kulerucket
Member of DD Central
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Post by kulerucket on Nov 12, 2017 15:44:52 GMT
So, I made the decision that I've had enough and starting listing everything for sale. I set all prices a little below the lowest available shares and waited a week. Nothing. I checked all of them and reduced those where I've been undercut. Still nothing. This is going to be harder than I thought!
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ben
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Post by ben on Nov 12, 2017 16:21:34 GMT
if you want to sell out you will probably have to sell at a loss , not sure why anybody would buy at a premium when very few properties are getting the returns expected, which is what the majority on the secondary market is.
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hazellend
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Post by hazellend on Nov 12, 2017 20:20:45 GMT
I have been considering selling everything at a 20% discount to my buy in but can’t face the pain of even that failing. Hopefully 2-3 years should see me free (at a loss)
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Post by propertycalf on Nov 12, 2017 20:32:47 GMT
I'm going to stick with it.. Other than the worries of SPV81, the rest of my holdings have returned about what I expected.. Illiquidity was always going to be a problem..
If the shares are selling for cheap face value, much more likely to sell quicker!
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carolus
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Post by carolus on Nov 12, 2017 22:01:14 GMT
I have been considering selling everything at a 20% discount to my buy in but can’t face the pain of even that failing. Hopefully 2-3 years should see me free (at a loss) I think that sort of really steep discounting would see you sell out pretty quickly. I've been slowly selling out without needing anything like that sort of discount, now <50% of my peak after I made the deccision a month and a half or so ago (and that with basically listing things piecemeal). Honestly, unless you bought at a huge premium, I'd be tempted to start buying back in if you were offering 20% discounts!
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littleoldlady
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Running down all platforms due to age
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Post by littleoldlady on Nov 12, 2017 22:21:34 GMT
It's hard and slow to get out. Take SPV10. Valuation is £553.73 on planet PM, but down here on Earth is not selling at £494. I have managed to sell some but I am finding that mostly I have to wait until the end of term and then because the majority vote to hold I have to accept whatever derisory amount PM deign to give - but at least I am out.
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hazellend
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Post by hazellend on Nov 12, 2017 22:51:12 GMT
I have been considering selling everything at a 20% discount to my buy in but can’t face the pain of even that failing. Hopefully 2-3 years should see me free (at a loss) I think that sort of really steep discounting would see you sell out pretty quickly. I've been slowly selling out without needing anything like that sort of discount, now <50% of my peak after I made the deccision a month and a half or so ago (and that with basically listing things piecemeal). Honestly, unless you bought at a huge premium, I'd be tempted to start buying back in if you were offering 20% discounts! Apart from SPV81 all my properties are old style £500/share. Do you think that will matter?
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carolus
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Post by carolus on Nov 13, 2017 0:53:13 GMT
I think that sort of really steep discounting would see you sell out pretty quickly. I've been slowly selling out without needing anything like that sort of discount, now <50% of my peak after I made the deccision a month and a half or so ago (and that with basically listing things piecemeal). Honestly, unless you bought at a huge premium, I'd be tempted to start buying back in if you were offering 20% discounts! Apart from SPV81 all my properties are old style £500/share. Do you think that will matter? Ahhh, sorry, yes I joined after the switch to £10 shares, and don't have any of the old style. Unfortunately I forgot when I made my previous post that that might be an issue. I don't really have as much understanding of how well the sm functions for those ones, but looking at it, a 15-20% discount still seems pretty generous on a lot of them.
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hazellend
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Post by hazellend on Nov 13, 2017 6:49:30 GMT
Apart from SPV81 all my properties are old style £500/share. Do you think that will matter? Ahhh, sorry, yes I joined after the switch to £10 shares, and don't have any of the old style. Unfortunately I forgot when I made my previous post that that might be an issue. I don't really have as much understanding of how well the sm functions for those ones, but looking at it, a 15-20% discount still seems pretty generous on a lot of them. It’s not that the properties are any worse than the newer ones. It’s just less liquid because of the higher price per share. I think PM should switch all the older ones to 10/share.
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carolus
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Post by carolus on Nov 13, 2017 9:08:38 GMT
It’s not that the properties are any worse than the newer ones. It’s just less liquid because of the higher price per share. I think PM should switch all the older ones to 10/share. Yep, didn't mean to suggest the properties are wrose, but I can imagine the appetite for £500 shares on a platform with these problems isn't great. I've wondered myself why the don't simply split each of those shares into 50. I can only assume it's one of so many baffling decisioms on the platform. My guess is that there are administrative costs involved that they dom't want to deal with and it's easier for them to just ignore it for a couple of years and roll over into new spvs on renewal.
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Post by sayyestocress on Nov 13, 2017 10:16:35 GMT
I've wondered myself why the don't simply split each of those shares I've wondered that myself. I'm pretty well diversified throughout PM's offerings except for the £500 share properties, simply because I don't want to have that much in any one property. Roughly half my holdings came through the secondary market at discount to the original share price.
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hazellend
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Post by hazellend on Nov 13, 2017 11:44:20 GMT
If you were to score your own sense of (financial?) vulnerability here on Property Moose 1 to 10 with 10 being 'high' what would it be? Put it this way, if somebody offered to buy my PM portfolio off me for a 20% discount to my buy in price I would take it, and that would mean a 10k loss lol.
It looked so good when they started, PP has been so much better and professional.
PM claim to curate their properties and to have an experienced property team but outcomes so far suggest their property pickers are not even up to novice common sense level. I know that says a lot about me as well, but I did have some faith in them to start with.
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Post by Deleted on Nov 13, 2017 11:57:57 GMT
If you were to score your own sense of (financial?) vulnerability here on Property Moose 1 to 10 with 10 being 'high' what would it be? Put it this way, if somebody offered to buy my PM portfolio off me for a 20% discount to my buy in price I would take it, and that would mean a 10k loss lol.
It looked so good when they started, PP has been so much better and professional.
PM claim to curate their properties and to have an experienced property team but outcomes so far suggest their property pickers are not even up to novice common sense level. I know that says a lot about me as well, but I did have some faith in them to start with.
Correct if I am wrong, but do you therefore have £50k with PM? I wouldn't say that my experience has been terrible with PM but based on what I've read here along with PM not having sold almost anything, as well as the low occupancy of certain properties, as well as the lower than stated expected yields... yea, I'm a bit worried. I wish I'd joined up with PP from what I read.
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Steerpike
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Post by Steerpike on Nov 13, 2017 12:21:25 GMT
If you were to score your own sense of (financial?) vulnerability here on Property Moose 1 to 10 with 10 being 'high' what would it be? Put it this way, if somebody offered to buy my PM portfolio off me for a 20% discount to my buy in price I would take it, and that would mean a 10k loss lol.
It looked so good when they started, PP has been so much better and professional.
PM claim to curate their properties and to have an experienced property team but outcomes so far suggest their property pickers are not even up to novice common sense level. I know that says a lot about me as well, but I did have some faith in them to start with.
Most offers for sale seem to be just above or just below par, I don't see any at anything like 20% discount, have you tried listing at that price?
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littleoldlady
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Running down all platforms due to age
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Post by littleoldlady on Nov 13, 2017 12:45:17 GMT
Put it this way, if somebody offered to buy my PM portfolio off me for a 20% discount to my buy in price I would take it, and that would mean a 10k loss lol.
It looked so good when they started, PP has been so much better and professional.
PM claim to curate their properties and to have an experienced property team but outcomes so far suggest their property pickers are not even up to novice common sense level. I know that says a lot about me as well, but I did have some faith in them to start with.
Most offers for sale seem to be just above or just below par, I don't see any at anything like 20% discount, have you tried listing at that price? I sold a £500 share in SPV 24 for £400, when PM were valuing it at >£500, but I see that they now value it at £397.73, so it was not a bargain for the buyer.
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