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Advice please

Started by Peter, February 27, 2016, 11:00:00 PM

Previous topic - Next topic

fliphusker

I have decided to take the plunge into LC this week.  I am a small fry compared to most I guess.  I am 45 and currently on disability, so fixed income.  Currently debt free, and own my own home which needs work.  Around 20k for 3 major projects.  These are not projects that need to be done right now.  While I scrape my pennies together, just looking for an avenue that will not pay me peanuts for interest.
Will start out with about 4k and pump in 300-400 monthly into my account.
I have done quite a large amount of research the past week into LC and strategies to try to maximize ROI.  As I feel I can handle greater risk, looking primarily at C,D,E,F and even G.  Have read a great deal and made filters at NSR.  Ya, got all nerdy and make some big spread sheets carefully to make sure that ROI returns were in decent enough sample sizes to be relevant.

I see a great deal of people using automated sites to snatch up new loans seconds into their listing.  Do you not worry that you will get a percentage of extremely questionable loans?  Like ones whose job title could not be accurate with their income?
Do you still purchase notes that are not snapped up so quickly?
Loan ID: 71757568 I assume that the 2 reasons it was not snatched up so quickly is the credit utilization, the 39 month delinquency and possibly the term?  Could you share a loan in your portfolio that was autopicked that has the same interest rate that is better quality?
Is the main reason people use automated system is to snatch up better quality notes?  Or is it due mainly to time?
I have not found articles that show statistical differences between automated and hand picked, can someone link that if they have it?
Can you tell me what percent on loans are snatched up in the first few seconds that loans are made available?
At LC I can not redline certain states, is this correct?  Nor can I choose using only 2 loan purposes at a time with hand picking notes?
Is it a steep learning curve dealing with folio notes?  Have not looked into that market yet.
I have been unsuccessful in finding a calculator that would spit out interest and principle monthly depending on how much I have invested with a sample ROI, can someone point me in that direction if there is one?  While putting back in X amount per month.

Sorry for the quite long post, and thanks for your reply in advance. 

lascott


Fred93


TravelingPennies

lascott-That was exactly what I was looking for to a tee!!!  Thanks a lot.  I think I am probably overthinking the calc too much. 

Fred-Thanks for the welcome and thanks a ton, man that was driving me completely nuts.  Funny thing is, I have used the CTRL zilliona of times to copy a block section of text, and simply never even though of using it at LC.



Natalie-OBX

Aside from the time savings of using the automated investing services, you are taking the human thought process out of it.  I mean this in a good way.  One of the first things I learned was that I am not smarter than the data.  For example, when I was investing manually, I didn't want to loan on $15,000+ loans.  I preferred to loan to someone requesting a smaller amount of money.  The data shows that my logic is completely wrong.  I could come up with other examples, but I think that's the best one.

Best wishes and welcome!

--Natalie

TravelingPennies

I need to learn to do the fancy replies with quotes here.  https://forum.lendacademy.com/Smileys/default/tongue.gif" alt=":P" title="Tongue" class="smiley" />  I have never been a big forum guy. 
Small Fish-Thanks, I did check out BV, but ended up making an account with LR, as their starting point of fees is 5k.
Raymond-Filtering being trustworthy, I see can easily expand upon your profits.  I have been using 1/1/2011 as a jump off point.  Kinda an arbitrary starting point, but it gives me a decent sample size, and not skewed to hard from the recession of years before.  I ignore sample filters if returns are below 1k notes.  From articles that I have read, that is not too small, do others think it is?  The more you narrow your filters down, the more risk it should take out.  Ya the big issue is seeing that the sample size is too small, becoming irrelevant. 
I have watched the LR release for 5 cycles (quite small sample size), and was quite surprised by the small number of loans that were filled in the first minute, let alone the first half hour.  The last batch of notes issued, none were filled in first minute.  2 were filled at 8 minutes.  Guessing that they were actually filled right away before being posted.  1 other was filled in first half hour.  Was expecting something like half the 81 notes.  (only 14 after 5 hours, 7 of those would not meet some basic filtering.)
Natalie--Could not agree with you more, thus the vast importance of good filtering with stats to back it up. 

Is it possible to have too many filters?  When doing your research, how small of sample size do you go 10k, 5k, 1k?  When you drop money into your account monthly do you have a time frame that you want it to buy notes?  Like a day or week or just throughout the month?  Do you change your filtering criteria if your money is sitting idle for too long or do you ride it out sticking to your guns?

Thanks all appreciate the insight and help.  https://forum.lendacademy.com/Smileys/default/smiley.gif" alt=":)" title="Smiley" class="smiley" />

TravelingPennies


TravelingPennies


brycemason

Educate yourself about the tax implications of this investment. You may be able to generate equivalent post-tax returns with less risky loans.

TravelingPennies

Have a few more questions, as have been delving into more different filters and articles.  And wanted to get a batch before responding to other replies.

I had a big long question here, but finally getting around to looking at PeerCube twitter feed, took care of that.  2 thumbs up Anil!!!

What is the difference between fico range high and fico range low?  I plug in same range, and get 2 different loan counts and ROI. 

If you filter out public records, do you go all public records or just bankruptcies?

When you have done back testing, what is the oddest stat that jumped out at you?  Example-I take out people above 740 Rico and the ROI goes up. 

Looking for info on FOLIOfn, can someone point me to useful articles/strategies?  Do most invest there in tandem with LC or others?  Or just go there to try and dump questionable notes?

And again, thanks for any info, much appreciated. 


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