Update of my portfolio: October 2020

Month of juicy returns

Indeed, month of juicy returns and is that, finally, Housers has returned 1,174 euros of late interest of three projects and Crowdestor has returned 1,540 euros from another late project. 

I am very satisfied, since October has contributed 1,460 euros to my target of 2,500 euros per month proposed, far from the 448 euros of September. And these numbers will remain as long as Housers meets the proposed payment schedule, although I have little confidence in them. 

Mintos continues to disappoint in its numbers, as its profitability has been a mescher euro, since I have only invested 12% of my funds, while the remaining 88% is in the process of recovering. I keep lowering my portfolio with them.

On 28 October they launched a new risk classification system that take into account more variables. You can see the details in its section below.   

Peerberry continues to workwell, without startle, adding 4€ this month. Some of his collaborators have increased profitability this month, although in my case it has not changed. 

Viainvest and Robo.cash continue to offer their usual stability and have contributed 7€ and 19€ respectively. They will continue to form the basis for further crowdlending alongside Peerberry, Bondster and Lenndy.

Robo.cash has launched its bonus campaign in which they offer an additional 1% to the amount invested. Learn more here.

This month it has been very pleasant to receive the full return of Crowdestor’s Catch Summer project that was two months late, while Fertilizer Export Financing has still been pending since May, with 1,494 euros invested.

And with delayed interests we have the INCH2, Kabuki, Saapio and Forestland Investments projects, but in all of them it seems that solutions will be offered shortly. 

The new control panel, more intuitive and full of information at first sight, has also been welcomed with joy. Below I show mine with all the details.

This active platform has launched its secondary market with VERY attractive offers that I will also show you in its section, below. 

Lenndy and Bondster have helped me with 12€ each and both continue to offer high profitability with little risk. The first has joined the Giantus Group, while Bondster has added a new originator to its portfolio: ITF Group. 

Bulkestate is still stable and smooth, while at Swaper I am not happy with its   severality of projects and I have withdrawn everything invested except 28€ testimonials that I will see if I will keep or withdraw soon. 

The platforms I am least satisfied with are Crowdestate, Grupeer and Wisefund.  The first has been giving its payment commitments for months, although in November they have announced a new timetable that we will see if they fail again.  

Grupeer could fulfill his contractual obligations, but this month theirr blog post gives me the impression that it does not define anything new and leaves in the hands of third parties all the management for the return of the outstanding amounts.

Finally, Wisefund still does not provide any information despite my insistence, so this month it will serve to contact others affected and bring a class action.  

The good (and unexpected) news this month has been the payment of late interest on the Albufera III, Marismas de Odiel and Torres de Paterna projects by Housers.

This month an individual’s lawsuit against the platform had been allowed to process. It is the first of many that are coming…

Finally, about Kuetzal, Monethera and Envestio there have been some news that you can read at the end of this post. 

In relation to the situation of investment platforms, excellent news came on 20 October, when the Official Journal of the European Union was published approval of Crowdfunding supplier regulation, which will facilitate greater safety and protect investors from potential losses.  

If you want to know what will affect investors,the conditions for regulatory approval in the European and National context and which platforms are requesting, click here.

Here’s the table with the percentages and returns for each platform this month:

And here’s what’s new in the detail of each platform:

Mintos (extended version)

This month Mintos has let me down again and of the 1.010 euros invested, only 117 euros are offering profitability, since the remaining 893 euros are trying to be recovered because they have breached their commitment to return (Buyback).

What I blame most to Mintos is that, until the moment the platforms I invested in failed, they had been given classifications between A- and B.

On October 23, they issued a summary of a video about the funds being recovered. It lasts an hour and you can see it in English here. The most current information on the situation of each originator appears here:

*Amount outstanding **% outstanding to recover ***Estimated recovery date

Of course, profitability continues to fall to a lousy 6.59%, although I see other investors have higher percentages. I suppose they’ve invested in originators without delay in their payments.

The main novelty this month is the implementation of its new risk rating model, based on a general score and four additionalsubpoints based on loan portfolio performance, loan collector efficiency, repurchase strength and cooperation structure.

Mintos wants to become an investment firm and, for this purpose, we will no longer invest in loans, but in “Notes”, which are financial instruments that correspond to loans.

A Loan = A Note

Each “note” will have its own International Securities Identification Number (ISIN), which will operate similarly to a bond or other debt value, with detailed information. Mintos estimates that it will take a year to become a regulated platform and apply this applauded novelty.

It remains P2P’s number one platform, with 80 million euros invested, followed by Peerberry with 16 million.

In early October they published a blog insisting on improvements made to their new investment strategies launched in August. You can see them in Spanish here and in English here. I still don’t recommend investing in any of the three products.

At the moment, I have stopped autoinvest since March 27th and continue to refund the amounts that continue to return me.

Peerberry (extended version)

One of the platforms with which I am most satisfied despite having a more contained profitability, without fallow or delays in returns.

On their blog dated October 23, they announce rises in the returns of some of their originators:

In green originators who have increased their profitability

An investor survey has been launched on their general opinion of the P2P industry and its particular situation and the results published on October 16 reveal that platforms need regulation to maintain investor confidence, above higher returns.

Like Mintos, it is in the process of becoming an investment firm, which will bring greater transparency and security to investors. They plan to do so in spring 2021.

On October 26, they released a number of very interesting issues in a video interview that you can watch here. It lasts half an hour and is made in English. In it we have discovered that they will launch a mobile app before next January.

Great platform with minimal delays and all less than 15 days, as you can see in this current capture:

Viainvest (extended version)

October has not brought much news to this platform, which continues to behave well, with hardly any delays and investing the generated interests quickly.

At the beginning of the month they reported that the Spanish originator VIA SMS Group was going to pay early for their projects.

With them I have diversified my portfolio into 42 short-term loans, of which 2 suffer delays and with a fairly restrictive autoinvest that works perfectly. They are essential to achieve financial freedom and at a current return of 11.77%.

With almost 4 million financed in September, they are the ninth European platform for loans granted and, most importantly, they ALWAYS repay loans.

Robo.cash (extended version)

I love quiet platforms that do not give problems and Robo.cash is one of them, in which the only novelty has been that they have launched their bonus campaign in which they offer an additional 1% to the amount invested. Learn more here.

In September they positioned themselves as the sixth P2P platform by volume of loans acquired, with almost 6 million euros.

On 28 October they published the update of their originators in Spain, Kazakhstan, Singapore, Vietnam, Indonesia and India and all the results have been satisfactory. In 2021 they intend to open the market in Sri Lanka.

Currently I am at 12.65% profitability that you can see below, with delays of 1.447 euros over a total of 2.391 euros invested, but I have to defend that their Buyback functions as a clock and 30 days later pay the interest on time. Specifically, on November 2nd I will charge 1.156 euros of delays:

And this is the monthly profitability chart. If you want more details, you can click on the “extended version” of each platform:

Crowdestor (extended version)

Hmm, this is what I meant by the month of juicy returns! October has brought as a joyful novelty the full return of the Catch Summer project delayed since August, while Fertilizer Export Financing is still pending since May, which I have 1.494 euros invested.

The INCH2 project will present at the end of November a new offer of shares that will include the possibility of converting all or part of the investments into the company’s shares or maintaining the existing loan agreement. New formula I’ll have to study.

The Kabuki project is in difficulty because it does not have its premises open and has promised to offer some solution at the end of November, as does the Saapio restaurant.

With reference to the Forestland Investments project, they indicate that by the end of November they will propose a new payment schedule and may make some late payment.

Its secondary market has been inaugurated and has projects that offer returns above 50%,but you must be prudent, since these are projects with obvious difficulties in meeting their commitments.

And its new control panel offers a new image with more information, as I show you in these screenshots:

They have added a line of diversification that shows whether or not to invest in other types of projects, have adjusted the rate of return taking into account the overdue projects and a more visual indicator of these.

And among all the options available, I show you the one I understand most interesting, which facilitates monthly historical movements:

They launch around 5-7 projects per week and profitability rates have increased considerably. Today there are eight active projects between 16% and 32%.

Among them is the energy holding company in which Crowdestor CEO Janis Timma participates, which aims to become the largest thermal production plant in Latvia and which offers an annual return of between 32-34%.

On the other hand, I am very happy with this platform because it has contributed me 34 euros this month in bonus, which had never happened to me with this or any other platform. Surely those who have invested in Crowdestor through my link are also very happy with the additional 1% it contributes.

Lenndy (extended version)

Lenndy has joined the Giantus Group, along with First Finance and Daily Credit. In this way they centralize its structure and improve its effectiveness.

This month they have been delayed on some payments, but I am not over-worried because they always meet and pay late interest at 60 days.

I still find it a safe and compliant platform, but I recommend investing only in short-term personal projects and vehicle acquisition on this platform, never in companies.

This is my situation as of October 30th:

The current 1.206 euros invested are wide among 35 projects, which rent an average of 12.73% per year.

Bulkestate (extended version)

This platform continues to work perfectly, although they publish few projects, which they should remedy, although it is true that their faithful legion of followers top with their autoinvest all the offer available.

Projects that exceed 23 months, appear with monthly interest payments and since April it is not uncommon to see projects between 15-16%, which attracts even more potential investors.

In March I invested the remaining 300 euros in the Amalijas Street project, with an LTV of 49% and a return of 12% per year. It’s time to wait until March 2021 to receive the 36€ interest.

Wisefund – possible scam (extended version)

As of October 31, they have not paid the interest on March, July, August, September or October, which amounts to 118 euros and have not paid the maturity of the project on October 13.

But they haven’t offered any information or respond to emails either, so I’m afraid of the worst.

On 25 June they reported on the state of the project in which I have invested 1000€ named “Operating Cash for Dutch Flower Exporter” and despite the delay of three months due to the pandemic, they would meet the payment schedule. You can see they haven’t complied.

I sent them several emails and the last one I received a reply in early September deigned to write two lines informing that they were requesting the amounts due through a specialized company. I asked them which one because I doubted his existence and why they had not updated their status since July 31, but I still don’t get an answer.

In November I will bring a class action against the platform among all possible affected investors.

Swaper (extended version)

With 7€ profitability in July, 1€ in August and 2€ in September and October, I will think about whether or not to keep on a testimonial the current 28 euros on this platform, until the number of projects to be invested increases. In fact, below you can see a screenshot of the only one available:

If you look, it is not even a new project, but one sold by some investor in the secondary market, as it appears as “extended” and dated March 2020. There’s none new.

And it is a pity, because they have a good return (13.69%), but I do not augur for them a great future with so few projects and the current insufficient investors.

Here’s my dashboard as of October 29th and below is the monthly profitability chart:

Bondster (extended version)

October has rented me another 12 euros. This translates to 15.92% in the 119 active projects, of which 33 suffer some delay, but it is not worrying, as it has a very efficient Buyback and they are in time to regularize them.

The Philippine Government has approved a 60-day moratorium on payments, so investors affected by Right Choice Finance will need to be a little more patient to collect their projects.

On the other hand, they have incorporated a new Bulgarian originator – ITF Group – which offers an 11% return with loans from six months with its two brands: GetCash and SmileCredit.

Here’s my updated dashboard:

You know what I like about this platform too? Autoinvest is very simple and intuitive and offers the number of projects that match the selected items:

Crowdestate (extended version)

This month they have launched 7 new projects, but I still do not invest in them, because I did not find the decision to extend up to 94 months some projects that had an initial duration of 12 months and called “Short-term working capital loan”.

In them I have invested 2,600 euros – Baltic Forest – and have been restructured into a new payment schedule ordered by a judge to avoid their bankruptcy, which they have breached.

On 15 October they reported that they were looking for a strategic investor to fulfil their obligations, because the new payment schedule must be provided to the Court by 5 November.

The outstanding payments continue to accrue from July and to this day they owe me 46 euros in interest and adding up.

Mismanagement by this platform.

Housers (extended version)

This month I received 1.174 euros in late interest from the Albufera III, Marismas de Odiel and Torres de Paterna projects… AMAZING! After half a year without charging a euro of interest, they have finally fulfilled three of their nine payment commitments.

In both Albufera III and Torres de Paterna,which share the same promoter, the proposal is to pay late interest until September 2021, when they will return the project. Until I see it, I won’t believe it, because it’s been breached before. I’ve invested 70,000€ between the two of them.

And Marismas de Odiel proposed the payment of late interest in October and November 2020, while the repayment of capital and interest would be in January 2023. It’s a long time and I don’t know if Housers will still exist on these dates. I’ve invested 10,000€. They also defaulted on their previous payment commitment.

It appears that the change of administrator has given a boost to several projects, as is recorded in various updates received on October 26:

  • Vara del Rey: a rental offer with option to purchase is currently being negotiated and continues to be marketed through the real estate company “Como tu Casa”. Pending the approval of accounts of the Company of the year 2019 that will be submitted to the Board during the month of November. The change of the company’s address and the cancellation of the powers of attorney of previous directors and proxies are pending.
  • The Raval II: pending the approval of accounts that should have been held at the Board in October. Without firm offers, it continues to be marketed through the same real estate company.
  • Sagasta: no tenants since December 2019, there have been several buyers interested but offering very low prices. It is marketed through the Javier Reynes Architecture Studio. In October, an offer of 180.000 euros was received, which turns out to be 9.000 euros below the purchase price of investors. Pending also the approval of accounts that should have been held at the Board in October.
  • Juan de la Encina: with tenants in both properties, is being marketed for sale through the real estate company “Como tu Casa”. Pending the approval of accounts of the project of the year 2019 that will be submitted to the Board during the month of November.

I have not had any information from the Alvarez de Castro project since October 2018 and Iriarte since March 2020 announcing that it was no longer marketed because of Covid-19.

If you want to know more about all the Housers projects I’ve invested in, be sure to visit the Crowdlending tab or click here.

Given their bad practices and the desperation of many investors, an association has been created to confront them in Court, together with a specialized law firm: https://www.afectadoshousers.com/

In October, an individual’s lawsuit against the platform was admitted to the proceedings and the law firm of the affected platform has filed several additional lawsuits, although many more remain to come.

Needless to say, I haven’t recommended investing in this platform in years. Let’s hope they catch up on the one they’re coming up with.

Grupeer – possible scam (extended version)

On October 7, they added on their blog that they continue to make arrangements to recover their operations and bank account, while Recollecta is responsible for collection management.

Recollecta receives money transfers from payments by originators and within 5 days pay investors according to the schedule, provided that investors have completed the KYC (User Identification) process.

Grupeer works on calculating payments and is responsible for communicating with investors, although I continue to miss the status of each originator and their payment processes.

Nor has it reported the legal proceedings initiated against several originators – Primo Invest, Finsputnik, Lime and Right Choice Finance. We’ll see what this is all about.

The project in which I have invested 1113 euros ended in mid-May, but the originator is one of the denounced ones, so I doubt to get encouraging news on his part until the end of the year, at the latest.

Monethera – confirmed scam (extended version)

Pending the status of the latest bank accounts used by Monethera and submitting them to the trustee, the transactions made by each entity will begin to be investigated.

It appears that fake projects published on this platform continue to appear.

For more information on this in the Telegram group created for this purpose and in English, follow this link.

Envestio – confirmed scam (extended version)

Evidence continues to be made against the persons responsible for the management of the platform and are managing with the trustee the filing of the claims against some debtors.

Kuetzal – confirmed scam (extended version)

There is new evidence that some projects were fake and that some members of the platform knew.

Together with the Prosecutor’s Office, debtors are being pressured to obtain bankruptcy status.

It seems that much of the responsibility for Alberts Cevers is derived in partnership with several individuals and companies.

I’ll keep you posted.

RECOMMENDED PLATFORMS THAT OFFER WELCOME BONUS:

MINTOS: 0.5% of your investment from 500 euros during the first 30 days

PEERBERRY: 0.5% of your investment during the first 30 days

VIAINVEST: 15€ bonus with a minimum investment of 50€

CROWDESTOR: 1% of your investment during the first 90 days

ROBO.CASH: 1% of your investment during the first 30 days

BONDSTER: 1% of your investment during the first 90 days

LENNDY: 10€ bonus with a minimum investment of 100€

Si te gustó, ¡compártelo!
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