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Post by oldnick on Apr 6, 2014 12:27:46 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. I had a look on their website but couldn't see any mention of the branching out plans. How did you find out about it, and how far have they got with it?
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j
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Post by j on Apr 6, 2014 19:59:27 GMT
Thanks for the replies guys. Some questions, there are two directors (ie the founds of THC) with no others added from outside. I cannot see yearly accounts & from what I've read, no houses have been sold yet so we have no idea of future possible profits if one goes for the lower rent rate + sale 50/50 split. Another question is how do THC directors make money, is it purely from profit on house sales, if & when they happen, as the info I read states that left over rent income is put into a provision fund. If they do take fees, again where are the accounts to show for it? Have I missed anything else?! It seems like a good idea & genuine but I still have slight suspicions
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mikeb
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Post by mikeb on Apr 6, 2014 20:05:55 GMT
I had a look on their website but couldn't see any mention of the branching out plans. How did you find out about it, and how far have they got with it? It was in an update email to members/investors ... various potential partners in the North East, West Midlands, Yorkshire and Milton Keynes. Rumblings about a new web platform, planned for mid may. Not sure whether this replaces or enhances the DropBox arrangement being used to distribute all the documents about the projects currently. Also, their FCA authorization came through for 1st April, which is a plus point.
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mikeb
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Post by mikeb on Apr 6, 2014 20:15:46 GMT
Thanks for the replies guys. Some questions, there are two directors (ie the founds of THC) with no others added from outside. I cannot see yearly accounts & from what I've read, no houses have been sold yet so we have no idea of future possible profits if one goes for the lower rent rate + sale 50/50 split. Another question is how do THC directors make money, is it purely from profit on house sales, if & when they happen, as the info I read states that left over rent income is put into a provision fund. If they do take fees, again where are the accounts to show for it? Have I missed anything else?! It seems like a good idea & genuine but I still have slight suspicions Four directors shown here :- companycheck.co.uk/company/07893395/THE-HOUSE-CROWD-LIMITEDAt least one of the earlier houses has sold and divvied up to the investors (001, 002) -- 008 is Sold Subject To Contract. 009 "Sold". Take a look down the bottom end of this page and see ... www.thehousecrowd.com/property-investments/Careful on the use of the phrase "provision fund", Zopa and RS have one of those each. The fund you're talking from is to cover, PER PROJECT, any shortfalls, voids in rent income, unexpected boiler expiry etc ... The fees side of it etc. is all "under the covers" so to speak, you are not explicitly charged fees. You get 6% on the money you invested, that's it. If and when the house sells, you get your share of 50% of the uplift in value and your capital back. That's the basic plan anyway!
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j
Member of DD Central
Penguins are very misunderstood!
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Post by j on Apr 6, 2014 20:42:40 GMT
Thanks for the replies guys. Some questions, there are two directors (ie the founds of THC) with no others added from outside. I cannot see yearly accounts & from what I've read, no houses have been sold yet so we have no idea of future possible profits if one goes for the lower rent rate + sale 50/50 split. Another question is how do THC directors make money, is it purely from profit on house sales, if & when they happen, as the info I read states that left over rent income is put into a provision fund. If they do take fees, again where are the accounts to show for it? Have I missed anything else?! It seems like a good idea & genuine but I still have slight suspicions Four directors shown here :- companycheck.co.uk/company/07893395/THE-HOUSE-CROWD-LIMITEDAt least one of the earlier houses has sold and divvied up to the investors (001, 002) -- 008 is Sold Subject To Contract. 009 "Sold". Take a look down the bottom end of this page and see ... www.thehousecrowd.com/property-investments/Careful on the use of the phrase "provision fund", Zopa and RS have one of those each. The fund you're talking from is to cover, PER PROJECT, any shortfalls, voids in rent income, unexpected boiler expiry etc ... The fees side of it etc. is all "under the covers" so to speak, you are not explicitly charged fees. You get 6% on the money you invested, that's it. If and when the house sells, you get your share of 50% of the uplift in value and your capital back. That's the basic plan anyway! Thanks mikeb, will go through info now
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mk
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Post by mk on Apr 10, 2014 20:25:25 GMT
just received notification they're a few quid short of total needed for project 54. £9k to be precise. Any takers?
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mikeb
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Post by mikeb on Apr 11, 2014 17:33:33 GMT
Because 55 has its engines running and ready to take off, and 54 is in the way!
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mk
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Post by mk on Apr 11, 2014 17:50:46 GMT
Because 55 has its engines running and ready to take off, and 54 is in the way! 54 is now fully funded according to their website & as you say 55 is up & running!
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mk
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Post by mk on Apr 21, 2014 21:41:57 GMT
Do we know if anybody from THC knows of this forum's existence & thus follow it. I got a couple of suggestions but may opt to email them directly otherwise.
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mikes1531
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Post by mikes1531 on Apr 21, 2014 22:53:18 GMT
Do we know if anybody from THC knows of this forum's existence & thus follow it. I got a couple of suggestions but may opt to email them directly otherwise. frazerf is registered here as a 'Representative of The House Crowd'. Unless someone else has been delegated the UserID, he's one of the directors of THC. However, he's never posted anything, and it doesn't look like he's logged in since he registered. Someone could, of course, read the forum without logging in. I'd recommend emailing them directly. My experience with contacting THC directly has been positive. Perhaps when you contact them you might ask them to get a bit more involved in the P2PIF? Another approach might be to make your suggestions here and then email THC and request that they respond here, so everyone can view the correspondence.
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mk
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Post by mk on Apr 27, 2014 17:13:56 GMT
Had an email couple of days ago to ask for more investment on project 56 with some shares still up for grabs
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shimself
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Post by shimself on Apr 29, 2014 13:18:20 GMT
Had an email couple of days ago to ask for more investment on project 56 with some shares still up for grabs That's quite usual; it was a similar chivvy which prompted me to start this thread in the first place, but I've learned now.
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mikes1531
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Post by mikes1531 on Apr 29, 2014 17:12:40 GMT
Had an email couple of days ago to ask for more investment on project 56 with some shares still up for grabs That's quite usual; it was a similar chivvy which prompted me to start this thread in the first place, but I've learned now. And it seems to have worked, because Project 57 is now open for investment.
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j
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Penguins are very misunderstood!
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Post by j on Apr 29, 2014 19:04:51 GMT
That's quite usual; it was a similar chivvy which prompted me to start this thread in the first place, but I've learned now. And it seems to have worked, because Project 57 is now open for investment. They certainly seem to be motoring on. Looking at their site, they seem to have an offering roughly every couple of weeks. Shame they can't reduce their shares to say £500 each rather than £1k but I do understand they can only do it to 150 people at a time which is quite restrictive. I wonder what the legal reasons for that is, if anyone knows?
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mikes1531
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Post by mikes1531 on Apr 29, 2014 19:39:43 GMT
And it seems to have worked, because Project 57 is now open for investment. They certainly seem to be motoring on. Looking at their site, they seem to have an offering roughly every couple of weeks. Shame they can't reduce their shares to say £500 each rather than £1k but I do understand they can only do it ot 50 people at a time which is quite restrictive. I wonder what the legal reasons for that is, if anyone knows? I think it's closer to a purchase every week than every fortnight. My understanding was that they're limited to sending the detailed offering info to 150 people. I think that's related to regulations on private placements, but I could be all wrong about that. Hopefully someone who knows can explain what the restriction is.
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