January 2020

Monthly review January 2020

Me as i found out the truth about Envestio

The shit hits the fan…this was really a bad month, FIRE wise! As most of you allready know 2 crowdlending platforms turned out to be scams, and maybe more to come in the future!!

I was hit hard and lost 8100 euro😱

I am rethinking my approach to investments, going for a simpler and less risky plan. I also have some concerns that i need to address and act upon.

Here is 3 platforms that i consider as scam:

  1. Kuetzal. I had transferred 3000 euros to Kuetzal, but not invested any of them, due to the projects offered, they simply didn’t appeal to me, luckily.. Bad news started to appear in the crowdlending community, and when the CEO did not show up to a scheduled meeting with Jorgen Wolf, i decided to withdraw my money. I had to invest 100 euro before withdrawal, due to some money laundry regulations, so i could only withdraw 2900 euro. I was one of the last to get money from Kuetzal…  Here a some links to read if you are interested, but long story short; Kuetzal was a scam! https://financiallyfree.eu/concerns-about-kuetzal-is-kuetzal-a-scam/ https://www.crowdlendingrocks.eu/why-i-do-not-invest-with-kuetzal-scam-incompetence-or-just-too-many-red-flags-here-are-my-concerns/ https://savings4freedom.com/my-p2p-lending-investment-portfolio/kuetzal-analysis-review-2020/
  2. Envestio. Envestio was actually one of my favourite platforms, high yield, payments always on time etc. So i increased my investment on Envestio to 10.000 euros😱. Shortly after my money transfer, Envestio got a new owner and a new COO. The first looks like a homeless guy and the COOs appearance on Youtube was horribible, to say the least. This was not a guy i would trust my money, so i started with withdrawing my free assets, 2000 euros.
I just dont think he looks like the right person to own a company in which i have 8000 euros.

https://youtu.be/YoMa2YBSPrk
Amd i dont think this guy seems the right for…well anything.

All this in one month! So here is my thoughts, concerns and future plans:

At the same time i wrote a short article here on my blog:   But i didnt react, not even to my own words, how stupid is that!! Turned out that Envestio was a huge scam as well, stealing millions of euros from investors, including my 8000 euros. More to read; https://explorep2p.com/envestio/ https://www.p2p-banking.com/countries/baltic-millions-at-stake-in-envestio-case-investors-calling-for-answers/ http://www.buyyourfreedom.dk/2019/12/20/new-coo-in-envestio-troubles-ahead/

3. Better globe. I came across Better Globe shortly after starting my journey towards FIRE, and from the start it struck me as a scam. I found the founder not trustworthy, and a quick Google search confimed that. I find the multilevel marketing strategy awfull, and i am disgusted by the fact that they appears to be “saving the world” , making people invest their money. A danish media wrote these 4 articles about better globe:    https://www.zetland.dk/historie/sOz9z6BJ-aekdaa3R-986ad https://www.zetland.dk/historie/sOMVQ91X-aekdaa3R-5818b https://www.zetland.dk/historie/s8l4zrWg-aekdaa3R-c8732 https://www.zetland.dk/historie/s8qDz9YR-aekdaa3R-1f88b
Bets case is that Better Globe is a fantasy project, making naive people invest and take part in their multilevel marketing, worst case is that Better globe is a 100% scam. I find the last scenario the most likely. I have not invested in Better Globe.

Crowdlending has definitely some cons; it is rather time consuming if you want to keep an eye on your investments, and even more if you want to diversify into several platforms, and this is a rather big con for me, since i am going sailing and therefor not will be able to check upon investments all the time. It is risky business, and apparently much more than i thought, i was not prepared for actual scam. So i am definitely decreasing my investments in crowdlending, at least for the time being. Read more about my plans for each platform below.

My stocks are doing really well, so well that their increased value covers my loss on Envestio and Kuetzal. I have increased my investments in stocks, and will continue to do so.

I consider taking a loan in the new house after refitting it, increasing its value. I can get a loan at 100.000€ for just about 2% a year, all included. For now a have enough cash to invest, so if i take a loan, it will be be in a couple of months. Investing for borrowed money? Is that a clever idea? I am not sure..

Lets go through the platforms

Mintos

Still my favorite platform, and the one i trust the most. I had 20.000 euros here, but have now sold some of my loans and stopped my autoinvest. I will withdraw money for a period of time. Everything runs smooth, i am able to sell loans and withdrawel takes only 1-2 days. I am not using the I&A anymore, i like to be able to choose for myself.

Grupeer

I really like Grupeer, but i would like them even more, if they got a secondary market. I have stopped my autoinvest, but it takes a long time to get enough free assets worth withdrawing. This is due to long term loans and no defaulted loans activating the buyback. I have 12.000 euros on Grupeer, and without the secondary market i think this is to much.

Fast Invest

After my bad experience with Envestio and Kuetzal i decided to get all my funds out from Fast Invest. To many red flags for me, all though i never had any problems with them. I sold all my loans, losing my profit on these loans, and made a withdrawel. It took almost a week before the money was home and safe, this is not good enough when ex Mintos only uses 1-2 days. But i got it all back with an overall profit of 59€.

Envestio

Well, not much to write, i lost it all. I wish a had reacted when i heard about the new COO and new owner, or at least when i wrote my own blog post!!

My hope is that the responsible for the scam will soon be behind bars for a very long time, i might even consider going there for a visit, telling the jack asses how sweet freedom is😜.

Crowdestor

I wish i hadn’t so much money on Crowdestor. Not because of any bad roomers or experience, they just remind me to much of Envestio, and i don’t like having such big amounts on each project without, or almost without any security. I have to say i was drawn by the high interests, or in another word; greed. On crowdestor there is no way to sell your part, so i will just cross my fingers and hope for the best. For now, i am not investing further on Crowdestor.

Peerberry

I have stopped my autoinvest and will withdraw some of my money soon.

Viventor

I have stopped autoinvest and sold some of my loans, planning to withdraw it all, only because i prefer other platforms over Viventor.

Kuetzal

Well, same as for Envestio; may their asses itch and their arms be to short!

Crowdestate

I had 6000 euro invested for a short period, but sold almost everything and withdrew. They have had late payments on several projects, so i didnt want to take the risk. I have to say it was really easy to sell and withdraw. I still have one project there, 465 €.

Lessons learned the hard way, but actually i have no regrets, besides reacting to slow on the Envestio news. 

Several people have had a wonderfull time on the expence of Kurtzal and Envestio investors, calling us “stupid”, “dumb ass fuck” etc. The same people will feel bad when you have succes, and i really find it pathetic; why not feel good about other peoples succes and be empatic for their loss?

The greatest risk is the ones never taken.


Here is my summary on crowdlending. As you can tell, i allready forgot about the 8100 euro lost😄, its time to move on..

The horrible numbers for my crowdlending in january.

Besides the horror and scam, i am satisfied with my crowdlending income this month. 13% is quite all right. I expect higher yield next month from Crowdestor, Viventor and Crowdestate. Peerberry will perhaps be a tad higher, but Mintos and Grupeer will probably not; they are allready performing well.

My stock portfolio on Nordnet is doing very well. Actually so well that the increased value exceeds the loss on crowdlending.
Besides the monthly payment (50.000kr/6.700 euro) i added some additional funds, bringing the ammount of invested funds to 168.000 euro. In future blog posts i will add some more tabels and numbers about my stock portfolio.

Realestate

Not much to tell, things are just like last month, no further investments. We are not sure what to do with the new house when we leave Denmark. After the renovation it looks like we can earn 40-70.000 euros in a sale, getting us 140.000-170.000 € in the hand to invest. On the other hand could we rent it out and make a profit on that. Either way we are going to make a nice profit on the house. Nice😊

December 2019

What a month! I have increased my investments in crowdlending, funds and stocks, finished the budget on the new house, planned new investments and made plans and goals for 2020.

The last couple of month i have been buying index funds on Nordnet, i plan to make these the major part of my portfolio, so after we got the payment from our old house i have increased the monthly deposits from 20.000 DKR to 50.000 DKR (2700-6700 euro). I have considered to just buy for almost all the money, but i believe the saying “ time in the market beats timing the market”, so for now i will keep it to monthly payments. Nobody knows if the market is going up or down, so i will not risk buying all on the top. Another thing is, that i am still looking for opportunities to invest, so nice to have some cash.

I have increased my investments in crowdlending. From 9500 euros on 4 platforms to 47000 on 8 platforms. Crowdlending is a bit time consuming, since there is a lot happening all the time, but i actually enjoy it, mostly when there is additional money to earn, and not so much when i see troubles ahead, e.g. with Kuetzal.

Mintos is still my favorite platform, so i increased a lot.

Envestio has been Performing very well, so i increased here as well, but that was before they got a new COO with a rather strange history and career. I made a withdraw of all my free assets on Envestio, and will keep an open eye towards them.

Fast invest has been performing well, so dispite the fact that they will not reveal there LOs i increased a bit here as well.

Grupeer has been performing very well, gives a high yield and has a nice user interface. I increased a lot on Grupeer in december.

Crowdestor is new to me, i liked some of the projects and the user interface, so i am giving it a go.

PeerBerry seems straight forward, so i will try here as well.

Viventor is also new to me. Trying them out with a couple of thousand.

Kurtzal…well, that was clearly a mistake. Shortly after transfering 3000 euros, bad news reached the crowdlending community.
Luckily i was able to withdraw most of my money, only 100 euro left on the platform. For me Kuetzal is now a no-go.

I increased my investments on the stock market as well, mostly funds, but also some dividend stocks. For me, dividend is important, we need cashflow when we are going sailing without any other income than from our investments. My philosophy about the stock market is, than only few people can beat the market, although a lot of people claim to do it. I am not going to try, but instead i buy funds that follows the market and leave me almost carefree. I hope to get a 6-7% yield of which the dividend will be around 3%. The problem is off course, that the stock prices will go up and down, making it unfavourable to withdraw from the portfolio when the prices are low.

Real estate. After buying a much cheaper house, we have now fewer assets in real estate. I might get a cheap mortgage loan to use for investments, but not as long as we still have a lot of cash.

Here are the numbers for December, and for 2019. Be aware that the interest rates on my crowdlending portfolio are low, this is because the investments need some time to “get started”(payment has to start getting paid). January will be much better!

My current crowdlending portfolio
My portfolio on Nordnet. Funds 45000€, stocks 32000€ and 62000€ cash.

My real estate investments consists of 2 properties.

  1. A small appartment rentet out to our son, 24.000€ invested
  2. Our own house, newly bought and renowated. 91.200€ invested out of a total of 320.000€.

For the appartment i expect a cero return, this was bought to help our son finding a affordable an nice place to live, the rent is set, so it all evens up. One could say that then it is not an investment. Our house i consider an investment, and a rather good one. We got it cheap, due to the overall condition, we made a large down payment to get a lower monthly expenditure, and the house will be sold or rentet out when we leave Denmark. At that time i will consider what to do, rent og sell. I will calculate with an increase of the value at 1% each year.

Total net worth 240.800 Euros

Status 2019

My earnings in 2019 is rather modest, because it is my first year in my journey towards FIRE, and most of my investments are made late in 2019. But everything is just as planned, and i am really excited about 2020. My saving, on the other hand, has been great, but just around half of it consists of surplus from selling the old house. The saving rate is going to be better in 2020, i hope, because we now live in a cheaper house and are increasingly getting more and more aware of our spendings.

My goals for 2020 are:

Increasing my crowdlending portfolio to 70.000 euro and getting at least 6000 euros in interests.

Increasing my portfolio on Nordnet to 150.000 euro, getting at least 4500 euros in dividends.

Keeping my savingsrate above 50%

Save at least 40.000 euro to further investments

Getting much better at writing this blog, making it more appealing and interesting for you to follow.

And, almost most important; living even more intentional than now.

HAPPY NEW YEAR!

Please feel free to make a comment below!

New COO in Envestio; troubles ahead??

Envestio got a new COO a few weeks ago; Eduard Ritsmann . According to p2p-game he has been involved in some strange businesses ; http://p2p-game.com/aktuelle-artikel

Here is the the new COO on You tube, talking about coming development plans : https://www.youtube.com/watch?v=QCANVam13CI&t=155s What are your impressions? I have to say i am not impressed by a COO reading from a paper or screen, being recorded with a lousy camera (mobilephone?), in his position he has to appear more professional. It may not be important, but it makes me suspecious.

To be honest, i am not sure where i stand in this, but i will follow it closely. So far i made a withdrawel of all the money on my account, that wasnt invested in any project. I havent seen anything nearly as bad as the shady projects on Kuetzal, but enough to be worried.

Feel free to make a comment!

Crowdlending platforms

Here is a list of the platform i have invested in, or plan to do so in the future. There are several parameters to consider before you invest on a platform; what type of loan, the interest you are able to get, the risks etc. I have invested on several platforms and in several types of lones. Divercifying is important when you invest, not just in crowdlending, because of the risks you take. Investment always comes with a risk, so never put all your eggs in one basket, but spread them instead. I consider crowdlending high risk, and aim at 10 platforms in the nearer future.

I will opdate this list from time to time, as well as write about all new investments in the monthly update. Please notice that i use affiliated links. I started my own investments without using affiliated links from other bloggers, which i regret, i simply cheated myself the extra income. By using affiliated links both parties earn some extra, so no point not using them.

Mintos is, by far, the biggest platform with over 4.000.000.000 euros invested by over 200.000 investors. Autoinvest to ensure all your money are invested. Great and easy to use platform. Business loans, personal loans, car loans etc, typically you invest only i small amount in each loan.I have invested approx 15.000 euros on Mintos. Click on the logo to get to their page.

Envestio is one of my favorite platforms; easy to use, high yields and monthly payments of yields, into your account. You invest in projects, one at a time, and with higher amounts, allthough you can invest as little as 1 euro. There is a downside to Envestio; the lack of projects. I have invested in 3 projects, but since my last money transfer to Envestio, there has been no projects, so out of my 6000 euros on my account, only half is invested. You will have to be quick when the projects come, in order to get your piece of the pie. Click on the logo to get to their page.

Well, i should have reacted to my own concerns in previous post, unfortunatelly i did not… Envestio was a scam!! Millions of euros from investors all over Europe are maybe lost. I lost 8000 euros😡😡

My Grupeer account has performed well, so i just added more money, giving a total of 7200 euros. You can invest in loans and projects, and the yields are high, just around 13%. I will keep a close eye to my account, planning to raise my investments in the nearer future. Click on the logo to get to their page.

4000 euros invested on Fast invest. I will keep it there for now, not sure Fast Invest is the right platform for me. The performance has been good so far, but the transparency is not as good as i could be e.g. they will not inform you who the loan originators on their platform are! This might not be a problem, but for me transparency is really important, so i consider stopping my engagement with Fast Invest. Click on the logo to go to Fast Invest.

UPDATE: I am no longer investing in Fast Invest, and will not recommend anyone to do so. To many red flags..

I just recently started investing on Crowdestor, so far 3000 euros, of which 2000 euros are not yet invested in projects. Hopefully new projects will soon arrive to the platform. On Crowdestor you invest in projects, just like on Envestio. Click on the logo to go to Crowdestor.

I have recently added 3000 euros to my Kuetzal account, but still not invested in any projects. Waiting for the right project. Click on the logo to check Kuetzal out.

KUETZAL WAS A SCAM…..

In my seek for further platforms to invest on i came across Viventor, taht looks interesting; nice webside that is easy to get around, buy back garantee and a high yield. I will make an account there soon. Click on the loge if you want to check them out

Peerberry looks interesting too, so i will open an aacount there soon.

November 2019

What a month! We took a huge step towards financial endependence this month, unfortunately at the end of the month, so the numbers will not be on the charts before next months update. BUT both deals, on the old and the new house, is now settled leaving us with a decent amount of money to invest.

This is simply a result of always spending less than earned, a lot of DIY work and conscious living. None of us ever had high paid jobs, we never won the lottery( not surprisingly; we never gamble) , we have just lived the live we love, and it happens to be a partial frugal life.

So i am in the proces of finding new investments, it is really not that easy. I consider REIDs, solar/wind power, real estate and off course more crowdlending and stocks. The December update will show a lot more than the past 3 month, stay tuned! I am excitted about this new chapter!

Oktober 2019

Moving, moving, moving… We own way to much stuff for our new house, coming from 230m2 house, 150 m2 workshop and 100 stables to 123 m2 house and 24 m2 workshop! Throwing away, selling and giving away the entire month. It really is a good feeling to get rid of all that excess stuff, but it is a emotionally hard proces to go through. My guess is that we reduced all our belongings by 50%, but we still own to much for our small house, so i will have to build an addition to the 24m2 workshop.

We are still using all our cash to pay for the renovasion of the house, so no investments this month, besides the 1666 euro/10.000 kr to Nordnet. I have decided to stop investing on Fast Invest, because of th lack of transperency, so the autoinvest is now turned off, getting ready to make a withdrawel off the full amount. The performance has been good, and the poor results showed on the chart is due to the autoinvest not reinvesting any more.

September 2019

September went by without any changes, just the usual 1666 euros/10.000 kr transfered to my Nordnet account to invest in the 2 funds i have so far. We need all the cash we have for renovating the new house, it was build in 1973 and not much has been done since that. This is the 5 property i build or renovate, so it is sort of a rutine. DIY can be a very big help reaching FIRE, more on that matter later. We are really exited that everything is going according to our masterplan; the old and expensive house is sold and a never, and much cheaper has been bought, leaving us an amount to give us a big boost financially.

August 2019

Another exciting month! We have bought our new home; a small house 5 km from where we live now. It has just enough space for the 4 of us; my wife, daughter, dog and me. My new workshop is a little pathetic thought, 240 square feet compared to the current 1500. It will be a big challenge to get all my tools, motorcycles, sails etc in there, but is the best we have seen so far. I had to use 10.000 euros for the down payment, so no room for further investments this month. This month we reached our goal for saving for 2019; 40.000 Euros, 4 month ahead of scheduele, really nice!

Endnu en spændende måned! Vi har fået købt vores nye hjem; et lille rækkehus kun 5 km herfra. Der er lige præcis hvad vi 4 , skal bruge, bortset fra værkstedet, her går jeg fra 150 m2 til 24. Her skal jeg have alt mit værktøj, motorcykler, sejl osv. Det bliver svært, men sådan må det være. Vi har brugt penge på udbetalingen til det nye hus, så ingen investeringer denne måned. Vi har nået et af vores mål for 2019; 300.000 kr mere opsparet, 4 mdr før tid, det er bare rigtig lækkert!

We have been living intencional in 2019, making us reach our saving goal way ahead of time.

Distribution

Total investment value; 63730 euros – 633 less than last month, again due to the decreasing stock market.

July 2019

Great month, we were sailing the hole month, summer hollyday in Sweden. I added 6667 euros to Nordnet to buy single stocks, Danske bank and Nordea. They are rather low now, and they both pay dividends to their shareholders, so i think it will end up good. I also added 2600 euros to Mintos and 100 euros to Grupeer.

We got a mail about a new house for sale, i matches almost all of our criterias, so we were excited to see it after our swedish hollyday. It is really small, compared to our current house, and that is what we are looking for, and off course it is also a lot cheaper.

I am a little concered about the stock market, the value of my stocks is decreasing and has been for a while. I will continue investing in index fonds, but not so much in single stocks. I am beginning to wonder where to invest the money from our house sale, and i need at least one more “big” investment- Index fonds will be one, crowdlending will not be more than 100.000 euros and more properties will not be optimal, when we leave the country. Any ideas? We wil be needing investments that create some cashflow, and investments with low risk.

Dejlig måned, vi har været på sejlerferie i Sverige. Jeg har investeret 50.000 kr på Nordnet, på månedsopsparingen samt en portion Danske bank og Nordea. Kursen er ret lav nu og begge udbetaler ret højt dividende, så jeg regner med det bliver en god forretning på sigt. Jeg har haft lidt kvaler med at investere i to banker der i den grad har handlet uetisk. Jeg overførte også 20.000 kr til Mintos og 750 kr til Grupeer. under ferien i Sverige fik vi mail fra Boligsiden, at et hus der matchede vores kriterier var kommet til salg. Det så ret lovende ud, så vi var spændte på at komme hjem og se det. Det er meget mindre end vores nuværende, men også meget billigere, lige hvad vi kigger efter.

Aktiemarkedet bekymrer mig lidt, kurserne har været dalende et stykke tid nu, og det er svært at spå om hvornår bunden er nået. Jeg tænker også en del over hvilke investeringer vi skal foretage, når pengene fra huset kommer til udbetaling. Indexfondene på Nordnet er jeg ret glad for, dem vil jeg gerne have mange flere af, enkeltaktier har jeg mest for sjov, crowdlending giver rigtig godt men må anses for høj risiko og ejendomme er ikke optimale når vi befinder os på den anden side af kloden. Forslag? Vi leder efter investeringer med et vist cashflow og lav risiko.

Lovely Sæby on the way back from Sweden.

Distribution July

Total value of investments 64363 euros- 8623 more than last month

June 2019

As usual i have added 1333 euros to my Nordnet account. No further investments, but this month was never the less great; the house is sold!! The asking price was 766.667 Euros, and we sold it for 706.667 Euros. After all the bills are paid; broker, mortgage,taxes etc, this will leave us with just about 425.000 euros. A big chunk of that will be used to buy us another house, but there are plenty of room for investments!

The new owners will move in 1/11 2019, leaving us a couple of months to find a new home.

Distribution of investments June 2019

Total value of investments 55740 euros, 672 less than last month, due to my stocks on Nordnet.