p2pfan
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Post by p2pfan on Feb 18, 2022 13:51:14 GMT
I've been recommend Shojin as a P2P platform and have been looking into it. There's not as much indepth information about it online as many other P2P providers. I've had my fingers very severely burned and lost a lot of money with the type of lending they seem to specialise in, which is mezzanine financing to commercial property developers, therefore have serious concerns. On the other hand, Shojin seem like a cut above the rest and have been around for a long time. The potential returns are also decent. What are your thoughts on Shojin? Thanks. |
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Feb 18, 2022 14:29:44 GMT
I've been recommend Shojin as a P2P platform and have been looking into it. There's not as much indepth information about it online as many other P2P providers. I've had my fingers very severely burned and lost a lot of money with the type of lending they seem to specialise in, which is mezzanine financing to commercial property developers, therefore have serious concerns. On the other hand, Shojin seem like a cut above the rest and have been around for a long time. The potential returns are also decentg. What are your thoughts on Shojin? Thanks. They are one to be careful you understand what you are investing in as they offer bonds, equity and 1/2nd charge loans. They are not a P2P platform but investments/AIF AIUI
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p2pfan
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Post by p2pfan on Feb 19, 2022 20:20:19 GMT
Thanks.
So, to clarify, if Shojin is not P2P, does that mean that losses incurred on Shojin cannot be offset against profits on P2P platforms?
That would be a major negative in my eyes because there are P2P platforms like CapitalStackers which do similar property development mezzanine fundraising that do have that significant tax benefit.
I've lost a large sum on Cogress (which is non-P2P) for this very type of lending and can't offset that against anything.
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Post by Ace on Feb 19, 2022 20:44:00 GMT
Thanks. So, to clarify, if Shojin is not P2P, does that mean that losses incurred on Shojin cannot be offset against profits on P2P platforms?That would be a major negative in my eyes because there are P2P platforms like CapitalStackers which do similar property development mezzanine fundraising that do have that significant tax benefit. I've lost a large sum on Cogress (which is non-P2P) for this very type of lending and can't offset that against anything. Yes, I believe that is correct, as Shojin don't have the electronic lending permission. I believe the same is true for any loans in ISA wrappers, even if the platform does have the electronic lending permission.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Feb 19, 2022 20:56:16 GMT
Thanks. So, to clarify, if Shojin is not P2P, does that mean that losses incurred on Shojin cannot be offset against profits on P2P platforms? That would be a major negative in my eyes because there are P2P platforms like CapitalStackers which do similar property development mezzanine fundraising that do have that significant tax benefit. I've lost a large sum on Cogress (which is non-P2P) for this very type of lending and can't offset that against anything. Yes, as Ace says they don't have the required permission to qualify for income tax relief so losses would have to be claimed elsewhere as applicable. The P2P terminology is now used too widely to be relied on without proper interrogation of the register for confirmation. I hope FinancialThing will cover this element in his review.
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p2pfan
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Post by p2pfan on Feb 19, 2022 21:18:21 GMT
Thank you for the prompt responses when we should probably all be doing something more exciting on a Saturday evening.
If Shojin doesn't have the P2P tax write-off benefits, then unfortunately it would be a no-go for me. Real pity as it seemed like a professionally-run company with a solid track-record.
Having lost my shirt on higher risk property development investments through loan notes etc. in recent years, I now have a policy that, for the "high risk" element of my portfolio, I will only make investments where they have tax benefits that P2P lending offers or those from VCT, EIS and SEIS investments.
For me it doesn't make sense to make investments with similar high risk profiles which don't have a single one of the significant tax benefits that thousands of other investment opportunities in the UK readily provide.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Feb 19, 2022 21:30:56 GMT
Pub with WiFi... place of many evils 😜
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iRobot
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Post by iRobot on Feb 19, 2022 21:51:10 GMT
Thank you for the prompt responses when we should probably all be doing something more exciting on a Saturday evening. If Shojin doesn't have the P2P tax write-off benefits, then unfortunately it would be a no-go for me. Real pity as it seemed like a professionally-run company with a solid track-record. Having lost my shirt on higher risk property development investments through loan notes etc. in recent years, I now have a policy that, for the "high risk" element of my portfolio, I will only make investments where they have tax benefits that P2P lending offers or those from VCT, EIS and SEIS investments. For me it doesn't make sense to make investments with similar high risk profiles which don't have a single one of the significant tax benefits that thousands of other investment opportunities in the UK readily provide. Curious as to which of these SoMo fits into? (TBH, I didn't think it did!)
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Post by Ace on Feb 19, 2022 22:12:07 GMT
I'm curious that ISA wrapping wasn't on the list of tax benefits. So far my tax savings from IFISA wrapping have massively outweighed any P2P loss offsetting. Perhaps I've just been lucky.
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p2pfan
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Post by p2pfan on Feb 20, 2022 13:19:59 GMT
Yes, very true, Somo doesn't fit in with that! That is my 'exception to the rule' as they have been a well-run ship and the returns have been particularly high until the recent interest rates drop on the platform.
ISA wrappers are a very valuable benefit, of course. A whole variety of investments can be made via an ISA so it's not a particularly benefit of Shojin.
In my case my investments are considerably in excess of the annual ISA limit (which, by the by, hasn't been increased for many years as we all know), so it is irrelevant.
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pfcapx
P2P Blogger
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Post by pfcapx on Apr 4, 2024 18:04:58 GMT
Hey guys, I've actually started to write a review on my latest experience with Shojin, you can find that here pfcapital.co.uk/2024/03/28/shojin-review-romford/I'm still playing around with the structure, scoring, and type of content to include, but I'd love to get your feedback! Cheers, Josh |
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