kaya
Member of DD Central
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Post by kaya on Sept 21, 2017 9:17:30 GMT
SPV 13 relisting is really struggling to fill even a small funding requirement. SPV 83 is forever  (waiting to fill!). It looks like it never will. There are other properties over-due for relisting as well, but until SPV13 completes, nothing else in the queue even begins, presumably. Personally I think that propertymoose needs more of a revamp than just the latest website spruce up. Like, perhaps, more of a policy towards selling off unpopular and under-performing properties. The present system is geared towards retaining every property to increase the size of the propertymoose empire - that always creates more income for them, but sometimes to the detriment of investors. Thoughts anyone? |
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carolus
Member of DD Central
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Post by carolus on Sept 21, 2017 10:44:47 GMT
Agreed - I think the fact that there hasn't been a genuine new property for months is rather telling. My feeling is that they perhaps overreached with some of the larger property deals and don't have the investor supply to make up for it. This is surely not helped by the fact that information and updates about properties is still pretty unclear and infrequent, the values etc of these relaunches don't seem at all transparent (has anyone made money from them?) and that all the buy to sell properties *still* haven't sold.
Even more agreed on your final point - it doesn't seem obvious to me that PM's incentives are really aligned with ours. As long as they keep hold of the properties, they get a constant stream of rental income, seemingly unaffected by costs etc which as far as I'm aware come out of our share, sowhy wouldn't they keep them? And then even if it does come to sale there's I can't see a clear reason from their point of view to ensure that there's profit for shareholders.
All this combined with seemingly wildly optimistic yield estimates and a marked decrease in the speed and clarity of responses from the help team is putting me off the platform more each day. Haven't been increasing my contribution for a while, but now considering selling off more of my holdings.
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Post by sayyestocress on Sept 21, 2017 13:03:37 GMT
I'm not as pessimistic as you guys. The loan offerings fill up pretty quickly and the two BTL properties up at the moment are moving slowly, but my opinion is that it's for non doom and gloom reasons.
SPV83 is massive in size compared to their usual offerings and most investors probably have all they wanted from this development from the original listing that these flats were a part of (SPV81). SPV81 was split into two because there wasn't enough appetite for the sheer size of the initial 7 flat offering. I'm not sure it will ever fill unless PM make a real push for new investors. I agree that they've over-reached with this development.
The amount on offer for the SPV13 re-listing is small, but it doesn't appear to be the best performer; the original investors that are selling out are probably doing so at a capital loss and the rental yield is towards the lower end of the PM scale such that original investors selling to the crowd won't have made much money over the two year term. I would guess most people aren't interested as a result. I wonder if PM would sell on the open market if new investors couldn't be found to buy the shares of those wanting to exit?
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jnm21
Posts: 441
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Post by jnm21 on Sept 21, 2017 17:40:41 GMT
I wonder if PM would sell on the open market if new investors couldn't be found to buy the shares of those wanting to exit? Surely they would have no choice? But then again, it seems to be the investors who get no choice! The recent Bristol (was it D1) investment with the buy more get a better percentage offer sucked all that I would have invested for a while, so yes, they probably are overstretched. Personally I have not liked some of the recent offerings.
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ben
Posts: 2,020
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Post by ben on Sept 21, 2017 19:32:13 GMT
Originally I started investing in PM as out of the business models of similar sites, PM was the better one for investors. But unfortunately over time they have changed this and it is now starting to turn into a poor imitation of PP. Unless something changes fairly rapidly I do not see PM surviving for the long term. The original properties are now coming up to the end of term and the original optimistic valuations are coming back to haunt them. Unless you are willing to sell at a loss then you are forced to stay in past the original end of term.
So new investors seeing that are not going to be that keen to invest and older investors like me and going to be unwilling to put new money in. Unfortunately that is not the only issue that PM have. They seem to be pretty poor at finding tenants and when they do they must be working through Lendy's borrowers list of dishonest citizens. A lot of there calculations appear to be fantasy and make believe (When deciding to invest I personally just half the returns they say and as a general rule that has been pretty accurate).
They also appear to be carrying to much dead weight and have far to many staff for the size of the business.
At the moment I am getting a far higher return on PP so until things change I will not be investing much in PM again.
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littleoldlady
Member of DD Central
Running down all platforms due to age
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Post by littleoldlady on Sept 21, 2017 20:46:00 GMT
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Post by propertycalf on Dec 6, 2017 23:41:58 GMT
If the platform is struggling, what kind of income do people think the secondary market is bringing in for the company?
I know the fees are negligible for each transaction, but I would imagine it depends on the amount of transactions their experiencing?
Can it really be in that much trouble?
Their still in the driving seat for recieving management fees and acting as the 'middle man' for rental distributions.
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(waiting to fill!). It looks like it never will. 
