kaya
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Post by kaya on Dec 21, 2016 10:22:51 GMT
I think there is room in the market for Collateral to offer good property deals. What think ye of these?
1)Bridging Loan, HMO Property Loan £78,500 Value £120,000 LTV 65.42% 6months
2)Bridging Loan, Farm Property Loan £172,000 Value £250,000 LTV 68.8% 6 months
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Post by richardthe4th on Dec 21, 2016 10:27:27 GMT
The farm with the M62 running through it might prove difficult to shift, although the price reflects that I imagine...
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pom
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Post by pom on Dec 21, 2016 13:22:53 GMT
I'm certainly not going to rush in, they're big loans on a young platform, and until they fill they'll be illiquid (unless they've changed the way the SM works when I wasn't looking). The farm may have been valued to suit it's likely lack of popularity but that still doesn't mean there'll necessarily be anyone who wants it at all. And I've gone off HMOs..
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11025
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Post by 11025 on Dec 21, 2016 14:25:11 GMT
Woodview road looks most interesting , I too am not a massive hmo fan but I think this is better than most - looks pretty nicely done , good rental yield for the landlord of 17% taken at 120K valuation or 26% at £78.5k 
Granted it is not the prettiest but looks like good value
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Post by pedz14 on Dec 21, 2016 16:25:27 GMT
The HMO looks a decent enough proposition so I think I'll try for a bit of that.
On the other hand I'm not feeling it for the farm. If the current intended buyer should pull out of the agreed sale then it could be sometime before another comes along. On that basis I'm going to give it a miss.
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kaya
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Post by kaya on Dec 21, 2016 17:11:56 GMT
I am of the same opinion, quite like the look of the HMO loan. The good news is that the farm loan goes first, so everyone will be able to see how that goes, before committing bids to the other one.
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littonowl
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Post by littonowl on Dec 21, 2016 17:23:53 GMT
Nothing much to add to what's already been said, but I'll also be going for the HMO. The VR report used the yields and sale prices of other properties in the same area (Beeston) to estimate the market value, so logically it should be a reasonably reliable valuation...
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romy
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Post by romy on Dec 21, 2016 20:26:11 GMT
With the HMO one I don't understand why most of the comparables the VR quoted were selling for about £80k but this one is valued at £120k. Similarly looking on Rightmove round there 70-80k seems more typical and those are with the property completely done up not half converted.
The phrasing of the valuation about planning permission also seemed rather vague and unsettling. There didn't appear to be recent planning permission for conversion to flats,only an old one which must be out of time.
R
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11025
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Post by 11025 on Dec 22, 2016 9:08:20 GMT
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kaya
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Post by kaya on Dec 22, 2016 9:20:49 GMT
I think Collateral will be confidant that both these deals are solid & sound, as they really could not afford a problem at this stage, far less a default.
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ben
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Post by ben on Dec 22, 2016 20:30:23 GMT
Not exactly flying off the self this one. £50,000 gone so far with a bid limit of £10,000, which compared with some of the pawn group items which have been £50,000-£70,000 with a bid limit of £300 have gone with in an hour.
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Post by richyp on Dec 23, 2016 9:04:32 GMT
Not exactly flying off the self this one. £50,000 gone so far with a bid limit of £10,000, which compared with some of the pawn group items which have been £50,000-£70,000 with a bid limit of £300 have gone with in an hour. That makes perfect sense then. Probably the same number of people invested £300 each and don't want to invest anymore. There is a lot more risk associated with these property loans than the usual ones. I think these larger loans will take a bit of getting used to and will take a lot longer to go. Most of the bigger investors go to Saving Stream etc for these. Once word gets out that Collateral are doing them I'm sure they might start taking a look over here and will shift a bit faster but on the whole the Collateral platform is for the smaller investor who wants to drip feed funds into a lot of different loans rather than the big bang approach. Personally I'm splitting my funding between both properties - I think the second one going live today might go a bit quicker.
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dermot
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Post by dermot on Dec 23, 2016 9:15:05 GMT
Not exactly flying off the self this one. £50,000 gone so far with a bid limit of £10,000, which compared with some of the pawn group items which have been £50,000-£70,000 with a bid limit of £300 have gone with in an hour. That makes perfect sense then. Probably the same number of people invested £300 each and don't want to invest anymore. There is a lot more risk associated with these property loans than the usual ones. I think these larger loans will take a bit of getting used to and will take a lot longer to go. Most of the bigger investors go to Saving Stream etc for these. Once word gets out that Collateral are doing them I'm sure they might start taking a look over here and will shift a bit faster but on the whole the Collateral platform is for the smaller investor who wants to drip feed funds into a lot of different loans rather than the big bang approach. Personally I'm splitting my funding between both properties - I think the second one going live today might go a bit quicker. My thoughts too - each has risk, but I think a different *type* of risk, so there is some diversity to be gained going into both.
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kaya
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Post by kaya on Dec 23, 2016 9:34:45 GMT
Seems to have been some dodgy skip hire (waste disposal) business connected to this land at one time, but that may be irrelevant now - especially as it's looking like this loan has no chance of filling. Presumably Collateral have confidence that a buyer is lined up for this grim looking place.
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littonowl
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Post by littonowl on Dec 23, 2016 11:13:00 GMT
Relatively speaking, and perhaps as expected from comments on here, the HMO property is flying off the shelves...54% gone in the first 10 mins...
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