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Post by 4thway on Apr 4, 2015 15:55:36 GMT
I'm chairing a property P2P lending panel show at the Property Investor Show in London in two weeks. I'm allowed to seek questions in advance through my network, so if any of you have any questions on the subject let me know, and I'll try to get them in. I'll let you know the answers and send you a link to the video, once it's up. On the panel: Christian Faes, LendInvest David Penstion, Assetz Capital Luke Jooste, Funding Circle Simon Zutshi, Crowd Property Maybe I'll see some of you there. It's free entry. I know how tight some of you guys are  David Dimbleby. I mean Neil |
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webwiz
Posts: 1,133
Likes: 210
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Post by webwiz on Apr 4, 2015 21:33:32 GMT
Why are borrowers prepared to pay the high rates that p2p platforms charge if their property is good security?
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Post by 4thway on Apr 13, 2015 14:32:53 GMT
Why are borrowers prepared to pay the high rates that p2p platforms charge if their property is good security? Great question. Thanks webwiz.
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Post by zakaz on Apr 13, 2015 17:48:36 GMT
webwiz, I can give you a good answer to your question. For example I have an awfull credit history(big loan in a bank, several late payments, and I vouched for another person when he took his loan) Bank won't even talk to me. But I see a great opportunity like this www.city24.ee/kinnisvara/4081999;jsessionid=795F9459388647EBADB73B9FE392C98C?tt=1&selectedTabMenu=list&lang=en¤cy=EUR15000m2 of living space sold for half the price of the land it is built on, and I have enough money to buy it. But in order to earn from it I need some work done to it and to start I need a downpayment to the construction company and materials to buy. Bank will deny me since the liquidity of this property is still not evident and hence bad credit history. I could go to a secondary credit market which accepts higher risk clients but charges CRAZY interest and cannot provide large summs. The alternative is p2p lending then. They will not deny me as a bank would, and can give me more money then some other credit organization under much lower interest rate. I take the 500 000 EUR under 15% for example. This is 5000 EUR/month, which is roughly my monthly salary, and after 6-12 months I return the full summ, by presenting a ready apartment house full of renters to the bank and getting a 3% loan there. Profit |
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agent69
Member of DD Central
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Likes: 4,441
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Post by agent69 on Apr 13, 2015 18:01:25 GMT
Why are borrowers prepared to pay the high rates that p2p platforms charge if their property is good security? How long will it be before the property bubble bursts?
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debeast
(o)(o)
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Post by debeast on Apr 15, 2015 13:44:52 GMT
No House Crowd?
I'd really like to know what they look for in a property that they will fund through P2P that it is at all different from looking from one they might buy themselves for 100k ?
Is there a difference?
/beastie
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webwiz
Posts: 1,133
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Post by webwiz on Apr 15, 2015 16:37:04 GMT
webwiz, I can give you a good answer to your question. For example I have an awfull credit history(big loan in a bank, several late payments, and I vouched for another person when he took his loan) Bank won't even talk to me. But I see a great opportunity like this www.city24.ee/kinnisvara/4081999;jsessionid=795F9459388647EBADB73B9FE392C98C?tt=1&selectedTabMenu=list&lang=en¤cy=EUR15000m2 of living space sold for half the price of the land it is built on, and I have enough money to buy it. But in order to earn from it I need some work done to it and to start I need a downpayment to the construction company and materials to buy. Bank will deny me since the liquidity of this property is still not evident and hence bad credit history. I could go to a secondary credit market which accepts higher risk clients but charges CRAZY interest and cannot provide large summs. The alternative is p2p lending then. They will not deny me as a bank would, and can give me more money then some other credit organization under much lower interest rate. I take the 500 000 EUR under 15% for example. This is 5000 EUR/month, which is roughly my monthly salary, and after 6-12 months I return the full summ, by presenting a ready apartment house full of renters to the bank and getting a 3% loan there. Profit Nice property. And only 4 hours by tank from Russia www.telegraph.co.uk/news/worldnews/europe/estonia/11530064/Sitting-near-a-nuclear-tripwire-Estonias-president-urges-Nato-to-send-troops-to-defend-his-country.html
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Post by zakaz on Apr 15, 2015 17:42:13 GMT
Bah, another one .... Cheap ass news site, wrote idiotic jibberish of a US pawn moron, who lived in US half his life and noone respects or listens to and half Europe believed. This is very sad how shortsighted people are in this digital century of lies. I will repeat again, I have lived all my life in Estonia and I am Russian, there are no Russian tanks going to Estonia ... correction, there is one tank g3.nh.ee/images/pix/900x585/19cbd2ec/file63084790_19e40b77.jpg standing there since WWII People go between Estonia and Russia in huge quantities and are not feeling threatened in any way, Ilves is just on the last stages of losing his mind. When I show this article to my friends and family in Tallinn, they start laughing senseless. At least look at wikipedia, you will easily understand where his loyalties lie and who put him on presidents seat in Estonia en.wikipedia.org/wiki/Toomas_Hendrik_Ilves |
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Post by reeknralf on Apr 15, 2015 18:13:56 GMT
I'd trust the opinion of one Estonian I'd never met more than the mainstream press. The Telegraph? Really?
That said, such P2P borrower rates as I've seen are way over 15%, so I still don't understand why people pay them.
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Jaydee
Member of DD Central
Posts: 417
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Post by Jaydee on Apr 15, 2015 18:18:59 GMT
Bah, another one .... Cheap ass news site, wrote idiotic jibberish of a US pawn moron, who lived in US half his life and noone respects or listens to and half Europe believed. This is very sad how shortsighted people are in this digital century of lies. I will repeat again, I have lived all my life in Estonia and I am Russian, there are no Russian tanks going to Estonia ... correction, there is one tank g3.nh.ee/images/pix/900x585/19cbd2ec/file63084790_19e40b77.jpg standing there since WWII People go between Estonia and Russia in huge quantities and are not feeling threatened in any way, Ilves is just on the last stages of losing his mind. When I show this article to my friends and family in Tallinn, they start laughing senseless. At least look at wikipedia, you will easily understand where his loyalties lie and who put him on presidents seat in Estonia en.wikipedia.org/wiki/Toomas_Hendrik_Ilves on another thread you said " And being a Maltese resident I don't pay taxes gained outside Malta, so I never suffer any taxes." Difficult to live all your life in Estonia and be resident in Malta.
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Post by zakaz on Apr 15, 2015 18:42:20 GMT
Bah, another one .... Cheap ass news site, wrote idiotic jibberish of a US pawn moron, who lived in US half his life and noone respects or listens to and half Europe believed. This is very sad how shortsighted people are in this digital century of lies. I will repeat again, I have lived all my life in Estonia and I am Russian, there are no Russian tanks going to Estonia ... correction, there is one tank g3.nh.ee/images/pix/900x585/19cbd2ec/file63084790_19e40b77.jpg standing there since WWII People go between Estonia and Russia in huge quantities and are not feeling threatened in any way, Ilves is just on the last stages of losing his mind. When I show this article to my friends and family in Tallinn, they start laughing senseless. At least look at wikipedia, you will easily understand where his loyalties lie and who put him on presidents seat in Estonia en.wikipedia.org/wiki/Toomas_Hendrik_Ilves on another thread you said " And being a Maltese resident I don't pay taxes gained outside Malta, so I never suffer any taxes." Difficult to live all your life in Estonia and be resident in Malta. It is filling one paper. homeaffairs.gov.mt/en/MHAS-Information/Services/Documents/Residence/Form%20P%20-%20Permanent%20Residence%20Certificate%20Card.pdfhere is the form, I lived in Estonia since I was two, and left 3 years ago, out of the 30 years I live I've spent 25 years, in Estonia.
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Post by zakaz on Apr 15, 2015 18:43:36 GMT
I'd trust the opinion of one Estonian I'd never met more than the mainstream press. The Telegraph? Really? That said, such P2P borrower rates as I've seen are way over 15%, so I still don't understand why people pay them. I see more advertisement there then news. I saw an interest rate of 30% just days ago, look here investly.eu/?lang=enthe thing is just that people sometimes need a lot of money fast, for a small period of time. There is nothing strange about that.
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Post by yorkshireman on Apr 15, 2015 18:57:18 GMT
Don’t go there again!!! I nearly started an international incident on Monday with the same article.
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Post by zakaz on Apr 15, 2015 19:02:07 GMT
Another good example and not from the country "soon to be surely invaded by Russian tanks"(lol) www.remax-malta.com/PublicListingFull.aspx?lKey=8e6cb3fd-da82-42d9-a67b-ea004302de67An apartment that can easily earn 1000 EUR/month rent was selling for 135 000 EUR, if I would notice this ad in time I would surely take a loan to not lose the property to another client, knowing that my own property ( www.city24.ee/kinnisvara/pcfu68 ) will sell within a month, that I can pay back the full loan with. Even if I take 100 000 EUR under 15%, that is 15%/12 only 1.25% per month, then I return the loan prematurely and get my prize. |
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Post by yorkshireman on Apr 15, 2015 19:25:20 GMT
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