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Post by davids on Jan 25, 2018 20:26:27 GMT
Hello,
I'm quite a novice at p2p lending, i've dabbled in lendy for over 12months but never had the income really to commit fully, well in oct i got a new job with a big pay rise, so now i have more 'spare' income which i'd like to work for me rather than sitting there doing nothing.
As my investment in Lendy has increased somewhat, i started to read more and more about p2p and realised i needed to diversify out my portfolio going forward to minimise risk.
So far i've put some of my profits from Lendy into Unbolted, Ablrate & Property Moose for a period of time til like July or so, to test the waters.
The other platform i like the look of is Assetz Capital, but i have read a lot of some recent bad loans which kinda puts me off a little bit, as well as potentially the time needed to make good returns 8-10%. I think my strategy would be to find loans which are backed against assets/ property for pipeline loans, and secondary market loans would for me include loans which are amortised, as well as ones which haven't missed any payments. Would people still recommend AC? if not, which other platforms?
I should add i'm looking to slowly build a p2p portfolio, currently it consumes <<10% my money, but i want to grow slowly not dive feet first, so platforms which have £1,000 min buy-in aren't for me currently!
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justme
Member of DD Central
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Post by justme on Jan 25, 2018 21:12:27 GMT
why not to continue reading till July filling for now the 4 you got until you reach yur mximum
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justme
Member of DD Central
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Post by justme on Jan 25, 2018 21:14:04 GMT
sorry can not edit - part of my mobile's screen does not work.
"until you reach your maximum per platform on those 4?"
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Post by davids on Jan 25, 2018 21:25:32 GMT
Problem is, i don't know what my maximum is on those platforms yet,
I've read some reviews about them but wanted to ask people what their opinions are, whether they use them, why they do/ don't, any bad experience's etc
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Post by df on Jan 25, 2018 21:52:40 GMT
Hello, I'm quite a novice at p2p lending, i've dabbled in lendy for over 12months but never had the income really to commit fully, well in oct i got a new job with a big pay rise, so now i have more 'spare' income which i'd like to work for me rather than sitting there doing nothing. As my investment in Lendy has increased somewhat, i started to read more and more about p2p and realised i needed to diversify out my portfolio going forward to minimise risk. So far i've put some of my profits from Lendy into Unbolted, Ablrate & Property Moose for a period of time til like July or so, to test the waters. The other platform i like the look of is Assetz Capital, but i have read a lot of some recent bad loans which kinda puts me off a little bit, as well as potentially the time needed to make good returns 8-10%. I think my strategy would be to find loans which are backed against assets/ property for pipeline loans, and secondary market loans would for me include loans which are amortised, as well as ones which haven't missed any payments. Would people still recommend AC? if not, which other platforms? I should add i'm looking to slowly build a p2p portfolio, currently it consumes <<10% my money, but i want to grow slowly not dive feet first, so platforms which have £1,000 min buy-in aren't for me currently! I'd recommend Assetz Capital, but only three of their accounts - QAA, 30-DAY and MLA. However, if you are aiming for 8-10% return AC is probably not the best option for you.
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Post by davids on Jan 25, 2018 22:09:43 GMT
I'd be happy to settle for less than 8-10%, i just want to understand how the platform works and how it appears to go about day to day business, whether there's any quirks etc
I've spent the last two weeks stalking these forums! many hours reading through some threads trying to work out the short hand and background reading around sites.
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pom
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Post by pom on Jan 25, 2018 22:18:31 GMT
Problem is, i don't know what my maximum is on those platforms yet, For me if my total invested in a platform is an amount that would be scarey if it were tied up unexpectedly for an indeterminate amount of time or even lost altogether should a platform fail badly for some reason, then that's my max. Admittedly it's increased by a factor of about 4 or 5 since I started in p2p.
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Post by davids on Jan 25, 2018 22:31:58 GMT
Problem is, i don't know what my maximum is on those platforms yet, For me if my total invested in a platform is an amount that would be scarey if it were tied up unexpectedly for an indeterminate amount of time or even lost altogether should a platform fail badly for some reason, then that's my max. Admittedly it's increased by a factor of about 4 or 5 since I started in p2p. That's a good way to look at it i suppose, what i have in Lendy can stay there indefinitely and it wouldn't be missed, however, if that investment was also on Unbolted, Ablrate & Property Moose too i'd be a bit worried, but as my funds are growing it'll become less of an issue i suppose, and i will begin to trust the other platforms to raise my investments there.
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justme
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Post by justme on Jan 26, 2018 6:10:35 GMT
so if you are far from the amount that you would be worried about losing on those 3 platforms you just started why do you need even more new ones?
I started just a year ago without finance or law u other pertinent background so I can relate to where you are.
One can not read the forums and become properly good at investments - a background knowledge which is not acquired by just reading posts of people who have it is needed imo so one is bound to move in fog.
After you use some platforms yourself it will become a bit clearer,for now asking which more platforms you should use is a bit like a guy who can not swim asking which other strokes he should use to get to the other end of a pool while having already a list of a few possible ones.
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Post by davids on Jan 26, 2018 6:13:39 GMT
okay, maybe i'll rephrase the question
what platforms do other people use, and what is their % allocation to those platforms of their p2p investment?
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justme
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Post by justme on Jan 26, 2018 7:20:06 GMT
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pom
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Post by pom on Jan 26, 2018 7:42:47 GMT
For me if my total invested in a platform is an amount that would be scarey if it were tied up unexpectedly for an indeterminate amount of time or even lost altogether should a platform fail badly for some reason, then that's my max. Admittedly it's increased by a factor of about 4 or 5 since I started in p2p. That's a good way to look at it i suppose, what i have in Lendy can stay there indefinitely and it wouldn't be missed, however, if that investment was also on Unbolted, Ablrate & Property Moose too i'd be a bit worried, but as my funds are growing it'll become less of an issue i suppose, and i will begin to trust the other platforms to raise my investments there. Umm not really the point (and from a personal perspective I'm not the only one on here who wouldn't leave it in Lendy) .. in an ideally diversified world your max should be the same on any platform, tho I'm a bit pot-kettle-black as some of mine vary quite a lot. And just to be clear I wasn't talking about trust when I spoke of increasing maximums - if I really don't trust a platform I pull out, but that doesn't necessarily mean I "trust" the others either, because it doesn't matter how trustworthy they are there will always be some potential unforeseen circumstance that could really screw things up (but I'm a risk averse pessimist so I mitigate a lot). For me it was more to do with getting a more comfortable bigger picture view of the sums involved (since you are new I should perhaps explain that I started p2p after a big windfall nearly 3yrs ago, and its frankly taken me a while to get used to the figures involved and that the ~20% I have in p2p overall is less significant than it would previously have been)
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littleoldlady
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Running down all platforms due to age
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Post by littleoldlady on Jan 26, 2018 7:59:39 GMT
That's a good way to look at it i suppose, what i have in Lendy can stay there indefinitely and it wouldn't be missed, however, if that investment was also on Unbolted, Ablrate & Property Moose too i'd be a bit worried, but as my funds are growing it'll become less of an issue i suppose, and i will begin to trust the other platforms to raise my investments there. Umm not really the point (and from a personal perspective I'm not the only one on here who wouldn't leave it in Lendy) .. in an ideally diversified world your max should be the same on any platform, tho I'm a bit pot-kettle-black as some of mine vary quite a lot. And just to be clear I wasn't talking about trust when I spoke of increasing maximums - if I really don't trust a platform I pull out, but that doesn't necessarily mean I "trust" the others either, because it doesn't matter how trustworthy they are there will always be some potential unforeseen circumstance that could really screw things up (but I'm a risk averse pessimist so I mitigate a lot). For me it was more to do with getting a more comfortable bigger picture view of the sums involved (since you are new I should perhaps explain that I started p2p after a big windfall nearly 3yrs ago, and its frankly taken me a while to get used to the figures involved and that the ~20% I have in p2p overall is less significant than it would previously have been) Trust me, if you invest in p2p you are really an optimist.
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pom
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Post by pom on Jan 26, 2018 8:08:20 GMT
so if you are far from the amount that you would be worried about losing on those 3 platforms you just started why do you need even more new ones? I started just a year ago without finance or law u other pertinent background so I can relate to where you are. One can not read the forums and become properly good at investments - a background knowledge which is not acquired by just reading posts of people who have it is needed imo so one is bound to move in fog. After you use some platforms yourself it will become a bit clearer,for now asking which more platforms you should use is a bit like a guy who can not swim asking which other strokes he should use to get to the other end of a pool while having already a list of a few possible ones. Depends I think if you can get enough loans on 3 platforms to ensure overall diversity (a general recommendation seems to be at least 100) such that -hopefully- losses will continue to be outweighed by earnings. Whilst I have after nearly 3yrs managed to get over 100 in my biggest 3, many of those are tranches or repeat borrowers and many are shrapnel compared to others, so if I only had 3 I wouldn't feel comfortable. Because personally I don't consider myself good at investments either, which is why I diversify a lot - may mean I end up underinvesting in the really good ones but at least I'm less likely to be overexposed to the bad ones. The boards can give you a feel of the platforms but there will always be a bias - everyone loves a new platform...and at the other end you will often get a disproportionate amount of noise from a small proportion of disgruntled investors (which is worth paying attention to even if you like the loans/platform, if it might impact your ability to liquidate). Only real way to know is dip several small insignificant toes and see - and accept that it takes time. And it can take a lot of time to manually invest, so perhaps another thing that should also be considered is whether it's worth it for the amounts involved. Sometimes it's perhaps worth resisting the lure of high rates and considering something more automated.
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pom
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Post by pom on Jan 26, 2018 8:23:32 GMT
Umm not really the point (and from a personal perspective I'm not the only one on here who wouldn't leave it in Lendy) .. in an ideally diversified world your max should be the same on any platform, tho I'm a bit pot-kettle-black as some of mine vary quite a lot. And just to be clear I wasn't talking about trust when I spoke of increasing maximums - if I really don't trust a platform I pull out, but that doesn't necessarily mean I "trust" the others either, because it doesn't matter how trustworthy they are there will always be some potential unforeseen circumstance that could really screw things up (but I'm a risk averse pessimist so I mitigate a lot). For me it was more to do with getting a more comfortable bigger picture view of the sums involved (since you are new I should perhaps explain that I started p2p after a big windfall nearly 3yrs ago, and its frankly taken me a while to get used to the figures involved and that the ~20% I have in p2p overall is less significant than it would previously have been) Trust me, if you invest in p2p you are really an optimist. Nope I'm really not - an ex-boss once called me Cassandra. But the thing about pessimists is they (apparently) make great planners because they consider risks far more. Anyway I only started investing in p2p because (poor me) I couldn't think what else to do with the cash - there was already "too much" in S&S and it was too much to leave in the bank (and I still have a pretty ridiculously high amount in cash but I can't really bring myself to touch it). I had nothing to lose in having a small toe dip in a few platforms of what turned out to be about a fifteenth of what I have now. Would I have ever started I hadn't had the windfall....possibly not.
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