p2pfan
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Post by p2pfan on Jul 20, 2019 19:32:31 GMT
I've been keeping a keen eye for several months on Jaevee, which is a property investment platform that launched in early 2018. The key difference between Jaevee and other P2P property opportunities is that (a) your funds go into a SPV that owns the property development and (b) Jaevee have inhouse property development experience, so can theoretically step in and complete projects much easier than with investments via other P2P platforms. Returns seem to be generous at 10%+ p.a. What stops me from jumping in is that they are a start-up. There are hardly any reviews online (including on these forums) and Jaevee themselves weren't able to share any data with me in terms of payments to investors. Also the projects seem to be on the higher risk level. Last but not least, any delays on payments to lenders merely accrue interest at 0.25% per month, which is low for overdue payments. Any thoughts? Thanks. |
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Post by mrclondon on Jul 20, 2019 20:05:31 GMT
You might want to research connections between the guys behind this venture and the borrowers on a number of Lendy loans (incl DFL031 currently overdue at -226 days and DFL009 repaid at a more respectable -6 days).
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Post by gravitykillz on Jul 20, 2019 20:46:00 GMT
Major red flag. Avoid
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Post by Ace on Jul 20, 2019 20:49:55 GMT
I hadn't heard of these before, so took a quick look. Seems to be ultra high risk for ultra high reward.
I looked at spv1012. It was predicting an ROI of over 120% in 2 years. For those sort of returns you would obviously have to take a hell of a lot of risk. To get that reward you would need to achieve a 100% LTGDV. You are basically backing a 3rd tier loan for the top 10% of the funding. I didn't sign up and read the small print, but you might be looking at a total loss of your capital if the development sells for anything below 90% of the GDV.
One issue would be the minimum investment per loan of £5k, making diversification a problem for small hitters like me. I'd have to conclude that this would be even more like gambling than my other P2P platforms. Not that there's anything wrong with that if you can afford to lose your stake and realize fully what you're "investing" in.
Am I tempted? ... A little bit, but I'm half hoping that some recently inherited surplus funds don't come through in time ...
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agent69
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Post by agent69 on Jul 20, 2019 21:15:39 GMT
Had a quick look at some of the offerings. Exit strategy - sell for profit.
What could go wrong?
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hazellend
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Post by hazellend on Jul 20, 2019 21:56:48 GMT
No way am I putting money into any more P2P start ups, especially illiquid ones.
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Post by gravitykillz on Jul 20, 2019 22:27:38 GMT
In the great words of the dragons. "I'm out"
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cwah
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Post by cwah on Jul 21, 2019 8:00:40 GMT
I was about to look at it but realising it has connection with previous scammers there isn't need to spend any more time for analysis.
Thanks. We should have a database of such individual, like credit rating
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hazellend
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Post by hazellend on Jul 21, 2019 8:04:14 GMT
When is this cycle of poisonous individuals moving from one failed project to another (with other people’s money) going to end?
A database sounds like a great idea!
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Post by Badly Drawn Stickman on Jul 21, 2019 8:29:59 GMT
When is this cycle of poisonous individuals moving from one failed project to another (with other people’s money) going to end? A database sounds like a great idea! Some might suggest that anybody who had actually repaid a loan on Lendy should be considered for Sainthood. Your reaction seems overly strong, there is just connections that suggest caution and deeper investigation is needed. If only there was some collective area where people could do this....
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p2pfan
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Post by p2pfan on Jul 24, 2019 17:20:07 GMT
Thank you for the feedback folks! I'm so glad I asked here and benefited from your collective insights and experience.
If the Jaevee team have previously behind unpaid loans on either Lendy or any other platforms I wish to have nothing whatsoever to do with them. A leopard doesn't change its spots.
A register of defaulters would be a tremendous resource indeed (but for a range of reasons may be impractical to compile).
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