mikes1531
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Post by mikes1531 on Sept 24, 2017 1:53:06 GMT
I had a loan repay recently, and I was looking for a place to redeploy the proceeds. The Chesham Development loan (#392) seemed like a reasonable candidate, so I entered an investment instruction. There was none of that loan available on the SM at the time, so I figured I'd end up building a position slowly. I was surprised, however, to find my instruction filled pretty quickly. I later entered another buy instruction, and it also was filled pretty quickly. Subsequent purchase instructions have had similar results.
I can see this is a big loan, but the speed of my investing in it has surprised me. So now I'm wondering whether I've failed to notice some undesirable feature of this loan that is causing more people to sell than might be expected.
Have I missed something?
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SteveT
Member of DD Central
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Post by SteveT on Sept 24, 2017 6:33:09 GMT
I had a loan repay recently, and I was looking for a place to redeploy the proceeds. The Chesham Development loan (#392) seemed like a reasonable candidate, so I entered an investment instruction. There was none of that loan available on the SM at the time, so I figured I'd end up building a position slowly. I was surprised, however, to find my instruction filled pretty quickly. I later entered another buy instruction, and it also was filled pretty quickly. Subsequent purchase instructions have had similar results. I can see this is a big loan, but the speed of my investing in it has surprised me. So now I'm wondering whether I've failed to notice some undesirable feature of this loan that is causing more people to sell than might be expected. Have I missed something? Further development tranches are being drawn down every few weeks (see the "Activity" tab on #392)
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mikes1531
Member of DD Central
Posts: 6,453
Likes: 2,320
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Post by mikes1531 on Sept 25, 2017 2:46:57 GMT
Further development tranches are being drawn down every few weeks (see the "Activity" tab on #392) The most recent one of those was a week ago, and the loan is now 99.6% drawn down, so the borrower effectively already has all he's going to get. The most recent progress report seems to indicate the project is just about complete. Hopefully that's right, because otherwise the developer could have difficulty finding the cash to finish the project. The flats appear to be being offered for sale already, but they are 'POA' so maybe they're not actually ready to be sold yet..
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