Admission: I think I am slightly addicted to P2P lending. It is so much fun watching my money grow daily. I try not to look but, well… it is such a good feeling. Passive income! Not the millions some fancy entrepreneurs make but all the same it is so motivating; I am so glad I made the leap.
Growing in Grupeer
July was going to be a good month, I was feeling optimistic and continued my research of new platforms. The aim, of course, is to balance the levels of risk vs. return, ensuring I diversify and grow my investments.
I added more funds to Grupeer and they continued to impress me. Their site is very user friendly, they offer a buy back guarantee on all their loans. Also their auto-invest activated almost instantly and invested pretty much the whole amount.
I have less than 4 Euros in ‘dead cash’ and it is generating me a profit somewhere between 13 and 16% APR.
If you want to know the ins and outs of the Grupeer platform – ask me for a copy of my guide and I’ll get it over to you straight away.
Envested in Envestio
When I touched base with the team at Envestio, they told me there were new projects coming this week. Due to this insider information I was in the right place at the right time, and I picked up a project at 18% APR.
More than the interest rate though, I am happy that my money is not sitting in dead space awaiting a new project. Having said that, I did get a little over excited and added some additional funds in case another project presented itself – it hasn’t yet.
I did, though, accrue another bonus for still being with their platform, like a loyalty bonus…it all helps.
Perhaps more importantly they have now taken the great step of introducing Auto-Invest. So it seems like life with the Envestio team might just get a little simpler for us newbie investors.
I also took the plunge and added some funds to Crowdestate. I registered and verified myself on this platform some time ago but needed to do some more research. They notified me of a great project coming up and I put my bid into their system. It seems that like-minded individuals also pre-booked this project and as a result it was massively over invested.
I have some funds in the project though at 18% APR and a little dead money awaiting the next opportunity.
So all in all I’m very happy with my July choices. Especially as there is around 1500 of the funds above not yet invested in loans / projects. I look forward to seeing what opportunities August presents.
Check back in to see how I’m doing next month.