Comments on: Groundfloor Review: Pros, Cons, And Alternatives https://thecollegeinvestor.com/18616/groundfloor-review-p2p-real-estate-lending/ Navigating Money And Education Mon, 06 May 2024 01:20:47 +0000 hourly 1 By: BigFool https://thecollegeinvestor.com/18616/groundfloor-review-p2p-real-estate-lending/#comment-480126 Mon, 06 May 2024 01:20:47 +0000 https://thecollegeinvestor.com/?p=18616#comment-480126 In reply to NotaNovice.

GF is supposed to vet the borrowers. I have invested in about 170 LROs starting in 2021.
Out of my remaining 39, 4 of which are from 2021, 34 are in default. The most recent maturity date is July, 2023. I haven’t invested since June, 2022. Questionsforhonest investors is correct to be worried. It is becoming (or has become) clear that GF is a ponzi scheme, or at least a very poorly run crowd funding platform which is not worth anyone’s trouble, otherwise why all of the problems with the borrowers paying the loans back? For the 130 repaid loans, I was supposed to get 8.9%, but the actual return was 5.9%. And do not tell me I was not diversified. I’ve had A-D LROs and all types have defaulted. I would not advise putting any $ into this.

]]> By: Daniel Train https://thecollegeinvestor.com/18616/groundfloor-review-p2p-real-estate-lending/#comment-478299 Tue, 03 Oct 2023 18:40:39 +0000 https://thecollegeinvestor.com/?p=18616#comment-478299 What a crap platform. They don’t properly vet their borrowers, and the lenders (you) end up on the hook. The “reasons” for not getting your money back vary, but they areall along the lines of, “My dog ate my homework.”

Avoid this crap platform.

]]> By: Philip https://thecollegeinvestor.com/18616/groundfloor-review-p2p-real-estate-lending/#comment-478100 Mon, 11 Sep 2023 01:12:01 +0000 https://thecollegeinvestor.com/?p=18616#comment-478100 In reply to Robert.

I agree – worst investment ever .

]]> By: Philip Reilly https://thecollegeinvestor.com/18616/groundfloor-review-p2p-real-estate-lending/#comment-478092 Sun, 10 Sep 2023 03:30:45 +0000 https://thecollegeinvestor.com/?p=18616#comment-478092 278 loans with 243 repaid – 28 defaulted – 15 extended and 2 performing . They claim my return is 9 % return the real return is more like an actual loss .

]]> By: Philip Reilly https://thecollegeinvestor.com/18616/groundfloor-review-p2p-real-estate-lending/#comment-478091 Sun, 10 Sep 2023 03:25:44 +0000 https://thecollegeinvestor.com/?p=18616#comment-478091 In reply to Chris.

iT MUST. BE AN EMPLOYEE . I diversified with them and invested in over 200 loans . Their default rate is really high, and their published returns are misleading if not fraudulent. I invested in 278 loans with 243 repaid, 28 defaulted, and 15 extended with 2 performing
Their default rate in my portfolio is 10 % and counting . They calculate return on loans paid back NOT on the overall portfolio which is FALSE REPORTING in my opinion.

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