mary
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Post by mary on Jan 25, 2018 18:06:22 GMT
Possibly, always good to see progress.
However, I felt good about PLB120, lots of progress, seemingly sold out for a good exit, even some small repayments! But then the developer inexplicably seems to have run out of money to finish it and it's now on the default list at -182 days. So there is never no risk.
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webwizard
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Post by webwizard on Mar 12, 2018 16:58:13 GMT
Tranche 8 is now available to pre-fund with a value of £197,148.
I think the time-lapse videos each month are a great example of how developers can demonstrate progress to investors. I feel more confident on this loan each time I can see the progress (despite the snow and weather). I only wish that more projects did this as it demonstrates the commitment of the developer too.
Perhaps Lendy should ask more borrowers to do this as a requirement of the loan. In fact, perhaps we as investors should require it of Lendy, to require it of the borrower. A really good professional developer would have no trouble in delivering that, whereas ....
I certainly invest more in loans where I can see or measure the progress.
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southport
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Post by southport on Mar 13, 2018 5:02:53 GMT
Tranche 8 is now available to pre-fund with a value of £197,148. I think the time-lapse videos each month are a great example of how developers can demonstrate progress to investors. I feel more confident on this loan each time I can see the progress (despite the snow and weather). I only wish that more projects did this as it demonstrates the commitment of the developer too. Perhaps Lendy should ask more borrowers to do this as a requirement of the loan. In fact, perhaps we as investors should require it of Lendy, to require it of the borrower. A really good professional developer would have no trouble in delivering that, whereas .... I certainly invest more in loans where I can see or measure the progress. One thing that the time lapse shows is the amount of work still to do before the end of the loan (100 days). Looks like an extension may be asked for?
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southport
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Post by southport on Mar 13, 2018 11:07:11 GMT
One thing that the time lapse shows is the amount of work still to do before the end of the loan (100 days). Looks like an extension may be asked for? As per the text accompanying this tranche: " There have been a few delays on site so we have commenced discussions regarding an extension to the facility. These discussions will be finalised over the next month with a view to agreeing an extension." Quite. I am not in this loan and therefore haven't really read the accompanying text properly. Not in the loan so probably shouldn't be commenting. I'll go back to my corner now...
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agent69
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Post by agent69 on Apr 16, 2018 18:23:03 GMT
Marketer update from 16 April 2018.  (Excited diggers, oh my!) Bulk Excavation & Archeological Survey.
Can't be an archaeological survey, as nobody is wearing a woolly hat
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empirica
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Post by empirica on Apr 16, 2018 19:48:07 GMT
"Some excited diggers!!" - and one nervous developer, perhaps?
A significant find would cause delays and add to costs?
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Post by brightspark on Apr 16, 2018 20:45:45 GMT
Why should the developer be nervous with Lendy providing lenders' funding. It 's the lenders who should be biting their nails as the hole is filled with their money.
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Yintara
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Post by Yintara on Apr 17, 2018 20:13:07 GMT
The pile cap is now complete I honestly read that as 'This pile of cr*p is now complete' and thought wow, they really need a better marketer...
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empirica
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Post by empirica on Apr 17, 2018 20:18:54 GMT
Why should the developer be nervous with Lendy providing lenders' funding. It 's the lenders who should be biting their nails as the hole is filled with their money. Because here's one developer who is visibly making progress and intends to make a profit from the completed development? Additional costs mean reduced profits, and if the cost forecasts rocket to make the profit doubtful, there's less incentive to complete the project. That's when lenders should get nervous.
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guff
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Post by guff on Apr 17, 2018 20:34:12 GMT
"Some excited diggers!!" - and one nervous developer, perhaps? A significant find would cause delays and add to costs? Hopefully just a few Richard the Thirds.
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Post by skint4achange on Apr 18, 2018 5:25:52 GMT
Even when the place is finished I think it is going to be a bugger to sell! The place is going to have a very limited market. I mean, it must be huge, if the size of the swimming pool is anything to go by!  |
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Post by GSV3MIaC on Apr 18, 2018 7:34:40 GMT
Who are they burying under the swimming pool, I want to know. Seems awfully public for the normal Chicago interrment .. thought they usually did it at night, and got the concrete down faster. ?
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jsmithe
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Post by jsmithe on Apr 18, 2018 13:07:37 GMT
Paul64It seems the days remaining has dropped to 63, I thought you had funding for 12 months? What does everyone else make of this?
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elliotn
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Post by elliotn on Apr 18, 2018 14:22:02 GMT
Paul64It seems the days remaining has dropped to 63, I thought you had funding for 12 months? What does everyone else make of this? I believe it will be extended in line with the latest tranche once it has been drawndown & the i's dotted.
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empirica
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Post by empirica on Apr 18, 2018 18:33:30 GMT
Paul64 It seems the days remaining has dropped to 63, I thought you had funding for 12 months? What does everyone else make of this? I believe it will be extended in line with the latest tranche once it has been drawndown & the i's dotted. Well the tranche has drawn-down and the loan amount updated, so the term should have similarly been adjusted to reflect the extension. I'm sure Lendy will get around to it once they worked out which of the five tabs it needs to go in ... 
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