blender
Member of DD Central
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Post by blender on Apr 26, 2021 13:07:39 GMT
Gone just inside three minutes.
Any instant returns?
ps. The two downward projections at the front are pseudopodia, not legs proper, imo.
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KoR_Wraith
Member of DD Central
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Post by KoR_Wraith on Apr 26, 2021 13:13:22 GMT
Instant returns  ... Evidently people were keen on the high interest rate and seemingly low LTV to a borrower with an excellent repayment record. For me, the risk of value collapse in the event of a default was too high to invest a meaningful amount. |
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p2pfan
Member of DD Central
Full-Time Investor
Posts: 745 
Likes: 838
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Post by p2pfan on Apr 26, 2021 13:25:25 GMT
Instant returns ... Evidently people were keen on the high interest rate and seemingly low LTV to a borrower with an excellent repayment record. For me, the risk of value collapse in the event of a default was too high to invest a meaningful amount. Yes, the documentation itself refers to the fact that the collateral will be difficult to sell. In the case of default, it will be Herculean task to boot people around the country out of their leased Portacabins ("nurses, pardon the snow but we're going to have to continue giving the vaccines in the car park") and then sell them. As you've said, the counterbalance is the apparently low LTV and Mr F's payment track-record. Many other borrowers, who excel at playing dirty games when it comes to making loan repayments, will never understand, but when you have a payment record and reputation like Mr F you reap the rewards in business and in life over the long term.
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Post by Badly Drawn Stickman on Apr 26, 2021 18:08:10 GMT
I would have thought a big Scottish Leisure resort would need a few of these in the early stages of development. Probably useful in getting a bit of early custom in the staycation era.
Talking about leisure resorts, is it a month yet?
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blender
Member of DD Central
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Post by blender on Apr 27, 2021 7:54:47 GMT
I would have thought a big Scottish Leisure resort would need a few of these in the early stages of development. Probably useful in getting a bit of early custom in the staycation era. Talking about leisure resorts, is it a month yet? Yes, it's all going to be repaid on 29th, just in time to be moved into 159 before the underwriters hoover up the rest.  Everything meticulously timed and running like clockwork here - now where did we put that key?
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Post by Badly Drawn Stickman on Dec 8, 2021 22:13:13 GMT
No update on this one yet.
I can see no reason why this one was ever attached to the others in the first place, given it was pitched as self financing (income from rentals from memory).
Given each update seems worse than the last I can only assume the news is going to disappoint for some reason?
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GreenZero
Member of DD Central
The early bird may get the worm, but it's the second mouse who gets the cheese
Posts: 221
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Post by GreenZero on Jan 6, 2022 10:49:43 GMT
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Post by Badly Drawn Stickman on Jan 6, 2022 11:25:32 GMT
I never asked directly. There being little point as I doubt the 'official line' would be changed. Communication has always been on the platforms terms only and is currently non existent. That is always a good sign obviously........
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woodie
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Post by woodie on Jun 22, 2022 19:16:32 GMT
Promised an update for Monday 20th ... have I missed it ?
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hubert
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Member is Online
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Post by hubert on Sept 10, 2022 7:24:11 GMT
ablrate Why is this loan is not listed under 158 in the 'Existing Loans' list. This loan is now grouped with F***p*w*r in the update. What has happened to the security ? What is the connection ?
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