coda
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Post by coda on Oct 11, 2017 11:07:07 GMT
Hi All,
I would like to know if some members of the forum have in the past liquidated a large MLIA (more than 100 different holdings) and how much time it roughly took? I am guesstimating that I should be able to get most of it by a month with some money stuck in suspended loans.
Thanks for your views!
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jonah
Member of DD Central
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Post by jonah on Oct 11, 2017 11:26:02 GMT
I've not done it, but for an estimate, it would depend on which loans you are in! There are currently 70-80 loans which have parts of offer. If you were exclusively in those it could take a while, i.e. days, weeks or in some cases several months. There are loans which the GBBA has a very large percentage and is trying to sell the lot. Putting your elements in that mix and it really depends on how lucky you are with getting random sales through. Conversely, there are well over a hundred which have zero availability. If you had parts in those, I suspect that those would all sell within 2-3 hours, i.e. a completed 'shrapnelator' cycle. I've seen the AC SM almost completely dry so this does vary over time, but AC seem to have improved their pipeline (if not lender rates) to the point where this is unlikely to reoccur. Assuming an even spread of loans, ignoring trading suspended and based on current SM status, I would guess 50-60% within a day. Another 10-20% the same week. The rest would be longer. Please remember that AC generally return money into your bank account the next working day if you request the withdrawl before a cut off (which I think is noon, but could be wrong... someone like pepperpot will correct me I'm sure), so if timeliness of cash is key, allow for that. |
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Post by pepperpot on Oct 11, 2017 13:17:48 GMT
Yep, can't disagree with any of that. Just to add, the longer your loan book has been established, the more liquid it should be as older loans will have had more nibbles at them over time but it all depends on rate/term/perceived desirability.
A withdrawal made before 12 noon (on a working day) is normally processed next working day, there's been reports of it taking longer but I can't remember having many problems myself (not in 2017 anyway), but might have taken an extra day on occasion historically.
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trouble
Member of DD Central
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Post by trouble on Oct 11, 2017 13:44:58 GMT
You can always add a slight discount on your sale to put yourself ahead of non-discounted sales e.g. sell everything at standard price, then marginally discount those not shifting
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Post by chielamangus on Oct 11, 2017 13:45:30 GMT
You can do it in a few days if you really want to. You can discount by 1 per cent those loans that don't sell in the first two days, and then watch those fly. AC investors love a discount!
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coda
Posts: 21
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Post by coda on Oct 11, 2017 13:57:06 GMT
thank you all for your replies. It kind of confirms my feeling! I will let you know when I will have done it for real!
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