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Post by roedvin on Feb 17, 2017 15:28:13 GMT
Why do you think that extensions are eating profit? They are eating nothing, they create money. At the moment on Twino I have 33% of my loans extended that means about 33% of my capital is unavailable for reinvestment. I am getting back interest yes but not capital so the effect of compounding on reinvestment is reduced. That is the way I see it. I also worry about the sustainability of unsecured personal loan originators in the event of even a minor economic downturn for that reason I would much rather be invested in secured business loans. That does not make any difference whether you have an extension or a new investment. Your funds are earning the same money in both cases if the conditions are the same. In the case that you could change against better interest rate, you are right. In case of only changing against the same rate there is no difference, except your money will stay one day or more on your account. Then you lose money. But btw: This discussion should have been done in the corresponding thread.
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Post by roedvin on Feb 17, 2017 15:50:42 GMT
What's confusing me a little at Grupeer is that the founder Victor Kirchgässner seems to be the same person like the owner of Hotel Dominik (and Kurtour GmbH, loan originator of Grupeer), which has applied for a loan at Grupeer.
Maybe Lucie can give us some advice.
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Post by Lucie on Feb 17, 2017 17:45:00 GMT
What's confusing me a little at Grupeer is that the founder Victor Kirchgässner seems to be the same person like the owner of Hotel Dominik (and Kurtour GmbH, loan originator of Grupeer), which has applied for a loan at Grupeer. Maybe Lucie can give us some advice. I can confirm officially that the owner of Kurtour GmbH, Mr. Kirchgässner, is the main owner of the Platform Grupeer. This is an obvious fact that nobody is trying to hide. I am surprised that the honored forum members wonder what a credit company can stand behind a platform. In my opinion, this is a common practice. Mr. Kirchgässner is a citizen of Germany and has been investing in real estate development projects for a long time. For this reason, we announced that the main competence of the Platform will be investment transactions in real estate development. I believe that it is a positive factor that private investors will be able to use the experience of market professionals. For the mentioned hotel deal with hotel Dominik a land plot collateral is provided.
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kulerucket
Member of DD Central
Posts: 336 
Likes: 93
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Post by kulerucket on Feb 17, 2017 18:51:16 GMT
Why do you think that extensions are eating profit? They are eating nothing, they create money. At the moment on Twino I have 33% of my loans extended that means about 33% of my capital is unavailable for reinvestment. I am getting back interest yes but not capital so the effect of compounding on reinvestment is reduced. That is the way I see it. I also worry about the sustainability of unsecured personal loan originators in the event of even a minor economic downturn for that reason I would much rather be invested in secured business loans. I'm sorry but what you are saying is rubbish. It makes no difference whether you are still earning interest on the principal in the extended loan or a different one. In any case compounding acts on reinvestment of interest, which you are getting back to reinvest. If anything, extensions are better when you are not planning to take the cash out because in a quiet period you don't have any cash drag waiting for new loans.
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Post by roedvin on Feb 17, 2017 20:52:57 GMT
I can confirm officially that the owner of Kurtour GmbH, Mr. Kirchgässner, is the main owner of the Platform Grupeer. This is an obvious fact that nobody is trying to hide. I am surprised that the honored forum members wonder what a credit company can stand behind a platform. In my opinion, this is a common practice. Mr. Kirchgässner is a citizen of Germany and has been investing in real estate development projects for a long time. For this reason, we announced that the main competence of the Platform will be investment transactions in real estate development. I believe that it is a positive factor that private investors will be able to use the experience of market professionals. For the mentioned hotel deal with hotel Dominik a land plot collateral is provided. Thanks for your reply, Lucie. I did not claim that anybody tried to hide anything, because that was too easy to follow up. And yes, you are right that's a common practice that credit companies stand behind a platform. So far so good. But it's not a common practice that with the launch of a platform the main owner and creditor is applying for a loan. It's not a prejudice, everything looks fine with the collateral, nothing is hidden, but it looks a little curious. Usually, before I invest my money anywhere, I take it to resolve liabilities or before taking new loans. Maybe there are some good reasons to do so, I will not doubt it. What's confusing me is the fact of that constallation in this very moment. Or to quote somebody: What looks good must not feel good!
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Post by roedvin on Feb 17, 2017 21:06:07 GMT
At the moment on Twino I have 33% of my loans extended that means about 33% of my capital is unavailable for reinvestment. I am getting back interest yes but not capital so the effect of compounding on reinvestment is reduced. That is the way I see it. I also worry about the sustainability of unsecured personal loan originators in the event of even a minor economic downturn for that reason I would much rather be invested in secured business loans. I'm sorry but what you are saying is rubbish. It makes no difference whether you are still earning interest on the principal in the extended loan or a different one. In any case compounding acts on reinvestment of interest, which you are getting back to reinvest. If anything, extensions are better when you are not planning to take the cash out because in a quiet period you don't have any cash drag waiting for new loans. As I said previously: Please discuss it in the correct thread!
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p40l0m4r
Member of DD Central
Posts: 63
Likes: 16
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Post by p40l0m4r on Feb 19, 2017 18:24:28 GMT
Hi Lucie,
Grupeer will make available a fiscal documentation at the end of the year for foreign investors?
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Post by Lucie on Feb 20, 2017 13:03:12 GMT
Hi Lucie, Grupeer will make available a fiscal documentation at the end of the year for foreign investors? Hello p40l0m4r, Grupeer will publish processed and aggregated statistical data on performance of the Platform periodically. As regards annual financial statements, if you ment them by fiscal documentation, according to our legislation they are publicly available via Corporate Register database.
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Post by roedvin on Feb 20, 2017 13:41:02 GMT
P40 means a tax statement for his annual income.
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Post by Lucie on Feb 20, 2017 15:32:06 GMT
P40 means a tax statement for his annual income. Roedvin, We do not provide any tax statements for investors, as calculating and withholding of taxes applicable to the revenues of the investor is subject to tax legislation of his jurisdiction and, therefore, it is the investor who takes responsibility for the applicable tax payments in his country of residence, not the Platform. Therefore, we do not make any tax deductions from the payouts made to investors . Grupeer provides information on transactions made via the Platform only in case of official requests of according governmetnal authorities in certain cases and to that extent as specified in legal acts of our jurisdiction.
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kulerucket
Member of DD Central
Posts: 336
Likes: 93
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Post by kulerucket on Feb 21, 2017 9:42:09 GMT
Lucie - I think you are still missunderstanding the question. Whatever the country of residence, you need a statement from your investment accounts summarising the investments over the period in order to submit your tax returns. We are not asking whether Grupeer withholds taxes or whether they supply information to tax authorities directly. We only ask whether you intend to add support for exporting a summary of transactions in a form that will be acceptable to tax authorities in different counties. For example a pdf including the name and adress of the account holder and a summary of the total loans made/interest recieved over a given period (because different countries have different tax years).
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p40l0m4r
Member of DD Central
Posts: 63
Likes: 16
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Post by p40l0m4r on Feb 21, 2017 9:56:15 GMT
Lucie - I think you are still missunderstanding the question. Whatever the country of residence, you need a statement from your investment accounts summarising the investments over the period in order to submit your tax returns. We are not asking whether Grupeer withholds taxes or whether they supply information to tax authorities directly. We only ask whether you intend to add support for exporting a summary of transactions in a form that will be acceptable to tax authorities in different counties. For example a pdf including the name and adress of the account holder and a summary of the total loans made/interest recieved over a given period (because different countries have different tax years). Thank you kulerucket, it's exactly what i meant. A standard document to present to our fiscal autorities in case of controls for what we independently declare, I didn't have any specific experience yet, but a document with a declaration signed by the intermediary with the total amount of interests received in each our fiscal period is commonly accepted,
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Post by Lucie on Feb 21, 2017 11:24:04 GMT
Lucie - I think you are still missunderstanding the question. Whatever the country of residence, you need a statement from your investment accounts summarising the investments over the period in order to submit your tax returns. We are not asking whether Grupeer withholds taxes or whether they supply information to tax authorities directly. We only ask whether you intend to add support for exporting a summary of transactions in a form that will be acceptable to tax authorities in different counties. For example a pdf including the name and adress of the account holder and a summary of the total loans made/interest recieved over a given period (because different countries have different tax years). Thank you kulerucket, it's exactly what i meant. A standard document to present to our fiscal autorities in case of controls for what we independently declare, I didn't have any specific experience yet, but a document with a declaration signed by the intermediary with the total amount of interests received in each our fiscal period is commonly accepted, p40l0m4r, I really misunderstood the question. We did not envisage any special form for users' tax calculation/income statement purposes. However, anyway, according information on user's investment account, including transactions and earned interest, will be provided for a specific period to the user by Grupeer upon the user's request. And, if it is helphul, we can develop a special form of providing this information as well.
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Post by Lucie on Feb 21, 2017 11:26:24 GMT
Lucie - I think you are still missunderstanding the question. Whatever the country of residence, you need a statement from your investment accounts summarising the investments over the period in order to submit your tax returns. We are not asking whether Grupeer withholds taxes or whether they supply information to tax authorities directly. We only ask whether you intend to add support for exporting a summary of transactions in a form that will be acceptable to tax authorities in different counties. For example a pdf including the name and adress of the account holder and a summary of the total loans made/interest recieved over a given period (because different countries have different tax years). p40l0m4r, kulerucket, I really misunderstood the question. We did not envisage any special form for users' tax calculation/income statement purposes. However, anyway, according information on user's investment account, including transactions and earned interest, will be provided for a specific period to the user by Grupeer upon the user's request. And, if it is helphul, we can develop a special form of providing this information as well.
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Post by roedvin on Feb 21, 2017 11:32:05 GMT
Guys, you really do not need a tax statement, even if it would be helpful. Just do a screenshot of the overview. There you will find your interest income and possibly late fees.
The only thing you have to do in your tax declaration is to declare it. Screenshot or tax statement are just to prove if requested by tax authorities. It's not a must.
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