debeast
(o)(o)
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Post by debeast on May 9, 2014 6:42:39 GMT
Hi there, In order to diversify i've been thinking about the housecrowd for awhile. They have there own sub board here but its pretty lonely in there  Does anyone have any thoughts about it in comparison to the other P2x offerings about? Oh and i'm pretty much betting that the house price bubble will never be allowed to burst but will just solidify but i do know that is a pure gut feeling on my part. Thanks ! /beastie |
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Post by davee39 on May 9, 2014 11:33:34 GMT
The House Crowd has its own section under 'More P2P sites', I have not signed up but lenders seem positive.
As to the 'housing bubble'.
I live in the North East. In 1997 my house was on the market at a modest price (£35k, a weeks wages for some). After a year I gave up, took out a 90% mortgage on my desired property, and rented it out, becoming one of many Rent to move borrowers (We sold to the the tenants 3 years later). Today the bubble has been and gone. Houses can still stand unsold for months and in parts of the North whole streets stand empty. Housecrowd, I believe, are buying houses for £60k to £80k and improving them for rent or re-sale. This is not part of the London centered bubble but the sort of desirable housing regeneration that might well have been publicly funded in the past. At the moment the London press do not appear to have any foreign correspondents based in the North of England, so you only get a parochial picture.
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j
Member of DD Central
Penguins are very misunderstood!
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Post by j on May 9, 2014 14:42:47 GMT
Partly ethical partly financial enterprise. Dipped my toes in a couple of projects recently. THC have bought the houses & are renovating or going through legals. Communication quite good & process easy enough. Have a look at their website which is informative & if you need any further insight, you're very welcome to pm me & I'll endeavor to answer
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debeast
(o)(o)
Posts: 238
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Post by debeast on May 13, 2014 14:50:46 GMT
Thanks for the posts . I hadn't even considered the ethical aspects of regeneration.
So that makes my karma feel a little better. Dipped my toe into Two to see how they go.
Comms so far are nice but we'll see what drawdown time is.
I couldn't see anywhere at what point interest is calculated from ? Anyone know or shall i ask them?
Thanks
/beast
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mikeb
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Post by mikeb on May 13, 2014 18:06:51 GMT
Thanks for the posts . I hadn't even considered the ethical aspects of regeneration. So that makes my karma feel a little better. Dipped my toe into Two to see how they go. Comms so far are nice but we'll see what drawdown time is. I couldn't see anywhere at what point interest is calculated from ? Anyone know or shall i ask them? Thanks /beast Recent change in date calculation means it now depends on the date of completion on the property. It used to be tied to the date the share offer closed. In any case you will receive a notice by email with the interest payment date for your particular projects, and there's a catch-all document (referenced in the weekly update) where you can see the dates for ALL projects. There's an "estimated timeline" in the project docs that you should have already received/read by the time you paid in your cash however, it's subject to change. Edit (snipped down from THC lender email): "We have been analyzing our figures and calculate that the average time between closing a share offer, having an offer accepted, completing on the property purchase, refurbishing it and letting it so it starts to generate income is 14 weeks . "... we have therefore decided we need to alter the Start Date so that it begins 6 weeks from completion of the property purchase." So there's your guide figure.
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debeast
(o)(o)
Posts: 238
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Post by debeast on May 23, 2014 12:35:22 GMT
Thank you  |
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