January 2019 Income Report

Hello Everyone,

For January 2019 I made two deposits on two platforms after using only Mintos for the past 12 Months since I wanted to diversify and experience different platforms as well. I chose to try Grupeer and PeerBerry with €100 on each. You can also check my review of Grupeer here and for PeerBerry here. The Grupeer deposit cleared on Jan 7 and one for PeerBerry on Jan 11.

For Grupeer I chose 10 diffrent loans, some of them were business and some were development projects that were non-amortized. Meaning that you only receive monthly interest payments and the principal is paid on maturity. You can check my Grupeer account overview and statement below. My total profit from the first month using Grupeer was €0.62.

For PeerBerry I bought 6 different loans, I chose loans from people that have taken a large number of loans and have been a client of the originator for a while since I believe that they have a higher chance to pay the loan back on time. I was wrong… At one point during the month all 6 of my loans were late but since all loans on the platform come with buyback guarantee I was not worried. You can check my PeerBerry account overview and statement below. My total profit from the first month using PeerBerry was €0.17.

I didn’t make any deposits to my Mintos account this month since I wanted to diversify away from the platform and that is what I will continue to do. It still is my favorite platform for now but I feel the need to spread my investments around and try other platforms and forms of lending as well. My total profit from Mintos was €39.75. I should be higher but all of the loans originated from GetBucks that are usually being paid on the last day of the month weren’t and since I have over 38% of my portfolio with them it affected my return. This happens some months but they are always paid during the first week of the next month.

For the month of January 2019, I deposited €200 and the total return from interest, late fees and secondary market transactions was €40,54. That is a 12.87% decrease from last month since my GetBucks loans on Mintos were not paid on time.

Please leave your comments below

Until Next Time,
Peter

6 Replies to “January 2019 Income Report”

  1. Hi Peter,

    Was wondering if you have taken a look at the way getbucks handles interest on delayed / buy back loans.
    From the info mintos gives us only the Polish loans pay interest on delayed loans.
    Meaning for bought back loans you’ll lose 60 days worth of interest.
    Wanted to know if you have taken this into consideration.

    Keep up the good work on the blog!

    Like

    1. Actually the loan performance with GetBucks is excellent since the payment for the loan is deducted from the borrowers paycheck. There are no defaults and the maximum delay is usually 5 days max which I believe is a banking or account issue.

      Like

  2. For the development projects that are not non-amortized, what is the difference between the loan and a bond?

    I am always a concern that micro loans will probably generate more paperwork for the tax return than the profit. Did you have a chance to look at the expense ration for the loans?

    Like

    1. Just these loans and bonds are paid back the same way. What paperwork will the micro loans generate from an investors standpoint and what do you mean by an expense ratio? Are you referring to the Loan-to-Cost for the development project loans?

      Like

      1. Well if you are gaining some money, surely you need to keep the paperwork for the taxman.
        On the ration what are your expenses /commission if you loan somebody 150 EUR? The website is for profit, so there must be some commission involved.

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      2. Hi, paper work is actually provided by the platform itself and I just send it to my accountant when he is filling my taxes. I am still not sure what your question is but I think you are referring to the platforms commissions. Some platforms say that they are charging a commission of 2-3% of the funded amount so I guess all of the platforms work with a similar business model.

        Like

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