Post by captainconfident on Jan 18, 2016 11:30:47 GMT
Slightly ashamed about profiting from others' payday loan misery? To those of you who have put a toe in the Baltic pond I am happy to report a good years experience with Investly, where my modest investment in 2 year P2B loans has averaged at interest of 19.3%. Investly offers old Flaccid Custard style reverse auctions.
During the year I contented myself with 2 yr loans because there is still no secondary market. Some businesses fell behind with payments during the year but all bar one have caught up. The one remaining struggler looks like it might be a gonner. Recently Investly have updated the platform to provide a more logical user interface and the business information is presented in a more familiar form.
At present there are three auctions running concurrently. The problem for Investly, in my opinion, is a lack of underwriting, meaning that the 50k auction is likely to fail for lack of numbers of investors. So my advice, one year in, is to give it a look and see if we can give some of these businesses a boost.
**this is my unbiased opinion as a punter and I have not been taken onto the staff, bribed nor hypnotised by Investly**
During the year I contented myself with 2 yr loans because there is still no secondary market. Some businesses fell behind with payments during the year but all bar one have caught up. The one remaining struggler looks like it might be a gonner. Recently Investly have updated the platform to provide a more logical user interface and the business information is presented in a more familiar form.
At present there are three auctions running concurrently. The problem for Investly, in my opinion, is a lack of underwriting, meaning that the 50k auction is likely to fail for lack of numbers of investors. So my advice, one year in, is to give it a look and see if we can give some of these businesses a boost.
**this is my unbiased opinion as a punter and I have not been taken onto the staff, bribed nor hypnotised by Investly**