stevio
Member of DD Central
Posts: 2,065 
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Post by stevio on Jan 23, 2018 17:51:56 GMT
As per title, any tips or things do differently or general guidance?
Starting off with Mintos, changing £ to euros to invest via revulot, buyback loans with CB, small amounts in lots of loans, will try to use auto invest
Not sure countries to diversify and other platforms yet. Liking the currency diversity though
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Post by spareapennyor2 on Jan 23, 2018 18:04:41 GMT
mintos have inhouse FX exchange
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stevio
Member of DD Central
Posts: 2,065
Likes: 894
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Post by stevio on Jan 23, 2018 18:12:48 GMT
mintos have inhouse FX exchange Yes, thanks, I saw. Are many using this? It seemed about £8 less per £1000 than Revolut
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Post by spareapennyor2 on Jan 23, 2018 18:46:41 GMT
0.5% FX £5 for 1K worked for me no third party
may be more on out of hours/ weekends
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JamesFrance
Member of DD Central
Port Grimaud 1974
Posts: 1,317
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Post by JamesFrance on Jan 24, 2018 7:49:05 GMT
My first was with Bondora then called isePankur.
At the beginning I trusted them.
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Post by dutchman on Jan 27, 2018 13:03:30 GMT
1) A better understanding of real expected return vs risk.
My first investments where with a platform that had many 3th parties giving risk analysis, so that seemed like a good idea but after 3 years i found out that even the best graded loans did (far more) default more than indicated. Even personal guarantee of the lender does not help you (well at least not here in the Netherlands. if a person goes (personally) broke, he will enter in a program to help him get back on his feet over 5 years or so but the investor can forget his money for 99% of the time.
buyback guarantee is a better answer on that (for as far as that goes)
2) the 1% rule. (so at least 100 investments per platform)
if eg. you have 1000 to invest, don't use platforms with a 100 minimum investment/loan, either invest more or find another platform with lower minimum.
3) liquidity/marketplace. If you want out, need your money, can you sell your loans?
4) does the platform have your money held in a separate account so they can't touch it or can they do with it as they like?
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Post by clandestino52 on Apr 25, 2018 19:41:54 GMT
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Post by eascogo on Apr 25, 2018 20:05:39 GMT
My AV (Kaspersky) denies access to this site: infected by HEUR: Trojan.Script.Generic
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kulerucket
Member of DD Central
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Post by kulerucket on Apr 25, 2018 20:10:25 GMT
2) the 1% rule. (so at least 100 investments per platform) if eg. you have 1000 to invest, don't use platforms with a 100 minimum investment/loan, either invest more or find another platform with lower minimum. Most platforms have a 10€ minimum per loan. If I had 1000€ to invest I would rather split it into 2 platforms at 500€ each with 2% per loan, than 1% per loan on a single platform. To me diversification across platforms is more important than within a platform, especially when dealing with buyback platforms. Also for asset backed/development loans the minimum is usually higher, 50€ or 100€. I am happy to assign 10% per loan within a platform in this case as long as those investments are in the range of 1% of my total investments. Otherwise you lose out on diversification across loan types.
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Post by glensm on May 2, 2018 15:01:04 GMT
If I could back up 2 years what would I like to know? (and all of this is my 2p)
Everyone's experience is different. Some people love X platform, others hate it.
Definitely plan for lower returns and less liquidity than you'd like.
Consider what you want: security/returns? Higher interest rates generally mean more risk.
Diversity across platforms I think is important but it comes with a management overhead.
What do you want out of crowdlending? i.e. I want: easy (i.e. robo.cash), prefer finance that's helping people out (i.e. investly) rather than payday loans, want to know where your money's going (mintos), do you want one company owning the lenders (viainvest), someone or invest in property?
Make a spreadsheet listing loads of different lenders and try to compare for yourself so you get a picture of what you want.
The promises of 12% returns are (almost always) telling porkies. Mine come out between 10% and 10.5%
Even "low" returns (5%-7%) are MUCH better than you'll get with a fixed-income security
Revolut isn't bad but I found better rates with transferwise and currencyfair and Revolut had some limits on what you could do each month.
Take advantage of people's referral codes. it can add up to hundreds fairly quickly.
Don't go all in in one place - try out different sites and see what you like.
Explorep2p and p2phero are amongst the better blogs.
Remember that this is part of your whole financial health - so any shares/ISA/pension/savings/property is all a partof the picture.
Oh god, and don't touch bitbond with a bargepole.
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