sirius
Member of DD Central
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Post by sirius on Jan 13, 2018 10:48:00 GMT
I'm not in the MT loan that this borrower has "technically defaulted" on but I think the situation with that loan is better than read of this thread would suggest. In general, I'm comfortable with the idea that many development loans overrun. That said, I don't understand why regulation hasn't forced the platforms to divulge what they reasonably know about a borrower. Any other loans he has is highly relevant as is his track record. An existing loan that is in default ("technical" or otherwise) should really not be hidden. Anyone else out there interested in starting a new platform that puts lenders interests above all else?Great idea m ichaelc.
Do you have any relevant experience yourself? I have to admit that I do not, although I would be willing to invest as a sleeping (retired now) partner. Any thoughts from other investors?
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michaelc
Member of DD Central
Say No To T.D.S.
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Post by michaelc on Jan 13, 2018 16:40:37 GMT
I'm not in the MT loan that this borrower has "technically defaulted" on but I think the situation with that loan is better than read of this thread would suggest. In general, I'm comfortable with the idea that many development loans overrun. That said, I don't understand why regulation hasn't forced the platforms to divulge what they reasonably know about a borrower. Any other loans he has is highly relevant as is his track record. An existing loan that is in default ("technical" or otherwise) should really not be hidden. Anyone else out there interested in starting a new platform that puts lenders interests above all else?Great idea m ichaelc.
Do you have any relevant experience yourself? I have to admit that I do not, although I would be willing to invest as a sleeping (retired now) partner. Any thoughts from other investors? Thanks Sirius. Maybe we should start a new thread about it? The only two things I can offer are like you investment and also I have 20+ years software engineering experience most recently at Cisco. I know a fair bit about cloud based tech, networking, security, scalability etc. I think such a thing would only have any chance if some of the more experienced folk from the forum became interested with at least one of those with a good financial background, probably at least one with a legal and at least one with good ideas on how to develop it (not me!). I'm definitely happy to contribute some time (significant time if it was really looking good) on the software front, but would definitely need others to lead.
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Post by eascogo on Jan 13, 2018 17:47:32 GMT
Great idea m ichaelc.
Do you have any relevant experience yourself? I have to admit that I do not, although I would be willing to invest as a sleeping (retired now) partner. Any thoughts from other investors? Thanks Sirius. Maybe we should start a new thread about it? The only two things I can offer are like you investment and also I have 20+ years software engineering experience most recently at Cisco. I know a fair bit about cloud based tech, networking, security, scalability etc. I think such a thing would only have any chance if some of the more experienced folk from the forum became interested with at least one of those with a good financial background, probably at least one with a legal and at least one with good ideas on how to develop it (not me!). I'm definitely happy to contribute some time (significant time if it was really looking good) on the software front, but would definitely need others to lead. Rather than reinventing the wheel would it not be easier to invest with platforms that have consistently returned ca 12% p.a. to lenders without losses. This is the type of record one would associate with your declared aim of being lender-focussed. I am thinking of BridgeCrowd. Are there any other such platforms with an unblemished record. BC reports no loss over the period 2012-2016. Does anyone know of any defaults or losses since? If I understand correctly you would start from scratch, compete with existing platforms, and therefore face the same survival issues. What make you think you might be more successful in that game?
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bababill
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Post by bababill on Jan 14, 2018 0:44:14 GMT
Your right @new2p2p what you are mentioning regarding BC. Somehow my gut told me the actual returns for the last 30 loans was even lower then 9.6%. Therefore I took the weighted average (by total availability) and the return is "only" 7.59%. Like Proplend, BC have some significantly higher returns on their more risky tranches but the availabilities are very small. As you may have said its 'window dressing."  |
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