bigfoot12
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Post by bigfoot12 on Jun 20, 2019 18:05:40 GMT
One of my early investments has just been sold and another is being sold for a loss because the tenant caused damage and the managing agents don't seem to have done much managing, other than taking the fee.
Has anyone seen anything on this? I haven't. I can't see anything on the blog.
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hazellend
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Post by hazellend on Jun 20, 2019 18:21:53 GMT
They ask for a vote on mine. Recently an offer was turned down by the crowd on one of mine (which I wanted to accept)
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Post by queenvictoria on Jun 20, 2019 23:08:02 GMT
One of mine went to a vote and agreed to sell but not heard anything on progress of sale yet (although not an unreasonable delay yet)
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bigfoot12
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Post by bigfoot12 on Jun 21, 2019 6:41:39 GMT
Thanks hazellend and queenvictoria, have either of you received a capital gain? I have two sold properties, one has a significant loss of about 15% and I am suffering a capital loss, but the other has a 15% gain in the underlying house, but I seem to have received only my capital back. There was mention of a further dividend in my only email, but nothing since, but I would rather have a capital gain rather than dividend if the asset has appreciated. Both these properties were in the 40's so no vote needed - though I have long lost faith with HC so not too sorry to be exiting. |
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hazellend
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Post by hazellend on Jun 21, 2019 7:28:59 GMT
I haven’t sold any of my 3 properties yet but if I break even I’ll be delighted
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bigfoot12
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Post by bigfoot12 on Jun 23, 2019 10:37:51 GMT
I haven’t sold any of my 3 properties yet but if I break even I’ll be delighted Is that lack of faith in HC, worries about property prices in the Manchester area, loss of faith in the whole sector? I expect to make gains on some to offset losses on others, but I am concerned that HC are trying to snaffle higher fees on the successful one, whilst keeping the fee on the property that was clearly mismanaged - I think that they should demand a refund from the agent who managed the let.
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hazellend
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Post by hazellend on Jun 23, 2019 10:50:33 GMT
I was also invested with property moose and think THC have invested in similar duds, especially the HMOs
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shimself
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Post by shimself on Jun 23, 2019 11:15:07 GMT
I caught them out telling me one loan had been fully settled when it hadn't. It took two goes before a brain cell clicked on. I'm nerving myself up to do a reconciliation, which won't be easy
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Post by queenvictoria on Jun 23, 2019 14:08:46 GMT
Thanks hazellend and queenvictoria , have either of you received a capital gain? I have two sold properties, one has a significant loss of about 15% and I am suffering a capital loss, but the other has a 15% gain in the underlying house, but I seem to have received only my capital back. There was mention of a further dividend in my only email, but nothing since, but I would rather have a capital gain rather than dividend if the asset has appreciated. Both these properties were in the 40's so no vote needed - though I have long lost faith with HC so not too sorry to be exiting. I've got two HC properties both held since June 2015. In this time dividends have only been paid once giving me an average annual return of 0.6% on one and 0.8% on the other. Both are for sale and an offer has been accepted on one. I would expect both to result in a loss but until sold we won't know. I think the management and maintenance of both properties has proved more difficult and more expensive that forecast hence the low returns.
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bigfoot12
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Post by bigfoot12 on Jun 23, 2019 23:15:01 GMT
I caught them out telling me one loan had been fully settled when it hadn't. It took two goes before a brain cell clicked on. I'm nerving myself up to do a reconciliation, which won't be easy It might be worth listing the properties you are reconciling on here - I am happy to have a go at one ore two of those I am in, which might reduce the individual workload.
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