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Post by overthehill on Apr 30, 2023 20:43:52 GMT
For absolutely no particular reason all the 5 year exit properties' updates have been pushed back 15 days to the 15 May. But there is another mortgage bond being released 4 days prior to that !!
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Post by c0nfuzed on May 2, 2023 15:13:28 GMT
Is that because that's when the vote to hold/sell closes? Two of mine close on the 16th May. As an aside, they're practically begging me to keep hold of them - 5% dividend with minimal rental vacancies on one of the student blocks apparently. Then why is it worth 80% of the price we paid for it in 2017?? It's a stitch up.
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Post by overthehill on May 3, 2023 12:52:30 GMT
Is that because that's when the vote to hold/sell closes? Two of mine close on the 16th May. As an aside, they're practically begging me to keep hold of them - 5% dividend with minimal rental vacancies on one of the student blocks apparently. Then why is it worth 80% of the price we paid for it in 2017?? It's a stitch up. No. The delayed updates are for every active 5 year exit property, some of which commenced years ago. I would hope investors already have the latest updates for the current batch of 5 year exit properties to aid their decision !
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Post by overthehill on May 15, 2023 14:34:28 GMT
15 May 10.00am has passed and gone but the mortgage bonds were punctual! Good luck to all investors who are putting new money in and not selling out.
2 May 5-year anniversary processes: voting commences
Dutch Quarter II Mortgage Bond: details announced 4 May 10.00am LHX Exchange reopens for trading 9 May 11.00am Dutch Quarter II Mortgage Bond: open to Dutch Quarter II shareholders 11 May 11.00am Dutch Quarter II Mortgage Bond: open to all suitable investors 15 May 10.00am 5-year anniversary properties (those already voted for sale) information updated 16 May 11.00am Dutch Quarter II Mortgage Bond funding period ends 5-year anniversary processes: votes end, block-listings commence 30 May 11.00am 5-year anniversary processes: block-listings close 31 May May activity update published
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Post by overthehill on Jun 2, 2023 12:01:21 GMT
A 65 unit student property failed its 5 year exit process and is being sold off unit by unit, what, oooook. One of the few properties to actually have any dividend as well !
I've yet to get funds back for any multi-unit, only single houses. I have a 4 unit property which had its 5 year exit in june 2021 and there is still one unit to sell !
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Post by c0nfuzed on Jun 6, 2023 15:05:43 GMT
A 65 unit student property failed its 5 year exit process and is being sold off unit by unit, what, oooook. One of the few properties to actually have any dividend as well !
I've yet to get funds back for any multi-unit, only single houses. I have a 4 unit property which had its 5 year exit in june 2021 and there is still one unit to sell !
Oh man! How is that possibly going to work?!
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Post by scepticalinvestor on Jun 7, 2023 8:26:10 GMT
A 65 unit student property failed its 5 year exit process and is being sold off unit by unit, what, oooook. One of the few properties to actually have any dividend as well !
I've yet to get funds back for any multi-unit, only single houses. I have a 4 unit property which had its 5 year exit in june 2021 and there is still one unit to sell !
More fees for PP for longer while it drags on, what's not to like!
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Post by greatboo on Jun 7, 2023 16:34:11 GMT
A 65 unit student property failed its 5 year exit process and is being sold off unit by unit, what, oooook. One of the few properties to actually have any dividend as well !
My understanding was that student properties would be sold as a block for investment as there isn't really a market for single units. Where are you seeing "unit by unit" sale on that property?
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Post by overthehill on Jun 7, 2023 18:14:33 GMT
A 65 unit student property failed its 5 year exit process and is being sold off unit by unit, what, oooook. One of the few properties to actually have any dividend as well !
My understanding was that student properties would be sold as a block for investment as there isn't really a market for single units. Where are you seeing "unit by unit" sale on that property? It says it in the email dated 1 jun but probably a mistake as it's listed with non-student properties, I think you're right.
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Post by scepticalinvestor on Jul 3, 2023 15:32:06 GMT
PP news - CEO Warren Bath has left the business, new CEO TBC. Will be interesting to see how the new head-honcho takes this forward..... In other news, by the time the properties sell, god only knows what'll be left for the equity holders once the mortgage bond-holders are paid out! I'm regretting not piling into these bonds, would probably go some way towards balancing out losses on the equity side when it comes to the bitter end. Attachments:
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Post by epicfail on Jul 15, 2023 19:26:16 GMT
PP news - CEO Warren Bath has left the business, new CEO TBC. Will be interesting to see how the new head-honcho takes this forward..... In other news, by the time the properties sell, god only knows what'll be left for the equity holders once the mortgage bond-holders are paid out! I'm regretting not piling into these bonds, would probably go some way towards balancing out losses on the equity side when it comes to the bitter end. The bonds look like a great investment if you're willing to trust that PP will not find some way to screw you over if you invest in them...
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Post by overthehill on Jul 16, 2023 9:37:16 GMT
Don't see any negatives in the mortgage bonds and definitely not relative to the equity holders.
The more you read about the woes, hitches, snags of the legacy properties (transparency is good) you realise the ex-property director is in the overrated and overpaid bag.
I'm not participating (investing more money) in mortgage bonds or any other product until I get my outstanding equity proceeds back. I think a lot of people were fooled by the 5-year exit process realities, the documentation still says that the anticipated sale time of properties is 3-4 month which is obviously ludicrous for multi-unit properties but probably refers to the original intent to sell multi-units in a single transaction. I believe there still hasn't been a completed multi-unit sale even after this length of time.
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beh
Member of DD Central
Posts: 174
Likes: 76
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Post by beh on Jul 16, 2023 10:16:08 GMT
It's been a while since I've looked that closely but seems like a couple of mine that were at the 5 year exit just over 2 years ago might be nearing the end. Each with the last remaining unit apparently under offer/STC (one with 4 units in total and the other 8). In the last 12 months I've only had capital repaid from 1 sale. That was just a house and seemingly took about 14 months from the shareholder vote to the money appearing in my account.
I suspect if they'd had some good money flowing in from sales a while ago it might have inspired a bit more confidence in the platform.
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Post by overthehill on Aug 8, 2023 16:49:28 GMT
Due to Better selling properties one unit at a time, once the mortgage is paid off there will be a shed load of cash sitting in bank accounts waiting for the last unit to be sold possibly years later. There is 900k of cash in one of my properties.
I can't see any mention of bank interest in their share valuation or income breakdowns. Is it implied or is it being syphoned off by Better ?
They should at the very least be paying out all the lost dividends while investors wait years for their capital back.
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Post by overthehill on Aug 14, 2023 13:37:41 GMT
Failing to fund 5-year exit 60 studio property is to be sold on a unit by unit basis apparently. Mark your diary for 2083.
Has a new type of property transaction been invented or is this realistic already?
I doubt many original investors intentionally signed up for this. Not sure if this is one of the few properties with a non-zero dividend.
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