p40l0m4r
Member of DD Central
Posts: 63
Likes: 16
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Post by p40l0m4r on Apr 11, 2017 20:32:15 GMT
Honestly I cannot understand borrowers accepting loans with 60% offered to investors (and how much applied to borrower?) with duration of 3 years, even with an acceptable high credit score.
- They are already thinking not to pay off?
- They may like to donate interests to unknown people for sense of benefaction?
- The credit access in Slovakia is the hell in the world?
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Post by D. Antav on Apr 11, 2017 20:56:25 GMT
DoubtsBy other hand, its an older P2P lending Platform and is rare that nobody omaraha staff around here (nor does it seem to be popular among investors in the forum, why?) or they were in altfi awards ( non-transparency and opaque for money laundering or dark reasons?). Where did you see anything about money laundering or other dark reasons? I have not read of anything like this before about Omaraha. I do not want to say too much, because everything comes out in due time ... internet (in "pro" searches) also represents a valuable source of information.Thats all. But I am an optimist: this situation also has advantages. In this way, we gain a little more all parts and we can indirectly increase benefits.
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Post by pedrolopes on May 31, 2017 10:16:17 GMT
Greetings
For a while I thought that Omaraha was a really shady company, but still I invested a small amount of money just to test it (initially just 100 Euros) in Slovakian and Estonian loans. As everyone can expect I lost some capital, and my suspicions were confirmed: their interest rates are that high because those loans are trash, therefore I should just pull out of there, but then upon closer analyses I noticed that the Estonian loans were actually a good investment, they could yield around 15% a year, so I stayed, but never deposited much money there. Since then I recovered the capital that I lost with Slovakian loans and grew above that line an extra 20% in the last year and half. Of all the 13 platforms where I have invested money, Omaraha is the 5th most profitable.
I still do not fully trust them, maybe because their platform is horrible, they need to rebuild their website. Their current website is just not usable.
I think they have improved a lot in costumer support and the quality of the Estonian loans impressed me positively.
However I noticed that they do some obscure maneuvers with the loans from external loan originators, for example, in December last year I purchased several secured loans (loans with full buyback) from one of the Loan originators " SIA Best Lizings" and they bundled all of those individual loans into 1 single loan... initially when I saw an investment of 70 Euros I imagined that Omarahe was investing my money in loans without my authorization, later I realized that they had just bundled together 7 loans of 10 Euros into a single (I am just not sure If they preserved the initial interest rate or if they rounded it down), probably all 7 loans had the same interest rate. I don't know...
I no longer invest in secured loans at Omaraha because the interest rates are just too low, I can get better returns at Omaraha investing in normal loans ( only Estonians grade 800+)
Invest with caution.
Best Regards.
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Post by extremis on May 31, 2017 16:43:01 GMT
Of all the 13 platforms where I have invested money, Omaraha is the 5th most profitable. Very interesting! I was wondering what is your top 3 platforms in terms of profitability. I have been thinking for a long time now to join Omaraha, but the lack of SM has hold me back; when they implement a SM i will definitely give them a try.
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Post by pedrolopes on Jun 1, 2017 0:04:26 GMT
Extremis, Greetings,
I used to do a weekly gathering of information on all my P2P accounts in all platforms, and use that information to determine how much money I had effectively earned during the week, unfortunately my job became too demanding after July last year, I had no time anymore, so I stopped gathering information consistently, I only sporadically checked the platforms performance. Until January 2017, when I restarted to compare my P2P investment performance again, so for the entire year of 2016 I do not have sufficient data, however since the beginning of this year I keep an spreadsheet with the performance of my p2p investments. I can tell you how profitable they have been for the last 3 months (you can extrapolate that value for the entire year if you want, but it will not be accurate) My platforms in regards to profitability (actual paid interest on capital invested, minus defaults and fee), based on the last 3 months data: 1 Finbee 4.65% (the star of all my investments so far) with an amazing 4.65% in the last 3 months. 2 omaraha 3,95% 3 estateguru 3,66% 4 mintos 3,46% 5 savy 3,41% 6 twino 2,82% 7 viventor 2,11% 8 swaper 1,99% (too soon to tell, I've only been using it for 2 months) 9 viainvest 1,88% (too soon to tell, I've only been using it for 2 months) 10 fellowfinance 1,85% (not worth it) seeders 0 (the project that I invested in is a very long term investment, I don't think they are suitable for small/medium-size investors) investly 0 (this platform is inactive as far as I can tell, I only have 20 Euros left in there) crowdstate 0 (the only project that I invested in has not paid interest yet) bondora -2,58% the worst P2P ever and the only one that ever made me lose money! To all newbies in P2P investments: Stay away from this one!!!
You can notice that omaraha is shown there in second place not in 5th as I mentioned before, that is because the last 3 months have been extraordinary, because neither one of my omaraha loan investments have defaulted during that period (but that is an abnormal situation). I stopped investing in Slovakian loans during 2016, and still had some defaults from Estonian loans happening at that time, which means that Estonian loan defaults are likely to happen again in the next months bringing down the total interest rates. I remember that in November 2016 Omaraha was in 5th place.
You also have to take into consideration EstateGuru's extraordinary performance, which is only a coincidence, not a sustainable result. There was a project approved by EstateGuru that decided to pay twice the interest rate, you can check it if you want to "Mardi apartments in Tallinn City Centre - 4.stage" instead of paying 10% interest as they had planned they payed 24.64%, this made my account boost its revenue considerably, also because I was still testing the platform so I only had around 12 active investments there.
I expected more from Savy this trimester, as It was better last year, but they had some loans that defaulted bringing the result down.
Twino Could be significantly better if I was constantly checking the platform and manually investing instead of relying on the Autoinvest mechanism that does not always work, so a lot of money stays uninvested for many days, sometimes an entire week.
Realistically you cannot expect more than 13% per year in most platforms, unless you are whiling to take too much risk and in most cases that means you will end up investing in something like Bondora and being burned by the experience.
Keep in mind that this is my experience, it does not mean that you will obtain the same results if you invest in these platforms, specially the platforms where you have to cherry-pick the loans.
Best Regards.
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Post by buttchopf23 on Jun 3, 2017 13:43:20 GMT
I can second what pedro told us about omaraha. My low graded slovakians went all bust without paying a single cent. To be fair I have to admit that my sample size is too small to draw any conclusion out of it. My gut feeling though tells me there is no money in there. Estonian loans perform very good on the other hand. More details here on my blog (which contains referrals) in German or English
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JamesFrance
Member of DD Central
Port Grimaud 1974
Posts: 1,317
Likes: 893
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Post by JamesFrance on Jun 3, 2017 16:10:49 GMT
It seems very dd that they started in Slovakia. They must have known that it was a disaster area for Bondora. I doubt they can sell the defaults on as there is no sign of recovery for the Bondora loans I still hold, none of which are making payments..
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Post by buttchopf23 on Jul 2, 2017 14:04:13 GMT
On monday first finnish loans should appear on the platform. Some thoughts on my blog (which contains referrals)
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Post by clandestino52 on Jul 24, 2017 18:04:42 GMT
I'm investing for 1 year now. Too many defaults. It didn't compensate the high interest rates. Doing some maths the conclusion is that with 12% buyback guarantee other platforms are winners.
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Post by D. Antav on Sept 28, 2017 17:40:11 GMT
Omaraha has several dark areas that they should be explain for increase the confidence. Its a pity but ther are not fair and transparents.
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Post by moneymakingmoney on Nov 14, 2017 1:40:41 GMT
I'm guessing something is there and omaraha could be good. It's just that the extremely long loans and the higher default rate is killing the platform. So far I've invested 100 euros to test it out, but within 3 months, 2 slovakian loans have defaulted 2 are well on their way to default, but let's see how it will develop. Estonian loans are doing fairly well so far, but payback is long and tedious. Investing on omaraha feels very much like gambling. The warranty fund is like a baby version of a buyback guarantee. Put in 10 euros, get 6 back. Still not sure whether to exit or to keep on testing just for fun. Overall I personally wouldn't invest any more at the time unless I find some golden formula. I see some people raking in 20% interest on Omaraha and I'm very interested in your magic recipe for this platform.
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Post by kilozulu on Nov 14, 2017 6:39:40 GMT
I'm guessing something is there and omaraha could be good. It's just that the extremely long loans and the higher default rate is killing the platform. So far I've invested 100 euros to test it out, but within 3 months, 2 slovakian loans have defaulted 2 are well on their way to default, but let's see how it will develop. Estonian loans are doing fairly well so far, but payback is long and tedious. Investing on omaraha feels very much like gambling. The warranty fund is like a baby version of a buyback guarantee. Put in 10 euros, get 6 back. Still not sure whether to exit or to keep on testing just for fun. Overall I personally wouldn't invest any more at the time unless I find some golden formula. I see some people raking in 20% interest on Omaraha and I'm very interested in your magic recipe for this platform. Slovakian loans for Omaraha were a failure same as for some other platforms. Esrtonian loans used to be great, but now the rates have dropped due to influx of nerw investors too much to be interesting anymore. Effective rate you would get at current rates on good Estonian loans after subtracting writeoffs would be in range of 10-15%, so no more advantage versus say Mintos 14% bybacks. My legacy portfolio is still bringing in 20%, true, old good days
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omaraha
Nov 14, 2017 7:22:49 GMT
via mobile
Post by clandestino52 on Nov 14, 2017 7:22:49 GMT
Slovakian loans are horrible. They defaulted almost all.Mainly those of 6 months term. I'm exiting the platform. I'm lucky that I got some estonian loans 1 year ago that perform better and didn't loose my capital. But estonian loans are rare now in the platform.
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Post by moneymakingmoney on Nov 14, 2017 10:37:46 GMT
I'm guessing something is there and omaraha could be good. It's just that the extremely long loans and the higher default rate is killing the platform. So far I've invested 100 euros to test it out, but within 3 months, 2 slovakian loans have defaulted 2 are well on their way to default, but let's see how it will develop. Estonian loans are doing fairly well so far, but payback is long and tedious. Investing on omaraha feels very much like gambling. The warranty fund is like a baby version of a buyback guarantee. Put in 10 euros, get 6 back. Still not sure whether to exit or to keep on testing just for fun. Overall I personally wouldn't invest any more at the time unless I find some golden formula. I see some people raking in 20% interest on Omaraha and I'm very interested in your magic recipe for this platform. Slovakian loans for Omaraha were a failure same as for some other platforms. Esrtonian loans used to be great, but now the rates have dropped due to influx of nerw investors too much to be interesting anymore. Effective rate you would get at current rates on good Estonian loans after subtracting writeoffs would be in range of 10-15%, so no more advantage versus say Mintos 14% bybacks. My legacy portfolio is still bringing in 20%, true, old good days Seems my gut feeling was right and it's better to remove Omarahe from the portfolio. Thanks for the input
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Post by gugulete on May 16, 2018 10:23:25 GMT
Hello everyone,
I'm new to P2P, I'm trying to diversify my investment in as many platforms as possible from different countries with different business models, so one of the platforms I would like to invest in is Omaraha, but I have a few questions:
- If I use Auto Invest, the loans listed on the "Loan applications" page are the only ones, or are there loans that do not appear there but are directly auctioned through Auto Invest? I ask this because there are many loans with low interest rates, different to what you where saying, older investors as it was in the past.
- The interest that is listed on the LOAN APPLICATIONS page, in relation to each loan, is the interest I can invest, or is the maximum interest rate, where the auction starts ?
Thanks in advance
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