|
|
Post by steelspanner on Sept 19, 2016 6:09:09 GMT
Hi, I am also new to investing with SS and want to thank you all for the excellent help in making decisions on making investments. So many threads that I have read from you all and all very informative and helpful.
|
|
|
|
Post by Deleted on Sept 19, 2016 7:49:31 GMT
My recommendations:
- Don't rush, but be quick when you have decided. Do you due diligence (or read the excellent one from coolingdude) on all the loans you fell fit and wait those to appear on the SM. Or go in steps investing on the pipeline offerings (you will get email alerts a day before they launch, so you have time to study).
- The SM seems to animate at particular times (just after midnight and on mondays in particular), so be ready for those times as invstment opportunities will appear.
- Keep in mind that SS allows you to invest first and repay(fund) later, so if you happen to see something nice, take it and think after to the funding!
|
|
|
|
Post by dodgeydave on Sept 19, 2016 8:55:36 GMT
I would also look at investing on other P2P platforms. Do not put all your eggs in one basket.
SS used to be excellent at communication but have become rather lapse lately.
|
|
|
|
Post by steelspanner on Sept 19, 2016 9:04:52 GMT
Thanks again, I will probably spend more time on this site than SS. I currently use a few other p2p sites but interest is nothing like I can get from SS.
|
|
|
|
Post by chrisuk on Sept 19, 2016 9:17:22 GMT
I'm not sure if I am allowed to name them so apologies to the Mods in advance, but 'MT' and 'FS' are two other platforms that offer similar rates to SS. Although 'FS' only repay the interest at the end of the loan term (usually 6 months).
|
|
james
Posts: 2,205
Likes: 955
|
Post by james on Sept 19, 2016 14:25:55 GMT
Thanks again, I will probably spend more time on this site than SS. I currently use a few other p2p sites but interest is nothing like I can get from SS. Ablrate and MoneyThing are two worth a look, both typically paying 1% a Month, though with a bit of variation. A fair bit on the secondary market at Ablrate at the moment, though this post with a summary is not entirely accurate any more it's a hint of what can be found. Nothing long term typically available on the MoneyThing secondary market at the moment, just the Cardiff student project that is expected to repay shortly. But when a new loan is launched, from 8-10AM and the fist half hour after midnight are apparently times to look for more, though you may have to act very quickly because there's likely to be competition.
|
|
adrianc
Member of DD Central
Posts: 10,014 
Likes: 5,143
|
Post by adrianc on Sept 19, 2016 15:19:06 GMT
I'm not sure if I am allowed to name them so apologies to the Mods in advance, but 'MT' and 'FS' are two other platforms that offer similar rates to SS. It's just fine to name platforms - although the initials are often used for ease. It's individual borrowers within those platforms who shouldn't be named (with the exception of the AC pink pages, since you need to be accredited as a lender to have access there).
|
|
|
|
Post by Deleted on Sept 19, 2016 15:40:46 GMT
For new starters a few key points
1) Read this forum
2) Invest small sums to start with
3) Don't be in a hurry to lose your money, I turn down more than half the deals going, if it looks wrong, in anyway, it is.
4) Diversify. Set a standard small loan sum and keep to it until you feel you know what you are doing (say after 1 or 2 years), at least watch a few loans through a full cycle.
5) Not everything needs to earn you 13%. Look at say "rate setter" and get used to earning 5% with a big chunk of money while you are learning about making 12% with a small chunk of money, then switch it around.
6) Ignorance is a great weapon, ask questions here, we all had to start somewhere and the overall advice is fantastic.
7) Don't confuse "I used to live in student digs" with "I understand developing student flats" etc
Don't just look at SS, look at MT and possibly FS as well
|
|
|
|
Post by chrisuk on Sept 19, 2016 16:50:27 GMT
I'm not sure if I am allowed to name them so apologies to the Mods in advance, but 'MT' and 'FS' are two other platforms that offer similar rates to SS. It's just fine to name platforms - although the initials are often used for ease. It's individual borrowers within those platforms who shouldn't be named (with the exception of the AC pink pages, since you need to be accredited as a lender to have access there). Great. Thanks. 'MoneyThing' and 'FundingSecure' offer similar rates to 'SavingStream'.
|
|
|
|
Post by steelspanner on Sept 19, 2016 18:36:17 GMT
The more I read the bigger the minefield!!
|
|
Liz
Member of DD Central
Posts: 2,426
Likes: 1,297
|
Post by Liz on Sept 19, 2016 18:43:01 GMT
The more I read the bigger the minefield!! What do you expect earning these high rates of interest? I have defiantly trod on a few mines in my p2p career. With my money taking a hit!
|
|
