rogerthat
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Post by rogerthat on Jun 14, 2018 13:03:29 GMT
1475985216
3hrs and 11% funded...why so popular ?
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james21
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Post by james21 on Jun 14, 2018 13:06:16 GMT
1475985216
3hrs and 11% funded...why so popular ? I dont know; Cant see anything wrong with this one
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woodland
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Post by woodland on Jun 14, 2018 14:06:15 GMT
1475985216
3hrs and 11% funded...why so popular ? I dont know; Cant see anything wrong with this one Me neither after a 2 minute look... Will take a closer look tonight. I'm sure there'll be plenty left.
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lucky
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Post by lucky on Jun 14, 2018 14:54:01 GMT
Perhaps potential investors are wary due to the problems FS seem to have monitoring property developments.
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adrian77
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Post by adrian77 on Jun 14, 2018 16:04:14 GMT
I too have had a look and I am currently flagalleting myself with my smutty stick
This one just does not sound right to me - firstly why does the developer need to borrow money at a minimum of 1.5% pcm if this is such a cash cow?
well how much debt! If the developer is in debt at this stage then it does not bode well for the rest of the development. FS clearly have zero expertise in managing 7 figure building projects
and what happens when the current loan runs out .... back for more, then an additional loan and then a renewal etc? This one may be a good investment but I can't see it.
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Post by westcountryfunder on Jun 14, 2018 18:30:53 GMT
I too have had a look and I am currently flagalleting myself with my smutty stick This one just does not sound right to me - firstly why does the developer need to borrow money at a minimum of 1.5% pcm if this is such a cash cow? well how much debt! If the developer is in debt at this stage then it does not bode well for the rest of the development. FS clearly have zero expertise in managing 7 figure building projects and what happens when the current loan runs out .... back for more, then an additional loan and then a renewal etc? This one may be a good investment but I can't see it. Isn't this a bridging loan pending finding development finance? There could be a problem if the valuation is unrealistic and a forced sale becomes necessary. That needs to be considered carefully, but I see no other obvious snags.
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steve11523
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Post by steve11523 on Jun 14, 2018 18:52:12 GMT
I don't see this as a cash cow but the security looks better than many other loans - two houses nearing completion and a site which sounds moderately desirable. FS might get better buy-in from us punters if they did provide more clarity on the reasons for borrowing/refinancing.
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woodland
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Post by woodland on Jun 14, 2018 20:52:42 GMT
“Since the valuation was carried out on 13 March 2018, works have continued, as can be seen from our updated photos when compared to the images in the valuation report.”
Surely the middle picture is not a real picture of where the project is at! Seems to show completed houses - architect mock-up I’m certain.
The 3rd picture is already in the 13 March 2018 report!
The first picture does not obviously show any improvement from the 13 March report!
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steve11523
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Post by steve11523 on Jun 14, 2018 21:11:58 GMT
I agree with your observations on the second and third photos. On the first photo the rooves look different but it is hard to discern much change which is a concern given the three months which have elapsed since the valuation.
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TheDriver
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Slightly bonkers
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Post by TheDriver on Jun 15, 2018 12:15:10 GMT
“Since the valuation was carried out on 13 March 2018, works have continued, as can be seen from our updated photos when compared to the images in the valuation report.”Surely the middle picture is not a real picture of where the project is at! Seems to show completed houses - architect mock-up I’m certain. The 3rd picture is already in the 13 March 2018 report! The first picture does not obviously show any improvement from the 13 March report! I suggest the middle photo is looking out of the site to another development across the road? Planning was for render and weatherboard finish, not what's in the photo.
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mjc
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Post by mjc on Jun 17, 2018 16:07:47 GMT
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baldpate
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Post by baldpate on Jun 17, 2018 16:56:06 GMT
I don't think it can be the same site. According to zoopla, Court Meadows is postcode LD3 0DZ, with 18 of the properties sold in 2016. Our site (according to valuation doc) has a different postcode. Maps too seem to show a slighly different location within the village.
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mjc
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Post by mjc on Jun 18, 2018 21:51:13 GMT
Yes you are of course quite right, it is directly opposite. Having spoken to a dog walker he said they have been working on site until a couple of days ago. It was not until 16.50 I arrived, so all baricaded up, some ground works are certainly continuing, and a caravan is on site. Taken photos, do I have to locate an image sharing site to post? But no obvious signs externally of what has been done since March. I’ll try to pop back in 2 or 3 weeks. hmnnnnnn!
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rogerthat
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Post by rogerthat on Jun 19, 2018 8:50:27 GMT
Yes you are of course quite right, it is directly opposite. Having spoken to a dog walker he said they have been working on site until a couple of days ago. It was not until 16.50 I arrived, so all baricaded up, some ground works are certainly continuing, and a caravan is on site. Taken photos, do I have to locate an image sharing site to post? But no obvious signs externally of what has been done since March. I’ll try to pop back in 2 or 3 weeks. hmnnnnnn! If you have any photos, there's a wotsit 5th on the left of the smiley thingymajig at the top that enables you to post images (4th on the left for video)..does 'dragging and dropping' work ?  Seems so though they have to be 1Mb max (it says)
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Post by dan1 on Jun 19, 2018 9:37:25 GMT
Yes you are of course quite right, it is directly opposite. Having spoken to a dog walker he said they have been working on site until a couple of days ago. It was not until 16.50 I arrived, so all baricaded up, some ground works are certainly continuing, and a caravan is on site. Taken photos, do I have to locate an image sharing site to post? But no obvious signs externally of what has been done since March. I’ll try to pop back in 2 or 3 weeks. hmnnnnnn! Hi mjc, Thanks very much for offering to post the photos of the site, photos are always well received, nothing like having boots on the ground. Please could we ask you to use links to an image sharing site instead of uploading attachments? We have very little storage on the forum so we've limited the number of attachments and size. There's a guide here... p2pindependentforum.com/thread/4950/post-images-forum?page=1#post-104910If you need a hand then just post or PM a mod and we'll get it sorted. Just one last point, check the photos don't easily identify the site (eg address visible), thanks.
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