The Impact of Cash Drag

Marketplace Lending

Real Estate Closing Delays iFunding offered a preferred equity deal in September. It was a great timing as I had to find short-term fixed-income investments for the extra cash from balance transfers. I was in touch with them closely for project timeline to minimize cash drag. REI deals usually take about a month to close.・・・

October 2016 App-O-Rama Results

App-O-Rama

Chase Slate Pay no balance transfer fee when you transfer a balance during the first 60 days your account is open. 0% intro APR for 15 months on purchases and balance transfers from account opening. RESULT: Declined Santander Sphere 0% Introductory APR for 24 billing cycles for transactions made within 90 days of opening your・・・

Quarterly Report 2016Q3

Quarterly Reports

Net Worth: $583,314 Account 2016Q2 2016Q3 Change Cash $5,267 $185,450 $180,183 Lending Club $83,548 $44,676 $38,871 Direct Lending Income Fund $513,431 $527,048 $13,617 Groundfloor $5,200 $5,240 $40 iFunding $0 $100,000 $100,000 Debt ($80,900) ($279,100) $198,200 Total $526,545 $583,314 $56,768 Key Factors Earned Income Salary: $21,877 Bonus: $10,650 RSU: $5,236 ESPP: $13,369 Relocation Package: $15,000 Portfolio Income・・・

Cross Account Balance Transfers

Credit Cards

Cross-Account Transfers Generally electronic funds transfers between different account owners are not allowed. However, banks rarely verify the account owner of the target account. In some cases, banks take additional due diligence when the amount is over certain threshold (i.e. $100,000). But most of the time, cross-account ACH works without any problem. Balance Transfer Results I・・・

Bank of America Closed All Credit Card Accounts

Credit Cards

Background Today I received letters from Bank of America stating that they are closing my credit cards. As a result of a recent review, we’ve closed your above referenced account because there are too many accounts with balances and you currently owe sufficient amounts on your revolving lines of credit. Bank of America closed 4・・・

Marketplace Offerings 2016Q4

Marketplace Offerings

Overview DLIF has a well-diversified portfolio of 50/50 secured and unsecured loans. It’s an investment with a solid high return, low risk, and predictable yields. Higher-risk investments such as real estate and alternatives should have at least 5% higher returns than DLIF. I am revisiting my investment strategy for REI. Higher interest rates spoil real estate returns. The・・・

Credit Card Arbitrage Round #2

Credit Card Arbitrage

Background For the second round of credit card arbitrage investment strategy, I am going to invest in real estate crowdfunding for short-term and high-yield investment opportunities. Groundfloor will be my primary platform, and iFunding for backup. In theory, a 16% ROI over 12-months with a borrowing cost of 3% will generate 13% profit. Total Balance Transfers: $352,711・・・

September 2016 App-O-Rama Results

App-O-Rama

Credit Score TU: 803 EQ: 803 EX: 804 Citi Simplicity 0% Intro APR on purchases and balance transfers for 21 months RESULT: Instant Approval CREDIT LIMIT: $7,000 -> $25,000 BankAmericard Travel Rewards 20,000 bonus points if you make at least $1,000 in purchases in the first 90 days of your account opening – which can・・・

August 2016 App-O-Rama Results

App-O-Rama

Credit Score TU: 810 EQ: 810 EX: 812 LightStream Anything Loan unsecured fixed-rate new car loans Low Rates: Starting as low as 1.74% APR with AutoPay RESULT: Approved for Secured New Auto Loan BankAmericard Platinum Plus Introductory 0% APR for your first 18 billing cycles for balance transfers made within 60 days of opening your・・・

Quarterly Report 2016Q2

Quarterly Reports

Net Worth: $526,545 Account 2016Q1 2016Q2 Change Cash $27,439 $5,267 $22,172 Lending Club $154,690 $83,547 $71,142 Direct Lending Income Fund $500,187 $513,431 $13,243 Groundfloor $5,000 $5,200 $200 Debt ($162,385) ($80,900) $81,485 Total $524,930 $526,545 $1,615 Key Factors Earned Income Salary: $16,558 ESPP: $6,799 Portfolio Income Lending Club: $1,142 Groundfloor: $200 Passive Income Direct Lending Income Fund: $13,243・・・

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