I begin with the evolution of my positions since January 2018 depending on the type of investment. The distribution of my investments by category remains more or less constant. The most notable is the increase in the proportion of my stock market investments, mainly due to the strong rise in the stock markets in January.
During January, my investments in participatory platforms can be summarized as follows:
- En noviembre Comencé a invertir en dos nuevas plataformas: NEO Finance y Twino En un par de meses presentaré mi evaluación de ellos.
- Aumenté mis posiciones en Grupeer, Fast Invest y Estateguru. While I have significantly decreased my investments in Bricks & People, because the investment I had was sold.
- Las mejores plataformas en términos de TIR son 1) bienes raíces: Bricks & People (ahora operando a través de la plataforma SociosInversores.com) y CrowdEstate; 2) P2B: Envestio; y 3) P2P: NEO Finance, Finbee y Swaper. To point out that the case of NEO Finance is due to the very generous welcome promotion (40 EUR) together with the fact that it’s been just two months since I started investing.
- Las mejores tasas de retorno en diciembre han sido 1) bienes raíces: Bricks&People y CrowdEstate; 2) P2B: Envestio; y 3) P2P: Finbee, Twino y Grupeer.
- Para Mintos, Presento los rendimientos combinados (todas las monedas, teniendo en cuenta el tipo de cambio) y para cada moneda por separado (sin aplicar el tipo de cambio).
- Para comparar todas las plataformas, consulta mi Comparador.
The profitability of January exceeded the levels of diciembre con 8.07% (frente a 6.75%). los Plataformas de crowdlending P2P y Plataformas de crowdlending P2B han mejorado su rentabilidad en comparación con diciembre a 13.42 y 9.15%, respectivamente, a diferencia de las de Plataformas de crowdfunding inmobiliario que han caído a 4.15%.
En cuanto a retrasos y valores predeterminados, para resaltar:
- Situación preocupante en Housers, with three defaults on fixed rate opportunities (the first I experience since I started using the platform in 2016). The other types of opportunities do not experience any delay.
- Second default of Flender (defaults now reach 4.3% of my projects).
- Retrasos en Estateguru, which usually average around 5% of loans, have been reduced from 12.3% of diciembre to a more than acceptable 3.5%. No new default this month (remains at the three of diciembre).
- Linked Finance remains with one default and 2 delays (compared to the two delays in diciembre).
- Los retrasos y los incumplimientos de Finbee están dentro de lo esperado, siendo una plataforma sin Buyback. El caso de Fellow Finance es un poco más preocupante, dado que los incumplimientos no se compensan hasta ahora con la rentabilidad de los préstamos activos.
- Los "retrasos" de plataformas inmobiliarias como Housers o Inveslar tampoco son sorprendentes: las ventas de propiedades toman tiempo y hasta ahora los retrasos se retrasan solo un par de meses. En el caso de Privalore it is starting to become worrying since they are already several months late and affect 3 of my 7 active investments.
- CrowdEstate no permite verificar fácilmente las demoras. Hay algunos, pero es difícil definir cuántos a menos que uno consulte cada proyecto uno por uno.
- Para comparar todas las plataformas, consulta mi Comparador.
Como todas mis inversiones son a largo plazo y se pagan en su totalidad al final del proyecto (viñeta completa), no vi ninguna rentabilidad hasta diciembrewhen my first two projects were completed. In January, an additional project finalized. This has been reflected in the XIRR that reaches now 5.1% and the annualized profitability for January (1.9%). The returns offered are excellent (always above 13%) together with a historical default rate of 0%, so I will continue investing in all new projects. Unfortunately, the platform is not too active, with only one new project per month, so I haven’t been able to increase my position for several months now.
Buenas noticias sobre CrowdEstate! In January, several projects were liquidated, shooting the monthly and IRR returns to their highest levels since I started using the platform (11.7% and 6.6%, respectively). The net annual yield offered by the platform, which takes into account only the returns of projects already reimbursed (13), it is now 13.6%. Approximately half of my portfolio are projects that are paid in full at the end. Now that my portfolio has reached some maturity, I trust that these values will be maintained. Some payments are delayed, but they end up arriving (plus the corresponding compensation for the delay).
Una nueva característica de CrowdEstate (desde noviembre) es la posibilidad de invertir (o no) en proyectos financiados en varias etapas ("Inversión de rondas múltiples"). Decidí no invertir en segundas rondas, ya que creo que va en contra del principio de diversificación. Básicamente significaría invertir varias veces en el mismo proyecto. Mi estrategia es continuar invirtiendo en cada nuevo proyecto.
January revenues have taken a leap over diciembre, up to 8.5%. The net annual return offered by the platform, taking into account only the returns of my already reimbursed projects (31), amounts to an impressive 18.0%. The delays of Estateguru, which usually average around 5% of loans, have been reduced from 12.3% of diciembre to a more than acceptable 3.5%.
No new default this month (remains in the three of diciembre) Si se materializan, tendrá un efecto muy negativo en el rendimiento. Los valores predeterminados no significan que se pierda la inversión, pero están en proceso de recuperar la garantía. Estoy informado por Estateguruthat, so far, investors have not lost any of its investments in the platform. Besides, I hope that these defaults are partly compensated over the coming months when several projects that are paid in full at the end begin maturing.
Mi estrategia is still to invest in each new project, except those funded in several stages (in which only I invest in one of the stages). I’ve actually increased my position by 1.9% during January.
Durante 2018, EstateGuru financió 356 préstamos inmobiliarios por valor de € 52.5 millones, un aumento de más de 225% en comparación con 2017. Casi € 19 millones fueron devueltos en préstamos emitidos, más de € 3 millones fueron pagados en intereses y bonos, y generaron más de € 73,000 en bonos de referencia. El rendimiento de los préstamos reembolsados fue de 12.02% en 2018. La base de inversores creció hasta llegar a 17.600 inversores registrados de 109 países, al tiempo que atrajo al primer inversor institucional a la plataforma.
Somewhat worrying situation in Housers this month, with three unpaid fixed-rate opportunities (the first I’ve experienced since I started using the platform in 2016). On the other hand, surprisingly, none of the saving or investment projects, theoretically less predictable in terms of payments, experience any delay. In fact, in general, they get finalized several months before the projected date. I am seriously considering stopping investing in fixed-rate projects depending on how these defaults resolve.
Profitability, somewhat irregular, has fallen again this month to 3.9%. It seems now definite that I have reached the point where the benefits will allow me to invest in each new project without the need for additional deposits. Although I do not rule out transferring more funds if the number of projects increases, my intention is not to increase my position in the short or medium term.
Desde hace varios meses, invierto la mitad para los proyectos en Madrid, que estaban claramente sobrerrepresentados en mi cartera, alcanzando más de 50%, junto con las noticias recurrentes del mercado inmobiliario sobrecalentado en Madrid (y otras ciudades importantes en España como Barcelona o Mallorca).
Las tasas de retorno de Inveslar, which remained constant at around 1.5% for over a year, have almost doubled this month (2.8%), thanks mostly to the sale of my first project (Eugenia IN) in a record time: before ending the financing stage! The low profitability at the moment is due to the fact that most projects are quite long term (7 of my 14 projects are 36 or 60 months long), and all the interest received is for rentals. I trust that the rest of the projects (12-14 months) will start selling in the coming months (there is a pair that are already due).
The latest projects have been three fixed rate mortgage loans and a project by an external promoter, rather than saving or investment projects by Inveslar as usual.
Privalore, since it commercializes only investment opportunities (rehabilitation), this leads to returns that are not constant. Since March 2018, the platform offers only opportunities in Madrid, whereas previously it focused exclusively on Barcelona. The biggest downside is that three of my seven active investments are quite late (two of them 7 and 9 months), so I have decided not to invest in new opportunities until they catch up. In any case, the platform has only offered a new project since the beginning of October (still in financing stage, in sharp contrast to the financing in a few hours some months ago).
I’ve only been four months investing with Envestio, but it has already become the platform with the best return rate (19.0%!). Until a few months ago, all the projects offered returns of more than 20%. This has changed over the last month, and now they are around 15-16%. It is not bad either, but we miss those earlier returns … To keep in mind that almost all new opportunities are in fact new tiers of the same project (up to thirteen tiers), so by investing in them, we do not increase our diversification. With the returns offered and Buyback (!), I intend to increase my position in the coming months (if the offer peaks up).
The biggest drawback is the second default in a project by Flender. It is not yet posted as a loss. We will still have to wait (probably) several months before knowing how it resolves. Flender has initiated legal activities to recover it (which they estimate at a 35% chances). Flender confirms that it could be a long recovery process, since the company’s Director is not cooperating with the authorities. I understand that it falls within the norm, although we are already talking about an default rate of 4.3%, the highest of all the platforms, not counting P2P platforms without Buyback. If it exceeds 5%, I would consider stopping investing in new projects for a while.
The current IRR is 16.8% thanks to the incredible promotion of last summer through which users got back 10% of the invested amount in cash. My IRR should progressively lower over the coming months until around 10%. Monthly returns of Flender have been increasing progressively to stabilize between 8 and 9%. I intend to continue to invest in all new projects.
A lo largo de 2018, Flender tuvo más de 5,5 millones de euros invertidos distribuidos en 6.400 inversiones.
La plataforma irlandesa es con diferencia la más activa de todas las Plataformas P2B I use. Yields have been increasing progressively to stabilize around 8% in recent months. It is becoming one of my favorite platforms. Only a default (out of 334 opportunities) and 2 delayed projects (there were 3 in diciembre). I intend to continue to invest in all new projects, although I seems to have reached the point where the benefits will allow me to invest on each new project without further deposits.
Linked Financereported in diciembre that they were weighing the idea of introducing rental mortgage loans with purchase option in the coming months, reported in January that they have abandoned the idea.
Lendix changed its name and looks in October 2018, to be renamed October. The rest stays the same. The biggest (only) problem to date are the two projects from August and November in the process of judicial recovery: Technofirst (curiously my first project) and A & A Marketing Service. Although this is normal, these incidents have made my IRR practically nil after almost a year of investing in the platform (0.8% to be precise). However, to clarify that, unlike other platforms, October makes provisions for 100% of the amount (since the judicial recovery processes take a long time and the result is uncertain). Provisions are potential losses and over time some or all of the amount due may be recovered. The rest of the platforms do not consider such losses until the judicial recovery process ends. Hopefully there will be no more setbacks and my TIR will recover. At the moment, profitability in January was 5.2%.
My intention is to continue investing in all new projects and trust that profits will return. However, I didn’t manage to increase my position in January. Since there is no AutoInvest, you have to be really alert and this month I missed almost every new project.
Dofinance It represents the maximum simplicity in its functioning. Works a little (relatively speaking) as if you hired a fixed-term deposit (the higher the profitability, the longer the term). The big drawback is that five months ago the maximum return rate offered by Dofinance dropped from 12 to 9%, which resulted in a gradual downward adjustment. In January, I got surprised with a poor 8.3%, the lowest monthly performance to date.
9% is low for a Plataforma P2P, pero usando mi promocional LINK, obtendrá 10% (en lugar de 9%) durante los primeros 90 días (estado VIP 10%). El funcionamiento de la plataforma es realmente efectivo y simple y me ayuda a diversificar mi cartera. Hasta ahora, mi idea es mantener mi posición actual, esperando que en un futuro no muy lejano regrese el pasado.
In January, DoFinance introduced a new originator: Credo data Indonesia, which has been operating for almost three years. The company issues loans for a maximum period of 30 days in Indonesian Rupiahs (IDR), between 300,000 to 8,000,000 IDR each.
DoFinance en números: a finales de 2018, había 3.514 clientes registrados, 40% de inversores alemanes, seguidos de España (22%), Italia (11%) y los Países Bajos (10%). El monto promedio de inversión fue de 2,695 euros para un plazo de inversión promedio de 6,8 meses, con la inversión automática 9% como el programa de inversión más popular.
Only five months since I opened my account, but Fast Invest has already become one of my favorite platforms. Easy use and a continuous flow of loans at 15% (3-6 a day) convinced me to continue increasing my positions gradually (2.1% in January), so it is taking some time for returns to reach its potential (which should be around 14.5% in February). If the loan offer remains at the current level, I will continue to increase my positions over the coming months.
Throughout 2018, the average interest rate grew from 12.78% to 14.3% (11.88% growth). Accumulated turnover increased from € 5.2 million to € 40.8 million until 12/1/18) (a growth of 685%). The volume of investment grew from € 1.4 million in 2017 to € 8.1 (up to 1/12/18) (478.57% growth). Now Fast Invest has more than 28,000 customers.
Resultados muy decepcionantes por el momento. Las tasas de interés son realmente atractivas (¡hasta 55%!), Pero sinBuyback, así que he sido un poco más cauteloso invirtiendo que con otras plataformas. A partir de hoy, los muchos valores predeterminados no compensan los rendimientos más altos ofrecidos, dejándome al final con rendimientos negativos, al menos por ahora. En cuanto a mi estrategiaya que no ofrecen Buyback, He invertido solo en préstamos con tasas de interés superiores a 48% y siempre la cantidad mínima, que en el caso de Fellow Finance es bastante alto (25 EUR). Debo decir que hay otros préstamos menos riesgosos, que seguramente habrían resultado en un mejor desempeño que mi estrategia de inversión fallida (hasta ahora). Es una plataforma compleja y el servicio al cliente no es particularmente bueno, por lo que tengo muchas dudas sobre cómo funciona. Seguramente estudiarlo más a fondo puede resultar en mejores resultados. Seguiré jugando sin aumentar mi posición con la esperanza de poder ofrecer una crítica más positiva en los próximos meses.
Although yields are excellent time (TIR 17%), being Finbee a platform without Buyback, I am still studying how the platform evolves in the medium-long term once the (numerous) defaults stabilize. Delayed and unpaid loans represent 10.8% and 9.4% of my portfolio, respectively. My Autoinvest selecciona solo préstamos por encima de 18%. Para mí no tiene sentido invertir en préstamos sin Buyback debajo de esa cifra, considerando que hay otras plataformas que ofrecen hasta 14-15% con Buyback (Mintos, Fast Invest o Grupeer) Por el momento mi estrategia es mantener mi posición (reinvertir ganancias). En un par de meses, una vez que vea a qué niveles se estabilizan los rendimientos, decidiré si aumentar mi posición o comenzar a retirar fondos.
FinBee ha anunciado que han estado trabajando desde principios de 2018 en DESICO, una plataforma de financiación colectiva para que las empresas de todo el mundo comercialicen sus títulos convertidos en tokens.
Durante 2018 Finbee It lent more than 8 million residents and Lithuanian companies, earning 1.4 million euros for investors. In addition, Finbee successfully passed the annual inspection of the Bank of Lithuania and established himself as the only P2P finance company that lends to small and medium enterprises.
One of my favorite platforms, with really consistent results. During noviembre , there was a small problem of Cash Drag that has been solved since mid-December. Also the average interest of the loans acquired, which had been falling considerably to 12.9%, has recovered during December and January. Given this recovery, I decided to increase my position by 5.7%.
In January, Grupeer has offered 1% CashBack (“Meet & Love”) between January 31 and February 5 to promote two new originators:
- Kviku (probablemente familiar para los usuarios de Mintos), es una plataforma de crédito en línea fundada en 2013 y con presencia en Rusia, Kazajstán y España que espera expandirse durante 2019 a Polonia, Vietnam y Filipinas.
- Fintech NordCard, con sede en Letonia, ofrece préstamos a corto plazo de hasta 3.000 EUR.
Also in January, Grupeer announced that it will soon launch the Grupeer Stability Fund, which will literally allow the purchase of one square meter of real estate. In this way, an investor will own a fraction in an office building or any other development project that’s already generating income. After investing in this product, the client will receive a stable rental income of 4% to 8% per annum. It is aimed at investors with a very long investment horizon who wish to receive stable income over a prolonged period.
A la hora de presentar mis resultados, Mintos is more complicated, since I’m investing in five different currencies. The graph shows in red the combined results of the platform (converting each currency to EUR according to the exchange rate of each month). This means that the monthly return rate is very susceptible to variations in the exchange rates: from a poor 2.5% in diciembre to 16.2% this month.
The best IRR (at the moment) is for my investments in EUR (17.9%, thanks still to the excellent promotions from February to May of Mogo, Getbucks and Lendo) and in Kazakh Tenge (KAZ – 16.7%).
The maximum return rates offered by loans in EUR each day, after a couple of relatively poor months (11.5-13% maximum during noviembre), have increased to a 14% offered by at least 5-6 creadores (Varks, Money, ExpressCredit, Metrokredit, Sebo, Bino …). Since October, I started investing manually, both in the mercados primarios y secundarios.
Interest rates offered in Laris (GEL) and Tenges (KAZ) loans remained stable at 16% and 17-18%, respectively. They are usually always available in both the mercados primarios y secundarios.
Loans in sterling pounds (GBP), which had been really scarce during most of October and November, have returned to the Marketplace, although at an interest of 10% maximum.
En diciembre, I started to invest in Russian rubles (RUB) attracted by the large number of loans offered at a very high profitability (4-5 suppliers offer loans between 17 and 18.5%). At the moment, it is taking some time to take off because two thirds of the loans are delayed. Something similar to what happened to me with loans in KAZ in August-October 2018. Luckily, all providers in RUB pay the accrued interest for delays at day 60, so the returns should take a big jump in February.
The returns of the loans in Tenges (KAZ) of Kazakhstan, after the drop of August-October 2018 (like what’s happening now with the loans in RUB), are since noviembre within the expected ranges (16-23%). Besides, I stopped investing in ID Finance loans that accumulated the most delays.
- eFaktor is a provider of bill financing in Polish zloty (PLN). The average number of invoices issued in Poland is 25,000 PLN (6,500 EUR), the average repayment period is 49 days and an annual yield of up to 9%.
- GetBucks, on top of Kenya, Botswana, Zambia and Poland, now also offers consumer loans in South Africa in EUR, ranging from 30 to 1,300 euros, with an annual interest rate of up to 12%.
- Cash On Go Ltd. is a new originator of UK loans offering a product (Peachy), with loans ranging from 100 GBP (112 EUR) to 1,000 GBP (1,122 EUR) with maturities of up to 12 months and net return rate of up to 12%.
In January, Monego began operating in Mintos with its short-term loans in Kosovo ranging from 20 to 300 EUR with a maturity of up to 30 days. The installment loans, which Monego will offer later in the market, will have a maturity of up to 12 months and the amounts of the loan will be up to 1,000 EUR.
Mintos ha anunciado que en el futuro ofrecerán cuentas personales (con IBAN) y tarjetas de débito. La cuenta personal se puede utilizar para realizar y recibir pagos en todo el mundo, o recibir el salario directamente en la cuenta por Mintos.
During 2018, Mintos has exceeded 1,500 million EUR in investments to become the largest investment market for loans in Europe (according to P2P-Banking), they have hired 28 new workers to almost double their workforce, they have registered 55,000 new investors to reach (almost) 100,000 investors, have raised 5 million EUR in a round of financing, have incorporated 31 new originators from 13 new countries, and investors have received 20.9 million in interest.
Sin ofrecer rendimientos espectaculares, Peerberry lo compensa con una sorprendente regularidad (tasas de retorno siempre entre 11 y 12%), se necesita un seguimiento mínimo y cero Cash Drag. Tengo la intención de mantener mi posición mientras todo se mantenga así.
In January, Peerberry has announced a new loan originator of the Aventus Group: the Ukrainian car loan company Auto Money. The car loans will range between 2,000 and 15,000 EUR, with terms from 12 to 72 months, from 12.2% to 13%.
El 31 de octubre Peerberry celebrated its first anniversary. Peerberry in figures: In December 2018, Peerberry achieved a loan volume of 7.4 million EUR and 3,771 investors from 59 countries that can invest in Polish, Czech, Danish, Lithuanian, Ukrainian and Russian loans. Most loans are less than 40 days long.
El problema de Cash Drag experimentado el verano pasado, que superó en ocasiones el 50%, ahora se supera definitivamente con la incorporación de nuevos creadores. However, since November 19, all loans are offered at 12% interest rate, compared to 14% previously. Another important note is that interests on longer-term loans (180-365 days) are paid at the end, so the return rate does not reflect the profitability of the platform, and should increase considerably during the coming months, when the first loans for more than 180 days start maturing. They represent a third of the interest generated, although not yet collected. For now, mi estrategia es mantener mi posición actual
En los últimos meses, dos nuevos creadores se unió a la plataforma: LLP Z-Finance de Kazajstán y MFC Zaymer de Rusia. A partir de hoy, Robocash ha alcanzado 4.500 usuarios registrados, el volumen de inversiones ha superado los 4 millones y ha generado beneficios de casi medio millón de euros.
Swaper, after three months with return rates over 16% (thanks to the 2% extra for investments above 5000 EUR), has taken a big drop in diciembre and January. The reason is the permanent issue with Cash Drag which was around 15-20% all month). The returns are still acceptable, so for the moment, mi estrategia es mantener mi posición actual
Hasta ahora era una plataforma con rendimientos moderados y una excelente regularidad, sin Cash Drag and that required minimal follow-up. In recent months, there’s been in addition a gradual improvement in profitability, which reached 13.6% in January. If these return rates are maintained next month, I will surely increase my position.
A diferencia de otras plataformas, Viainvest retenciones de impuestos. Presento resultados libres de impuestos para facilitar la comparación. A partir del 1 de diciembre de 2018, Viainvest ha anunciado que dicha retención de impuestos ya no se aplica automáticamente a los ingresos de préstamos originados en Polonia por VIA SMS PL Sp. Para las inversiones en préstamos originados en España o la República Checa, la retención continuará aplicando.
As of January, Viainvest has a new loan originator from Sweden: credit line loans issued by the Swedish VIACONTO.se will be available on the platform with an annual interest rate of 9% and BuyBack. Taxes will not be applied to the income obtained by investing in Swedish loans on the platform. VIACONTO.se operates in the Swedish market since 2011 with a trust score of 9.3 in Trustpilot.
The situation is similar to that of Viainvest. In recent months, profitability has not stopped growing: 14.1% in January! The “problem” of lack of loans above 9% in October-November of last year has already been left behind. Next month I will increase my position.
En Enero, Viventor has added a new loan originator from Macedonia – Forza. Founded in 2016, the company has issued and serviced around 35,000 short-term consumer loans ranging from € 50 to € 500 with a term of 7 to 30 days.
Forza joins the originator of diciembre: Mozipo, an old acquaintance for Mintos users. Founded in 2007, Mozipo was one of the first online lenders in Lithuania, offering consumer loans of 50 to 7,000 EUR with a term of 2 to 60 months.