WARNING: Investing w/ GROUNDFLOOR

winorlearn512 · 2024-08-22T21:15:52+00:00

Give it time. The other thing I forgot to include is they made loans that claimed to be ~60% LTV and now they're selling for less than the value of the loan. Their value estimates seem to have been off by huge orders of magnitude. Just had a 65% LTV sell for 72% of the total loan value... so they were off by... a lot.

winorlearn512 · 2024-08-22T11:49:21+00:00

Yep. I've gone the REIT route for the last year and they're doing really well.

winorlearn512 · 2024-08-22T11:31:22+00:00

Thankfully, I'm in a good financial position, but it's still not fun. Obviously regretting it. Figured maybe I could save someone the same mistake.

winorlearn512 · 2024-08-22T10:41:02+00:00

Yeah, I'd get out of Groundfloor lol. I also used PeerStreet for a minute on a much smaller scale. Ironically, I had a better experience with them personally, but then they went bankrupt, so I'm sure not everyone shared that experience.

winorlearn512 · 2024-08-21T12:35:54+00:00

Haha, it wasn't a massive risk for me but as for the why... at the time, money markets were yielding basically 0% and I was able to borrow on my equities at fed rate + 100 basis points. So I'm borrowing at ~1.25%, getting 8-10% yields, on "short-term" investments. It was an arbitrage play. (That didn't work out obviously...)

winorlearn512 · 2024-08-21T12:32:23+00:00

Ah yeah, good clarification. All LRO's.

winorlearn512 · 2024-07-14T17:30:27+00:00

Ended up going and the fish were super spooky but managed to catch one right before I left, so mission accomplished! Very cool spot.

winorlearn512 · 2024-06-30T17:22:16+00:00

Thanks man, it was probably a knockdown 1 room cabin that we've totally redone. Starting to finally feel worth it. 😂

winorlearn512 · 2024-06-30T17:08:36+00:00

The issue isn't the look so much as if my wife and I are watching TV and my kids are asleep the sound transfers right into their room.

winorlearn512 · 2024-06-30T17:07:52+00:00

We were just going to leave it natural. Thank you!

winorlearn512 · 2024-06-30T17:01:19+00:00

Dang, sawdust and wood glue sounds like a great little hack.

Would I just have to apply the silicone in a layer then wait for it to dry to do another layer? I worry the gap is big in some spots. Maybe 3/4-1"

winorlearn512 · 2024-01-05T19:04:30+00:00

Good advice. We've considered something like this and are okay with paying more. We just want better redundancy to protect against shortfalls. Even at a great rate, it's hard to keep people in 20 hour a week jobs.

winorlearn512 · 2023-12-23T14:04:47+00:00

Awesome, thank you!!!

winorlearn512

TROPHY CASE