stub8535
Member of DD Central
personal opinions only. Not qualified to advise on investment products.
Posts: 1,442
Likes: 945
|
Post by stub8535 on Nov 29, 2016 19:47:21 GMT
Feeling negative on this opportunity.
a box with locks on worth £450! Really?
whats the resale value in 6 months considering how many of these boxes are out there?
plenty of warnings on get rich quick 15% loans on shipping containers. Can't see the difference.
is it a case of the Kings new clothes fairy story here?
i could get more comfortable if the loan was to a storage company with an all assets debenture but this loan is not structured like that. Is there a list of serial numbers? Are there tracking devices? Do the boxes get used just for storage or for transport as well?
Lots of ifs buts and maybes. IMHO too many for 12% to be comfortable.
What do others think?
|
|
ben
Posts: 2,020
Likes: 589
|
Post by ben on Nov 29, 2016 20:52:56 GMT
It's something different and I welcome that. IF the containers are in good condition the loan value seems feasible. My personal gripe is that, with the bid limit, it's just not worth the effort of moving money for a £6 return. The bid limit only lasts a few hours so sure with this one will be a fair bit left over.
|
|
baldpate
Member of DD Central
Posts: 548
Likes: 406
|
Post by baldpate on Nov 29, 2016 22:35:47 GMT
30 used 20ft containers valued at £19,500 = £650 each. I think that's in the ball park if they are in reasonable nick. These things last for years!
But no details given on the valuation process or who did it - this isn't the usual jewellery/pawn stuff!
Also no details about how the schedule is maintained (I presume this is a 'grouped asset loan', where the borrower can rotate different containers in and out of the schedule - so who is checking this & how?).
|
|
stevio
Member of DD Central
Posts: 2,065
Likes: 894
|
Post by stevio on Nov 29, 2016 22:41:48 GMT
collateral do you have any comparators or links we could compare the prices too - please help us to see how the valuation was made?
|
|
guff
Posts: 730
Likes: 707
|
Post by guff on Nov 29, 2016 22:45:33 GMT
collateral do you have any comparators or links we could compare the prices too - please help us to see how the valuation was made? There are plenty of very tatty looking ones on FleaBay for £700 to £1k.
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,870
Likes: 11,097
|
Post by ilmoro on Nov 29, 2016 23:56:49 GMT
It's something different and I welcome that. IF the containers are in good condition the loan value seems feasible. My personal gripe is that, with the bid limit, it's just not worth the effort of moving money for a £ 6 return. £12 unless you're planning on bailing half way through term, this ones a 12m loan.
|
|
archie
Posts: 1,838
Likes: 1,842
|
Post by archie on Nov 30, 2016 7:43:26 GMT
It's not showing under Pipeline for me. Not enough information to decide.
|
|
|
Post by Collateral Rep on Nov 30, 2016 7:50:21 GMT
Morning archie, I'll get the developers to check and get it back up ASAP. Many thanks, Gordon
|
|
star dust
Member of DD Central
Posts: 2,998
Likes: 3,531
|
Post by star dust on Nov 30, 2016 7:58:14 GMT
It's not showing under Pipeline for me. Not enough information to decide. Nor me either on my iPad (safari), was just about to log out and try the laptop, but I can't seem to log out at the moment
|
|
stub8535
Member of DD Central
personal opinions only. Not qualified to advise on investment products.
Posts: 1,442
Likes: 945
|
Post by stub8535 on Nov 30, 2016 7:58:30 GMT
It was showing ok late last night Gordon.
|
|
|
Post by Collateral Rep on Nov 30, 2016 8:14:13 GMT
Hi,
It's showing in Pipeline now.
Many thanks,
Gordon
|
|
baldpate
Member of DD Central
Posts: 548
Likes: 406
|
Post by baldpate on Nov 30, 2016 9:42:41 GMT
... With the downturn in Oil & Gas activity there are yards in Aberdeen chappit full of containers all doing nothing but rusting. Good point, @magenta14 !
|
|
fp
Posts: 1,008
Likes: 853
|
Post by fp on Dec 2, 2016 21:34:36 GMT
Containers for storage let out for around £15 to £20 per week for storage based on past knowledge, and its big business, the borrower appears to be in this line of business and possibly grossing £1000 PA on each one, by the end of the year they will be paid for.
Roughly working on 18%, interest equates to £2.25 per week, the only worry is that they are mobile and without details on the borrower there is no way to check out their credibility and background.
I would be more comfortable with this loan than one which has gone south elsewhere.
|
|