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Post by investorman on Nov 13, 2017 15:16:06 GMT
Although pubs are not easy money, I will likely invest, it just depends on whether I split between the two tranches.
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Post by ablrate on Nov 13, 2017 15:30:36 GMT
Personally I'm in favour of 'phone a friend' feedback to the platform, especially if they are venturing into a new area, or if they want someone(s) to underwrite it in some way ('yeah, that looks OK to me, I'd stick a couple of £100k in if it was 13% or better'). Platforms who know a lot about boats, or airplanes, may turn out to know 'not enough to avoid getting ransomed' when they dabble in property (and pubs are 'well specialist' IMO .. a half mile location change can turn it from a money spinner into a money pit, or (more often) an 'apply for PP to un-license it and turn it into residential'.) I agree with that, and generally with Ablrate gathering as much advice as possible about the expected quality of their loan offerings. If this was paid-for indiependent professional advise from qualified persons then there would be not problem, except cost. The only problem comes with using lenders. I should say that I would not wish to be a member of ProClub - despite having a substantial stake in the loans. The issues I see are; The role is as an advisor/consultee of the platform about potential forthcoming loans. It is not a lender role as such, and is not covered in the lender terms and conditions. This is a separate role being solicited from people who happen to be lenders, and it provides presumably free (are there any incentives?) and non-professional advice which Ablrate cannot rely on - Ablrate will naturally take full responsibility for its decisions, no problem with that. I am not sure what the Pro in ProClub means, but it does not mean that Ablrate are taking professional advice. The members will gain extra and early information about the loan opportunity and Ablrate's assessment of it, plus the chance to influence the loan offering. When it comes to bidding they will know more about the loan than ordinary members and will have had longer to use knowledge to assess the loan and perform enhanced due diligence, which for example may be advantageous in making a larger or smaller bid. Presumably there is no Chinese wall between the two roles, advisor and lender. Effectively two classes of lender are being created - one class having enhanced information about loans. The role of advisor is undefined and unknown to ordinary lenders on the platform. This forum is not the platform. The selection of advisors is an arbitrary process operated by Ablrate. The whole process is neither open nor transparent.
Apart from that, it seems a sensible process to improve loan offerings, and so just the bathwater needs to be thrown out.
I would disagree with a number of comments here: There is no relationship of advisor/consultant created by the 'Pro' Club (it was an arbitrary name that stuck). There is no advice involved. It is basically the same feedback we get when a loan goes live, albeit in an earlier stage of the process. To suggest that is an advisor role would be to put this forum in jeopardy and class the feedback we receive here as 'advice' which clearly it is not. On pretty much every loan we have ever done we have received emails directly and comments on here which we take a look at and act upon if required. The Pro Club is just a more efficient way of doing this on a small amount of loans.
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elliotn
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Post by elliotn on Nov 13, 2017 15:45:20 GMT
Also, I note the borrower Mr C*** T*** appears to have led an exciting life. Love the reading time abl. I can make my withdrawal a day earlier (8pm being tomorrow for me!) instead of selling at a loss like some other fishy assets .
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elliotn
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Post by elliotn on Nov 13, 2017 16:13:16 GMT
Love the reading time abl. I can make my withdrawal a day earlier (8pm being tomorrow for me!) instead of selling at a loss like some other fishy assets . With reference to james100 comment ?on DDC I presume as I cannot see it, I wonder if they will serve porridge for breakfast. #78 above.
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Post by dan1 on Nov 13, 2017 16:21:13 GMT
Interesting discussion regarding ProClub but I do wonder why the need for secrecy until the email on Friday. I guess we can deduce a lot from those posting for/against with associated 'likes'
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elliotn
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Post by elliotn on Nov 13, 2017 16:29:58 GMT
Interesting discussion regarding ProClub but I do wonder why the need for secrecy until the email on Friday. I guess we can deduce a lot from those posting for/against with associated 'likes' I think I remember you pinning abl down on something similar, was it the unusual underwritten amounts - I remember the gas generators selling in seconds (before I came out the bathroom) and wondered why the need for less than a grand of u/w!
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duck
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Post by duck on Nov 13, 2017 16:35:59 GMT
With reference to james100 comment ?on DDC I presume as I cannot see it, I wonder if they will serve porridge for breakfast. #78 above. (Top link from Mirror covers it in all its bald truth). ummmmm can't see that, is it in DD central, can't see why a link to the Mirror would be allowed in here.
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blender
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Post by blender on Nov 13, 2017 16:37:39 GMT
I would disagree with a number of comments here: There is no relationship of advisor/consultant created by the 'Pro' Club (it was an arbitrary name that stuck). There is no advice involved. It is basically the same feedback we get when a loan goes live, albeit in an earlier stage of the process. To suggest that is an advisor role would be to put this forum in jeopardy and class the feedback we receive here as 'advice' which clearly it is not. On pretty much every loan we have ever done we have received emails directly and comments on here which we take a look at and act upon if required. The Pro Club is just a more efficient way of doing this on a small amount of loans. I understand the sensitivity about the semantics and the word 'advice' might be poorly chosen. However, there is no risk to this forum because the loan has already been launched or announced and settled, and from here you received just feedback on something you have done. It is not right to tie together feedback post-launch and 'feedback' (how am I able to judge what it is) on proposed loans. Do you not think that the following describes a process of soliciting feedback from a few chosen lenders for the purpose of optimising the actual loan to be offered? - nothing to do with this forum. "I wish to thank ProClub members who have looked at this deal previously. We gratefully received the comments and suggestions provided and a number of them are reflected in the revised company presentations" The purpose is? I am sure you will take the concerns I expressed into account in developing processes. I do appreciate the level of care and attention that you put into ensuring that each and every loan is chosen and presented to give the best chance of a successful lending experience.
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Nomad
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Post by Nomad on Nov 13, 2017 16:46:46 GMT
Also, I note the borrower Mr C*** T*** appears to have led an exciting life. Love the reading time abl. And I can stay away from the computer at 8pm - nothing about this loan appeals to me - the type of business, its location, or the borrower's CV... A good friend has a pub in Lincs which has been a never-ending struggle financially and is now on the market at a figure well below this one.
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n
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Post by n on Nov 13, 2017 16:47:30 GMT
ummmmm can't see that, is it in DD central, can't see why a link to the Mirror would be allowed in here. Apologies, post #78 is james100 that leopard did not find. (My steer was the Mirror link if anyone wanted to check - first return by Google for our borrower’s name). I am confused. I think that what is meant is that Googling the borrower's name produces some links, the topmost of which is an article in the Mirror.
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Post by investorman on Nov 13, 2017 16:51:11 GMT
Apologies, post #78 is james100 that leopard did not find. (My steer was the Mirror link if anyone wanted to check - first return by Google for our borrower’s name). I am confused. I think that what is meant is that Googling the borrower's name produces some links, the topmost of which is an article in the Mirror. I think this is where DDC falls down when people refer to it but not all can see it!
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Post by Badly Drawn Stickman on Nov 13, 2017 16:55:05 GMT
Apologies, post #78 is james100 that leopard did not find. (My steer was the Mirror link if anyone wanted to check - first return by Google for our borrower’s name). I am confused. I think that what is meant is that Googling the borrower's name produces some links, the topmost of which is an article in the Mirror. Lets try this way. You would expect somebody with three pubs to have spent time behind bars, serving drinks obviously
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slush
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Post by slush on Nov 13, 2017 16:56:05 GMT
There is also a 3rd new (25th May 2017) Limited Company at the same address, J M F******H Ltd? Thank you for the other cryptic clues for further reading Nothing feels good about this one.
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james100
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Post by james100 on Nov 13, 2017 16:57:56 GMT
On the plus side, at least it's hot on the security front
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elliotn
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Post by elliotn on Nov 13, 2017 17:05:32 GMT
I am confused. I think that what is meant is that Googling the borrower's name produces some links, the topmost of which is an article in the Mirror. I think this is where DDC falls down when people refer to it but not all can see it! For the avoidance of doubt - james100 post is in this thread and is post 78. I merely confused everyone by saying have a look at the Mirror article under our borrower’s name if you’d like to know what he meant...
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