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Peerstreet Peer to Peer Real Estate Investment Update

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  • Peerstreet Peer to Peer Real Estate Investment Update

    I am doing an update today because I have fully gone through a foreclosure and here are the results.

    There was a palm springs house I invested 1k in that only had 3 months of interest payments before the payment stopped. The property went into foreclosure after the owner stalled as long as possible with a bankruptcy filing. This house was then went onto the market trying to be sold for 2+ years. The loan to value was 75%, however the property was sold for about 85% of the appraised value. Because it was an expensive 1.9 million dollar property, the amount of fees accumulated from 2.5 years being on the market cost peerstreet over 200k(including legal fee). The principal distributed to investors was a claimed 95% of investment. I received what it look like to be 90% of investment. The interest and penalty fees earned from this property then subtracted 10% I didn't get back equals a return of -5%, or 50 dollars.

    This is the only property out of the 30+ I have invested in that went into REO. I had late payments but they all ended up fine.

    Total interest I have earned is about 9k since I started with an average of about 44k invested in 2.7 years.

    I am actually surprised how liquid this investment being since a lot of houses ended up paying my principle back in under 6 months.

  • #2
    Good stuff there. Thanks for sharing.
    How can you have any pudding if you don't eat your meat?

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    • #3
      Originally posted by Singuy View Post
      I am doing an update today because I have fully gone through a foreclosure and here are the results.

      There was a palm springs house I invested 1k in that only had 3 months of interest payments before the payment stopped. The property went into foreclosure after the owner stalled as long as possible with a bankruptcy filing. This house was then went onto the market trying to be sold for 2+ years. The loan to value was 75%, however the property was sold for about 85% of the appraised value. Because it was an expensive 1.9 million dollar property, the amount of fees accumulated from 2.5 years being on the market cost peerstreet over 200k(including legal fee). The principal distributed to investors was a claimed 95% of investment. I received what it look like to be 90% of investment. The interest and penalty fees earned from this property then subtracted 10% I didn't get back equals a return of -5%, or 50 dollars.

      This is the only property out of the 30+ I have invested in that went into REO. I had late payments but they all ended up fine.

      Total interest I have earned is about 9k since I started with an average of about 44k invested in 2.7 years.

      I am actually surprised how liquid this investment being since a lot of houses ended up paying my principle back in under 6 months.
      Singuy, what platform are you using and whats been your investment strategy? It actually sounds like you've made out pretty well for the amount you've got invested.
      james.c.hendrickson@gmail.com
      202.468.6043

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