sd
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Post by sd on Jul 1, 2017 19:29:01 GMT
A new promo from Property Partner: "We’re delighted to announce that we’ll be offering an enhanced rental income of 5% for two years on all new listing properties over the summer period."
First one is in Derby <link identifying secured asset redacted> Seems a very good deal.
S
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Post by Deleted on Jul 1, 2017 20:17:44 GMT
I've been contemplating getting into Property Partner for a while, to diversify out from my existing P2P portfolio into the BTL market.
Seems like this might be the time to make a move! Does this seem like a fittingly tempting offer?
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ben
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Post by ben on Jul 1, 2017 20:43:41 GMT
I quite like PP, at the moment my average returns are at about 3% so quite a bit below similar sites, but they go more for capital growth rather then rental yield so will not know until they start selling properties if it has been a good investment or not, but 5% for 2 years is not bad.
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IFISAcava
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Post by IFISAcava on Jul 1, 2017 23:22:31 GMT
I've been contemplating getting into Property Partner for a while, to diversify out from my existing P2P portfolio into the BTL market. Seems like this might be the time to make a move! Does this seem like a fittingly tempting offer? yes and add the £100 referral bonus (for when you reach £5000 invested) and Bob's your uncle
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Post by sayyestocress on Jul 4, 2017 9:31:14 GMT
Be prepared for huge levels of scale back on this one!
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sd
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Post by sd on Jul 4, 2017 17:17:15 GMT
I think so too.
Apparently another new property tomorrow and the existing Derby property stays in pre-order until Friday. Will see what tomorrows is like before I top up on the Derby property.
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IFISAcava
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Post by IFISAcava on Jul 4, 2017 18:29:04 GMT
I think so too. Apparently another new property tomorrow and the existing Derby property stays in pre-order until Friday. Will see what tomorrows is like before I top up on the Derby property. It's a good one (IMHO). Extrapolating from the last high yielding property, my prediction is both are likely to be 4fold oversubscribed (or more).
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Post by sayyestocress on Jul 5, 2017 11:07:43 GMT
I think so too. Apparently another new property tomorrow and the existing Derby property stays in pre-order until Friday. Will see what tomorrows is like before I top up on the Derby property. It's a good one (IMHO). Extrapolating from the last high yielding property, my prediction is both are likely to be 4fold oversubscribed (or more). Indeed. I pre-ordered 5 times the amount I actually wanted to be on the safe side. I'm expecting most of it back on Friday to then stick it in today's property pre-order. I imagine I'll see most of it back again next Wednesday!
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IFISAcava
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Post by IFISAcava on Jul 5, 2017 15:21:46 GMT
It's a good one (IMHO). Extrapolating from the last high yielding property, my prediction is both are likely to be 4fold oversubscribed (or more). Indeed. I pre-ordered 5 times the amount I actually wanted to be on the safe side. I'm expecting most of it back on Friday to then stick it in today's property pre-order. I imagine I'll see most of it back again next Wednesday! It's a new form of recycled cash drag! Although I am not sure if all of the pre-invested cash gets the bonus interest or it's just for the bit that eventually gets funded. I'll check.
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snowmobile
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Post by snowmobile on Jul 7, 2017 9:43:28 GMT
Scale back figures just in for Derby. Investors get 48.72% of amount ordered. Nowhere near the huge levels of scale back predicted.
I put in 2.5x the amount I wanted and was expecting less, so not a bad result. I suspect some people might have far more than they actually wanted now!
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sd
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Post by sd on Jul 8, 2017 14:12:04 GMT
I think the Warrington property is better than the Derby but I don't expect anything more than 2x oversubscribed. Not that it matters, can always sell anything extra on the resale market.
Any inside info on this Wednesday's property?
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Post by sayyestocress on Jul 10, 2017 8:22:13 GMT
...can always sell anything extra on the resale market. Indeed. On past experience this property shouldn't be a problem to shift on the SM for a small profit. In my experience it can take up to a couple of months to shift properties that weren't scaled back without a loss, but scaled back ones tend to go in a couple of days without being greedy.
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littonowl
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Post by littonowl on Jul 12, 2017 15:16:14 GMT
37.85% scaleback on W*******n ! Guess it wasn't unexpected, felt it was a better proposition than D***y personally. A new property up too, S*******e, 8 x 2 bed & 5 x 1 bed apartments, offering the same 5% dropping to 3.9% in year 3. Valuations look reasonable to me again, considering a quick search on rightmove sees a 2-bed property in the very development up for sale atm for £120K. Expected rent of c.£91K, giving an average across the properties of c.£585 again looks realistic, as a 1 bed property in the same postcode is currently being advertised on zoopla at £650 pcm. Mortgage is 5 yr fixed at 3.8%, so no nasty surprises likely there if interest rates rise. All in all looks reasonable to me, so I'll be churning my excess scaleback cash into this one now (presumably along with many others!?).
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IFISAcava
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Post by IFISAcava on Jul 13, 2017 2:39:12 GMT
Got a bit less of this one than I wanted and a bit more of Derby than I wanted. But at 5% pa that's OK. Won't sell any excess as the 5% isn't transferrable so value is higher holding than selling I feel, unless the money needed for something else earlier than 2 years.
Looks like 1 a week over the summer all at 5% which is very welcome. The 5% gives a bit of a buffer against a possible fall in house prices, so am building up a nicely diversified portfolio on PP.
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snowmobile
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Post by snowmobile on Jul 19, 2017 13:15:27 GMT
Indeed. I pre-ordered 5 times the amount I actually wanted to be on the safe side. I'm expecting most of it back on Friday to then stick it in today's property pre-order. I imagine I'll see most of it back again next Wednesday! It's a new form of recycled cash drag! Although I am not sure if all of the pre-invested cash gets the bonus interest or it's just for the bit that eventually gets funded. I'll check. I was curious about this as well. I checked with PP and as expected it is just the portion eventually funded that earns interest. I'm considering using auto-invest for the remaining properties in the summer promotion. Funds invested that way are not subject to the same scale back and earn 3% interest on funds waiting to be invested. There should be at least 5 properties still to come in the 5% offer, assuming one a week continues. Whether I'd actually want to invest in all of them is another matter The property launched today had a slightly lower level of scale back, investors receive 55.27% of their requested order. The next property could be less popular as the dividend yield, once the promotion ends, is a lot less.
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