Portfolio update May 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”.

My Crowdlending income is still heavily affected by the 3 month grace period given to the borrowers by some of the platforms. May was the last month of grace so it’ll be exciting to see if we return to normal values from next month.

While Crowdlending has been somewhat uneventful, the stock markets have been on steroids.

Let’s see how my portfolio was affected in May:


Monthly Income Statement: May 2020

Crowdlending Income XIRR Invested Value
Bondora* -494.34€ 2.23% 9 853€ 12 133€
Bulkestate* 0€ 10.12% 10 000€ 10 989€
Crowdestate* 16.61€ 5.78% 5 648€ 6 702€
Crowdestor* 0€ 13.47% 82 912€ 91 438€
FastInvest* 17.07€ 16.13% 1 350€ 2 192€
Grupeer 45.33€ 13.52% 20 474€ 24 047€
Mintos* 290.80€ 18.13% 20 000€ 26 132€
PeerBerry* 87.16€ 14.31% 6 000€ 6 600€
ReInvest24* 1.63€ 0.18% 1 000€ 1 003€
Robocash* 186.50€ 12.55% 10 000€ 12 732€
Swaper* 114.34€ 14.02% 10 000€ 13 798€
Viventor* 61.46€ 13.70% 5 000€ 5 655€
Wisefund 0€ 20.26% 17 853€ 20 626€
Scams XIRR Invested Value
Envestio -100% 20 000€ 0€
Kuetzal -100% 24 700€ 0€
Subtotal 326.56€ -3.30% 244 792€ 234 053€
Real Estate Income Invested Value
Property #1 380€ 44.22% 18 080€ 42 459€
Property #2 1 167€ 2.82% 61 200€ 62 799€
1 547€ 79 280€ 105 258€
Total 1 873.56€ 2.55% 324 072€ 339 312€

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

Portfolio performance: Historical view

Income from Crowdlending & Real Estate combined was 1 873.56€.
(8.15€ more than last month).

That means I’m 62.45% Financially Free (0.27 percentage points up from last month).

Stocks

This is my current stock portfolio:

Company nameTickerPurchase priceCurrent price
Boeing CompanyBA135.68$173.22$
Delta AirlinesDAL21.70$30.64$
Enterprise Products Partners LPEDP13.50$17.48$
General ElectricGE5.51$6.37$
Gilead SciencesGILD66.50$66.40$
The Hershey CompanyHSY132.90$150.25$
Nikola CorpNKLA30.80$39.09$
Occidental Petroleum CorpOXY10.50$12.42$
STORE Capital CorpSTORE19.50$27.54$
Schlumberger LimitedSLB16.95$18.50$
Spirit AirlinesSAVE9.79$17.35$
United States Steel CorpX7.63$7.76$
WisdomTree Platinum 2x Daily LeveragedLPLA2.41€2.15€

Some of you were concerned about the troubled sectors I picked but I had a feeling that Oil and Airlines were beaten down too much. As Rotschild said “The time to buy is when there’s blood in the streets”. This is exactly what I did and it seems to pay off.

My stock portfolio is up 89.47% since I create my account in March. It’s unrealistic to see how much they gained in such a short time.

I have not sold anything yet, so I can still lose a big part of the profit if the markets correct again.

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). I don’t receive any commission besides the fee deduction.

Bondora

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

110.03€ was recovered in May but I still have 25 653€ 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.

3 new projects were published in May and Bulkestate had no issues funding them despite the pandemic. Bulkestate has a strong history and investors show their loyalty even in tough periods.

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.

According to Crowdestate’s latest performance report, 31 projects made repayments in May. 40 projects were late and from 24 of these are more than 90 days late. Not encouraging numbers. You can find more information on Crowdestate’s statistics page.

See more info and screenshot from my Crowdestate account

Crowdestor

One of my Crowdestor projects, Fertilizer Export Financing, was supposed to return the loan on May 30th. The same day, Crowdestor wrote an email to investors to inform that the payment would be 1-2 weeks late, even though the borrower already paid back:

So no interest payments for me in May. I have a long list of projects which should repay in June though so I look very much forward to that.

Crowdestor has started and funded 3 of 5 rounds of their equity campaign. The 4th round will open in 24 days on July 1st.

The equity investment is designed like a 26% interest loan with a 1 year duration, which can be converted into shares if certain conditions are met.

OBS: You need to invest 5 000 EUR into the equity campaign in order to convert the loan into shares.

If Crowdestor’s 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.

While I think that kind of return seems far fetched, I’d like to become a shareholder myself.

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 May 4th. The last withdrawal took about 4 weeks to process.

For some reason I haven’t received any repayments since 27.05.2020. Usually I receive small repayments every day. I’ll reach out to FastInvest tomorrow to hear what’s going on.

See more info and screenshot from my FastInvest account

Grupeer

The Grupeer website is still up and they posted 2 times on their blog in May. At the same time, legal action against Grupeer is being prepared.

Grupeer wrote on their blog that they will announce an action plan for repayment of investments in June. If we can believe what they say, their bank accounts should also be open no later than by the end of June.

My account was surprisingly credited a few payments in May but as their bank account is frozen, withdrawals are still suspended until the matter is resolved.

See more info and screenshot from my Grupeer account

Mintos

Many loan originators on Mintos* are troubled one way or another. The latest loan originator to be suspended from the market is CashWagon Vietnam. They are being investigated by the police for charging higher interest rates than what is allowed by the law.

8% of my Mintos portfolio is in CashWagon loans.

See more info and screenshot from my Mintos account

PeerBerry

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

PeerBerry seems to be optimistic about the future and added a new Loan Originator “Senmo – Aventus Group” in May. Let’s hope Senmo doesn’t charge it’s clients as much as CashWagon.

See more info and screenshot from my PeerBerry account

Reinvest24

One of my ReInvest24* projects repaid less than usual in May, I’m not sure why. I reached out to the CEO for an explanation.

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

See more info and screenshot from my ReInvest24 account

Robocash

Good month on Robocash*.

The 60 day buyback kicked in for many loans which explains the higher than usual repayment.

See more info and screenshot from my Robocash account

Swaper

The Covid-19 pandemic seems to be “business as usual” for Swaper*. Their loans have not been infected much at all, which shows in my income graph:

Swaper launched a 2% cash-back campaign for new investors running from 4th of June 2020 until 4th of July 2020. You can read the terms and conditions for the cash-back campaign here.

If you want to sign up to Swaper and enjoy the 2% cash-back bonus you can use this link*.

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.

The big question now is whether their loan originators will come out of the pandemic alive. If many of them fail, so will Viventor.

Viventor continued their Webcast series on YouTube, this time talking about  “Onboarding and monitoring of Loan Originators“.

I bought a few -7% discounted loans on Viventor in May, mainly from the loan originators Kviku and Twinero. I received several repayments from both of them in April and May so I though it was worth a shot. Twinero seems to be the most troubled of the two.

See more info and screenshot from my Viventor account

Wisefund

Wisefund implemented a 3 month grace period in March. According to the “Expected Account Transactions” list in my Dashboard, projects should start paying again from 30.06.2020.

Fingers crossed.

See more info and screenshot from my Wisefund account

Real Estate

I received rent from 4 tenants in May. One apartment is currently vacant.

After inspecting the mold problem in one of the apartments, I decided to not charge the tenant for 2 months of rent.

The inner walls were flawed and the apartment is now being renovated to ensure a better indoor climate. It will cost me 10-15k EUR to fix it. A tough bill to swallow, but it needs to be done so I can rent out the apartment again.

See more info about my First property and Second property

Savings rate / expenses overview

My total expenses for the month were 1 126€ including 800€ rent (the full rental amount). It’s already clear to see that we spend less money here than when we lived in Denmark.

See more info about my Savings rate

Blog statistics

Visitors: 7 657 (-12.40% compared to last month)
Page views: 23 688 (-19.48% compared to last month)

3 095 Subscribers (+30 compared to last month)
1 545 Facebook followers (+17 compared to last month)

Quote of the month

“Success is stumbling from failure to failure with no loss of enthusiasm.” – Winston Churchill.

Safe access to work, streams and games

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Start your own blog

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FinanciallyFree.eu is hosted on SiteGround* for the low price of 3.95€ per month.

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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 Denmark, Poland or Sweden having an N26 bank account will save you from currency exchange fees when dealing with euros.

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.

19 Replies to “Portfolio update May 2020”

  1. How do you manage to get by with ~ 300 E expenses excluding rent? That’s crazy little.

    1. 1 126€ is only my share of our expenses. My partner paid for the rental car and most groceries last month. So our total expenses are closer to 2 000 EUR.

  2. Hey, great update!
    You entered into the stockmarket on such a good time, well done!
    Have you seen Warren Buffet’s interview about why Berkshire Hathaway was exiting from the airlines, you’ve done exactly the opposite, why so?

    1. Warren Buffet is investing for the long-term. I bought airline and oil stocks on the assumption that they had been hammered down too much. It’s a swing trade, not something I’m going to hold forever.

  3. Do you truly believe it’s a good idea to invest 5000€+ in Crowdestor and turn it into shares? That 50x over 5 years seems (suspiciously) too good to be true. Any feeling Crowdestor will go down the same route as the scammers?

    1. Crowdestor is a startup. Investing into startups is always very risky, most startups don’t make it. 50x COULD be achieved if everything goes as they plan and become one of the leading SME lending platforms in Europe. The return is not a promise it’s a vision. Will they make it? I don’t know. Is it a good investment? Only time can tell. Could they go bust and lose it all? It’s possible! I’m willing to take the bet and support Crowdestor, which has been my favorite platform for a long time. I’m not advising you to do the same, I’m just telling what I will do. What you do is completely up to you.

  4. Hi Jørgen,

    Could you share how is your life going in Portugal? Was it much affected by the fake pandemic?

    Any future plans? Investments? Damage control?

    And lastly just an idea – would you include some pie-charts of your monthly income and another for expenses? It will be interesting to have some drill-down.

  5. small correction : N26 is not available yet in Romania (I got to a waiting list when tried to sign-up)

  6. There are a lot of problems with withdraw money by FastInvest. Waiting for my money since begin April. Will this be the next scam ??

  7. Hello Wolf
    First of, I like your blog, especially the transparency, I’m just wondering why you do not share the number of shares you hold? It would be nice if we could follow your adventure into stocks as well, as I myself is starting now, that we have good prices due to corona pandemic.

    1. Hello Bo,
      I didn’t plan to include my stock portfolio as a regular part of my updates. This is why I only shared the buy levels. My stock adventure will most likely be short-lived, as I might have to spend the money on a business venture in the near future.

  8. Hi Jorgen, great to see you are still enjoying Portugal. It’s a shame your portfolio is still taking a hit, but trust me most stock portfolios got also hit 🙂

    Keep up the grind my friend.

  9. Hi , just want to say that I follow your journey and thanks for all the info out there. Sorry for the recent loss on two scam platform, P2P is a bit risky, i withdrawed from Fastinvest and slowly withdraw from Mintos. I am hoping to find real estate, if you are in portugal, i’m following this YT channel as well- https://www.youtube.com/watch?v=aa2lL6BGQ3c
    maybe some inspiration there. Greetings from Amsterdam!

  10. Hi Jorgen, did you get any information from FastInvest? What is your take on the slow withdrawals?

    1. Hi L. Yes I did. The reason was that their borrowers had executed their right to delay the repayment 1 month due to covid. I should start to see repayments again from the 26th. I’ll update you on it in the next portfolio update. The slow withdrawals is a result of too many people cashing out using the buyback function. I don’t like it.. I’m against any service that delays payments of cash which is available in our accounts.

  11. I am waiting for 5 withdrawals oldest is from 17-4-2020 a lot of mail contact and promised next week each time but still now money yet. Is this the next scam?

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