Author Topic: PeerStreet Ongoing  (Read 785 times)

threepacballer

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PeerStreet Ongoing
« on: April 02, 2019, 11:45:37 AM »
Have not seen any updates on PeerStreet in awhile. I am continuing to get 7% return every month for some time but I have seen more properties showing late and a few in default. I don't see it on the recommended list anymore? I wonder if Mustache is still using?

MustacheAndaHalf

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Re: PeerStreet Ongoing
« Reply #1 on: April 02, 2019, 10:04:20 PM »
I doubt your money doubles every year (7%/month = 1.07 ^^ 12 = 2.25, or a +125% return).  Reviews mention 8%/year, so maybe you meant a 7%/year return?

Car Jack

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Re: PeerStreet Ongoing
« Reply #2 on: April 03, 2019, 06:50:44 AM »
I followed Pete right into the Lending Club debacle.  Lucky for me, I'm not a big risk investor so while his investments went from initial 10%ish kinds of annual returns with D,E,F loans, and I matched his returns with A,B loans, when things went down the toilet, his returns went negative while mine stayed 9%ish.  I sold off everything as it was too sketchy for me.

I see Peer Street the same way.  Big risk for not enough reward.

MarciaB

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Re: PeerStreet Ongoing
« Reply #3 on: April 18, 2019, 09:51:49 AM »
One of my few remaining loans with PS just paid off (all of the back interest and full return of principal) after a long stretch of bankruptcy and default and whatnot. I've got another one that I'm skeptical about - I might not see much in return (which would then wipe out a couple years gains from the other performing loans).

I initially invested about $10,000 a few years ago and reinvested when a loan came due. But over the past 18 months or so have just withdrawn any principal that was returned and now have only a few loans left with them (in mixed states of performing and non-performing).

I totally get that the higher returns come with higher risk...but it's hard to watch in real time! I have to remind myself that even though the 7% loans (on the lower end of the interest scale) are "low" for PS, that's still quite a decent return (compared to the 2.75% I am getting on CDs for instance).

I'm glad I tried this, but also glad to be retreating to a safer harbor. It was good to test my risk tolerance.