Portfolio update April 2019

Portfolio P2P investments Envestio FastInvest Swaper Robo.cash Twino Mintos Bondora Crowdestor Crowdestate Grupeer reviews

Hello fellow Financial Freedom and Wealth seekers!

Another busy month has passed and it’s time to present the monthly portfolio update.

I don’t feel like writing a lot of information about each platform this month, so this update will be rather brief.

Instead, I will focus my efforts on writing a review of Kuetzal, which I visited from May 1-3. Initially I was a bit skeptic about the platform but the CEO Alberts Cevers impressed me despite his young age. The review will be posted within a week.

Note: You can use the promo code FINANCIALLYFREE from 06.05.2019 to get a 15€ gift for your first deposit.

I also had a chance to meet Grupeer in their new office so you can look forward to a short post about that as well.

Lars from https://passives-einkommen-mit-p2p.de also happened to be in Riga. He quickly arranged a spontaneous P2P meet-up with several platforms. We had a great evening! If you speak German you should definitely check out his blog, he’s doing some great things for the p2p community.


Monthly Income Statement: April 2019

Crowdlending Income XIRR Invested Value
Bondora -416,42€ ??? 14.100€ 22.299€
Crowdestate 63,57€ 7,36% 7.000€ 7.774€
Crowdestor 240,37€ 16,96% 20.000€ 21.363€
Envestio 440,38€ 22,14% 23.400€ 26.537€
FastInvest 55,55€ 16,25% 4.100€ 4.779€
Grupeer 137,89€ 15,61% 10.000€ 11.473€
Mintos 131,15€ 15,17% 8.000€ 9.890€
Robocash 107,52€ 11,63% 6.000€ 6.994€
Swaper 111,67€ 16,26% 9.000€ 11.132€
Twino 30,09€ 16,18% 1.300€ 2.820€
901,77€ 102.900€ 125.064€
Real Estate Income XIRR Invested Value
First property 672€ 63,47% 18.080€ 29.787€
Total 1.573,77€ 120.673€ 154.852€

That means I’m 52,46% Financially Free (up 7,78% from last month).

Portfolio performance: Historical view

“Income from investments” was 1.573,77€.

“Income from Crowdlending” was 901,77€.
(233,40€ more than last month).

“Crowdlending (except Bondora)” reached 1.318,19€.
(340,54 more than last month.)

Bondora

Bondora “returned” -416,42€

I look forward to the day where I can exit this platform entirely.

To any new readers, I do not recommend investing with Bondora unless you plan to use the “Go & Grow” product only. The Go & Grow product is alright if you’re satisfied with a 6,75% interest rate and instant liquidity.

125,6€ interest received but 542,02€ principal missed in April.
144,44€ recovered from defaulted loans in April. That’s just not enough.

See more info and screenshot from my Bondora account

Bulkestate

I haven’t invested in Bulkestate yet, as I’m waiting for the 17% project I was informed about. It has been delayed for a couple of weeks and it’s now scheduled for release around May 10th. This date is not official though, so please don’t tell anyone 🙂

I will transfer my 10.000€ to invest in that project the second I see it on the platform.

If you sign up through my site you’ll get 5€ signup bonus and 1% Cash Back on all your investments made until 31st of May 2019.

If you choose to invest 10.000€ in a single project (like me) you’ll get an additional 1% cash back. That’s a pretty good deal if you ask me.

Crowdestate

Crowdestate returned 63,57€

See more info and screenshot from my Crowdestate account

Crowdestor

Crowdestor returned 240,37€

With 21.000€ invested I expect this to climb to ~300€ within a few months.

See more info and screenshot from my Crowdestor account

Envestio

Envestio returned 440,38€

I was expecting Envestio to set a new earnings record in April and – low and behold – it did.

If you sign up and invest through my referral link, you will get a 5€ bonus when you deposit at least 100€. In addition, you will also get a 0,5% cash back on all your investments the first 270 days.

See more info and screenshot from my Envestio account

FastInvest

FastInvest returned 55,55€

See more info and screenshot from my FastInvest account

Grupeer

Grupeer returned 137,89€

See more info and screenshot from my Grupeer account

Mintos

Mintos returned 131,15€

Finally, Mintos made up for the past few months of declining returns. I’m really not sure what caused the drop but it’s good to be back on track.

With 9.890€ invested I should receive close to 100€ per month.

See more info and screenshot from my Mintos account

Robocash

Robocash returned 107,52€

The first big 1 year “installment” loan was paid back on Robocash. It caused a big spike in earnings. I expect more of these over the next 6 months.

Robocash released a Loyalty Program. I think I’ll up my investment to 10.000€ to get the extra 1% interest from September to November.

See more info and screenshot from my Robocash account

Swaper

Swaper returned 111,67€

See more info and screenshot from my Swaper account

Twino

Twino returned 30,09€

See more info and screenshot from my Twino account

Real Estate

First property returned 672€

Lots of things are happening in the Real Estate business:

  • The renovation of the apartment on the 1st floor is finished.
  • The new tenant moved in.
  • I’m ready to buy property no. 2, the mortgage was approved.

Kitchen renovation

Before:

After:

The new kitchen cabinet doors above and below the oven were mounted yesterday.

See more info about my First property

Second property

I’m buying this property on May 15th or June 1st at latest, depending on how quickly the paperwork can be done.

I agreed with the seller on the price ~218.000€. The bank was willing to offer a 161.000€ mortgage (73,8%) so I’ll need to pay 57.000€  for the down payment and ~5.500 for various expenses. I had hoped for 80% mortgage but 73,8% is also fine.

The second property will return 2.350€ per month before expenses.

Savings rate

My savings rate for April was 52,19% (+0,83% compared to last month).

See more info about my Savings rate

Blog statistics

Visitor numbers dropped a bit from last month.

Visitors: 9.869 (-12,72% compared to last month)
Page views: 37.886 (-23,27% compared to last month)

1.474 Subscribers (758 WordPress, 716 Sumo) (+103 compared to last month)
626 Facebook likes (+36 compared to last month)

FinanciallyFree is hosted on SiteGround for the incredible low price of 3,95€ per month. I honestly couldn’t imagine a better host for a WordPress site!

P2P conference in Riga

Are you attending the biggest P2P Conference in LATVIA, RIGA ON JUNE 7-8, 2019?

70% of the tickets are already sold! If you’re planning to attend you should buy your tickets now while you still can.

Use Promo code P2PEARLYBIRD40 for a 40% discount!

You’ll be able to meet representatives from the platforms, other investors, bloggers and more!

18 speakers will give in-depth insights into the latest product, technical and regulatory developments in the P2P and crowdfunding industry. There will be plenty of learning, inspiration, and networking for everyone.

Unfortunately, it’s too close to delivery date of our third child, so I won’t be able to attend this year. Hopefully next year!

What to expect from me in May

  • I will post my Kuetzal review next week.
  • I will post a few pictures and a short summary of my visit at Grupeer’s new office within 2 weeks.
  • The second property will be bought. As soon as I have the numbers ready, it will be added to the Investments list.

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46 Replies to “Portfolio update April 2019”

  1. I’ve been meaning to ask: How is cash flow from Bondora negative? Are loans being moved from “default” to “bad debt” after failed/partial recovery? It seems amazing that they manage to lose so much of investors’ money!

    1. Cash flow from Bondora is negative when Interest + Prinipal paid is less than Principal expected. Bondora only considers principal overdue, one payment at a time. So if a borrower has a 48 month loan and hasn’t paid a single cent in the first 12 months, only the first 12 months principal payments are considered late. Due to the amortization schedule, mainly interest is expected in the first 24 months. Everything looks good for the first half of a loan period (if you only look at the numbers Bondora presents you) but reality will catch up eventually in the second period.

  2. Always look forward to reading your reports Jørgen! Thank you for taking the time to do this.

    I intrigued to get your opinion on platforms like SEEDRS and any Stocks and Shares platforms similar to Vanguard? Whether it’s something you’ve considered

    1. My pleasure Peter. I prefer investments where I know exactly what income to expect every month. That’s why I focus on Crowdlending and Real Estate only.

  3. Hi Jorgen, good work!
    I want to join the Fastinvest platform, is there an affiliate link available?

  4. Hi Jorgen,

    Nice returns on the P2P platforms. I have some money allocated on those, such as Bondora, Mintos, Bulkestate and Crowdestate. From those, Bondora is the one with problems and just like you I’m getting my money out of there.

    Success on the purchase of the second house.

    All the best.

    Cheers!

    1. I think most people will come to the same conclusion about Bondora eventually. At latest, when they stop reinvesting and want to withdraw their money.

  5. Hello Jorgen!! I really like your work. I have sent you email yesterday so I would be glad if you could answer me. Maybe check spam folder also hahah looking forward to your response!!

      1. When should I expect it? just so that i know because I am eager to invest :S Cheers!!

          1. Wish her all the best for birthday!! Have a great time!

  6. Hi Guys, When investing in p2p platforms is the initial capital invested locked forever or for a certain period of time. I mean, can you withdraw your initial investment after certain amount of time?

    1. Hi Pavlos. The loans usually have duration from 1 month to 5 years depending on the investment. You can wait for the duration to pass or you can sell the loan on a secondary market if the platform offers this.

  7. Thanks for the new update Jørgen!
    Really informative to compare with my own performances and to learn about new investments.
    Looking forward to your Kuetzal review for some extra inside info, since I also started investing about a month ago.
    And I’m curious about your strategy in Bulkestate. Why will you choose to invest such a large amount in just one project? Isn’t it a bit risky if that specific project ends up badly?
    Also, particularly impressed about your second property. Looks like you’ll recover your investment in just 10 years! This is really amazing when I compare to the countries I’m most familiar with (Spain and France). Is this the general rule for Denmark? I may have to consider to buy my second property there 😉
    Cheers!

  8. I don’t understand why Bondora is so bad on choosing loans. I’m newbie on this platform, I don’t have any experience. I add 3000 € on the portefolio manager but I’m wondering if I’m not going to withdraw everything.

  9. You’re welcome!

    I choose one project on Bulkestate to get the extra 1% interest. It’s not much but I’ll take it. I think I have enough diversification with several loan originators from 11 platforms (and maybe more to come). I don’t feel the need to diversify within a single platform. Further diversification will also come when I invest in new projects over time.

    I’m sure you can find property investments with the same yield in Spain and France. Look for properties with at least 2 apartments in smaller cities. More tenants in the same building = higher yield.

    Buying properties in Denmark is nearly impossible for foreigners if you’re not intending to live in the property.

    1. Hello Jorgen ! Thanks a Lot for your great blog! I’m very surprise by your comment on the lack of need to diversify on the same platform, when this one Does not offer buyback.. in this last case, I’m With you (like primo development projects on Grupeer) but here? If the project fail, you will lose all your amount, versus if it had been splited into several smaller ones no?

      Thanks a lot!
      Alex

      1. Hi Alex. Even though Bulkestate doesn’t offer buyback guarantee, all investments are backed by the property itself. That means, if a project fail, I will never lose all my money, the property is always worth something.

    2. Hi Jørgen,

      Why it’s almost impossible for a foreigner(citizen of an EU country) to buy proprieties in Denmark? It should be possible based on EU treaties.

      1. Because Denmark, very intelligently, requires foreigners to live in the property they buy. (We required this excemption, before we agreed to join the EU)

        This has helped Denmark avoid the fate of cities like Brussels, New York, London, Riga and others, where foreign investors have bought up housing and left it vacant in the hope it will appreciate in value.

        Apartments and houses are for living in, particularly in a housing-poor market like Copenhagen.

        Foreigners are welcome to buy homes in Denmark they will live in full-time, assuming they have the right to live in Denmark.

  10. Hi Jorgen.
    I’m curious about your real estate strategy.
    1. When you scout for a new property, do you look for certain property size/price or price per square meter?
    2. And what about setting the size of the rent regarding the Danish laws in this area?
    3. Why did you remodel the kitchen? Did it increase your rent level?
    4. When I look at your growth calculation for your property investment value, it seems quite high. How do you calculate this?

  11. What are your thoughts on stocks? Are you considering getting some stocks or etfs/indexes if there would be a major stock market drop?

    1. I have a 161.000€ pension that I’ve invested in a real estate fund. If we see another 40% stock market drop I will switch my pension funds into a “world stock market” index fund. I’m not sure if I would invest some my free funds as well… Maybe.

  12. Hello Jørgen

    I notice that FastInvest is the platform you have the second least investments in, despite the high interest levels. What are the thoughts behind this. In your review of them and the subsequent visit you seemed very positive about the platform

    1. Hi Kasper,

      13% interest rate is not particularly high these days. Even Mintos has 15% loans at the moment. I’m still positive about FastInvest and I’m looking forward to the day when they publish the names of their loan originators. When that happens, I will consider adding to my investment.

  13. Hi Jørgen,
    It is great that you had a chance to go and visit Kuetzal, As they are such a new platform, it will be interesting to hear about your experience.
    Its crazy to see how much your portfolio has increased in the last 4 years!
    Matt

  14. Hi Jorgen,

    I signed up on Bulsestate from the link, I hope it will work out as planned for you and me.
    Thank you

  15. Thank you Jørgen, for your informative, clear information. What app do you use to track your investments and enable you to produce the reports here? If not an app is it an Excel Spreadsheet? If so where could I find a template? Thank you

    1. Hi Melanie. I use Excel. I’m on vacation now but I can send you a template when I get home on Tuesday. You basically only need 3 columns; Platform name, month and interest earned.

  16. Hey Jørgen!

    I just wanted to tell you that thanks to your experience I’ve just started creating my own passive income – love you for the amount of effort you put into that!

    That being said, I was looking for another similar website to get a broader look on the passive income scene and, to my surprise, couldn’t really find anything quite like financiallyfree – maybe its my poor searching skills or maybe this website truly is this unique.

    If you know any similar websites where one can discover more investing opportunities I would love to hear about that as well – one thing for certain, I’m not leaving financiallyfree, everything is just so convenient and well organised, congrats man!

    1. Thank you for the kind words Kejetan!

      When I started FinanciallyFree it certainly was unique, no one else were posting their exact earnings from Crowdlending on a monthly basis. Some people posted their XIRR for each platform though. Lately, many sites have started doing the same thing, which is perfectly fine – everyone has his own story to tell. If you join the group “P2P Investment Fellows” on Facebook, you’ll find plenty of people advertising for their blogs 🙂

      There’s also several American blogs that keeps you up to date on their FIRE journey, primarily using passive index funds, and post their networth changes from month to month. Rootofgood.com is one of them – if you follow the links in his comments, you’ll find plenty more.

  17. Just used your promo code for the P2P Conference in Riga, looking forward to it!
    Especially to directly engaging with the platforms and getting direct answers from them on their platform development and security practices.

    This will clearly help the platforms in building more trustworthiness and us as investors in verifying it!

  18. Hi Jørgen,

    Just discovered your site searching for info on P2P lending sites, and I really like your transparent approach. Seems you are well on your way to financial freedom!

    Not sure if you’ve already posted on the subject, but I think it would be helpful if you could post about how you manage to save such a large portion of your income, especially as a family of four living in Denmark where the cost of living is high (at least relative to Spain where I’m living).

    Look forward to reading about this and getting ideas on how to save more.

    1. Hi Omar. It’s rather easy for me to save. Just don’t spend much 🙂 Of course, it helps to have a decent income and to split expenses with your spouse. Focus on the “big 3” which is housing expenses, transportation and groceries. I replaced my expensive car with a cheap one, that helped a lot. My employer pays for internet and phone, that helps a bit too.

      1. Thanks for the reply. So out of curiosity, do you own your home or rent?

        Also curious to know if you have thought about investing in Bitbond?

        1. I rent the home we live in. I’d rather buy real estate as investments.

          I will not invest in Bitbond, I’ve had enough of unsecured private loans without buyback guarantee 😊

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