hazellend
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PM fee
Sept 20, 2016 11:50:47 GMT
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Post by hazellend on Sept 20, 2016 11:50:47 GMT
Am I correct here?
Furniture cost Property moose limited - 3853
Property moose fee - 1768
Total fee to pm = 5621 = 19.38% of purchase price.
The flat seems like a great investment, but the new acquisition charges seem eye watering
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djpix99
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PM fee
Sept 20, 2016 12:28:19 GMT
Post by djpix99 on Sept 20, 2016 12:28:19 GMT
It would seem like that from my reading.
Im guessing this fee is used to help pay the 8% interest to investors in PMF A, however I would have expected that if PMF A is used to purchase the property then the purchase time should be reduce for investors in this SPV.
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Neil_P2PBlog
P2P Blogger
Use @p2pblog to tag me :-)
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PM fee
Sept 20, 2016 13:26:26 GMT
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Post by Neil_P2PBlog on Sept 20, 2016 13:26:26 GMT
I got some of this as I trust PM and obviously it would sell out in a few hours, but I couldn't work out the furniture fee. If it's already tenanted wouldn't they have furniture already? If not why not just go to IKEA and spend a third of that?
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pom
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PM fee
Sept 20, 2016 13:31:38 GMT
Post by pom on Sept 20, 2016 13:31:38 GMT
I'm sure the PMF A acquisition fee is rather smaller than the profits the 3rd parties were making out of us before PM were able to use PMF A to source properties themselves (the net rent predictions certainly look rather more generous than we could previously expect). Win-win as far as I'm concerned (especially as I'm also a lender in PMF A!)
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pom
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Post by pom on Sept 20, 2016 13:33:10 GMT
I got some of this as I trust PM and obviously it would sell out in a few hours, but I couldn't work out the furniture fee. If it's already tenanted wouldn't they have furniture already? If not why not just go to IKEA and spend a third of that? If you read the full listing on the PM site - it's not furniture, that was just the only place they can put it until they can update the field labels
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Steerpike
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PM fee
Nov 16, 2016 9:58:23 GMT
Post by Steerpike on Nov 16, 2016 9:58:23 GMT
While properties are funding there is a financials section, however, I can't see this section on properties in which I have invested or on the SM. I can't see why this information should be removed after funding.
For example, does anyone remember when the provision fund was introduced?
I see that SPV42 has a deduction for fencing work in October, but I thought that would have been covered by the provision fund.
I wonder what happens to any unused portion of the provision fund when the loan terminates.
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pom
Member of DD Central
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PM fee
Nov 16, 2016 10:20:54 GMT
Post by pom on Nov 16, 2016 10:20:54 GMT
While properties are funding there is a financials section, however, I can't see this section on properties in which I have invested or on the SM. I can't see why this information should be removed after funding. For example, does anyone remember when the provision fund was introduced? I see that SPV42 has a deduction for fencing work in October, but I thought that would have been covered by the provision fund. I wonder what happens to any unused portion of the provision fund when the loan terminates. I'd say the provision fund came in a year or so ago but can't remember exactly other than I have some that pre-date it. From memory they did say that anything left at the end gets distributed
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