ton27
Member of DD Central
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Post by ton27 on Dec 3, 2020 15:00:23 GMT
As an investor on the PropertyCrowd platform I have recently received an email from Brickowner inviting me to invest on their platform. I have had no experience of Brickowner and know nothing about them - which is why I am asking for other peoples views/experience of using them. Thanks.
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benaj
Member of DD Central
N/A
Posts: 5,610
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Post by benaj on Dec 3, 2020 15:20:03 GMT
Have you checked the reviews on trust pilot? I am not saying you should rely on those reviews, but at least it gives you *SOME* indication of how these platforms are performing?
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Post by Ace on Dec 3, 2020 15:48:24 GMT
I'm in 7 deals on Brickowner. It tends to be a higher risk/return type platform as many deals have an element of equity investment. I'm happy enough with how the platform keeps me informed and how they respond to questions. A couple of my deals are running late. One of these is well beyond its originally forecast end date, but this is to be expected with these types of investment, especially so in the current conditions. It's still too early for me to have any idea of actual returns as none of my deals have concluded yet. I'm still investing my standard amount in most new deals.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,329
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Post by ilmoro on Dec 3, 2020 20:04:53 GMT
Big thing to understand is that Brickowner is an AIF and is not authorised or regulated by the FCA anymore - previously was an AR of Gallium
That said I am invested in several deals and had two redeem without issue. Most deals are capital growth rather than interest and multi year. No SM currently though one due to launch imminently (has been for a while)
Cash held in e-wallet so not FSCS protected AIUI
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Post by Ace on Jan 21, 2021 19:55:53 GMT
Brickowner's SM is due to go live on 1 St Feb.
It's a welcome addition to the platform as a way to increase liquidity when needed, but it strikes me that the seller gets a fairly rough deal, so would only use it in an emergency. Most of the gains in their deals come at loan completion, when any increase in equity is realised. Sellers will have to transfer this entitlement to the buyer, though they do get to keep any income received to date of sale. The seller also pays a 2% transaction fee. The buyer only pays 0.5% stamp duty.
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Post by Ace on May 1, 2021 18:58:25 GMT
Updates as of 30/4/2021 are now available for most properties on Brickowner.
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