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Post by c0nfuzed on Mar 2, 2024 13:28:08 GMT
£2400 invested in the Huddersfield PBSA block 5 years ago.
Do I want to vote to sell my stake for £345?
I wish I'd never come across these clowns.
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Post by brightspark on Mar 2, 2024 17:46:34 GMT
Probably not. A large sum is not involved and if you accept what you say is on offer you may sleep better.
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benaj
Member of DD Central
Posts: 4,885 
Likes: 1,604
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Post by benaj on Mar 2, 2024 17:51:10 GMT
It’s true I had worse. For example, disaster returns from some bad apples in S&S, losing 100%, or 100% loss on foreign platforms.
The next bottom worst investment is equity investment on an platform planning to launch REIT without owning a brick. 96% loss
I also suffered similar fate with PM, very bad loss.
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Post by overthehill on Mar 2, 2024 19:33:03 GMT
I lost 3k on a 5k investment in a fund run by arrogant prick Neil Woodford and it's get worse because I probably had chances to get out at 1k and 2k losses.
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Post by c0nfuzed on Mar 3, 2024 12:18:58 GMT
Sorry for our loss!  But for sure, the Huddersfield block is the worst one of my PP/LHX picks. It all sounded so rosy in the beginning... edit: 'Huddersfield' |
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agent69
Member of DD Central
Posts: 5,630
Likes: 4,197
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Post by agent69 on Mar 3, 2024 14:32:59 GMT
Not the greatest loss in the world, but an IFA friend recomended WS Ruffer total return as a fund that concentrated on wealth preservation. 12 months later it's down 8% (compared to a couple of global funds that I picked myself and are up about 17%)
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Post by scepticalinvestor on Mar 3, 2024 19:02:23 GMT
£2400 invested in the Huddersfield PBSA block 5 years ago. Do I want to vote to sell my stake for £345? I wish I'd never come across these clowns. My investments across various different P2P outfits would give you great competition. I was blissfully naive and terribly poor as estimating an appropriate risk premium for P2P investments in general. Two things saved me from a total disaster, by luck more than anything else - diversification within platforms (setting a hard ceiling on individual investments) and coming across this forum. I felt so stupid when I read through the threads on different investments that I was/am stuck in. If only I’d come across this forum a couple of years earlier, I’d have known better - to give very little credence to valuations/LTVs, dial up scepticism to the max, not take platform statements at face value, saved thousands of pounds, hours of time, loads of mind space and generally avoided all this nonsense. I sometimes fantasise of having using these funds to top up my pension contributions with 40% tax relief in index trackers, would’ve could’ve should’ve. Property Partner was my gateway into the world of P2P, for that reason I can never forget them. Your post is very succinct and powerful, I’d suggest you put it in a Trustpilot review for PP/LHX.
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Post by scepticalinvestor on Mar 28, 2024 17:45:41 GMT
This review on their Trustpilot page doesn’t mention Via*** Huddersfield but it sounds like it! uk.trustpilot.com/review/londonhouseexchange.com———————- Latest update from my long running journey with Property Partner / LHX 2018 - property acquired - Property bought for £3.84 million (purchase price and acquisition costs) in 2018. - Price per share paid by investors was £2.03 2024 - property will be sold - Property net sales proceeds expected to be £2.3 million (IF the current theoretical valuation is achieved) - Value per share that investors will receive is a mere £0.297 TOTAL return including dividends paid in the 5.5 years: MINUS 85% If you invested £100 in 2018, what you’d have got back is less than £15. DO NOT entrust them with your money. |
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beh
Member of DD Central
Posts: 175
Likes: 77
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Post by beh on Apr 1, 2024 10:33:19 GMT
"due to previous valuations being desktop valuations"
I can understand desktop valuations for regular houses but for something fairly specialist that's supposedly worth £millions I'm baffled they got away with it for so long.
PP have picked some poor properties but the quality of the RICS valuations hasn't helped.
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Post by scepticalinvestor on Apr 1, 2024 14:52:46 GMT
"due to previous valuations being desktop valuations"
I can understand desktop valuations for regular houses but for something fairly specialist that's supposedly worth £millions I'm baffled they got away with it for so long.
PP have picked some poor properties but the quality of the RICS valuations hasn't helped.
From my experience of property-backed investments across multiple platforms, as far as the platform (and the borrower) is concerned, overly optimistic RICS valuations are a feature of the process, not a bug. The only stakeholder losing out from this feature is the individual lender. Where the gap between the RICS valuation and achieved sale has been minimal has been standard freehold single residential properties, for everything else it’s been unreliable at best.
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