pickles
Member of DD Central
Posts: 94
Likes: 57
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Post by pickles on May 7, 2017 10:24:41 GMT
I'm about 2 years in with FC and my bad debt rate is running at about 50% of gross earnings, with a little over 10% recovered. I was stung with a swathe of defaults last summer, I admit a fair number of these were bought when I first started, on the SM and possibly insufficient DD. Plenty of A+ in that mixture, and I was diversified over nearly 1000 businesses. Some look hopeful, others are clearly dead, if I get up to 40% recovery that would be great.
I changed my strategy to property only, closing out my position on nearly all of those 1000 at premium. Now I have the entire portfolio on the SM, swapping out property for new property, which has brought the overall return from ~5% up to 6.2%. With property drying up and the time involved in flipping I guess I'm out in 12 months, the returns are not great for the effort.
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pickles
Member of DD Central
Posts: 94
Likes: 57
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Post by pickles on May 7, 2017 10:08:19 GMT
I'm new to MT, and so far it looks pretty good. Account information is clear, the site is responsive, everything seems to work, unlike any of the other P2Ps I've been using.
What's not so clear is the operation of the SM. Is it really fee-free? From what I've seen over the last week there's very little SM activity but when stuff is listed it get snapped up pretty quickly. Can it really be the case that you can close out a position quickly and with no cost? Or have I missed something?
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