r1200gs
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Post by r1200gs on Feb 22, 2017 6:58:36 GMT
I had breakfast in the café, and pretty good too. I also met one of the new owners of the garden center, one of five it seems. The thing that struck me was how run down and dilapidated the place was, something the new owners were already hard at work putting right. It really has gone downhill and fast. The second thing that struck me was that buying dilapidated property is a great way to make money. I asked the café owners if there had been any effort to keep the place in good condition, and the answer was no. The new owners are very pleased indeed with their new purchase.
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fp
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Post by fp on Feb 22, 2017 7:30:33 GMT
I had breakfast in the café, and pretty good too. I also met one of the new owners of the garden center, one of five it seems. The thing that struck me was how run down and dilapidated the place was, something the new owners were already hard at work putting right. It really has gone downhill and fast. The second thing that struck me was that buying dilapidated property is a great way to make money. I asked the café owners if there had been any effort to keep the place in good condition, and the answer was no. The new owners are very pleased indeed with their new purchase. It sounds like they picked up a bargain.....
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GeorgeT
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Post by GeorgeT on Feb 22, 2017 10:15:55 GMT
Yes indeed I looked at the guide prices and all of that and I'd be surprised if it's sold for much more than £1.0 - £1.2 million.
With a little bit of TLC and good management it's in a good location for a garden centre and I wish the new owners the best of luck in their new venture and I thank them for stepping into the breach and ensuring that investors in the loan did not have to suffer a total loss or have their money frozen indefinitely because nobody came forward.
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Post by GSV3MIaC on Feb 22, 2017 10:24:25 GMT
I wonder if it was dilapidated because it was supposed to turn into a building site (a year or so ago)?
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r1200gs
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Post by r1200gs on Feb 22, 2017 10:35:23 GMT
I wonder if it was dilapidated because it was supposed to turn into a building site (a year or so ago)? I have no idea, but it's condition certainly did nothing for the selling price as a garden centre.
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Feb 22, 2017 12:05:02 GMT
I think GSV3MIaC has it spot on If you have a look at the comments from the borrower on the PP site (many have been removed, some still there) it is fairly clear that they were less concerned about the garden centre, and more interested in their proposed development. They had a 100% loan, so had little to loose. When it went pear shape and looking at the vocal disagreements he had with the locals, I'm of the opinion he wiped his hands of the site and was all too happy to hand it over to SS. |
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Post by dualinvestor on Feb 25, 2017 9:03:29 GMT
I assume, having found the agent's news item (not yet indexed by Google), that we don't as yet know the price achieved. Nothing Yet - I doubt the agents will reveal the sale price; the first news of this will be via SS ( unless an ADMIN report is published before then...) Rather hope not, the next regular one is not due until May 
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elliotn
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Post by elliotn on Feb 28, 2017 6:19:00 GMT
Another key April First deadline.
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Jeepers
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Post by Jeepers on Feb 28, 2017 11:12:07 GMT
Another key April First deadline. [br Thankfully, I won't be a fool waiting for this to repay 😁
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geoff
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Post by geoff on Feb 28, 2017 11:55:09 GMT
Another key April First deadline. [br Thankfully, I won't be a fool waiting for this to repay 😁 Are you suggesting that those still holding an investment in this loan are fools?
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r1200gs
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Post by r1200gs on Feb 28, 2017 12:33:04 GMT
[br Thankfully, I won't be a fool waiting for this to repay 😁 Are you suggesting that those still holding an investment in this loan are fools? Can't speak for jeepers, but how would you describe the person who recently bough £4070 of this loan, apparently because there was nothing at all left on the main SM? Perhaps they know something we don't? Or perhaps some people need supervised internet access?
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geoff
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Post by geoff on Feb 28, 2017 13:03:43 GMT
Are you suggesting that those still holding an investment in this loan are fools? Can't speak for jeepers, but how would you describe the person who recently bough £4070 of this loan, apparently because there was nothing at all left on the main SM? Perhaps they know something we don't? Or perhaps some people need supervised internet access? Are you serious! Whatever the reasons, there have been a few who have invested since default, including one or two significant sums, but 1100 investors out there are holding £1.7 million of loan parts, including me. Are we all fools? The stench of smug arrogance emanating from this forum sometimes can be quite insufferable.
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r1200gs
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Post by r1200gs on Feb 28, 2017 13:18:41 GMT
Can't speak for jeepers, but how would you describe the person who recently bough £4070 of this loan, apparently because there was nothing at all left on the main SM? Perhaps they know something we don't? Or perhaps some people need supervised internet access? Are you serious! Whatever the reasons, there have been a few who have invested since default, including one or two significant sums, but 1100 investors out there are holding £1.7 million of loan parts, including me. Are we all fools? The stench of smug arrogance emanating from this forum sometimes can be quite insufferable. Well Geoff, I'm sorry you feel that way. However, it's quite clear to me that some people are buying loans who are apparently unaware of the risks they are taking, as could be witnessed by the complete absence of even the most toxic being left on the SM recently. I'm not sure why you would be so confident in buying or holding PBL 20 other than you must have confidence that SS will be keen to uphold their record of no investor having ever lost a penny, but I can assure you that this is not a record that SS will or can maintain.
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geoff
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Post by geoff on Feb 28, 2017 13:30:01 GMT
Are you serious! Whatever the reasons, there have been a few who have invested since default, including one or two significant sums, but 1100 investors out there are holding £1.7 million of loan parts, including me. Are we all fools? The stench of smug arrogance emanating from this forum sometimes can be quite insufferable. Well Geoff, I'm sorry you feel that way. However, it's quite clear to me that some people are buying loans who are apparently unaware of the risks they are taking, as could be witnessed by the complete absence of even the most toxic being left on the SM recently. I'm not sure why you would be so confident in buying or holding PBL 20 other than you must have confidence that SS will be keen to uphold their record of no investor having ever lost a penny, but I can assure you that this is not a record that SS will or can maintain. Have you considered that many, if not most investors in this loan would sell if they could. Unfortunately for obvious reasons this has not been possible for some considerable time. To describe holders of this loan as fools is an unworthy sweeping generalisation.
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r1200gs
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Post by r1200gs on Feb 28, 2017 13:49:48 GMT
Well Geoff, I'm sorry you feel that way. However, it's quite clear to me that some people are buying loans who are apparently unaware of the risks they are taking, as could be witnessed by the complete absence of even the most toxic being left on the SM recently. I'm not sure why you would be so confident in buying or holding PBL 20 other than you must have confidence that SS will be keen to uphold their record of no investor having ever lost a penny, but I can assure you that this is not a record that SS will or can maintain. Have you considered that many, if not most investors in this loan would sell if they could. Unfortunately for obvious reasons this has not been possible for some considerable time. To describe holders of this loan as fools is an unworthy sweeping generalisation. Well, jeepers thinks they are fools, I'll say nothing. I will say that those paying the slightest attention had ample opportunity to off-load this, and all the way back in may 2016, there are posters on this thread expressing astonishment that people were still buying it. What they would make of the £4070 purchase three days back, I have no idea. SS is clearly not for everybody.
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