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PM SPV 50
Jan 16, 2018 15:19:49 GMT
via mobile
Post by propertycalf on Jan 16, 2018 15:19:49 GMT
Haha thank you
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Post by propertycalf on Jan 18, 2018 11:02:57 GMT
I have done some calculations yesterday and the majority of my investments are producing a combined yield of around 5%
My gripe is with the way in which these loans from property moose have been handled.
If I was unfortunate enough to have put 100% of my investment into some of these spv's that have been sentenced to no return, I would likely be seeking legal advice.
As its been mentioned on this forum before, it is such a serious situation. I want to see receipts of completed work and justifications of the work completed.
There should be a function, where documents of council tax invoices and receipts from contractors for repairs etc are visible to investors (the owners)
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jnm21
Posts: 441 
Likes: 167
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Post by jnm21 on Jan 31, 2018 20:38:15 GMT
That's a bit cheeky (to say the least) seeing as the month they actually found a tenant they said dividend next month. Next month came and there was no dividend because something like tenant finders fee ate all the rent, but dividend would pay out next month. Then next month came and the update was 'by the way the SPV owes us a few grand so don't expect any money'. All paraphrasing of course. I would be mighty angry If I had bought shares based on 'dividend next month' only to find there won't be any dividends for many months when PM would have known there was a debt to PM on the SPV and they had not disclosed it. That is exactly my point.. Am I being unreasonable by saying I have been mislead by these mixed messages? I actually increased my holding based on the information that was available at the time I was in exactly the same position with the Liverpool one (SPV81?) - thankfully it was small amounts & that was not knowing rent running late, but exactly the same principle; making poor investments based on incomplete information from PM.
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