Portfolio update October 2020

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.

October 2020… Not the most eventful month of the year. But we’ve had plenty of moving around lately, so it is kinda nice to settle down for a bit. We spent most of the month looking for a place to live. Only one good rental apartment came on the market and the landlord had a list of 15 interested people who wanted to rent it. Unfortunately, someone else got it, so we’re still on the hunt.

We could go out and buy a house instead of renting one. But I’d rather spend the down payment on another rental property. A third property would increase our cash flow substantially, where owning our home wouldn’t improve our financial situation.

Not much has happened in the P2P industry since last update. A few platforms like Swaper*, Robocash* and PeerBerry* are doing exceptionally well, with no delayed payments and no withdrawal issues. 

Mintos announced that they’re looking to raise funding for expanding the business. So if you’re looking to own a small part of Mintos, this is your chance. I’m not looking to participate myself.


Monthly Income Statement: October 2020

Crowdlending Income XIRR Invested Value
Bondora* -415.19€ -0.96% 8 932€ 7 982€
Bulkestate* 0€ 6.98% 10 000€ 10 989€
Crowdestate* 0.18€ 5.31% 5 305€ 6 393€
Crowdestor* 291.95€ 12.89% 82 912€ 96 811€
FastInvest* 0.06€ 3.24% 864€ 1 130€
Grupeer 0.00€ 9.61% 20 474€ 24 047€
Mintos* 200.69€ 17.19% 20 000€ 27 439€
PeerBerry* 84.50€ 15.08% 6 000€ 7 016€
ReInvest24* 6.04€ 5.62% 1 000€ 1 082€
Robocash* 155.48€ 13.12% 10 000€ 13 480€
Swaper* 204.14€ 14.56% 10 000€ 14 824€
Viventor* 15.22€ 14.86% 5 000€ 5 948€
Wisefund 0.00€ 11.84% 17 853€ 20 626€
Scams XIRR Invested Value
Envestio -100% 20 000€ 0€
Kuetzal -100% 24 700€ 0€
Subtotal 542.47€ -1.48% 243 042€ 237 774€
Real Estate Income Invested Value
Property #1 380€ 37.57% 18 080€ 43 471€
Property #2 1 167€ 3.64% 61 200€ 64 223€
1 547€ 79 280€ 107 694€
Total 2 089.47€ 3.21% 322 322€ 345 469€

Note: I marked Grupeer as orange for now because I’m questioning future repayments.

Portfolio performance: Historical view

Income from Crowdlending & Real Estate combined was 2 089.47€
(-61.08€ less than last month).

That means I’m 69.65% Financially Free (-2.04 percentage points down from last month).

Stocks / trading

I made a few changes to my stock portfolio since last update:

Sold:

  • General Electric @ 7.70$ (Bought @ 5.51$) = 39.75% gain
  • U.S. Steel Corp. @ 9.70$ (Bought @  7.84$) = 23.72% gain

Bought:

  • Macy’s (M) @ 6.13$
  • AT&T (T) @ 26.78$
  • Added to Aurora Cannabis (ACB) @ 3.80$

This is my current equity portfolio:

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

Bondora

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

146.28€ was recovered in October but I still have 24 355€ 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 have received two partial early repayments on project “Blaumaņa Street 9” on Bulkestate*. To me, receiving principal when the borrower is able to repay earlier, is always a good thing.

The investment is scheduled to repay the total amount on 21.12.2020.

All new investors will receive a 5 EUR cash-back bonus upon their first investment if you use this link*.

See more info and screenshot from my Bulkestate account

Crowdestate

I’m still withdrawing from Crowdestate*. While there’s no doubt in my mind that the platform is legit, I have not been convinced about their ability to pick the right borrowers. In my opinion, too many projects have experienced payback issues.

0.18€ received in October is not enough to make a blue bar visible on the graph:

See more info and screenshot from my Crowdestate account

Crowdestor

I had ~6k available on Crowdestor* which was repayments from successfully exited projects. For a few weeks, I have been debating with myself whether to withdraw or to reinvest the money.

I decided to reinvest in projects with a decent discount on the secondary market, which I believe will be able to pay back.

See more info and screenshot from my Crowdestor account

FastInvest

My latest successful withdrawal from FastInvest* was requested in late April and processed on 12.05.2020. I still have 2 pending withdrawals from May and June.

Every week, they send me the same email – that I shouldn’t worry, all withdrawals will be processed. Well, we will see, I guess.

See more info and screenshot from my FastInvest account

Grupeer

Grupeer continues to communicate to investors through their blog. Latest blog post here.

See more info and screenshot from my Grupeer account

Mintos

While my monthly Mintos* earnings looks quite stable, the amount of funds in recovery now adds up to more than I’ve earned. Hopefully they’ll recover some of the funds. If not, then I haven’t earned anything in the 3 years I’ve invested through Mintos.

Mintos does a good job giving updates on their blog.

See more info and screenshot from my Mintos account

PeerBerry

I use PeerBerry* as my children’s savings account. Everything is running smooth here..

See more info and screenshot from my PeerBerry account

Reinvest24

I only have a small position at ReInvest24* but I’m starting to like it more and more. The income has been small but reliable.

All my projects on ReInvest24 now pays monthly dividend. Yay!!

A lot of projects have been successfully funded lately. A total of 498 125 EUR were invested into their properties in October. It looks like ReInvest24 is finally picking up momentum!

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

Another solid month on Robocash*.

Robocash published their audited financial statements for FY2017-2019. You can find the audited report here. The management report is available here.

With such strong financial reports, it’s no wonder that more and more people start investing with Robocash*. I’m very happy with them.

See more info and screenshot from my Robocash account

Swaper

Swaper* is one of my favorite P2P lenders.

To me, Swaper has been a stable a predictable platform without any issues (other than the occasional lack of loans available for investment, but that’s currently not an issue).

See more info and screenshot from my Swaper account

Viventor

After Viventor‘s* late fee calculation bug last month, we’re back in positive territory. Not much though..

I’m waiting for funds in transit from Twinero and Monify.

See more info and screenshot from my Viventor account

Wisefund

No news from Wisefund since last month. All the projects I have invested in have defaulted and are awaiting recovery.

The lastest project has attracted less than 1% funding. The future does not look bright for Wisefund. Investors have lost trust in the company and rightly so.

See more info and screenshot from my Wisefund account

Real Estate

I received rent from 4 tenants in October. One apartment is currently vacant while it’s being renovated. The renovation is almost finished and I expect to have it rented out again soon.

I’d love to buy a third rental property. I’m looking at a few that seems attractive.

Perhaps a property like this with 7 apartments would be nice.

See more info about my First property and Second property

Savings rate / expenses overview

Like most other Danes, I received a small amount of income from “Vacation pay” in October.

My total expenses for the month were 1 098€, which includes seasonal tickets to Djurs Sommerland 2021 (entertainment park) and an Amazon Kindle Paperwhite e-book reader. Those two things combined were almost half of my monthly expenses.

See more info about my Savings rate

Blog statistics

Visitors: 5 514 (+0.18% compared to last month)
Page views: 14 680 (+0.24% compared to last month)

3 180 Subscribers (+6 compared to last month)
1 614 Facebook followers (+11 compared to last month)

Quote of the month

Start your own blog

Have you been thinking about starting your own WordPress blog?

FinanciallyFree.eu is hosted on SiteGround* – probably the best WordPress host in Europe!

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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 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 October 2020”

  1. I’ve made the choice to withdraw from Crowdestor completely. There’s a good chance you’ve bought some of my secondary market loans.

    I think the way that they are handling late loans is lacking any sense of urgency. They’ve not updated Blue Shock Racing or the Fertilizer project in ages. They haven’t tapped into the buyback fund once and it hasn’t updated in months too.

    I’m glad I got my money out, because I have a bad feeling.

    1. The Fertilizer project was most likely a fraudulent borrower. Crowdestor already paid back the part which wasn’t paid out to the borrower. What else can they do in a couple of months? Solving crime takes time. Refinancing of other delayed projects already takes place. There’s always room for improvement but given the current circumstances, I’m satisfied with the action on most projects.

  2. They could have done their due diligence and spare this debacle or acted much sooner than they did when problems arisen (in June vs September). I’m out of crowdestor.

  3. Hey Jorgen, did you buy the cannabis company stock because when Biden wins the stocks in that industry should go up or what was the decision there?

    1. Yes, there’s several indicators pointing to legalisation of cannabis in the US. Especially in case of Democrats winning the election.

  4. Hi Jorgen, could you comment on the Mintos “shares” going out to early investors? I’d be interested to see what you think. Personally, I don’t think they’re shares but bonds.

  5. Hi Jørgen,

    I’m curious how you view the outlook for Wisefund? At this point I’m ready to write off my investment with them completely. I still have two projects paying interest, but I doubt the loans will get repaid. We’ll see.

    That property looks nice! Are you planning on making a move on that particular property? Wouldn’t it make sense to look at properties where you yourself could potentially rent one of the apartments?

    What’s the reason for not disclosing the amount of shares you own?

  6. I find the annual ROI on your real estate quite remarkable:

    First property: 47% based on 18.080 euros down payment and monthly net profit of 704 euros.

    Second property: 23% based on 61.200 euros down payment and monthly net profit of 1167 euros.

    This ROI is ridiculously high, especially for a safe investment like real estate. How is this possible?

    In my country (Holland) the ROI on real estate is ~4-6%. If the ROI in your country is so high, why don’t more people do it, driving up the price of real estate until it is roughly in line with the ROI of other investments? That would only be rational. And why do people even bother to rent, if it is so much cheaper to buy.

    1. You realize that you calculated 47% based on the down payment and are basing the 4 to 6% in NL on the total price right?
      If you put 20% as a downpayment in NL, the ROI would be 20 to 30%.

      I rent out multiple apartments in the Netherlands with a much higher ROI than 4 to 6%.

      Btw: now is not the time to buy investment property in the Netherlands since prices are emotionally driven, not rationally. I expect a price crash in the middle of next year due to COVID-support drying up and people’s savings drying up too.

  7. Your risk/return in peer lending is absolutely crazy.

    Why are you still messing about with peer lending? You have had great success with property.

    You’re cash investment in property totals €108k and is producing €1547 a month.

    You have €238k in ultra high risk peer lending producing €542 a month.

    You’re getting 1/6 of the return while taking much greater risks.

    You have roughly 258k in mortgages outstanding, you could clear 237k of this if you closed your peer lending positions.

    Your monthly repayments would drop from €1050 a month to about €100 a month. You’d lose the €542 a month income from peer lending but gain €950 with the lower mortgage.

    Your immediately better off by €400 a month AND you’ve elimated insane levels of risk. Paying off the mortgage is a risk free rate of return that will exceed the return your are getting in sub prime junk debt.

    If you really want to grow the monthly income without playing Russian roulette then sell the peer lending position and use the cash (237k) as a down payment for 500k worth of property. .

    You’d be slightly over 50:50 debt/equity BUT could seriously increase your monthly cash income.

    You’re in a fantastic position if you play your cards right. My advice would be to drop the get rich quick mentality and stick to what has made you money. Hope it all works out for you.

    Conor

    1. Easier said than done Conor, you can’t just clear off your P2P investments. Some platforms do have a secondary market but in times like these, you would have to sell at a loss (5%?, 10%?) to convince somebody to take your loans. Add to this the commission charge by the platform 2-3%.

      Some platform don’t have a secondary market and your only option is to let the loans run-out.

    2. No use the 237K for down payment in more property is better then paying off loan.

  8. Have you seen Danish/Norwegian crowdlending platform Kameo? Any specific reason you don’t use them?

  9. Hi Jørgen!
    It is super interesting to read your portfolio updates & track you investments

    I have noticed that you picked quite promising stocks for your next investment 🙂 Maybe you could share how are you researching for new stock options? 🙂 What is your process and the criteria for the stock, what sources you use? 🙂

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