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Author Topic: Groundfloor Annoucement

E
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Groundfloor Annoucement
OP: September 09, 2017, 11:00:00 PM
I got an e-mail from the CEO promising a big announcement on September 12th. What do we think that is?

I am much more bullish on them at the moment.  I have had a ton of homes pay off this month including one that was in default. I now have invested in about 60 properties. And 21 of them have been paid back in full. That was about 1000 dollars as an investment and I got $50 in interest. That is not as good as Lending Club. For my 2000 dollar investment there... I have gotten about $150 dollars in interest.  This is all since January 2017.

The issue seems to be that Groundfloor investments do pay off early a lot. If I immediately reinvest I am all set but, at the moment, they have nothing to reinvest in.

They also announced that they are limiting the amount of money any one investor can put in. I think that makes some sense. But do wonder if it will cause the properties not to be funded quickly.
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Groundfloor Annoucement
#1: September 09, 2017, 11:00:00 PM
I'm guessing they will say they raised some money (equity) to fund expansion.

They've gone back and forth on the size limits for investments.  This latest limit is 5% of a loan, which will cause difficulty for larger investors.  I explained to them the Prosper scheme of limiting any one investor to 10% until the loan has been sitting in funding for 1 day, at which time the limit is automatically removed, and suggested that they might do something like that.
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j
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Groundfloor Annoucement
#2: September 09, 2017, 11:00:00 PM
My guess was something along the boring ereit route or a way to auto invest.  Funding is probably much more likely though.

Yeah my cash is building up.  I just checked and I'm at over 10% cash right now.  They best get some more loans out there.
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T
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Groundfloor Annoucement
#3: September 11, 2017, 11:00:00 PM
https://twitter.com/groundfloor_us/status/907597831896272902

Groundfloor Announces $100 Million Expansion Of Lending Capital With Direct Access Capital

So they have no loans for us to buy and the big announcement is they are selling the loans they do have to someone else?  Snore.
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T
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Groundfloor Annoucement
#4: September 11, 2017, 11:00:00 PM
Gold star to Fred.

Ahh snoozer of an announcement. I truly don't care how they get my investments just get them and have them be good.
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T
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Groundfloor Annoucement
#5: September 12, 2017, 11:00:00 PM
So in a later e-mail to me yesterday they did throw out the idea of loans with monthly interest.

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T
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Groundfloor Annoucement
#6: September 21, 2017, 11:00:00 PM
More payments today and still no new loans :(
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