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Post by investor1925 on Sept 8, 2017 12:44:15 GMT
Sold my loan parts in the Devon "castle" in pretty "Short" order this morning. Maybe some people have turn on the autobid function already
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Post by GSV3MIaC on Sept 8, 2017 15:53:31 GMT
Presuably at par though, not at a premium (which is what the thread title comments on)?
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Post by df on Sept 8, 2017 22:15:34 GMT
But I am still struggling to shift many loans at a decent premium since the announcement. I got rid of all my North Devon loans, before it is almost impossoble to shift them at par! I guess the real issue is lack of reason to buy a property loan yielding a headline rate of under 10%? Take an A+ 9% property loan, remove 1% for FC fees, plus at least 0.6% bad debt estimate and you have a loan yielding 7.5%. That's assuming FC's bad debt estimation is correct and you are happy to be un-diversified (to coin a word). Not a great offer IMHO. I've invested in three of them as an experiment. Two repaid and one didn't. I don't see much point investing in FC's low return property loans. There are plenty of 12%+ opportunities elsewhere that carry exactly the same risk. IMO the strength of FC is a constant flow of SME amortised loans.
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Post by william0101 on Sept 8, 2017 22:38:25 GMT
My guess is that people have realized that autobid after the 18th is going to dilute any hand crafted portfolio over (say) 8 or 9% so they're topping up with D's and E's while they can and dumping the lower rate stuff that autobid is going to be buying on their behalf. This is working out nicely for me as I put everything up at 3% and enough is being bought to satisfy my tidying-up-before-the-18th needs.
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number5
Member of DD Central
Posts: 449
Likes: 98
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Post by number5 on Sept 11, 2017 7:08:17 GMT
What platform are all of the property flippers going to now?
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