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Post by pauliee on Apr 26, 2022 8:32:12 GMT
Someone smarter than me might have figured this out already, but thought it worth sharing that if you top up your Kuflink wallet via debit card, you may benefit from any cashback that card offers. Certainly I used my new Chase Bank account to top-up this week and got 1% cashback on the deposit. Effectively it adds 1% to your return (or to put it another way effectively a Tier 3 return for a Tier 1 risk) Is there anything to stop you repeatedly withdrawing the funds and re-depositing multiple times? š¤ Asking for a friend as I don't have a chase card. Someone may try revolut - they always had an odd Merchant code, as revolut is a bank you can churn the same money easily Not difficult and not illegal, though it can look like Money laundering There's a term for it - Manufactured Spend Worst that happens is they tell you to stop
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benaj
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Post by benaj on Apr 26, 2022 17:27:33 GMT
Is there anything to stop you repeatedly withdrawing the funds and re-depositing multiple times? š¤ Asking for a friend as I don't have a chase card. Someone may try revolut - they always had an odd Merchant code, as revolut is a bank you can churn the same money easily Not difficult and not illegal, though it can look like Money laundering There's a term for it - Manufactured Spend Worst that happens is they tell you to stop š§ Is Revolut really a bank? Whatās protected? Revolut Ltd (FRN:900562) Personal or sole trader Ā£85,000.00 Money protected for you Ā£0.00 Money at risk Ā£85,000.00 Rev canāt produce any tax statements for their special āvaultsā. š¤£
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Post by pauliee on Apr 26, 2022 18:39:47 GMT
Someone may try revolut - they always had an odd Merchant code, as revolut is a bank you can churn the same money easily Not difficult and not illegal, though it can look like Money laundering There's a term for it - Manufactured Spend Worst that happens is they tell you to stop š§ Is Revolut really a bank? Whatās protected? Revolut Ltd (FRN:900562) Personal or sole trader Ā£85,000.00 Money protected for you Ā£0.00 Money at risk Ā£85,000.00 Rev canāt produce any tax statements for their special āvaultsā. š¤£ Thanks for your input.Anyway you can turn your money around quicker than funding a kuflink "investment" account and then waiting for their interminable questioning to return your funds, rather than 30 seconds in a "bank".
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benaj
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Post by benaj on Apr 26, 2022 19:15:05 GMT
š
My experience with the officer in Rev wasnāt great. Too many questions asked, been told not to top up again with another ādebitā card.
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jcb208
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Post by jcb208 on May 14, 2022 9:52:45 GMT
Getting hard to invest in quality loans now latest offering second charge 75% LTV not for me
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upland
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Post by upland on May 14, 2022 12:24:06 GMT
Getting hard to invest in quality loans now latest offering second charge 75% LTV not for me Agree , I let it go and will avoid ones like it.
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Post by pauliee on May 19, 2022 17:22:26 GMT
Looks like now funding legal weed factory. Happy to fund one but, I would require more return than what is on offer.
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p2pfan
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Post by p2pfan on May 19, 2022 18:00:55 GMT
Looks like now funding legal weed factory. Happy to fund one but, I would require more return than what is on offer. The valuation is odd. For instance, they put a value of Ā£1.05m on the new laboratory. Plus many hundreds of thousands value added for additional laboratory plus office space etc. The only currently liveable part, the cottage, has been given a value of a mere Ā£375k. This is a building in the far south-west of England, in an extremely rural location. Therefore, the chances of any buyer needing state-of-the-art laboratory and office space in such a location are very, very slim. It'll be like trying to sell a brewery in Saudi Arabia. Therefore this eye-watering valuation of Ā£2.6 million is way out of line with what any buyer will be willing to pay.
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tallsuk
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Post by tallsuk on May 19, 2022 19:03:39 GMT
I think what is key here is that the licence stays with the property not the owner. The goverment is coming under huge amounts of pressure to provide legal THC to a small number of people who use it for genuine medical reasons.
I assume the location is for security reasons and therefore I think that there would be no shortage of people willing to take on something like this primarily because they would be in an excellent position if THC is more widely prescribed for a wider number of conditions let alone what happens when weed is finally legalised.
If this was a property development loan then it would be great value, 6.7% for 18.46% LTV. I think this is far lower risk than development and the reason the returns are so good is that banks dont want to be involved with this sort of thing for reputational reasons.
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Post by pauliee on May 19, 2022 20:06:43 GMT
I agree the valuation seems to be derived from a laboratory and a license that is associated to it.
What I don't see is why the UK feels it needs to do this here. Plenty of legal production in Europe and North America. A simple law change in the next 2 years and this valuation evaporates.
Not for me this one.
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rocky1
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Post by rocky1 on May 20, 2022 4:59:22 GMT
plenty of legal production here also. the UK are the largest producers/exporters of medicinal cannabis in the world. in 2019 over 320 tonnes of the stuff with 75% exported all over the world.pablo has got nothing on our government. we have the most advanced labs and science for growing high yield plants that are low in THC the part of the plant that causes the problems we have with the smuggling and dealing and the rest of the stuff that comes with it. high CBD purity is the stuff that is in such demand by the medical people all over the world.never much said about this by the government but a very lucrative and highly profitable business going on here right in plain sight.
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Post by overthehill on May 20, 2022 10:01:39 GMT
plenty of legal production here also. the UK are the largest producers/exporters of medicinal cannabis in the world. in 2019 over 320 tonnes of the stuff with 75% exported all over the world.pablo has got nothing on our government. we have the most advanced labs and science for growing high yield plants that are low in THC the part of the plant that causes the problems we have with the smuggling and dealing and the rest of the stuff that comes with it. high CBD purity is the stuff that is in such demand by the medical people all over the world.never much said about this by the government but a very lucrative and highly profitable business going on here right in plain sight.
I don't know if the valuations are too optimistic as we don't know how much has been spent , or do we ? The low LTV provides some insurance against valuations of unique propositions like this one. I checked the long term flooding forecasts, no problems !
Cannabis has a lot of potential, until now research has only been on about 4 or 5 constituents. There are over 100 compounds in cannabis of which very little is known and therefore consuming it has plenty of risks. There is a good simplified bbc naked scientist podcast in the archive.
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rocky1
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Post by rocky1 on May 20, 2022 10:57:04 GMT
a bit of googling of the valuation address shows this set up is all about organic farming and industrial hemp to improve soil structure .also various latest valuations.
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Post by uksoul on May 20, 2022 11:36:52 GMT
plenty of legal production here also. the UK are the largest producers/exporters of medicinal cannabis in the world. in 2019 over 320 tonnes of the stuff with 75% exported all over the world.pablo has got nothing on our government. we have the most advanced labs and science for growing high yield plants that are low in THC the part of the plant that causes the problems we have with the smuggling and dealing and the rest of the stuff that comes with it. high CBD purity is the stuff that is in such demand by the medical people all over the world.never much said about this by the government but a very lucrative and highly profitable business going on here right in plain sight.
I don't know if the valuations are too optimistic as we don't know how much has been spent , or do we ? The low LTV provides some insurance against valuations of unique propositions like this one. I checked the long term flooding forecasts, no problems !
Cannabis has a lot of potential, until now research has only been on about 4 or 5 constituents. There are over 100 compounds in cannabis of which very little is known and therefore consuming it has plenty of risks. There is a good simplified bbc naked scientist podcast in the archive.
Agreed on the LTV being a plus. Large scale trials on using Cannabis for pain relief within the NHS/UK private medical centres are taking place in 2022. In the US many are making huge financial gains via CBD products.
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Post by uksoul on May 20, 2022 11:47:44 GMT
a bit of googling of the valuation address shows this set up is all about organic farming and industrial hemp to improve soil structure .also various latest valuations. You are correct, it is an organic farming business as well as offering plant based oil products for massage, pain relief, stress etc.
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