paulgul
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Post by paulgul on May 3, 2016 8:45:55 GMT
I've stopped putting any more money in over the last few weeks as I've lost a bit of faith. I fully get & am wholly realistic about the fact that you cannot expect 100% hassle-free occupancy (I know the realities of lettings having dealt with it directly when looking after an ill close friend's property for 2-3 years up till recently) but, I did expect a bit more (esp when it comes to HMO management) from PM in terms of tenant sourcing & better returns. I know some on here frown upon rent guarantee schemes but, that would be a good hedge against voids (certainly for HMOs) albeit for lower but, steady & constant, returns. If things pick up again & I feel the strategy going forward is improves, I'll happily dip in again as I totally like the concept of property crowd purchasing & as intimated by many cuts a lot of hassle & risk looking after 1-2 properties as a direct landlord. Likewise, my last investment with PM was November (SPV30), luckily my PM portfolio only represents around 5% of the total I have with other companies on these forums so I'm not too worried, but certainly not worth investing further
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ben
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Post by ben on May 3, 2016 8:51:01 GMT
I wil carry on investing with PM as I do not think that 5-6% is to bad for the type of investment, although I will probably avoid the HMO though as without them I would be at just under 7%
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pom
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Post by pom on May 3, 2016 9:17:35 GMT
I'm carrying on for now, I'm just about getting as much after fees as I could probably have expected by doing BTL locally - tho having said that I'm only a couple of investments away from the hard limit I set myself anyway (well it's hard at least until I see how well they exit the first few properties anyway....or if they )!
So fingers crossed they'll work out how they're going to run the SM and launch that reasonably soon so I can rebalance a bit. My hope is they'll present us with an option to vote on contracting out the struggling HMOs - can't imagine many people will say no to underwritten rent given the previous performance, but if it's done once the SM is available at least they'll have a way out (and underwritten rent will also make them more desirable on the SM)
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j
Member of DD Central
Penguins are very misunderstood!
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Post by j on May 3, 2016 20:01:38 GMT
I'm carrying on for now, I'm just about getting as much after fees as I could probably have expected by doing BTL locally - tho having said that I'm only a couple of investments away from the hard limit I set myself anyway (well it's hard at least until I see how well they exit the first few properties anyway....or if they )! So fingers crossed they'll work out how they're going to run the SM and launch that reasonably soon so I can rebalance a bit. My hope is they'll present us with an option to vote on contracting out the struggling HMOs - can't imagine many people will say no to underwritten rent given the previous performance, but if it's done once the SM is available at least they'll have a way out (and underwritten rent will also make them more desirable on the SM) Don't think they'll go down the route of guaranteed rent fro hmos pom, which was my hope also. After recently contacting them with some concerns, I've got a reply back stating that t would be undoable for hmos as they do not buy the properties directly from the agent/their sister company who would guarantee the rent as well, though they are happy to go down that route whenever it seems favorable with other props. They've also intimated at looking at bringing some of the management of hmos in-house to get better returns. Suffice, I won't invest more till I see/hear of better outcomes for future properties as I still have some doubts on how efficient the whole process might be in the future.
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pom
Member of DD Central
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Post by pom on May 3, 2016 21:26:29 GMT
Don't think they'll go down the route of guaranteed rent fro hmos pom , which was my hope also. After recently contacting them with some concerns, I've got a reply back stating that t would be undoable for hmos as they do not buy the properties directly from the agent/their sister company who would guarantee the rent as well, though they are happy to go down that route whenever it seems favorable with other props. They've also intimated at looking at bringing some of the management of hmos in-house to get better returns. Suffice, I won't invest more till I see/hear of better outcomes for future properties as I still have some doubts on how efficient the whole process might be in the future. There are at least a couple of the more recent HMOs that have underwritten rent, tho possibly only in Notts, which may not help when the problematic ones are in the NW.
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