oldgrumpy
Member of DD Central
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Post by oldgrumpy on Jul 8, 2016 19:38:09 GMT
Plenty of work going on in Wolverhampton. Some sections beginning to look quite smart externally, and a load of new scaffolding has just gone up on the south-west facing side.
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fp
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Post by fp on Jul 8, 2016 19:38:40 GMT
These are already being marketed, I received an email about them a few weeks ago X link removed X I've looked into these type of properties before, they offer healthy discounts if you buy off plan and pay a decent deposit, effectively giving you a saving equivalent to the saving on finance costs. Great investments until the guaranteed rent period is up, then you're likely to get a reality check 
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ped
Member of DD Central
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Post by ped on Jul 8, 2016 23:37:46 GMT
I have a strong feeling DFL3 will hit the SM with a large slice of availability, if you are in 25 and you wanted more you would have picked it up already. 3Mil loan most peeps will be at the risk limit so would not want more. I know the many investors that do not read this wonderful forum are missing the info but they will have worked out block B pbl25 is the same building as DFL3 surely. 100% of any prefund or I with eat my hat! if I had one....  |
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jjc
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Post by jjc on Jul 9, 2016 12:22:01 GMT
New to this so probably missed a few beats, but looking at the development appraisal:
1. I don’t see the site acquisition costs
2. don’t understand the 8% cost of finance. I would imagine it should be closer to 18% (& should also include the previous loan £3.11m @ say 18% for 16.5M since Feb’15). I make that over £2m (instead of the £316k mentioned), leaving aside whatever financing costs there may be on a 2nd charge I’ve heard mentioned.
Expected profit is £2.96m, but the £1.7m difference in cost of finance (exc 2nd charge) would dent that badly, & when we consider the cost of buying the site (~3m guess judging by PBL025?) would flip it well into losses.
Also would personally consider GDV to be the £14.8m net DV mentioned (rather than the £15.75m – which excludes a bunch of fees & costs).
Can’t see how this deal stacks up.
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sl75
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Post by sl75 on Jul 11, 2016 10:46:43 GMT
I have a strong feeling DFL3 will hit the SM with a large slice of availability, if you are in 25 and you wanted more you would have picked it up already. 3Mil loan most peeps will be at the risk limit so would not want more. I know the many investors that do not read this wonderful forum are missing the info but they will have worked out block B pbl25 is the same building as DFL3 surely. 100% of any prefund or I with eat my hat! if I had one.... There may well be plenty of people who've not picked up on the roll-over mechanism, and expect their pre-fund target to include the amount rolled over, rather than being in addition to it... It's how some other platforms that have done roll-overs have operated - you bid for the new loan as normal, but arrangements are made to roll over your existing investment into the new loan, rather than needing to double-fund. As such, even if there's not 100% allocation, I'd expect there to be plenty on the SM when those people realise their assumptions were incorrect (possibly with SS intervention required in some cases).
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littleoldlady
Member of DD Central
Running down all platforms due to age
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Post by littleoldlady on Jul 11, 2016 11:37:56 GMT
Also I would bet if you really did not want your PBL25 rolled into DFL3 then you could e mail SS and they will take it off your haYou lose your bet. I tried, and they wouldn't. However I have sold it on the SM so I am OK.
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treeman
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Post by treeman on Jul 11, 2016 12:04:57 GMT
Looks like this is going live. My account is currently negative because I have been assigned a new loan part but my part to be rolled over has not been repaid yet. I was probably not meant to see my account in this state... PBL025 has disappeared from view ............... DFL003 now up - 40k spare
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cooling_dude
Bye Bye's for the PPI
Posts: 2,853
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Post by cooling_dude on Jul 11, 2016 12:05:36 GMT
Yep... Just gone live. I asked for £1000 & got £772. (I had no investments in the other loan) So... 77.20%... unless it's bottoms up. Not sure how DFLs are allocated TBH 
Edit: I keep forgetting I have a business account - 77.2% allocation it is. |
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Liz
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Post by Liz on Jul 11, 2016 12:05:58 GMT
Now live, 40k available.
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ped
Member of DD Central
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Post by ped on Jul 11, 2016 12:07:52 GMT
40K showing available.
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ped
Member of DD Central
Posts: 255
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Post by ped on Jul 11, 2016 12:09:08 GMT
100% of any prefund or I with eat my hat! if I had one.... Salt with your straw boater, sir? Looks like my hat was safe, closer that I was expecting. 40K available of the 1.1Mil
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treeman
Member of DD Central
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Post by treeman on Jul 11, 2016 12:09:53 GMT
seems to have rolled over all parts individually rather than apply the de-shrapnelator  Looks like interest carries over too .......... |
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cooling_dude
Bye Bye's for the PPI
Posts: 2,853
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Post by cooling_dude on Jul 11, 2016 12:10:53 GMT
Salt with your straw boater, sir? Looks like my hat was safe, closer that I was expecting. 40K available of the 1.1Mil Get eating your hat... I asked for £1000 & got £772. So 77.2%
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lofty
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Post by lofty on Jul 11, 2016 12:45:55 GMT
Yes, PBL025 now repaid. Rather unfortunately I appear to owe SS a huge amount of interest because the end date has been set to some time in February instead of today. Time to raise a ticket... Yes, I've got that too. Could this be the original end date of the loan? It was substantially in the negative. I think I'll give them a few minutes before I complain about my massive 5p worth of interest...
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goopy
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Post by goopy on Jul 11, 2016 13:42:07 GMT
Yes, I've got that too. Could this be the original end date of the loan? It was substantially in the negative. I think I'll give them a few minutes before I complain about my massive 5p worth of interest... Yes, give or take a few days, that looks to be the issue! At least this makes (some sort of) sense now. I'm more concerned about that large negative interest than the small positive Has anyone emailed SS about this? According to my repaid loans I owe them over £400. 
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