rogerthat
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Post by rogerthat on Feb 25, 2018 9:59:27 GMT
Funded..well done whoever you were  |
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mikeymike
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Post by mikeymike on Feb 25, 2018 14:41:00 GMT
Honey trap is such a perjorative term. Unlike Fence-sitting which is a far more responsible term -- diplomatically speaking. We all have various issues with all the various platforms and yes steam needs to escape but not so much as to render train stationary. Any Emile Zola / O Winston Link fans out there? From rogerthat: Diplomatically speaking...I think you need to get out moreI can think of 21 reasons why I need to stay in. 
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mikes1531
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Post by mikes1531 on Feb 25, 2018 21:51:26 GMT
Funded..well done whoever you were I think someone came along after my last post and upped their investment from £1k to £9k. And once a loan is 90% full some people will dive in just to make sure they haven't missed out. The Wigan loan has reached that point, though it's a lot bigger, so it will take a bit longer before it's fully funded.
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mikeymike
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Post by mikeymike on Feb 28, 2018 9:55:39 GMT
Funded..well done whoever you were I think someone came along after my last post and upped their investment from £1k to £9k. And once a loan is 90% full some people will dive in just to make sure they haven't missed out. The Wigan loan has reached that point, though it's a lot bigger, so it will take a bit longer before it's fully funded. Wow! people really do that? Although I confess I did experiment splurging a couple of hundred on FC's grades E's for twenty quid a pop and trusting to statistics.
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TheDriver
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Slightly bonkers
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Post by TheDriver on May 30, 2018 18:25:55 GMT
I'm ruminating and pontificating rather than slavering over this one...would be handy to know if any offers have been made for the other three flats  ..btw congratulations on finding this thread despite this loan number not being mentioned anywhere within..how on earth did you manage it ?  I'm learning. You can track progress of the other sales on RM. Look, it'll probably be fine. But, 2 points: a) in the unlikely event that there's something FS aren't telling us or aren't aware of yet (heaven forfend!) then all of the money in that facility hits the wall first, 14% interest and all. See the Formby development for a quite possible sad tale in progress along this line. b) in the quite possible event that the other flats take yonks to to sell (maybe they're not as good as the first 3 for some reason?), then it rather sounds like this guy might be having some cashflow challenges with his various loans. If he doesn't pay interest to renew the other loans, then bear in mind that every penny of the "interest that continues to accrue" on the main facility will be paid before the second facility gets a look in. So presumably 1075531306 Additional loan on this development will be even more precarious, and when I saw I was holding some this morning (among only 10% available to sell) I listed it at max discount before even looking on here! Obviously whoever snapped it up has more confidence in the project than I do. FS noted that the borrower reported half the development sold in February and helpfully upped the valuation to full marketing price to justify this facility, but now they're not even due to exchange until June, and already at a discount.
Having lost faith in the accuracy of FS info, and not being worth doing much individual DD [given my small portfolio], I haven't bought any new releases in the last couple of months. I haven't got time to sit at my keyboard waiting for listings, and anything apparently decent doesn't last long. I now have 50% of my holdings overdue, and 15% uninvested. Having already suffered the Turbine loss, and with several others looking dubious, how much I will get back and how long it will take is open to conjecture.
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..btw congratulations on finding this thread despite this loan number not being mentioned anywhere within..how on earth did you manage it ? 