Portfolio update April 2020

Portfolio update P2P investments Bulkestate Reinvest24 Viventor FastInvest Swaper Robo.cash Mintos Bondora Crowdestor Crowdestate Grupeer PeerBerry Wisefund reviews



Dear fellow investors, guys and gals, friends and family.

Welcome to another episode of “global pandemic affects everything”.

This month I’ll make the Crowdlending part short and sweet. When societies open up again, we’ll see how much damage the sector has taken. I’m still hopeful and keep reinvesting for the most part.

Grace periods given by P2B platforms sets their marks on this month’s earnings. Let’s have a look.


Monthly Income Statement: April 2020

Crowdlending Income XIRR Invested Value
Bondora* -304.88€ 2.68% 9 853€ 12 594€
Bulkestate* 0€ 10.12% 10 000€ 10 989€
Crowdestate* 8.21€ 5.78% 5 648€ 6 685€
Crowdestor* 0€ 13.47% 82 912€ 91 438€
FastInvest* 28.46€ 16.13% 1 911€ 2 176€
Grupeer 0€ 13.52% 20 474€ 24 001€
Mintos* 243.73€ 18.13% 20 000€ 25 647€
PeerBerry* 83.38€ 14.31% 6 000€ 6 510€
ReInvest24* 2.64€ 0.18% 1 000€ 1 001€
Robocash* 98.95€ 12.55% 10 000€ 12 546€
Swaper* 108.62€ 14.02% 10 000€ 13 684€
Viventor* 49.30€ 13.70% 5 000€ 5 504€
Wisefund 0€ 20.26% 17 853€ 20 626€
Scams XIRR Invested Value
Envestio -100% 20 000€ 0€
Kuetzal -100% 24 700€ 0€
Subtotal 318.41€ -3.80% 245 353€ 233 408€
Real Estate Income Invested Value
Property #1 380€ 44.67% 18 080€ 41 448€
Property #2 1 167€ 0.34% 61 200€ 61 373€
1 547€ 79 280€ 102 822€
Total 1 865.41€ 1.97% 324 633€ 336 230€

Note: I marked Grupeer income as orange for now because it’s highly questionable. Read more in the Grupeer section below.

Portfolio performance: Historical view

Income from Crowdlending & Real Estate combined was 1 865.41€.
(-1 048.42€ less than last month).

That means I’m 62.18% Financially Free (-31.70 percentage points down from last month).

Stocks

Some of you asked if I would share my stock market moves. Sure, why not? Just remember that I’m a complete amateur with no financial background. Nothing shared here is investment advice. My best advice for you is to grab a bowl of popcorn – it’s for entertainment purposes only.

Right from the get-go, I deviated from my original plan of getting into index funds like the Vanguard S&P500 ETF “VUSA”. (Well done me!) I was simply too slow to get my account funded.

Experts say we should never try to time the market… But buying here at ~50€ (just 16% from all time highs) feels wrong to me in the environment. If we get another leg down to 40€ or less I’ll be ready to get a position.

Instead, I used the opportunity to buy some equity in the most troubled sectors like oil and airline stocks. It’s a high risk move, I’m well aware of that.  We could easily see further price fluctuations in the coming months.

I like these price levels though, so I’ll give it a shot. Boeing $BA for example is trading around 128€ today, which is a long way from the top of 440€ in 2019.

Here is my current list of stocks:

Company nameTickerPurchase priceCurrent price
AT&TT26.78$27.43$
Aurora Cannabis Inc.ACB4.69$9.79$
Boeing CompanyBA135.68$157.83$
Delta AirlinesDAL21.70$31.43$
Enterprise Products Partners LPEDP13.50$16.64$
Gilead SciencesGILD66.50$59.06$
The Hershey CompanyHSY132.90$149.38$
Nikola CorpNKLA30.80$19.58$
Occidental Petroleum CorpOXY10.50$10.01$
STORE Capital CorpSTORE19.50$27.29$
Schlumberger LimitedSLB16.95$15.22$
Spirit AirlinesSAVE9.79$17.70$
WisdomTree Platinum 2x Daily LeveragedLPLA2.41€1.98€

I trade on DeGiro, which I consider the best and cheapest no-bullshit broker in Europe. If you use this link to sign up we will both receive a 20€ in transaction reimbursement (fee deduction).

Bondora

I stopped reinvesting in Bondora* a long time ago and I’ve started the slow withdrawal process.

249.85€ was recovered in April but I still have 25 089€ in defaulted loans.

I invested in loans through Bondora’s “Portfolio Manager”. I advise you not to make the same mistake.

If you want to use Bondora’s Go&Grow as a savings account and earn 6.75% interest rate, use this link* to get 5€ free when you sign up.

See more info and screenshot from my Bondora account

Bulkestate

I’m have invested in 2 projects on Bulkestate* and the next payout is scheduled for 21.12.2020.

See more info and screenshot from my Bulkestate account

Crowdestate

The problems on Crowdestate* shows clearly in my income graph.

I’m slowly withdrawing funds as they are repaid.

I have 6 late and 1 defaulted project. It’ll be interesting to see how well Crowdestate handle the defaults and delays in 2020. The Corona virus is not going to make it any easier to recover my funds.

See more info and screenshot from my Crowdestate account

Crowdestor

Crowdestor* investors voted for individual Covid-19 recovery approach for each borrower.

In the official Crowdestor Facebook group, CEO Janis Timma has posted that several companies will not make use of the recovery period. Several companies will return to the original payment schedule soon.

If you want to become a shareholder in Crowdestor, the time is now. Crowdestor has started and funded the first two rounds of their equity campaign. The campaign is designed like a 26% interest loan with a 1 year duration, which can be converted into shares if certain conditions are met.

If their grandeur plan of becoming top 3 business Crowdlending platform in Europe works out, investors could have their money multiplied more than 50 times within 5 years.

I’d like to become a shareholder myself. Hopefully some of the projects I invested in will pay back soon, so I can reinvest the money into the next equity campaign.

See more info and screenshot from my Crowdestor account

FastInvest

FastInvest* is still processing withdrawals, even though they take longer due to the increased liquidity demand. I’m still waiting for my last withdrawal from April 16th. The last one took about 2 weeks.

See more info and screenshot from my FastInvest account

Grupeer

The Grupeer website is still up and they posted 3 times on their blog in April. The latest message says they predict stabilization within two years…

Really? 2 years? Don’t hold your breath..! A website which prepares for legal action has been created by Ido Shkedi.

See more info and screenshot from my Grupeer account

Mintos

I also bought some discounted loans from A-B+ rated loan originators in April, hoping the loan originators will survive and be able to buy the loans back. A risky strategy for sure, let’s see how it works out.

Mintos* tells me I earned 634.58€ in April (because of the discounts) but I don’t see it as profit until the loans are paid back. That’s why I only report pure interest earnings of 243.73€.

See more info and screenshot from my Mintos account

PeerBerry

I use PeerBerry* for my children’s savings account.

See more info and screenshot from my PeerBerry account

Reinvest24

My ReInvest24* account reached break even after 1 year of investing. Not impressive. This is mainly because funding of the projects takes months and no interest is paid out for most projects in the funding period.

Tanel, CEO of ReInvest24, will start to write quarterly updates on their blog, so we can see how their rental properties performs. That’s nice.

If you want to try ReInvest24 you will get 10€ instantly credited to your account if you sign up with my ReInvest24 referral link*.

For the whole month of May, Reinvest24 will give 2% Cashback to every user who invests at least EUR 500 on the platform.

See more info and screenshot from my ReInvest24 account

Robocash

Robocash* held a Live Web Cast on April 7th. In case you missed it, you can find the recording on YouTube.

See more info and screenshot from my Robocash account

Swaper

Swaper* is sending out weekly reports of their loan portfolio performance during the Covid-19 outbreak. According to their emails, they’re actually seeing lower default rates in 2020. That’s interesting, how is this possible?

According to Swaper, “These numbers are result due to of our changes in risk policy and debt collection procedures, which also decreased the amount of issued loans, however in order to maintain the quality of portfolio, we aim to keep the current policy for as long as it will be necessary.”

I really hope Swaper (and Wandoo Finance which is the mother company) will make it through the crisis, it’s such an easy and pleasant way to invest.

See more info and screenshot from my Swaper account

Viventor

Viventor* is a marketplace for loans like eg. Mintos and PeerBerry. I’m still testing it out to see whether it’s a platform I like to keep in the long run. The platform is working smoothly – so far so good.

I also bought some discounted loans on Viventor in April.

Viventor also posts Webcasts on their YouTube channel. I enjoyed watching this interview with Lars Wrobbel and Alexander Melis from IbanCar. IbanCar is a loan originator on Grupeer and Alexander shares his view on the Grupeer situation.

See more info and screenshot from my Viventor account

Wisefund

None of my Wisefund projects paid interest in April.

Wisefund sent out a survey, asking how investors would like Wisefund to act in order to optimize chances of getting our money back.

While I appreciate the “ask first” approach, I didn’t see any official “Sorry, our buyback guarantee was nothing but a marketing gimmick” message or post. Maybe I missed it…

Nevertheless, I hope the borrowers will thrive and we’ll get our investments back with a few months delay.

See more info and screenshot from my Wisefund account

Real Estate

I received rent from 4/5 tenants in April. 1 Tenant moved out on May 1st.

According to the contract the tenant has 3 months notice. I always collect 1 month prepaid rent and 3 months deposit, so even if the tenant doesn’t pay I’ll still be able to cover the rent for the legally binding period.

See more info about my First property and Second property

Savings rate / expenses overview

My total expenses for the month were 1 146€ including 800€ rent (the full rental amount).

My partner paid for most of the groceries and for our rental car. We’re paying 215€ per month for our current rental car, everything but gasoline included.

See more info about my Savings rate

Blog statistics

Visitors: 8 741 (-12.96% compared to last month)
Page views: 29 418 (-6.36% compared to last month)

3 065 Subscribers (+36 compared to last month)
1 528 Facebook followers (+15 compared to last month)

Quote of the month

“Every problem is an opportunity in disguise”
― John Adams

Safe access to work, streams and games

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Start your own blog

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Free EUR bank account with no fees

I use N26* to transfer to and from my investments. Even living in Portugal, it’s my main choice of bank.

If you live in Bulgaria, Croatia, Czech Republic, Denmark, Hungary, Poland, Romania, Sweden or the United Kingdom, having a EUR bank account will save you from currency exchange fees.

N26 bank account

That’s it for this month!

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P.S. When you comment, please use your real name (first name is enough). Blog names are not accepted and will be renamed to Anonymous.

31 Replies to “Portfolio update April 2020”

  1. Hey Jørgen, Great blog, appreciate your honesty. How does the drawdown in revenue affect your ability to stay retired – if it drags on? What are your thoughts on your risk level. In my view you’re extremely sector biased towards this lending market. It’s a young market and who knows how many of these lending companies might go bankrupt in a prolonged crisis. Your thoughts about the risk?
    All the best, Dennis

    1. Thanks Dennis. If the draw down continues, I will have to work harder to generate extra income. Long term, the risk level is way too high to live from the investment income alone. I’m already working on different ideas, it was never the plan to just sit and watch. Any company can go bankrupt so it’s important to diversify between asset classes. I’m okay with high risk here in the beginning but I will add safer investments to my portfolio as I progress. We all have to start somewhere. This portfolio gave me the motivation I needed to start pursuing financial freedom.

  2. Hey Jorgen, hope you are doing well.
    Almost 40% of your crowdlending portfolio is at Crowdestor, in very high yielding projects.
    You must be feeling quite comfortable having that much money in one P2P platform. Care to explain, what are your main reasons for having that big % at Crowdestor?
    Also, by the time being you must have a specific due diligence protocol you follow while making investments, care to share the most important parts?

    1. Hi Lucas. I was confident in Crowdestor before the crisis started. I still trust the team and hope borrowers will survive. I wouldn’t say I’m comfortable with the amount in this situation but there’s not much I can do about it. The important part of due diligence is that we need EU regulation and audited accounts. Other due diligence matters less when companies currently can change course at any time.

  3. Hi Jørgen, Thanks for the regular updates!

    Just wondering whether anybody tried to verify that the Wisefund borrowers are trully not paying the money and Wisefund is not just holding onto it. Would be good to check so we can take action potentially as soon as possible.

  4. Hi Jørgen,
    Thank you for sharing your investment portfolio! You mentioned that «If you want to become a shareholder in Crowdestor, the time is now. Crowdestor has started and funded the first two rounds of their equity campaign.» Is the campaign still available? I see nothing about that in the website…

    1. Hi Ricardo. The first 2 funding rounds of the equity campaign are already financed. Keep an eye on upcoming projects, more rounds will follow soon. I expect to see at least 2-3 rounds more in the next couple of months.

  5. Hi Jørgen. Congratulations for the website and all the good stuff 🙂
    Regarding the P2P lending, I have a doubt, how do you do with the taxes?
    I know that living in Portugal you have an amazing tax benefit, but all the values that you show are gross, before taxes? When you have a loss, like the amount invested in “Envestio” how do you deduct that loss from your profits? otherwise you might be paying extra taxes.
    Currently I am investing in P2P via my own company, but I still have the problem of what to do, when I have a loss. It might seem like a small detail, but without the possibility of declaring the losses the tax burden can be really huge.
    What are your views on this? Have you ever thought of investing via your own company?
    Best regards
    Jose

    1. If you have a loss you can deduct it, provide as much info on the scam, amounts and police report and it should work out fine in most countries. ( envestio u can deduct it 2021 since they tanked 2020)
      And tax is the same as if you invest in stocks and other things, you pay tax on the profit and should be able to get tax reports from most p2p platforms for the period you need depending on the laws in your country. Or do like me and move to a country where there is 0% tax on P2P investments, stocks and so on in some cases 🙂

      And Jörgen always interesting to follow ur updates

      1. Hey John, do you live in HK? Or what other place does not tax capital investment profits?

      1. I am sure FastInvest is a scam. I get regular updates from them promising 18% ROI and a great bonus for referrals. They also have time to fancy up their webpage and add a secondary market. However they do not have time to process withdrawals! I have been waiting close to 4 weeks for a withdrawal. My guess is that they do not have the money for withdrawals, what you see listed on your account is just “monopoly money” the real money is in the pockets of Zilvinas Vaitkunas. Fast invest has always been a bit dodgy, with not knowing the loan originators, but the not being able to withdraw money puts them in the same category as Envestio, Kuetzal and Grupeer.

        1. I’m also concerned about FastInvest, that’s why I’m withdrawing. 18% interest is not insane these days, you also get that on PeerBerry and Mintos has loans at 26%. If FastInvest wanted to disappear they could have done so already and blamed the virus for it. They’re implementing new features and introducing a secondary market and a withdrawal fee, which makes sense to stop 10€ transactions. Of course, they could do this to give the impression that everything is fine and they continue business like usual while the ship is sinking. It’s clear that they’re hurt by their own buyback feature and a bank run which makes them suffer in the liquidity department.

          1. True, 18% interest is not unheard of these days. I’ve recently invested in a REIT with a dividend close to 20%. And as you say Mintos has loans at 26%. Nonetheless, I’ll be happily surprised if I some day receive a withdrawal from FastInvest. It would be like getting back tax returns, even though it’s my own money it would feel like a gift 😄

  6. Shouldn’t you start counting the P2P income as Net Income? Otherwise that savings rate graph will look pretty sad until the end of the year.

  7. 83k invested in Crowdestor, I like it this is bold! you can make a good living out of it in a cheap country like Portugal. This is really inspiring, I will follow your track and invest in Crowdestor projects!

    1. Maybe bold but probably not wise! I urge you to do your own research before making any investments. Without EU regulation we never know what tomorrow looks like.

      1. Thanks for the tip, I have checked the Crowdestor site and it looks good to me. I have started to invest my 71k of savings which will be generate enough income for a good life in south east Asia, I am on the fast track for early retirement!

  8. I need to tell you, probably you will have to return to your home country. Your % of a P2P scamming (do you think its only 2 ??? next month you should add grupeer and on the next another one….) along with your investment in absolutely distressed companies (oil and airlines ) make me think that you will need to live only from the rents you have from your properties. Which should be fine for most countries.

    That will be your base line.

    Hope everything goes well with you but by the time you need the plane tickets will be a lot expensive

    1. No need to worry Jose. Going back to Denmark would only increase our expenses. It’s cheaper to live in Portugal so we’ll find a way to make it work. There’s many ways to earn 2-3k EUR per month, which is enough for our family. We live very modest. We could probably live on the rental income from my properties alone.

  9. Hello Jorgen! Your investment in real estate seems great, approx the buy to let ratio is around 10% right? That looks very promising, congrats on that. However it seems to me the rest of investments are not so good, I wouldn’t expect any positive return on your total on p2p lending, it sounds as lots of scams and too high “promise” yield to be true, and very risky stocks.

    Why this decision to invest and not a contribution to index funds monthly?
    Which tips would you give to get such great deals on real estate? Maybe more posts on it would be a nice read!

    Thanks!

    1. Hi Jonas! I’m happy with my rental properties, I think they’re a good investment. Not a passive investment but much more stable. Crowdlending seemed good for several years and I still believe in the model long term. This current crisis will make the best ones stand out and we’ll see who’s suited to survive in the future.

      The stocks might be risky but I like the price level which I bought at. Some of the stocks are up 30-40% already. I explained my decision to go for a few selected stocks in this blog post. I’m surely going to have 80% of my stock portfolio in ETF’s. I’m just buying the 20% speculative stocks now.

      If you’re patient you can find good real estate deals. There’s not much advise to give other than being on the lookout. I searched for approx. 1 year for each property to find something that fit my criteria. Real Estate is very specific to the region you live in, so it’s not suitable for a blog post with readers from all over Europe.

  10. Hi Jørgen nice blog 🙂 Are you considering buying more property in light of the new market we most likely have now ? I see that is your most steady and long “safe” investment.

    1. Hi Christian. My original plan was to get at least 5 rental properties. Once I feel comfortable being a long-distance I’ll start looking for another one.

  11. Hi Jørgen,
    Thank you for your open monthly updates.
    What do you think about the crowdestor equity campaign? Is it worth it you think. Assuming they are not a scam. I saw that the minimum invest is 5000 EUR if you wan’t to convert it to shares. And do you know if you are able to sell the shares after a couple of years so you can bring in the profit?

  12. Hi Jørgen, it’s been tough waving goodbye to hard-earned money, and I imagine you feel a great portion of betrayal from especially Envestio and Grupeer.

    I’m curious to know how your new life in Portugal is going, now that your affil income has pretty much vanished over night (I assume)?

    I remember that you were pulling in upwards of €20.000 monthly in crowd affil income at one point. Did you re-invest 100% of this, or did you partly use it to fund your move? 🙂

    Hope all is well!

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