Penny picker, you're a legend.
Printable View
Penny picker, you're a legend.
Would like to hear what other people do with the Investor monthly Downloadable Data from the LC site?
How do you use it? How do you splice and dice it? What do you learn from it? Are you using XL only?
New loan listed TUE late arvo:
Attachment 8178
I use Gnucash (www.gnucash.org). Split all the info into different accounts (deposits, interests, tax, fees etc.). Then it's easy to see monthly progression of net income.
Just had a another further 2 x Loans repaid early overnight.
That now makes 5 x loans repaid from Monday to Thursday this week...
Perhaps now the total shifts to about 15% repaid...
[QUOTE=Saamee;629135][COLOR=#333333]Just had a another further 2 x Loans repaid early overnight.
Yeah had those two as well ... for me; that makes four repaid at 1cent short on the principal ... it's like I'm aways drawing that so called short straw!
On these two loans was your repaid principal short, even or generous?
Loving the Provance alerts.
There is one loan up at LC right now with about 1K left to go.....
1 Small loan up there right now!
Funded Time remaining Grade Rate* Type Term Amount My investment 14 hours and 18 minutes B1 14.79% Personal 60 months $4,250.00
New just up now.....
Funded Time remaining Grade Rate* Type Term Amount My investment 20 hours and 44 minutes B2 18.74% Personal 36 months $3,250.00
Looks like it came in between 14:50 and 13:15 when Provance picked it up. I received my TXT at 13:15 and it reported the loan was already 22% full.
I'll see what I can do to reduce this period and therefore improve our chances; I suspect though that the reason they can fill so quickly is institutional investors getting first dibs (likely via an API or internal notification system). From (anonymous) data I've seen on my other site that graphs Harmoney loans (Precis), there are definitely some big hitters out there. Not surprising they're getting in before us retail investors.
Hopefully Provance helps you guys miss fewer loans. We're over 30 active users now, feel free to spread the word.
(Before completing this post the loan is fully funded.)
PP.
New loan >
Attachment 8188
I am obviously in the wrong business. I have never been able to make more profit than I have had revenue. Current loan L00-11-187- Revenue between $100000 and $250000 yet is able to achieve a profit of between $300000 and $500000.
How much time a day ( hours ) do you reckon you spend checking out your P2P Investor websites?
How many times a day do you Log in to LC or HM or LM?
I reckon upwards of 1 hour a day \ Checking Accounts \ Looking for new Loans \ Moving Funds in & out etc
Nice work mate - uncanny timing as I was just about to stitch a little tool together to do this for personal use. I'm assuming its going to carry a fee once out of beta to cover the SMS gateway fees? Am assuming the data capture is cleared with LC - if not a screen scraper may run into issues with their TOS.
Cheers!
New Loan....
Funded Time remaining Grade Rate* Type Term Amount My investment 56% 6 days and 22 hours B1 13.97% Personal 36 months $5,250.00
Thanks mp52.
1. The service is free at the moment and that's the way I imagine it'll remain; I have polled a few of the early beta users on payment models and it's tough. See, I probably wouldn't pay for it, but then my volumes are very small. Larger volumes = more in the bank = potentially more cash drag = incentive to move into loans quickly. These users might see a monetary value in the service. I think the strongest option is a one time donation, $10 or $20, if users feel like they're getting value it's up to them if they want to contribute. What I don't want to do is take money if a) it really puts me off side with LC management and b) LC provide an auto-invest option just after the cheques clear :) (I probably would give myself a donation if that was the model.)
2. No strictly speaking I'm in breech of the Web Site Terms of Use; So I've pinged them an email explaining the situation, just so there's no doubt, I want to be above board here. Not sure why this slipped my mind, when I started down a similar path with Harmoney, their upper management had no issue with a breach in terms. Guess in the speed to getting a product to market here I missed communicating with LC :/
(It'll be out of beta by Monday after I address a couple of glaring Internet Explorer bugs.)
Attachment 8193
PP.
Thanks Saamee. Seeing the number of user accounts climb is 'like' enough :)
If it's of interest to anyone 'Provance' is a contraction of 'Proactive' and 'Advance' (e.g. advance warning or proactive notification). And there's about 200 hours development work behind it, evenings and weekends.
Hi PP, I'm a bit late to the party here as I'd pretty well given up LC as they never seem to have loans available when I log in.
Sounds like you have the solution and I was wondering how I can join the club.
Thanks for that, Whitt. I actually got a message from PP with the instructions too. Much appreciated.
Ha ha... Now many of us are Provance users... We eagerly await the next LC Loan to appear and be notified.... BUT a very quiet new Loan weekend again @ LC!!
Hi PennyPicker
I Do appreciate the time involved and look forward to seeing your Harmoney heads up txts as well.
I'm happy to donate a little to go towards your time involved in putting this together.
Please let me know how this donation can be actioned/achieved!
Hi PennyPicker,
I would be happy to donate a little as well for your hard work and excellent service. I would say put up a donation link on your website. Awaiting to hear from you. Thanks!
Two loans paid off today making it 10 out of 71. I have been transferring funds as they come due from Harmoney to LC now for a month or so and am finding that I cannot invest enough in to LC to keep all funds invested. This is even as I am doubling the amount in each loan compared to Harmoney.
Your "Paid Off' rate is very high @ almost 15%....
I was also in those 2 Loans repaid overnight.
My 'Paid Off rate is still tracking @ 10% with LC
We have no control over Borrowers repaying early - we just have to accept this as part of P2P Lending as an Investor!
By the way - Give me a 'Paid Off' loan over a Default any day!! :)
mine is exactly 15%. 9 paid off from 60 loans. Only started in January this year. I rather like early repayments - it means that should we need the money, we do not have to wait 3 to 5 years! Amount invested is increasing but still a small fraction of what I invested in Harmoney.
Correction!!! I had added the two recent paid-offs when they were already in the calculations. So my revised figures are more in line with others. ie. 8 paid off out of 69 loans. So that's no so bad, and I agree that pay-offs are ok as far as withdrawing funds go, especially as I have twice as much in Harmoney as LC so it should not take too long to even the investments out. And that is my goal in the meantime.
New loan @ 17:15
Funded Time remaining Grade Rate* Type Term Amount My investment 6 days and 18 hours B1 14.79% Personal 60 months $11,250.00 $0.00
Yes - Just look at your investing into LC as a Long, Slow Drip Feed.
Probably good, as it kind of acts like a Brake, slowing you down, allowing you to watch and reappraise LC whilst not making too many quick mistakes!
Like I would say I did over at HM.... ( not knowing the future about high # of Re-Writes & more... )
An interesting write up on P2P in todays Stuff....
http://www.stuff.co.nz/business/mone...opeer-investor
A small 6K loan now up....
Funded Time remaining Grade Rate* Type Term Amount My investment 6 days and 21 hours A2 10.96% Personal 36 months $6,250.00
Commission is just another business expense as is broking fees when you buy and sell shares.
11K currently up for grabs....
Funded Time remaining Grade Rate* Type Term Amount My investment 63% 6 days and 23 hours A2 10.96% Personal 36 months $11,750.00
Funded Time remaining Grade Rate* Type Term Amount My investment 63% 6 days and 23 hours A2 10.96% Personal 36 months $11,750.00
Small 5K loan listed >
Funded Time remaining Grade Rate* Type Term Amount My investment 54% 6 days and 16 hours B1 13.97% Personal 36 months $5,250.00
Hey mate, yep really sorry about that. Saamee alerted me to the problem but unfortunately it was 87% funded and by the time I rejigged things the loan was full. I'm working on a fix now that'll go live in the next hour or so. I'm implementing a feature ensure this never recurs.
PP.
Thanks PP for your quick help as always. You rock!
Hey PennyPicker,
Thanks for the reply and excuse the late response.
The donation model sounds pretty good - preferable for more modest investors who might not see brilliant ROI on a subscription model. I suppose you a freemium model could work with delayed data for the free plan but the loans are filling so quick it'd be hard to make that work without frustrating the new adopters on the free plan. So far there haven't been enough loans coming through for me to utilise the service fully though I'm not sure its working correctly as I didn't receive TXTs for any of yesterdays loans (have received one since joining start of this week).
Good stuff - would be annoying to do all this work and then get hobbled at the source.Quote:
2. No strictly speaking I'm in breech of the Web Site Terms of Use; So I've pinged them an email explaining the situation, just so there's no doubt, I want to be above board here...
Keep up the great work!
Hi mp52, I'll take most off this off-line; but for the group;
A bug (now fixed) let the 7pm loan last night creep through without a notification going out. I know this is the only of it's kind and it won't happen again. I'll follow up on why you didn't receive a message for the earlier loan.
I've spoken to one of the founders and he acknowledges the breach, but is OK with what I'm doing here. He was really good about it. So as I told him, "I'll continue to tinker".
PP.
PP's service is provided to our LC community for free.
I view the service as additional to still making sure I'm logging in myself... regularly ( at least 2 time every hour )
PP's offering us a service that I have always thought ( and also requested from multiple times ) LC & HM should be offering.
Hell, Marcus ( CEO ) from Lends Me can send a personal Email to me and update me regarding a loan that fits my criteria is available...
I guess as long as LC & HM always have more Investors ( and their money ) than there are loans, they will never see the need to offer Alert Notifcations for their own products.
To boot.... With an almost 'Locked In' interest rate cut next week, the Investor Returns with LC & HM look AMAZING!
What are the driving reasons for your P2P investments?
I wonder if anyone else would like to enter into this and share...
For me it is three fold:
#1) Obviously to return a Higher interest rate than any high street bank
#2) To be more diversified - an alternative to NZ Property, Bank Term Deposits and Shares
#3) Build a passive income stream from P2P be double the weekly NZ Pension
I still have the best part of a decade left to achive that!
A slow weekly 'Drip Feed' into new P2P loans, built up over a couple of years.
Any other takers out there???
Good question Saamee...
- Diversification in addition to cash/bonds/shares
- High ROR over other investments
- Passive income stream for retirement
- It's a bit of fun, figuring out the key drivers to maximise return while minimising defaults (work in progress!). (If I'm not above platform RAR I'm not getting the results I want. Yes, a little competitive ;))
Why? Many of the same reasons. But mostly, because I am retired and was trying to live off the interest from bank FDs -- which was OK until interest rates started dropping. I still have FDs of 4.5 and 5.5 % until next year, so am starting to build up a portfolio of LC loans to test whether this would be a reasonable, reliable, way to fund the rest of my retirement. Thus, I am focused on more conservative LC loans that will suffice my income needs. No real need to increase capital. So,
1. Income to live on in a low-interest environment
is about the only reason.
my reasons are the same
diversification
trying to increase returns on portfolio as interest rates are so low
and also a bit of fun trying to increase RAR (esp on Harmoney) - like PP, I do try to be above the platform RAR. With LC, I am just happy with my current 12.60 and not looking at trying to make it higher or lower by taking more or less risk. I just look at each loan on its own merits and invest the same amount in every loan.
I am also above the RAR on Harmony, but having only joined LC find there are not many loans to invest in.
Another quiet weekend again for any new Loans appearing @ LC...
Latest is a car loan for 45k.you can get a really good car for that price
Small 8K loan up now.....
65% 7 days and 1 hour A1 7.90% Personal 36 months $8,750.00
New loan this evening already 58% filled....
Funded Time remaining Grade Rate* Type Term Amount My investment 58% 16 hours and 15 minutes A2 10.96% Personal 36 months $6,250.00 $0.00
Neither did I.
Hi team, the only reason I can see that this wasn't alerted on was because it came and went so quickly. Would that be the case? i.e. was it only active for maybe 30 minutes?
Hi, got your PM regarding missing notifications. Will sit tight for now as I got the alert on the 8 Aug for the A1/8.42% (via email) and like others have reported got no alert on the 9 Aug A1/7.90%. Will see what happens over the next day or two.
In terms of loans filling too fast for the polling interval of the app - could be the case. Can you push the interval frequency up without ruffling LC's feathers!
Loan was still available after 9pm but with only $200 left.
How well!! Overnight 1 x Borrower chnaged their mind and Cancelled the filled loan and I had another early repayment also!
New loan @ 6.20pm
Funded Time remaining Grade Rate* Type Term Amount My investment 6 days and 17 hours B2 19.36% Business 36 months $10,250.00
Funded Time remaining Grade Rate* Type Term Amount My investment 6 days and 17 hours B2 19.36% Business 36 months $10,250.00
Are other people getting complacent with these loans now also?
I began reading all the data about each borrower but have begun to find 100% have met my investing rules.
I am beginning to not even read data before investing now.
Hi Whitt,
Complacent No.
However understand your sentiment, I agree that the quality of the loans offered by LC does seem high ( time will tell or rather timely loan repayments being made! )
I still read ALL the info and on occassion have found a few errors in the data provided by LC in the listing.
Rgds Saamee
The quality of loans is amazing when you compare it to the Harmoney garbage I am used to investing with.
Now I have many choices.
Lower returns but secure and higher quality, lending crowd
High returns, unsecured, low quality Harmoney.
Hopefully they both stay this way as it makes investing much easier.
Yes, I'm just soaking these up. Is the scarcity affecting my decision making...
A loans just listed
Thanks, I see that I've received the repayment yesterday. Seems my brain can't keep up with all the deposits, orders, repayments etc. going on.
Mine was loan -387
What does everyone think of 36 month A1 loans @ 7.9%? Squirrel offers up to 8.5% for 36 month loans as well as loan shield, secondary market, no extra interest flex to pay. So I reckon Squirrel have a better offering here, and loan shield is better than security against vehicles/property in protecting against capital loss?
Inetresting question to ask today!!
RBNZ lower interest rate to 2%...... Nearly 8% sounds very good....
Joking aside, I get you.... I tend to not invest in the 7.9% loans because you know there is a higher rate loan around the corner.....
BUT an near 8% return is an near 8% return........ Much better than money in the bank!
New loan available....
Attachment 8216