Title: Is it really worth .25?
Post by: OptionsTraderFL on January 22, 2014, 11:00:00 PM
Post by: OptionsTraderFL on January 22, 2014, 11:00:00 PM
Looks like loans get originated, then listed for .99 markup. The seller clears .25 cents in the transaction. Is it really worth it?
Title: Is it really worth .25?
Post by: Joleran on January 22, 2014, 11:00:00 PM
Post by: Joleran on January 22, 2014, 11:00:00 PM
For who? It really depends on the note.
Title: Is it really worth .25?
Post by: core on January 22, 2014, 11:00:00 PM
Post by: core on January 22, 2014, 11:00:00 PM
A $25 note listed for $25.25 (+1.00%) yields the seller $0.00 profit after the 1% Folio fee, not $0.25. So no, it's not really worth it. I have to believe all these sellers know they are just breaking even, and are just trying to get rid of those notes. On the other hand I've seen plenty of activity on Folio with no intelligence behind it.
Title: Is it really worth .25?
Post by: New Jersey Guy on January 22, 2014, 11:00:00 PM
Post by: New Jersey Guy on January 22, 2014, 11:00:00 PM
Quote
Title: Is it really worth .25?
Post by: TravelingPennies on January 22, 2014, 11:00:00 PM
Post by: TravelingPennies on January 22, 2014, 11:00:00 PM
I have seen a decent amount priced at 25.99 so I guess they are clearing .75 and it makes it a little more worth it.
Title: Is it really worth .25?
Post by: TravelingPennies on January 22, 2014, 11:00:00 PM
Post by: TravelingPennies on January 22, 2014, 11:00:00 PM
Title: Is it really worth .25?
Post by: Bohb Daishi on January 23, 2014, 11:00:00 PM
Post by: Bohb Daishi on January 23, 2014, 11:00:00 PM
Title: Is it really worth .25?
Post by: TravelingPennies on January 23, 2014, 11:00:00 PM
Post by: TravelingPennies on January 23, 2014, 11:00:00 PM
Quote
Title: Is it really worth .25?
Post by: TravelingPennies on January 23, 2014, 11:00:00 PM
Post by: TravelingPennies on January 23, 2014, 11:00:00 PM
Yes, I've always kept 100% of my notes up for sale, and I know a lot of other people here do so too. Before the payment in progress restriction was added, it really was simply easier to keep track of your notes from the Folio screen where they were all in one place. After the change, it's a lot more trouble to keep on top of but I still do it because I get occasional sales. I mark them up a helluva lot higher than 5% as long as I don't need the cash soon. There's no harm in letting people pick over your notes as long as your markup is high enough. But don't ask me what that magic number is because I don't know. Certainly 4-5% seems safe.
Title: Is it really worth .25?
Post by: RaymondG on January 25, 2014, 11:00:00 PM
Post by: RaymondG on January 25, 2014, 11:00:00 PM
Saw a bunch of issued notes being sold by 0% markup and a lot with below 1% markup a few minutes ago. Not sure about the quality of these loans. Might LendingClub do it to make Foliofn-only clients happy?
Title: Is it really worth .25?
Post by: ggnoob1337 on January 25, 2014, 11:00:00 PM
Post by: ggnoob1337 on January 25, 2014, 11:00:00 PM
Title: Is it really worth .25?
Post by: TravelingPennies on January 26, 2014, 11:00:00 PM
Post by: TravelingPennies on January 26, 2014, 11:00:00 PM
Title: Is it really worth .25?
Post by: Brian on January 26, 2014, 11:00:00 PM
Post by: Brian on January 26, 2014, 11:00:00 PM
Title: Is it really worth .25?
Post by: TravelingPennies on January 27, 2014, 11:00:00 PM
Post by: TravelingPennies on January 27, 2014, 11:00:00 PM
Title: Is it really worth .25?
Post by: TravelingPennies on January 27, 2014, 11:00:00 PM
Post by: TravelingPennies on January 27, 2014, 11:00:00 PM
Title: Is it really worth .25?
Post by: thezfunk on January 27, 2014, 11:00:00 PM
Post by: thezfunk on January 27, 2014, 11:00:00 PM
Title: Is it really worth .25?
Post by: ggnoob1337 on January 27, 2014, 11:00:00 PM
Post by: ggnoob1337 on January 27, 2014, 11:00:00 PM
Title: Is it really worth .25?
Post by: Keltset on February 01, 2014, 11:00:00 PM
Post by: Keltset on February 01, 2014, 11:00:00 PM
I keep 100% of my notes up for sale in the secondary at a markup. It's just logical to let those who want to give you free money to let them give it to you 
Title: Is it really worth .25?
Post by: core on February 01, 2014, 11:00:00 PM
Post by: core on February 01, 2014, 11:00:00 PM
Title: Is it really worth .25?
Post by: Bohb Daishi on February 02, 2014, 11:00:00 PM
Post by: Bohb Daishi on February 02, 2014, 11:00:00 PM
Title: Is it really worth .25?
Post by: TravelingPennies on February 04, 2014, 11:00:00 PM
Post by: TravelingPennies on February 04, 2014, 11:00:00 PM
I would highly advise reloading..... It make it much more affordable.
I honestly do not believe it takes being wired one way or another, it simply takes dedication and a work ethic. Anyone is more than capable of going out there and making what they want and doing well at it. They problem is that you cannot have the general belief that the world owes it to you, rather you must have a -work ethic- and the belief that -you- are the one responsible for yourself and it takes -work- and -effort- to obtain the things you want.
I would rather hire a guy that has no specific job or career related skills but has the drive to learn them over the guy who has those skills but calls in frequently or somehow has three grandmothers die in one quarter and then comes down with a horrible case of the flu on way to many Fridays.
I do believe I need to take up cores idea on of these days. Although, I do enjoy shooting I have been known to become frustrated when coding from time to time and I'm slightly concerned that my laptop may end up in various pieces scattered all over the place when the 45 hits it... hmmm Maybe I should avoid coding and firearms and stick with accounting during such times.... Numbers haven't ever caused issues for me
I honestly do not believe it takes being wired one way or another, it simply takes dedication and a work ethic. Anyone is more than capable of going out there and making what they want and doing well at it. They problem is that you cannot have the general belief that the world owes it to you, rather you must have a -work ethic- and the belief that -you- are the one responsible for yourself and it takes -work- and -effort- to obtain the things you want.
I would rather hire a guy that has no specific job or career related skills but has the drive to learn them over the guy who has those skills but calls in frequently or somehow has three grandmothers die in one quarter and then comes down with a horrible case of the flu on way to many Fridays.
I do believe I need to take up cores idea on of these days. Although, I do enjoy shooting I have been known to become frustrated when coding from time to time and I'm slightly concerned that my laptop may end up in various pieces scattered all over the place when the 45 hits it... hmmm Maybe I should avoid coding and firearms and stick with accounting during such times.... Numbers haven't ever caused issues for me
Title: Is it really worth .25?
Post by: yaoyao on February 04, 2014, 11:00:00 PM
Post by: yaoyao on February 04, 2014, 11:00:00 PM
I had never thought of it until reading through this thread. I have an Interest Radar subscription and have never used the auto sell. I set it up in a few minutes and it now lists all of my notes for sale at a good markup. So after the initial setup, there is no extra work. Already sold one note for an 8% markup.
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Same here. Yesterday, I used IR to put all my notes for sale. It only took a couple of minutes to set up (I use simple rules). I've sold 15 notes so far. I may have to adjust my markup percentage (I'm using 4% for down, 5% for flat and 6% for up). Most notes that I sold are UP ones.
Title: Is it really worth .25?
Post by: dontvote on February 04, 2014, 11:00:00 PM
Post by: dontvote on February 04, 2014, 11:00:00 PM
Title: Is it really worth .25?
Post by: TravelingPennies on February 04, 2014, 11:00:00 PM
Post by: TravelingPennies on February 04, 2014, 11:00:00 PM
Title: Is it really worth .25?
Post by: TravelingPennies on February 04, 2014, 11:00:00 PM
Post by: TravelingPennies on February 04, 2014, 11:00:00 PM
Title: Is it really worth .25?
Post by: TravelingPennies on February 05, 2014, 11:00:00 PM
Post by: TravelingPennies on February 05, 2014, 11:00:00 PM
Title: Is it really worth .25?
Post by: TravelingPennies on February 06, 2014, 11:00:00 PM
Post by: TravelingPennies on February 06, 2014, 11:00:00 PM