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Post by spaaps on Dec 27, 2018 8:30:23 GMT
It looks like late loans start to come on Estateguru. Should I be worried?
Only "Pargi bridge loan -7.stage" has a "reasonable" reason for being late.
Others late: #2522 Development loan - 1.stage (Lithuania)
#5353 Refinancing loan (Estonia)
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Post by spaaps on Dec 30, 2018 12:31:45 GMT
Now five loans late  |
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Post by spaaps on Jan 8, 2019 14:28:13 GMT
4 late anymore and today came some information that will be paid this week for 3 and one partly.
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Post by captainconfident on Jan 9, 2019 11:15:43 GMT
I'm invested in a loan which defaulted in July 18. This was a development loan with two funding raises, and the collateral is not the development itself, which is in Estonia, but a separate property.
Unfortunately here is where Estateguru fall down in terms of communication. On the collateral property page, the value of the property is stated, but the 'property type', 'address' are not, and below is displayed a map of central Copenhagen! The link on the page "Appraisal Report" leads to a document in Estonian which is an appraisal of the development project and not the collateral property. Serves me right for allowing Autobid to select for me.
Updates on progress are vague. After 5 months, "As the borrower failed to fulfill his obligations to investors then EstateGuru was enforced to give security agent the task to start the realization process for the collateral property". Not enough information. I have stopped investing with Estateguru until I see whether their mysterious collateral is worth the 1.2m it is supposed to be.
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Post by spaaps on Jan 9, 2019 13:41:39 GMT
Let's see. I might do the same if so many late already, altough one more is paid now. Interest rates are not so good either.
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Post by spaaps on Jan 17, 2019 12:36:59 GMT
It looks better now, only 2 late. One was paid back.
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kredithai
P2P Blogger
P2P Blogger
Posts: 14
Likes: 4
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Post by kredithai on May 27, 2019 11:48:41 GMT
I will publish an article at the weekend about this late loans, that should help you to feel more comfortable with Estateguru. I have also 5 defaulted loans  |
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Post by alazon on May 30, 2019 10:21:17 GMT
I have a late loan from our friends at Tiskre (Residences Development Loan VII); it’s now 188 days over-due (@ 30/May) and, according to updates from EstateGuru:
04 December - The loan has moved into "default" status.
22 March - The bailiff has announced the auction for the sale of collateral assets.
28 May - The auction failed and currently the bankruptcy administrator is re-evaluating the sale price and preparing the next auction round.
If the auction failed, then I would suggest that either the original evaluation was faulty, or a too-high reserve price was set
for the auction.
It seems to be a long time from default to failed auction, and will the next auction round take another two months?
I emailed EG on 24 May to ask about the status of this loan and I have yet to receive a reply (hmmm) but, by coincidence I’m sure, an update appeared on their website on 28 May.
Overall – I’m starting to doubt I’ll see my funds returned, and funds + interest? Well I just don’t know. Plus, I think EG could be more communicative.
However, I’ll keep investing because I think EG is doing a good job, but until I can re-new my confidence, my loans will be smaller than before.
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kredithai
P2P Blogger
P2P Blogger
Posts: 14
Likes: 4
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Post by kredithai on May 30, 2019 15:18:00 GMT
I also have exact this loan in default. It is not untypical that an auction fails. I have some other projects where the auction failed the third time (after over 400 days late)! Anyway, in an conversation in preparation of my YouTube video tomorrow i heard also, that EG started also to search externally for other buyers (parallel to the auction). So, this could be another option so get the late loans back. Overall i think that they are still good and they have now 4 full time employees whose taking care about the defaults.
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Post by bilko on Jun 28, 2019 8:43:23 GMT
Just registered with EstateGuru. Before I invest: you guys have any new experiences?
Would Bulkestate or Reinvest24 be good alternatives?
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Post by soereng on Jul 25, 2019 19:01:10 GMT
Hi Bilko,
my late experience is somewhat mixed, as I run two different portfolios. One with some older loans and one mainly invested in the recent 9 months. The thing is that the late and defaulted loans seem to have risen significantly in the recent month for the older portfolio. My overall performance is now somewhere in the range of 7~8% p.a. after defaults - which is okay but also puts EG in the range of many other P2P platforms. From the default numbers I would say they really need the extra people, so it's nothing the did in advance but for me it looks more they did it because they were forced by the credit quality. However, it's by far not that as in the "Lendy case" as I can now since some ~2 month see a stable rate of about 10% late loans for my matured/old portfolio.
Regards, Sören
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Post by theitalianleathersof on Nov 29, 2019 17:56:46 GMT
I am quite happy about my experience so far with EstateGuru. I have three loan in default but their communication seems on time and precise. I wrote a review some months ago about it: theitalianleathersofa.com/estateguru |
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