kt
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Post by kt on Apr 4, 2016 15:54:47 GMT
Loan Request 117230, Central London Development Rosebury Rd 4 Surely it is unwise to invest in this loan when it is purely to repay another loan for which the developer doesn't have the funds as the property hasn't sold. 16% funded. Am I overly cautious? The closest I can find is this www.rightmove.co.uk/property-for-sale/property-58586639.html for 200k less than the development. It's not even clear what the development for 117230 is. How many people just throw money at loans with no DD? KT |
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kaya
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Post by kaya on Apr 4, 2016 16:16:39 GMT
I might, but with a property loan if you sell it before it ends there is really no risk.
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adrianc
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Post by adrianc on Apr 4, 2016 16:23:11 GMT
The photos on that listing match the ones on the investor report PDF, which gives the address and postcode.
I think you might be getting tangled on the loan numbers, too.
The current request is 21766. The other three are 20624, 21243, 21475. Between them, they total £1.36m, against an asking price on that listing of £2m.
There's also 14727 (£400k) outstanding, but that'll be repaid by this tranche.
11124 (£250k), 11250 (370k), 12550 (216k) have already been repaid, as has 6313 (250k)
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kt
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Post by kt on Apr 4, 2016 16:39:05 GMT
The photos on that listing match the ones on the investor report PDF, which gives the address and postcode. I think you might be getting tangled on the loan numbers, too. You are completely correct. I fear that I'm am being confused by the number of loans on this property. I believe for me the best approach may be to avoid property loans completely. Thank you Adrian.
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Investboy
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Trying to recover from P2P revolution
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Post by Investboy on Apr 5, 2016 15:49:06 GMT
... How many people just throw money at loans with no DD? Guilty But I guess this is what FC wants to be. Just a black-ish box where you pile in every loan small amount and "may the odds be ever in your favor"
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adrianc
Member of DD Central
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Post by adrianc on Apr 6, 2016 10:23:27 GMT
I believe for me the best approach may be to avoid property loans completely. They're the only ones I'll go near on Flaky Companies these days.
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