toffeeboy
Member of DD Central
Posts: 530 
Likes: 380
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Post by toffeeboy on May 23, 2024 13:50:32 GMT
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Post by wiseclerk on May 23, 2024 14:09:12 GMT
Launched today. A first look whether it is worth it and a comparison
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Post by captainconfident on May 23, 2024 20:31:11 GMT
I lost confidence in Mintos after they had the bloody cheek to freeze my account while doing their AML check. Nothing has impressed me much since and this new product doesn't stack up against for instance, Peerberry real estate 9% buyback guaranteed.
Mintos' efforts to diversify its platform is quite reasonable but once you've demonstrated your power to deny your customer access to their own funds as leverage to force documents from them, your customer is never going to fall in love with you again.
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Post by rahafoorum on May 26, 2024 7:26:10 GMT
I tried to figure out the fees associated with it and it's a huge mess. On the landing page they say that costs and fees are really transparent. On the investment opportunity page there are general costs associated with the purchasing deal. Then in the documents you can see that there's some management cost for the first year highlighted there. And in KID it seems that no costs affect the investment whatsoever. In conclusion I have no idea how much it costs for investors.
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Post by overthehill on May 26, 2024 8:57:49 GMT
I'll state the same thing as for asset exchange, DONT DO IT. Too many middle men needing paid, too many vultures when things do go wrong and too many known and unknown external factors... and you're last to be paid.
Apart from their useless ex-property director buying lemons and being over optimistic about returns, I believe property partner (better) was/is a good and honest company and their wheels came off in spectacular fashion.
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Post by overthehill on May 28, 2024 10:38:22 GMT
I'll state the same thing as for asset exchange, DONT DO IT. Too many middle men needing paid, too many vultures when things do go wrong and too many known and unknown external factors... and you're last to be paid.
Apart from their useless ex-property director buying lemons and being over optimistic about returns, I believe property partner (better) was/is a good and honest company and their wheels came off in spectacular fashion.
Just an example of vultures, unknowns or external factors. And now you're asking how is that going to affect my return, maybe it won't.
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fric
Member of DD Central
Posts: 200
Likes: 80
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Post by fric on May 28, 2024 11:20:38 GMT
I was very curious to see how it goes, but the first offer that appeared when it launched was totally offputting. For those that missed it - its basically a 5% yearly return with monthly "interest" payments (part of the rent). The interesting part here is that theoretically you also get the real estate appreciation over time. The problem here is that you can only get your initial investment and the appreciated amount only if the investment has ended (e.g. real estate gets sold, some other investor buys out mintos share etc). For the first offer they listed it with a 20 year term. Who is interested in locking in their investment like this for 20 years? Unless the investments gets rebought or something after a couple of years, nobody is gonna be interested in the secondary market... I guarantee that once its up, you will have to offer significant discounts for anybody to buy...
Its actually kinda weird - with notes mintos started to go away from the single loan offering style, but with this they are back to offering single items? Imho real estate would have made much more sense if it were like bond style investment where you lend money to a business that buys up real estate and rents it out (while also selling existing inventory from time to time).
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