jnm21
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Post by jnm21 on Mar 27, 2017 22:02:00 GMT
I invested £500 in a property with Property Moose for 2 years. My return for the £500 after 2 years was £518.67. You can make of this as you wish, but the proof is in the end result. Sorry to hear you had such a bad experience. Thanks for the thread drag up - very interesting.
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kaya
Member of DD Central
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Post by kaya on Mar 29, 2017 9:05:29 GMT
I invested £500 in a property with Property Moose for 2 years. My return for the £500 after 2 years was £518.67. You can make of this as you wish, but the proof is in the end result. Did that include rental returns? SPV number?
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Post by cooldad on Apr 1, 2017 23:17:16 GMT
£518.67 was including all dividends and rent. It sounds like you'll be making a loss with your investment, but one thing for sure, Property Moose are playing with your money. For them it's always a win win situation as they take a commission on everything they do.
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ben
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Post by ben on Apr 3, 2017 20:50:32 GMT
£518.67 was including all dividends and rent. It sounds like you'll be making a loss with your investment, but one thing for sure, Property Moose are playing with your money. For them it's always a win win situation as they take a commission on everything they do. Looks like you have been unlucky and are quite negative about it. I am getting about 4.5%, down from about 6% I was getting this time last year. Although I quite like your comment about Property Moose playing with our money and its always a win win for them, what do you think any of the others sites are doing? last time I checked none of them were a charity.
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adrianc
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Post by adrianc on Apr 4, 2017 7:42:38 GMT
£518.67 was including all dividends and rent. It sounds like you'll be making a loss with your investment, but one thing for sure, Property Moose are playing with your money. For them it's always a win win situation as they take a commission on everything they do. Which SPV, cooldad?
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Post by cooldad on Apr 4, 2017 9:23:20 GMT
£518.67 was including all dividends and rent. It sounds like you'll be making a loss with your investment, but one thing for sure, Property Moose are playing with your money. For them it's always a win win situation as they take a commission on everything they do. Looks like you have been unlucky and are quite negative about it. I am getting about 4.5%, down from about 6% I was getting this time last year. Although I quite like your comment about Property Moose playing with our money and its always a win win for them, what do you think any of the others sites are doing? last time I checked none of them were a charity.
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Post by cooldad on Apr 4, 2017 9:29:36 GMT
I understand your comments about 'charity' organisations. All I was saying is that buyers should be aware. 4.5% taking into the risks you are taking. If you shop around in banks/building societies you can get 5%. Santander is giving 5% on their current accounts plus cash back
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ben
Posts: 2,020
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Post by ben on Apr 4, 2017 10:01:58 GMT
I understand your comments about 'charity' organisations. All I was saying is that buyers should be aware. 4.5% taking into the risks you are taking. If you shop around in banks/building societies you can get 5%. Santander is giving 5% on their current accounts plus cash back To get all the top paying accounts you will only be able to save about £30,000 if you are lucky, so what do you do once all those are full? Your post never stated anything about the risk just that you did not get back as much as you wanted. There is always going to be risk and unfortutly people seem to gloss over that.But that is why it is recommended that you invest in a wide range of asssets as over time some perform better the others. But in the case of PM, the idea is to invest in several properties rather then having a BTL yourself. I have about the same in PM as I would with a BTL property and are recieving about 4.5% so whilst not as good as advertised, it is probably about the same as I would get with a BTL and a lot more intersting for me and easier.
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Post by sayyestocress on Apr 4, 2017 10:31:01 GMT
If you shop around in banks/building societies you can get 5%. Santander is giving 5% on their current accounts plus cash back Last time I checked Santander were only paying 1.5% and the cash back might not cover the monthly fee for the account depending on monthly direct debits of the individual; so pretty poor. Have they changed things? The only 5% I'm aware of is Nationwide but this will only last a year and is limited to £2.5k. The next best after that are the current accounts that pay 3% (BOS, TSB, maybe others). I'd argue you shouldn't be using PM until after you have a good amount of cash spread between these types of "high" interest current accounts anyway. PM earnings have the benefit of being dividend earnings, so it's contributing towards your tax free dividend allowance rather than the tax free savings allowance that most p2p investments take a bite out of. I would say PM also offers returns that would contribute to your tax free capital gains allowance but that would imply these early SPVs actually gained any value...
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Post by cooldad on Apr 5, 2017 12:43:57 GMT
I understand your comments about 'charity' organisations. All I was saying is that buyers should be aware. 4.5% taking into the risks you are taking. If you shop around in banks/building societies you can get 5%. Santander is giving 5% on their current accounts plus cash back To get all the top paying accounts you will only be able to save about £30,000 if you are lucky, so what do you do once all those are full? Your post never stated anything about the risk just that you did not get back as much as you wanted. There is always going to be risk and unfortutly people seem to gloss over that.But that is why it is recommended that you invest in a wide range of asssets as over time some perform better the others. But in the case of PM, the idea is to invest in several properties rather then having a BTL yourself. I have about the same in PM as I would with a BTL property and are recieving about 4.5% so whilst not as good as advertised, it is probably about the same as I would get with a BTL and a lot more intersting for me and easier.
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Post by cooldad on Apr 5, 2017 12:55:06 GMT
I have another property which has now come up to the end of the 2 year term, so it will be interesting as to what my return for my £500 will be. Recently PM came up with a new option whereby at the end of the term, vote is taken from all the investors whether they wish to continue taking rent or to sell. This option was not on the cards when I first joined. If the majority wish to continue, then it's resold and the rest get a proportion once it's resold. Again there are admin charges. I opted to sell, so watch this space.
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Post by cooldad on Apr 12, 2017 12:05:11 GMT
I have another property which has now come up to the end of the 2 year term, so it will be interesting as to what my return for my £500 will be. Recently PM came up with a new option whereby at the end of the term, vote is taken from all the investors whether they wish to continue taking rent or to sell. This option was not on the cards when I first joined. If the majority wish to continue, then it's resold and the rest get a proportion once it's resold. Again there are admin charges. I opted to sell, so watch this space.
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Post by cooldad on Apr 12, 2017 12:09:05 GMT
I just received my return for another property I invested in 2 years ago with £500. Return, £478.43. Property Moose is not for me.
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Post by Deleted on Apr 12, 2017 12:28:49 GMT
I just received my return for another property I invested in 2 years ago with £500. Return, £478.43. Property Moose is not for me. Ouch.. is there a breakdown of the amounts? Did the property sell for less than what it was bought for?
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Post by sayyestocress on Apr 12, 2017 12:40:23 GMT
I just received my return for another property I invested in 2 years ago with £500. Return, £478.43. Property Moose is not for me. PM listed the returns for SPV 1 through 8 in the "RELISTINGS, SPV 2/5/7" thread which is worth a read. In terms of total return most made money, though not exactly stellar; the PM dividends are decent but it is the capital gain part that's been lacking for these first properties, which could be due to poor selection of properties, the short investment term of the offerings or factors outside PM's control. What the returns do show is that most people (wisely) held onto their shares as property is a long term investment to ride out the potential dips in the market/area. I'm surprised the terms of the early properties were only two years tbh as the general consensus seems to be to hold for 5+ years for property. If you'd not sold out you wouldn't have suffered the capital loss (for now, atleast) and would still be earning a dividend and keeping open the chance for the value of the property increasing. Only time will tell whether you made the right call.
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