This month saw a major diversification. Whilst investigating a euro equivalent for CrowdProperty, not only did I discover EstateGuru, but also the rest of the P2P lending market in Europe. I decided to transfer my Crowdproperty investment to a EstatGuru this month. Further to that I have dipped my toes in the rest of the P2P market in Europe. The Covid pandemic has decimated the P2P lending market with lots of defaults on loans. This has really exposed a lot of the P2P platforms. Many of the Scams or poor business models have ceased trading. The result of this has been a clean out of the market. The platforms that have survived are by default the better business models with a future and should be a safer place for my money. I don’t intend to have too many platforms long term but to start with I am going to diversify across multiple platforms to see which of them will work best for me. I have chosen 5 platforms to start with. In addition to the euro platforms I have found a UK start up business (Elfin Market), offering a P2P funded credit card. Their lending criterion is extremely strict reducing the risk to investors. They are also registered and regulated by the FSA and offer to wrap your investment in an IFISA. My Crowd property investments are wrapped in an IFISA this tax year so I can’t do the same on ElfinMarket. The last P2P investment this month is in a UK P2B platform called Crowd2Fund. I have only put in £110 and will top up next month before actually making an investment.
Again I have put an increased amount into FreeTrade, though next month I will probably drop this back to a regular £500 as the market looks to have had its recovery bounce from the bottom.
I have skipped a month on the Invictus fund, but continued my regular $100 of TUSD into NEXO. I have also bought some BTC and placed it in BlockFi to earn interest.
Total investment £3002
This month saw a minor drop in income from TheSunExchange as the days get shorter. I have a couple of projects installing at the moment which should compensate over the next few months when they go live. With continued investment during the Southern Hemisphere winter, I should see a significant increase in income once summer comes along.
Monthly income continues to increase from CrowdProperty though I’m not expecting it to reflect the 8% of my investment till at least a year has passed, possibly 18 months.
Euro P2P lending is a new income stream this month, though as I have only just started it is minimal.
Crypto saw a steady growth in the Invictus IML fund. There has been a big jump in income from my BTC investments with BlockFi adding to my TUSD in NEXO.
A good month for dividends from my FreeTrade account.
Total Income £66.85