Portfolio update July 2019

Portfolio update May 2019 : P2P investments Envestio Bulkestate Reinvest24 Viventor FastInvest Swaper Robo.cash Twino Mintos Bondora Crowdestor Crowdestate Grupeer Kuetzal reviews

Hello fellow Financial Freedom and Wealth seekers!

Can you believe the summer is almost over? I’m crossing my fingers for a warm and pleasant August and looking forward to visiting Portugal in the fall.

We’re currently enjoying 14 days of vacation in Norway, spending time with family and attending a wedding (yep, second wedding this summer).

Now to this month’s portfolio update.

I decided to remove the “Invested” column from the overview table to improve readability on mobile devices. You can still see how much I invested on the individual pages in the Crowdlending menu.


Monthly Income Statement: July 2019

Crowdlending Income XIRR Value
Bondora -264.37€ 6.56% 19 749€
Bulkestate 0.00€ 4.47% 10 100€
Crowdestate 78.65€ 6.87% 7 894€
Crowdestor 248.73€ 14.63% 37 208€
Envestio 410.15€ 21.58% 27 959€
FastInvest 55.35€ 17.24% 4 946€
Grupeer 206.57€ 15.87% 17 112€
Kuetzal 173.15€ 25.57% 15 465€
Mintos 280.51€ 17.57% 20 570€
ReInvest24 1.27€ -9.15% 981€
Robocash 161.41€ 10.71% 11 255€
Swaper 139.26€ 14.47% 11 497€
Twino 37.91€ 13.38% 3 227€
Viventor 14.46€ 6.68% 2 015€
1 543.05€ 10.94% 189 984€
Real Estate Income Equity
Property #1 691€ 38 413€
Property #2 1 162€ 56 994€
Total 3 396.05€ 285 391€

That means I’m 113.20% Financially Free (up 50.25% from last month). The addition of the second property made a huge difference 🙂

With 3 000€ per month (before taxes) I could technically quit my day job and live from my investments.

While it’s very nice to know that my expenses are covered, I wouldn’t feel comfortable living on 3 000€ long-term.

I’ll take a moment to yell “HOORAY!” and then rush on to my second goal of 7 000€ per month, which is the target where I’ll feel comfortable retiring.

Portfolio performance: Historical view

Income from all investments (Crowdlending and Real Estate) was 3 396.05€.
(1 507.53€ more than last month).

“Income from Crowdlending” alone was 1 543.05€.
(345.53€ more than last month).

“Crowdlending (except Bondora)” reached 1 807.42€.
(321.71 more than last month.)

Bondora

Recoveries on Bondora increased slightly in July. There’s plenty of room for improvement though, I still have 25 993.21€ in defaulted loans.

232.16€ was recovered from defaulted loans in July.

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.

See more info and screenshot from my Bondora account

Bulkestate

Bulkestate doesn’t pay interest on a monthly basis so there’s not much to report here.

First interest repayment is scheduled for 27.12.2019.

5 new projects were released since last update though. 4 of them are already funded.

See more info and screenshot from my Bulkestate account

Crowdestate

I have 3 delayed payments on Crowdestate. Still, I managed to set a new monthly record due to a 9€ late fee. Delayed payments are not too bad, if they end up paying eventually.

See more info and screenshot from my Crowdestate account

Crowdestor

Crowdestor is my favorite platform at the moment.

I know it would probably be smart to diversify further, Crowdestor is already the platform where I’ve invested most of my money.

But when I saw the “Sweet Dreams Samloem Resort” with an 8.5/10 review score from 1 525 reviews on Booking.com and an interest rate of 19.5% I had to throw another 5k at them.

Most of the recent projects with high interest rate start paying after 6 months. This means that my monthly repayments on Crowdestor will be significantly higher from December and onwards.

While we’re waiting for Envestio to publish new opportunities, Crowdestor is cranking out projects like there’s no tomorrow. Not less than 6 new projects will be available for investment in the coming days and 1 project is open right now.

  • Hostel Renovation (Round 2): 15% interest rate and 12 month loan period.
  • Construction company working capital: 15% interest rate and 12 month loan period.
  • Warehouse Daugavpils: 12.8% interest rate and 18 month loan period.
  • Renewable energy: 14% interest rate and 9 month loan period.
  • Indoor beach volleyball center: 14% interest rate and 9 month loan period.
  • Drum School: 14% interest rate and 6 month loan period.
  • Construction company working capital (office buildings): 14% interest rate and 24 month loan period.

See more info and screenshot from my Crowdestor account

Envestio

Envestio released one project (2 tiers) in July. They are finalizing the contract with a big partner – more projects should come soon.

One of my readers, Silver, asked Envestio support about release of future projects. It’s good to know what to expect, right? He was so kind to share their answer with me:

New project tomorrow guys 🙂

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

I’m still happy with the performance on FastInvest. That said, I’m starting to get a little impatient about information about their loan originators though.

For those of you who are investing with FastInvest, here’s something you might not know:

Do you wonder why cash is building up even though you have enabled auto-invest? Your auto-invest is only reinvesting principal. All interest earned is not being reinvested unless you do it manually.

I asked support and this is intentional. FastInvest is the only platform which does it this way though.

Unfortunately you cannot enable “reinvest interest” in your settings. I’ve asked FastInvest to put it on their to-do list – hopefully they will introduce this feature later.

See more info and screenshot from my FastInvest account

Grupeer

More than 200€ earned in July on Grupeer. First time I’m hitting the 200€ mark – feels good.

See more info and screenshot from my Grupeer account

Kuetzal

No new projects on  Kuetzal in June but there’s still several open projects which needs funding.

The good thing is, you don’t need to wait for the funding to be completed, you earn interest from the day you invest.

I added another 5k to my account last month, bringing my investment to 15k EUR.

I might add another 5k to take further advantage of the Summer Cash Back Campaign which pays up to 3% CashBack. It’s active until the end of August.

Kuetzal cashback marathon campaign

OBS! You need to invest the displayed amount into 1 project to get the cashback. If you put 200€ into 5 different projects, you will not get any CashBack.

If you want to give Kuetzal a go you can use the promo code FINANCIALLYFREE to get a 15€ gift, instantly credited to your account.

Mintos

The addition to my Mintos account last month provided a nice bump to my earnings. 280€ earned in one month!

I’d like to bring my Mintos portfolio to 30 000€, hopefully this year.

If you sign up with Mintos through my link you’ll get an exclusive 1% cash back bonus on all investments you make within the first 90 days from your registration.

See more info and screenshot from my Mintos account

Reinvest24

I received my first interest payment on ReInvest24!

A stunning 1.27€…..

Unlike platforms like Crowdestor, Envestio and Kuetzal, ReInvest24 doesn’t pay anything until the project is funded, which is a major bummer when it takes months to fund a project!

While the idea behind ReInvest24 is brilliant, I think they need to do something to pay investors earlier.

Robocash

Several “1-year Installment loans” were paid back on Robocash which led to a record of interest payments in July.

When the rest of the installment loans are paid back in a few months I expect the monthly earnings to stabilize around 115€ per month.

See more info and screenshot from my Robocash account

Swaper

The cash drag on Swaper is definitely getting better. My funds are being reinvested almost every day now. If this continues I might deposit more money to my account.

You still need to enable auto-invest though, the loan list is still empty most of the time.

See more info and screenshot from my Swaper account

Twino

On Twino I’ve been lucky to earn some money on currency fluctiations on the Russian Ruble but I’m really not a fan of currency exposure.

Without currency exposure, I’m stuck with lower yielding loans which I don’t find attractive.

See more info and screenshot from my Twino account

Viventor

A couple of months ago I included Viventor in my portfolio – I started out with a small 2 000€ deposit just to see how it works.

I was hoping to catch 16% interest loans regularly – but it’s not really happening.

The loan originators “Aforti Factor” and “Aforti Finance” who were primarily offering the 16% loans might be in trouble:

It’s another Polish loan originator in trouble – I hope it will not be the next Eurocent. Aforti is on Mintos as well but there’s no loans available on the primary market – coincidence or is Mintos aware and keep quiet?

Furthermore, Toms Niparts left Viventor to run his own start-up. Toms was the primary reason why I wanted to get involved in Viventor.

The problems with a loan originator and a new CEO is enough for me to go into “wait-and-see” mode. I’ll not deposit any more until I see better communication from Viventor and the issue with the loan originator is solved.

See more info and screenshot from my Viventor account

Real Estate

The second property is up and running and I received all 3 rental payments on time – very nice to see!

One of the tenants in the second property called and complained about a clogged drain in the kitchen sink. I called a plumber who fixed it the same day. I would usually do it myself but I was on the ferry to Norway so I had to pay for it this time.

The empty apartment in my first property was refreshed with new paint and cleaning. The new tenant moved in and paid rent on time as well.

See more info about my First property and Second property

Savings rate

My savings rate for July was 26.74% (-46.26% compared to last month).

My income was the lowest in more than a decade. I only received 14 days of pay and the small compensation for being on paternity leave hasn’t arrived yet.

The next 3 months will be about the same low level around 1 600€.

While low income sucks it’s nice to get a feeling of being retired. I think I could get used to this quickly!

See more info about my Savings rate

Blog statistics

Visitors: 11 735 (-9.36% compared to last month)
Page views: 49 734 (+8.53% compared to last month)

1 853 Subscribers (+153 compared to last month)
902 Facebook followers (+79 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!

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Free international transfers

In Facebook groups and on investor forums I see people praising Revolut for very fast transfers and zero fees. I tested it and I must admit – it’s really good.

It’s probably the cheapest and fastest method to deposit to your investments. You can even get a free VISA card.

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65 Replies to “Portfolio update July 2019”

  1. Enjoy your vacation Jorgen and congrats on the new property and milestone.

    Envestio finally introduced autoinvest. I think you should add this in your report. I added it in mine which will come out n 1-2 days.

    Cheers!

    1. Thanks Shlomo. I left out the auto-invest “news” on purpose – every Envestio investor already received an email about it and several other blogs already mentioned it 🙂

        1. Sorry Ivan, I need to optimize for mobile view as well (or Google will hate me) and there’s not enough space for it. You can still check the individual pages to see detailed information.

  2. Great news Jørgen, congratulations on becoming financially free! Onwards to the second goal!
    I’m still far away from €3000 p month, but we all need to start out somewhere. 🙂 I definitely need to find out some details about acquiring property for rental in the Netherlands.
    Keep up the great work on your blog!

    1. Thanks Eric! I agree, it’s pretty amazing to have hit my first goal in less than 5 years. Rental properties is a great way to leverage your investments and reach FI earlier.

  3. Hooray indeed! Glad too see you’ve reached your goal..and jumped straight to the next one!

  4. Hi Jorgen,

    First of all, thank you for this blog and congratulations on achieving one of your goals.

    What do you think of a new investing tool from Mintos – invest&access?

    Regarding Aforti, in Poland, there is a project of a bill which is aimed at lowering the profits of loan companies. According to many specialists it will result in bankruptcies on the market – what do you think about it? You can read about it for example here: http://shelfcompanies24.com/draft-new-polish-anti-usury-bill/

    1. Thank you Greg!

      Mintos Invest&Access is a good tool for those who don’t want to spend any time managing their portfolio on Mintos.

      Regarding the anti-usury-bill, I think it’s fair that there’s some regulation in place to make sure loan originators don’t take unfair advantage of borrowers. The interest they pay is quite high already.

  5. Congratulations on reaching your goal!! I hope you enjoy Portugal. We have good food and you can do a bit of everything 🙂 cheers

  6. Ciao Jorgen,

    I use Viventor as well, but I cannot find any communication regarding Aforti Factor.
    Can you please tell me where you find it?

    Thank you,
    Emanuele

    1. Hi Emanuele,

      You only see the information if you have a loan from Aforti. The information is displayed when you view the loan details.

      Buyers on the secondary market will not have a clue until they buy a loan from Aforti. Not very professional!

  7. Gz on achieving the first HUGE milestone!
    I can’t believe what kind of a progress you’ve accomplished since I first read your blog 2 years ago. INSANE!

    Also, are you aleady on a lookout for the third property?

    Cheers!

    1. Thank you! I’m also amazed that I reached the first goal so quickly. I wonder how the next five years will evolve.

      I’m always looking for good property investments but I don’t have enough money for another down payment yet.

  8. We are having a really strange summer here in Pt, it’s almost raining today (!!!!). Maybe next fall will be nice and warm, it has happened before.

    1. Bad weather in Portugal = *almost* raining. Love it!!
      When I think about moving to Portugal… – if there’s one thing I’m not concerned about, it’s the weather.

  9. Congratulations on your milestone!
    3K/month is quite something!

    I have a question regarding Crowdestor, and their “Sweet Dreams Samloem Resort” offer.
    I was interested in this opportunity also, but I took a closer look at the details they provided, and I became a bit sceptical about the data they provided (can’t see it now, since it is for investors only, and funding ended)

    One of the most striking discrepancies is that they budgeted under 12% of revenue for taxes and other expenses.
    I did some basic checking of the Tax System over there, and unless they are in a special project area, marked for development, the taxes are way higher than this (more in the 30% area)

    This made me think, how they will reach their presumed monthly profits, assuming they actually pay taxes.

    I also saw that they had some “copy paste” effect on the predicted profits based on the high/medium/low season.

    Did any of these discrepancies make you question the quality of the data provided on the platform?

    Maybe I am being overly paranoid, but it didn’t give me the confidence to invest.
    How did you reconcile these discrepancies?

    1. Thank you dyjohnny!

      I’m probably not like the typical investor. When I invest I spend my time on due dilligence with the platform. If I like the team and I trust the people behind, I rarely go too much into details with the individual projects. I believe they have better knowledge and insights than I do! When I do due dilligence these days, it’s more like a sample control, to make sure the quality of projects is still good.

      When I started investing I used to due a lot of due dilligence on every project as well. Everytime I found something that looked weird I asked support about it. They always had a good explanation and most questions arised from my own ignorance.

      I’m glad that other people help to do due dilligence on individual projects and share their findings with me. I encourage you to reach out to Crowdestor’s support with your question.

      In short: I trust the platforms that have passed my initial filter until/unless they prove to be incompetent over time.

  10. Enjoy the holiday, Jørgen! What do you think about the S&P500 dropping and several financial newspapers warning for a looming economic recession. Will it negatively affect the P2P platforms in a noticeable way?

    1. Hi FFat40,
      I have absolutely no clue what would happen to crowdlending in a serious recession. Loan originators could default because of missing payments OR they could have the time of their lives because a lot more people would need to take a loan. I try not to speculate or guess about any outcome. I just keep on investing and adapt and adjust when I see a need for it.

  11. Thanks for the great update and the info on Envestio! I added some extra money to Envestio after your previus monthly update and got it invested really fast, before that I had had trouble getting into the projects so the addition of autoinvest and larger priojects have really been helpful.
    Have you thought of increasing the first goal as now you have an additional family member or was she already included in the calucations?
    PS: I think it should be Paternaty leave (if you are talking aboud yourself and not your wife).

    1. My pleasure Snowy! Glad to hear that your funds got invested on Envestio. The auto-invest function should help to avoid cash drag.

      I have not thought about increasing the first goal after the new baby was born. Sure, it’ll raise our expenses a bit but it wont be much the first 4-5 years. We have lots of clothes, shoes and other equipment from our eldest daughters.

      You’re right, I thought paternity was slang and not a real word. Thanks for pointing it out!

  12. Congratulations on the amazing progression towards your goal!
    Read with great interest and concern the news about Vivientor, since it also affects me. Do you know if Aforti sells through any other platform (other than Mintos)?
    At least there are some positive news from Envestio…

    1. Thanks Crowdexpert. Aforti also had loans on Debitum Network but they were not affected because all loans were bought back on July 25th.

  13. Congrats on reaching your first goal, Jørgen! Well done!

    Is Property #3 already in the making, or are you taking a little break from property investing now (with your newborn and everything)? Or are you saving up for the Portugal move? 😉

    1. Hi Janis,

      I use the most basic version to calculate my savings rate:
      (Income – Expenses) / Income

      I include my day-job salary payout in my income, nothing else. Everything I spend is included in my expenses, from a pack of chewing gum to rent and car insurance. Note that my girlfriend pays 50% of our combined expences.

      1. Net income in the savings rate table is after the tax, right? (Name suggests it but just to be absolutely sure).
        Also just to note that in the Savings rate page you mention child benefits are included in the Net income. I know its not a lot but over a year should be couple of thousand EUR.

        1. Yes, it’s after tax income. You’re right, child benefits are included but I also pay 100% of the day care expenses, which adds up to more than the child benefits.

  14. Congratulations! Could you tell us more about your second property? I find it crazy how much you can get out of it for such a purchase price. In Austria, you would get max 1000 euros per month from a 220k appartment. Is this just the situation in your country overall? Or you find the gems?

    1. Thanks Alexis. Remember it’s not 1 apartment, it’s 3 rentals in 1 property. That makes a huge difference in earnings. To get this kind of return I need to invest in smaller cities with 3-5k citizens.

    1. Yeah it’s not a good sign for Aforti. They had a great 2018 as far as I know so I wonder what’s going on. Hopefully it’s only temporary but I’m not too optimistic.

  15. Hi Jørgen, congrats for your first goal!
    I follow you in last months and i have a question: How do you calculate XIRR?

    Another question is about real estate. Did you buyed a property 56 994€ and rent it 1 162€ per month? it’s a very hight interest rate!! Here (in Italy) there is not such entusiastic percentual rate! These are normal rate in your country or you have any tips to buy so low or rent o hight?

    1. Thanks Matteo,

      If you google “How to calculate XIRR in Excel” you’ll find plenty of examples.

      I paid 56 994€ for the down payment of my second property. The combined rent of the 3 rentals are 2 347€. From that amount I estimate earnings of 1 162€. To get this kind of return I need to invest in smaller cities with 3-5k citizens. In bigger cities with 50k citizens or more, I would have to pay double (or even triple) the price to get this kind of income.

  16. Hi Jorgen, congratulations for reaching your first milestone.

    I invested last month in kuetzal and my first payment should have been yesterday as specified in the payments schedule. I was thinking that it’s similar to envestio when it shows up only the day after in my account. But it didn’t show up today in my kuetzal’s account. What should I expect? What is your experience with kuetzal so far? Thank you in advance.

    Kind regards,
    Ovi

    1. Hi Ovi,

      Thank you!

      Which project did you expect payment from? I received payment from the “Row-House in Marupe” on August 7th.

      Could you send me a screenshot of your payment schedule to jwolfdk@gmail.com?

      Best regards,
      Jørgen

  17. Good review once again!

    Have you considered publishing your blog income? I think many of us would be interested 😉

    1. Thanks Erik. I did publish my blog income at some point but decided to remove it again because it shifted the focus away from the investments. Maybe I will post it again at some point.

  18. Hi. Where is the second property located? Rental income seems very high for a 200k property. When ive looked at properties that have high rental income but low prices they all seem to be very low quality properties i wouldnt feel comfortable renting out.

    1. Hi Mikael. The second property is located in a small town called Hornsyld near Horsens in Denmark. The quality of the property is very good, it’s been renovated not too long ago. It used to be owned by a Danish bank and they have kept the buildings in great shape.

  19. Hi i can see youre from Denmark, so i assume you heard about Brickshare.
    If you have, what do you think about it? If you look at it with a long term perspective.

    1. Sorry for the late reply Cesc. Yes, I’ve head about Brickshare. I prefer platforms outside Denmark with higher returns and monthly repayments so I’m not going to invest in it.

  20. Hello,

    What is your opinion now about Crowdestate after your current delays and considering is now only in 9th 10th position in your portfolio allocation?

    1. Hi Miguel,

      I think it’s still a good platform. I like higher risk/return, that’s why I have invested more in other higher yielding platforms.

  21. Great update once again! – really nice progress overall, congrats! 🙂

    I would however like it better if XIRR was removed to improve readability and then have kept the “invested” column, but maybe that’s just me.

  22. Hi Jorgen,

    I was curiosus about how do you diversify your investments within Grupeer? Do you split per type of loans or per loan originators? If so, can you please overally explain your approach?

    thanks,

    1. Hi Miguel. Sorry for the late answer!

      I trust Grupeer’s ability to select good loan originators and I don’t put too much effort into diversifying. I’d rather take the highest interest rates available.

      My main diversification comes from investing in many different platforms, I think that should be enough. Every investor’s prerefence is different though so make sure to select the approach that gives you the better sleep at night.

  23. Hi.

    Aren’t you concerned about loosing a fair share of investments when the next economical crisis happens? The possibility of getting back investments in defaulted loans does not seem too bright taking into account the policies of vast majority of P2P landing platforms.

    1. Hi, sorry for the late reply, I must have missed your question.

      I’m not concerned about losing money on defaulted loans. If a loan originator with buyback guarantee defaults, well that’s the risk I’m taking. There’s risk in every investment but I’d rather take that risk than getting the bill 20 years from now for not having invested at all.

  24. Hello Jorgen. First of all – congratulations! Second thing – I like it how you keep everything simple – calculations, graphs. Could you tell me how do you gather the informations about every expense? Do you use excel on mobile phone or take a photo of every bill?

    1. Hi Karol,

      Thank you for the kind words! To keep track of my expenses I use a website called spiir.dk which is connected to my bank account. It automatically collects and categorizes all transactions. It only works for Danish users though.

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