Portfolio update March 2021

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



Dear fellow investors, friends, family and future self.

It’s April 8th today. According to the calendar it should be spring. Nature in Denmark doesn’t seem to agree though, we had hail and snow just yesterday. I can’t wait to move back to the warm and sunny climate in Portugal. Seeing the sun on a daily basis gives a huge burst to my well being.

My investment property #3 was bought on March 15th as planned. We live in the property while it’s being renovated. It’s not ideal, we don’t even have access to our own shower. But we manage and find alternative solutions. It’s a good way to save some money along the way.

I think I finally found a tenant for the apartment that has been vacant since March last year! We have a verbal agreement and I expect the tenant to move in on April 15th. It took about 6 months to finish the renovation of this apartment (due to Covid-19 and other factors) but 1 year vacancy is way too long.

In March I decided to withdraw a portion of my crowdlending portfolio, primarily because I want to see if I can earn better returns on the stock market. As a result my portfolio is much more balanced now, as you can see on my “Net Worth” page. I now have about 1/3 in crowdlending, 1/3 in stocks and 1/3 in real estate. I’m much more comfortable with this allocation.


Net worth: March 2021

Crowdlending Income Invested Value
Bondora* -118.36€ 7 309€ 5 838€
Bulkestate* 1 784.53€ – 2 567€ 215€
Crowdestate* 6.52€ 5 012€ 6 024€
Crowdestor* 664.27€ 68 972€ 86 356€
Mintos* 240.66€ 11 470€ 20 099€
PeerBerry* 83.82€ 6 000€ 7 448€
ReInvest24* 6.70€ 1 000€ 1 116€
Robocash* 118.89€ – 805€ 3 324€
Swaper* 221.07€ 2 500€ 8 250€
Viventor* 100.77€ 4 576€ 5 636€
3 108.87€ 103 467€ 144 311€
Real Estate Income Invested Value
Property #1 380€ 18 080€ 45 493€
Property #2 1 167€ 61 200€ 67 067€
Property #3 464€ 54 793€ 48 277€
2 011€ 134 073€ 160 839€
Stocks (DEGIRO*) 82 260€ 160 316€
Cash 5 028€
Total 5 119.87€ 319 801€ 470 494€

Comparing to last month

My Net Worth dropped 5 599€ from 476 093€ last month. This was mainly due to falling stock prices and our regular consumption of groceries, gasoline, etc.

I’m quite excited to see the future development of my net worth. This is the true metric to see if my life as Financially Free is sustainable, or if I quit my day job too early!

Monthly cash flow was up 2 138€ from 2 981€ last month. The huge spike was due to repayment of a ~1 year, 10 000€ investment in Bulkestate. Read more below.

Crowdlending updates

A couple of things worth mentioning related to my crowdlending investments:

Bulkestate* paid back another successful real estate project (Blaumaņa Street 9, Riga) and I received a nice 1 784.53€ interest payment along with my 10 773.15€ invested principal. The project was delayed 4 months but full interest was accrued in the extension period. Overall, I’m very happy with my investment experience there.

Most projects are 1 year duration on Bulkestate and I’m not sure how much money I’ll need for different projects in the near future. For this reason I’ve withdrawn most of my funds for now, but I plan on coming back.

Crowdestor* has more delayed projects than ever. However, I still see some of my projects being paid back in full and there’s no official losses yet (although project “Fertilizer Export Financing” very well could be the first of a couple to come). The high interest rates offered (often 20-25%) should be enough to offset the risk.

Other projects like the gaming project “Dystopia” seems to be a big success. I play the game myself and I see lots of players spending huge amounts of money on it! From my perspective, the borrower shouldn’t have any issues paying back their loans.

Investors in the “Warhunt” movie received an invitation to watch the premiere in Riga on April 14th! I love that investors are invited to be the first to watch it on the big screen. It’s pretty exciting to have invested in a movie, I can’t wait to watch it with my girlfriend.

Robocash*, Swaper* and Mintos*: The power of these platforms is that they’re very liquid. If you need your money, you’re able to withdraw most of it very quickly. As mentioned above, I reallocated some of my crowdlending portfolio into stocks and Robocash, Swaper and Mintos was among the platforms I reduced. Not because they’re bad, they’re actually some of my highest conviction platforms. I reduced them solely because they’re liquid and I hope to get higher returns in a few selected stocks which I think have 2x potential in the next 12-24 months.

Viventor* is struggling with most of their loan originators. To my surprise, defaulted loan originator “Aforti” paid back my loans (which were due 1½ years ago), including interest! That was nice to see. However, now that Atlantis Financiers, Twinero and Monify are in the same situation. Fighting to get my money back on Viventor seems to be an “up-hill battle”.

If we can trust Grupeer, some progress is being made in effort to get our money back. Read more in this blog post from March 31st. While it’s nice to read some good news, I expect it will take at least another 6-12 months before any kind of money is returned to my bank account.

Crowdlending charts for each platform are still available and updated every month! Find them in the “Crowdlending” top menu.

Daily interest on your bitcoin

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Best European stock broker?

I buy my stocks and 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).

Free EUR bank account with no fees

Do you live in Denmark, Poland or Sweden? Having an N26* bank account will save you from currency exchange fees when dealing with euros!

I use N26 to transfer to and from my investments. It even comes with a free debit MasterCard. N26 is by far my favorite banking provider!

N26 bank account

That’s it for this month!

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17 Replies to “Portfolio update March 2021”

  1. Hey there,

    From which P2P lending platforms did you withdraw money and how much?

    Looking forward to your reply.

    1. Hi Lukas,
      I withdrew from all platforms where ever possible. If you want exact number you can compare last month’s “invested value” per platform to this month.

  2. Hi Jørgen. I was just wondering (and I know it’s not the most uplifting question, but), do you have an overview or general idea of how much you’ve lost on crowdlending (expected) up until now in total? Of course there have been some nice gains over time on the good loans/sites, but I expect the larger one time right-offs are bringing the net gains into the negative? Btw, good to see that you’re balancing out the portfolio a bit more and I like the net worth overview (I probably wouldn’t go for single stock picking but to each their own:))

    1. Hi Jens. I’ve lost 24700€ on Kuetzal and 20000€ on Envestio. There’s no hope of recovery from Kuetzal as no assets have been seized. If I remember correctly, about 5M EUR of assets have been seized from Envestio so there’s a small hope of a minor recovery from them. I’ve also written off 20000 on Grupeer and 17807€ on Wisefund, even though they’re not technically lost yet.

      1. Hi Jørgen,
        Thanks for the reply. Note that it looks like value in the value column for Mintos, Swaper, and Robocash have not been updated so it doesn’t match the total.

        1. Hi Jens,
          I had forgotten to update the value column for all crowdlending platforms! It’s updated now. Thanks for pointing it out!

  3. Hi, great update and thanks for sharing:-) where in Denmark do you buy your properties? And how do you manage to finance them without having a dayjob? I got back to corporate alone to be able to get a house mortgage…Br Sarah

    1. Hi Sarah,
      My properties are located in 3 different small cities in Jutland/Jylland with less than 5k inhabitants. It’s tough but it’s possible to get a mortgage without a day job. As for the first two properties, I was employed when I bought them. To buy the 3rd property, I had to switch to a local bank to be approved for a mortgage. Most banks won’t do it, even though they don’t have to lend me anything (it’s the mortage broker who gives the loan but the bank has to approve me). The new bank said okay after seeing proof of investments and by agreeing to transfer our banking activities to them. The previous bank required some sorts of proof of regular income, rental income from other rental properties was not enough. On top of that, they had unreasonable high requirements for “free cash margin” – something like 2000€ AFTER all fixed expenses.

  4. Hi Jorgen,
    didn’t you ever think about Interactive Brokers? Or why is Degiro better, could you compare?

    thanks
    Eduard

    1. Hi Eduard,
      I heard about interactive brokers for the first time about 6 months ago. They have an interesting option to borrow on margin at very low price. Don’t know much else about them to be honest. I might try them one day.

  5. Yee, I like them very much, good options for technical analysis and a margin loan for only 1,5% per year are nice 🙂

  6. Hi Jorgen! What do you think about the latest Mintos updates?
    ”From 12 Apr 2021, you will be able to choose investment settings based on individual lending companies. Until now, it’s only been possible to invest at the lending group level with global settings.”

    Will you use this new feature?
    I would appreciate if you could update the status of the automatic Mintos strategy.

    Cheers!

    1. Hi Bogdan,
      The recent changes are not going to change anything for me. I’ve set my auto-invest strategy to invest in lending companies with a rating of 8 or higher. If it doesn’t find any loans, it moves on to rating 7 or higher. If it doesn’t find any at 7, it doesn’t invest.

  7. hi, appreciate that you keep sharing updates. Times are still hard, it feels like this covid is moving too slow for businesses to recover before they go bankrupt. I appreciate also that you mentioned how much you lost on P2P investments, I lost 10k each on envestio and Keutzal. Unfortunately it’s not all positive on the road to financial independence.

    1. Hi Jessica,
      I’m glad you like the updates. Times are still rough indeed. No matter which road you take towards a bigger goal, there will always be some bumps and hurdles. No path is straight. If it was easy, everyone would do it. I think, knowing these bumps are inevitable, makes them easier to digest. Just keep planting seeds and eventually we’ll be able to harvest more than we planted.

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