Godanubis
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Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
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Post by Godanubis on Jan 29, 2019 20:31:24 GMT
What are people’s thoughts on these numerous loans ?
Will they be another “Blue Boy”?
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trium
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Post by trium on Jan 29, 2019 21:17:33 GMT
What are people’s thoughts on these numerous loans ? Will they be another “Blue Boy”? Which numerous loans? Do you mean other loans to the same borrower? Other loans on similar developments? Other loans similarly late?
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Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
Posts: 2,011
Likes: 1,013
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Post by Godanubis on Jan 30, 2019 1:59:50 GMT
What are people’s thoughts on these numerous loans ? Will they be another “Blue Boy”? Which numerous loans? Do you mean other loans to the same borrower? Other loans on similar developments? Other loans similarly late? I mean the parts of huge loan and others associated that are not yet paid back on time and now no longer being renewed It is a huge project and I’ve no doubt will eventually pay fully. I prefer valuations to keep up with cash 💰 given and a reasonable buffer. I think FS is doing the correct thing as is the borrower. I was just asking what others thought.
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adrian77
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Post by adrian77 on Jan 30, 2019 9:41:53 GMT
interesting viewpoint - can you tell me what underpins this opinion. To me it looks highly problematic as I am concerned about the long term liquidity position...
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Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
Posts: 2,011
Likes: 1,013
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Post by Godanubis on Jan 30, 2019 23:03:14 GMT
interesting viewpoint - can you tell me what underpins this opinion.To me it looks highly problematic as I am concerned about the long term liquidity position... "To me it looks highly problematic as I am concerned about the long term liquidity position..."
Why ?? Thought you were out of FS 
The borrower has acted well in the past and the assets are of good quality.
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adrian77
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Post by adrian77 on Jan 31, 2019 7:57:10 GMT
The above is what a surveyor posted and I agree with every damn word and he clearly knows this business better than I (if nobody else) does. Have read the excellent mrclondon DD and read the latest accounts - I did not realise this chap had other developments so an interesting on to follow - just my opinion
You are correct I have not put a penny into this one - time to work on one of my loan free developments which may or may not turn a profit - tough game this property lark!
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arby
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Post by arby on Jan 31, 2019 9:03:47 GMT
The above is what a surveyor posted and I agree with every damn word and he clearly knows this business better than I (if nobody else) does. Have read the excellent mrclondon DD and read the latest accounts - I did not realise this chap had other developments so an interesting on to follow - just my opinion You are correct I have not put a penny into this one - time to work on one of my loan free developments which may or may not turn a profit - tough game this property lark! Surely everybody should be more than aware that lending against something that is proposed to be built is more risky then lending against something already is built. I truly hope that nobody investing in FS or posting on this board ever thought otherwise.
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SteveT
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Post by SteveT on Jan 31, 2019 9:30:41 GMT
The above is what a surveyor posted and I agree with every damn word and he clearly knows this business better than I (if nobody else) does. Have read the excellent mrclondon DD and read the latest accounts - I did not realise this chap had other developments so an interesting on to follow - just my opinion You are correct I have not put a penny into this one - time to work on one of my loan free developments which may or may not turn a profit - tough game this property lark! Surely everybody should be more than aware that lending against something that is proposed to be built is more risky then lending against something already is built. I truly hope that nobody investing in FS or posting on this board ever thought otherwise. There are plenty who continue wring their hands almost daily on the Lendy DFL threads who clearly hadn't a clue that 70% LTGDV is NOT the same thing as 70% LTV 
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Doc
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Post by Doc on Jan 31, 2019 9:49:44 GMT
The above is what a surveyor posted and I agree with every damn word and he clearly knows this business better than I (if nobody else) does. Have read the excellent mrclondon DD and read the latest accounts - I did not realise this chap had other developments so an interesting on to follow - just my opinion You are correct I have not put a penny into this one - time to work on one of my loan free developments which may or may not turn a profit - tough game this property lark! I think most would agree that lending on property developments has risks, this applies to all the p2p sites and other property investments. However the fact that properties are actually still being built suggests some are prepared to finance these activities and some do so profitably.
I think it worth pointing out however that the quote you selected and 'agree with every damn word' is from someone (grumpismus) who has only made 1 post on the forum. I'm not saying that this poster is incorrect, but I wouldn't take everything I read on a forum as fact.
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