take you up to 3 payments just to break even based on the higher price.  There is also a small, but real chance that the loan will go bad before you break even.

On the other hand using FolioFn exclusively provides a small advantage.  Since you buy notes all the time, you know a bit more about what will sell and what may not than an average LC investor.

I wouldn't say that I make a significant amount selling notes, but I am generally able to at least make up for any losses.


#24
Investors - LC / Borrowers with >$20,000/month Income
December 31, 1969, 06:00:00 PM
https://forum.lendacademy.com/index.php?topic=609.msg2494#msg88888888Quote"> from: viking on January 06, 2013, 06:47:19 PM
#25
Investors - LC / Still having trouble with Foliofn
December 31, 1969, 06:00:00 PM

I just had over 1000 notes cancelled... this is more than a bit annoying..
#26
I wanted to get your thoughts on loans where there is at least one public record on file.

Normally I completely avoid those for obvious reasons.

What do you think about notes where the public record was around 10 years ago and everything else looks great (for whatever your personal selection criteria may be) ?

There is a certain argument to be made that someone who recovered from bankruptcy and now works hard to be financially responsible, may be as safe or a safer bet than an average borrower.
#27
Investors - LC / Still having trouble with Foliofn
December 31, 1969, 06:00:00 PM
https://forum.lendacademy.com/index.php?topic=519.msg1610#msg88888888Quote"> from: yojoakak on December 04, 2012, 10:00:33 PM
#28
Hello everyone

My name is.. lets say its John.

I have been investing with LC since May 2011 and unfortunately I live in one of those states that doesn't allow direct investing and I have been stuck with using the unfortunate FolioFN platform.
#29
Investors - LC / Still having problems on Folio
November 13, 2012, 11:00:00 PM

I'm seeing the same problems and this is very frustrating.  I would suggest emailing and calling them anytime there is a problem.
It helps if multiple people complain about the same thing.

Try to be as specific as possible when you contact them.
Ex.  Note number xyz from loan abc shows up as current on this screen but it shows as fully paid here.