optimist
Member of DD Central
Posts: 122
Likes: 72
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Post by optimist on Mar 17, 2021 19:01:45 GMT
Yes, you are quite right captainconfident, I don't get it. What I don't get is this: 1. Why the MD, Danraj, states he'll ask for the loans to be updated and nothing happens? 2. Why there are several requests for information on defaulted loans on the internal ReBs loans discussion boards and nothing happens? 3. Why I continually email ReBs for information on defaulted loans and nothing happens? 4. Why the defaulted loans are classified as in "Recovery" on the ReBs loan book if they are not worth pursuing? If ReBs believes they are not worth pursuing why are they not written off and their estimated recovery values removed from my "Net Worth"? As for the remainder of your post, I couldn't agree more. However, I find it difficult to move on when there are a large number of loans in a state of limbo and "My Dashboard" showing a possible recovery value. The lack of updates could be a result of no progress in recoveries.... but I share your concern about the silence in general. The last loan was filled nearly 2 months ago, but it is still sitting on marketplace. Silence is not a good sign. Apart from that Rebs worked well for me so far. I have a very small portfolio there, but despite 30% of defaults 'net return' is still 11.92%. Q*_C*******S took 4 months but there's been a Pandemic, Brexit, the company was in Ireland and they came good in the end also "Lenders will earn interest from the day after the auction closed"
Updates should be more frequent but the return on investment has been incredible this past 12 months. I wonder how much it costs to chase good loans (good return) vs chase bad loans (poor return) vs update people (no return) and what our choice would be if we paid hard cash for each function.
I've been lucky this past 18 months and if I was looking at a bunch of losses, and with poor comms, then my opinion of RBS would rapidly deteriorate.
From my perspective today, a heartfelt thanks for all your hard work RBS
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Post by captainconfident on Mar 17, 2021 19:48:34 GMT
Rebs is like The Morning Star. Nobody really knows how come its sill gong and how its finances hold up. But the fact is, its still there, years after people were baying for it to fail. Never invest what you can't afford to lose, and I still chip in for each new loan and I think of this platform as a little modern miracle.
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Post by df on Mar 17, 2021 21:37:21 GMT
Rebs is like The Morning Star. Nobody really knows how come its sill gong and how its finances hold up. But the fact is, its still there, years after people were baying for it to fail. Never invest what you can't afford to lose, and I still chip in for each new loan and I think of this platform as a little modern miracle. The same here. I've signed up 4 years ago and chipped in for almost all of them since. The state of SM has never shown any sign of exodus, not been affected by Covid - everything was still maintaining ridiculously high premium.
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Post by captainconfident on Mar 17, 2021 21:57:32 GMT
Rebs is like The Morning Star. Nobody really knows how come its sill gong and how its finances hold up. But the fact is, its still there, years after people were baying for it to fail. Never invest what you can't afford to lose, and I still chip in for each new loan and I think of this platform as a little modern miracle. The same here. I've signed up 4 years ago and chipped in for almost all of them since. The state of SM has never shown any sign of exodus, not been affected by Covid - everything was still maintaining ridiculously high premium. I was wondering, df, I missed the last loan offer. I am signed up for emails but the Rebs machine didn't fire. Are you still getting the notifications?
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Post by df on Mar 17, 2021 22:26:47 GMT
The same here. I've signed up 4 years ago and chipped in for almost all of them since. The state of SM has never shown any sign of exodus, not been affected by Covid - everything was still maintaining ridiculously high premium. I was wondering, df , I missed the last loan offer. I am signed up for emails but the Rebs machine didn't fire. Are you still getting the notifications? Yes, I get all of them. Double check if you've ticked "Subscribe to receive a notification for each new listing which goes live on the platform", if it's ticked then something in Rebs machine must be broken and needs fixing.
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optimist
Member of DD Central
Posts: 122
Likes: 72
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Post by optimist on Mar 21, 2021 17:38:50 GMT
I guess I should have said, 53 loans, 0.15% defaults and 18.72% gross return. I know others with similar returns.
Cost of investment was around 6% to achieve diversification (which was not easy) but that's dropped over 18 months from buying on the PM and subsequent sales on the SM.
My only gripe has been losing the premium and interest when purchasing BBG on K***o who started paying again later. Some people would prefer not to have late paying loans, I don't mind so long as they pay after a few months.
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Post by danraj on Mar 24, 2021 0:58:31 GMT
Thanks for the kind comments, I'll be sure to relay them to the team.
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