shimself
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Post by shimself on Jan 22, 2014 13:10:21 GMT
just had an email from Housecrowd to say that project 46has stalled
"..stalled at £60,000. Have you all gone on strike? Is it too cold/wet/January-ish to fill out a share application form? Do you not love us anymore?"
Any ideas, I've just started with them, seems sound to me?
Steve
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mikes1531
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Post by mikes1531 on Jan 22, 2014 15:49:17 GMT
I've been investing with them for over a year, and everything looks good to me so far.
If you're new to them, you may not have realised that, in addition to being serious about what they do, there's a light-hearted streak that runs through their communications. I find that most refreshing and enjoy it, but it might not be to everyone's taste.
In general, there's an initial rush of money when they open a project for investment and then the inflow slows down. Of late, it typically takes about a week to raise the approximately £70k they need. It looks like in this case they got most of what they were looking for but they're still a bit short, and that's what prompted the email. I expect it went to everyone who's on their 'interested' list.
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mikeb
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Post by mikeb on Jan 22, 2014 18:42:29 GMT
I've been investing with them for over a year, and everything looks good to me so far. If you're new to them, you may not have realised that, in addition to being serious about what they do, there's a light-hearted streak that runs through their communications. I find that most refreshing and enjoy it, but it might not be to everyone's taste. In general, there's an initial rush of money when they open a project for investment and then the inflow slows down. Of late, it typically takes about a week to raise the approximately £70k they need. It looks like in this case they got most of what they were looking for but they're still a bit short, and that's what prompted the email. I expect it went to everyone who's on their 'interested' list. I can confirm that this has happened before, a general call for people to get their metaphorical finger out and fill in the forms -- I'm sure THC know how many people have requested the application pack, and of those, how many have actually returned them/paid up. Some projects go through so fast you almost blink and miss it (the best was one that was never even advertised as there was enough spare from previous projects to roll over into it!), it is around a project a week at the moment. Now all go look down the back of your sofa for £1000 and do your bit
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bugs4me
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Post by bugs4me on Jan 22, 2014 22:48:47 GMT
I've been investing with them for over a year, and everything looks good to me so far. If you're new to them, you may not have realised that, in addition to being serious about what they do, there's a light-hearted streak that runs through their communications. I find that most refreshing and enjoy it, but it might not be to everyone's taste. In general, there's an initial rush of money when they open a project for investment and then the inflow slows down. Of late, it typically takes about a week to raise the approximately £70k they need. It looks like in this case they got most of what they were looking for but they're still a bit short, and that's what prompted the email. I expect it went to everyone who's on their 'interested' list. The one area that doesn't encourage me to invest is the movement away from the original concept - buy a property, renovate and then sell it on. Stand to be corrected if that statement is not correct. The rental market is IMO a different animal and after renovation, with renters in a few years down the road, you're often into another (albeit smaller) renovation undertaking. Have I got the wrong end of the stick over this? - Any input anyone?
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mikes1531
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Post by mikes1531 on Jan 22, 2014 23:41:59 GMT
I've been investing with them for over a year, and everything looks good to me so far. If you're new to them, you may not have realised that, in addition to being serious about what they do, there's a light-hearted streak that runs through their communications. I find that most refreshing and enjoy it, but it might not be to everyone's taste. In general, there's an initial rush of money when they open a project for investment and then the inflow slows down. Of late, it typically takes about a week to raise the approximately £70k they need. It looks like in this case they got most of what they were looking for but they're still a bit short, and that's what prompted the email. I expect it went to everyone who's on their 'interested' list. The one area that doesn't encourage me to invest is the movement away from the original concept - buy a property, renovate and then sell it on. Stand to be corrected if that statement is not correct. The rental market is IMO a different animal and after renovation, with renters in a few years down the road, you're often into another (albeit smaller) renovation undertaking. Have I got the wrong end of the stick over this? - Any input anyone? You are right that the concept has changed from the initial one. I suspect that the same soft market that provided the 'bargains' for them to buy was making it difficult for them to sell. So the concept is now to hold and rent for a while. If the market does firm up then the gains on sale will be better and it will become harder to find bargains to buy. In the meantime, they think they can pay a 6% dividend -- which is better for taxpayers than 6% interest. It remains to be seen how much 'fix-up' work will be required to sell after a few years of renting, and what overall returns will result.
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shimself
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Post by shimself on Jan 23, 2014 8:12:14 GMT
If you're new to them, you may not have realised that, in addition to being serious about what they do, there's a light-hearted streak that runs through their communications. I find that most refreshing and enjoy it, but it might not be to everyone's taste.
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Post by oldnick on Mar 29, 2014 9:07:07 GMT
This board has gone quiet. Is that for the good reason that everything is tickety-boo, or are heads in hands?
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Post by uncletone on Mar 29, 2014 9:42:05 GMT
I just got my loan note on my fourth house. They're still buying property at a rate of knots, and I see no evidence of anything to worry about. Except the long wait before any interest shows up, of course, but that's par for this particular course. The contentment boredom level exceeds even Ratesetter!
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Post by oldnick on Mar 29, 2014 11:00:32 GMT
I just got my loan note on my fourth house. They're still buying property at a rate of knots, and I see no evidence of anything to worry about. Except the long wait before any interest shows up, of course, but that's par for this particular course. The contentment boredom level exceeds even Ratesetter! Thanks uncletone. I'm looking for a straight forward p2p that doesn't require any experience or frequent input, but with a middling return, for my youngest (adult) to cut her teeth on. So this seems to fit the bill.
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Post by uncletone on Mar 29, 2014 11:07:20 GMT
You might consider Wellesley & Co as another "pay it in and forget it" outfit, and a possible advantage of monthly interest if you choose.
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Post by oldnick on Mar 29, 2014 12:21:11 GMT
You might consider Wellesley & Co as another "pay it in and forget it" outfit, and a possible advantage of monthly interest if you choose. True - I may suggest she splits between them - but that add complication. The main aim of the exercise is to put the money beyond the reach of Kurt Geiger (outrageously styled and priced shoes for those of you without a female in the house).
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shimself
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Post by shimself on Mar 29, 2014 16:53:04 GMT
This board has gone quiet. Is that for the good reason that everything is tickety-boo, or are heads in hands? chugging along. Just done a small scale EIS capital raising exercise to fund growth plans. I've found a rival, crowd2let.co.uk
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mikeb
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Post by mikeb on Mar 29, 2014 20:52:20 GMT
This board has gone quiet. Is that for the good reason that everything is tickety-boo, or are heads in hands? Tickety-boo, gentle flow of paperwork, Land Registry title documents, surveys etc. coming through on all the ones I'm in. Project 53 currently underway, some of the earlier ones to be put on the market shortly to see if they sell, all the basic details at the blog. Possibility of extending the reach to other areas (so it looks a little less like Let'sBuyManchester.com) coming shortly ...
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j
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Post by j on Apr 4, 2014 22:20:01 GMT
Had a look at the website & read info/faqs today. Seems a good opportunity to diversify into property on a small scale since I can't afford one all by myself. Read the comments here & all seem positive so far. Anybody had any negative issues with them or unhappy with any aspects of their offering? Would appreciate any comments/feedback.
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shimself
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Post by shimself on Apr 6, 2014 8:29:05 GMT
I'm happy, but it's only been a few months. (Interest declared I participated in the equity raising). The communications are good. They intend to branch out from Greater Manchester area, which will be good diversification, but a management challenge.
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