ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Dec 23, 2020 20:00:37 GMT
Loans outstanding since Oct 2018 and a load of others onwards from this Cowboy when are we likely to see this matter closed or does he keep going to court to delay?
Yes, that's his game, push legal costs up, he has form with this, it's his Modus Operandi seemingly, a real nice individual this piece of work. Hopefully UNB are gonna pull all the wheels off his trolley, push it over a cliff, and he'll get what he SO richly deserves.
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ozboy
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Post by ozboy on Dec 23, 2020 17:59:07 GMT
Wottasurprise eh? As most on here know, I campaigned & warned heavily on this four years ago, and save for one or two at the time, my efforts were generallly dismissed as exaggeration and/or scare mongering and/or some other nonsense. To me it was all blatantly obvious, but no-one wanted to know and couldn't understand how grossly inaccurate Valuations were vitally important. Read some of the SO naive comments at the time on the Lendy thread - PBL157/PBL158 - R*****a & C****t, H****** Court Rd There's no false modesty from me - "I told you so!"PS - Gazing at my Crystal Balls is by Appointment, and for a Fee.  |
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ozboy
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Post by ozboy on Dec 22, 2020 15:49:00 GMT
Having met with Noman, Luxmore and Hackett back in the day, he came across V much as by far the most sincere & honest of the three.
We of course have no idea but I would imagine his departure was possibly to do with what was going on at FS, and he was outnumbered.
This is no endorsement obviously of any of his ventures, just a personal anecdote from meeting him Noman once.
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ozboy
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Post by ozboy on Dec 18, 2020 19:07:01 GMT
If you were able to earn 12% lending on some pretty crappy resi-developments then the risks were high. You would have been asked stuff about being a "sophisticated investor"... I could go on...
Of course sympathy is there but my view is that life is a learning experience and you just got a 5 or 6 figure education. Don't waste it!
On the other side those loses are deductable against profits from P2P so it could be worse.
It's the VERY inaccurate and criminal "Valuations" that are at the core. Developments based on future valuations were obviously risky, but there should never have been many problems with getting 12% on residential loans if the Valuations were reasonably accurate. We have just seen the FCA get shot to pieces for its incompetence and neglect, SURELY it's RICS, its Members, and the criminally dodgy inaccurate "Valuations" next?
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Dec 18, 2020 18:54:52 GMT
Agreed. It's a grim, narrow one-way street, a rat-run for taxis and delivery vans. The view from any flats (if ever built) will be a bare brick wall opposite. Few nice pubs in the vicinity though, have frequented all of them, relatively convivial and genteel clientele.
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Likes: 4,857
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Post by ozboy on Dec 16, 2020 20:16:25 GMT
Bloody oversized canoes, shoulda done wot I said over three and a half years ago. OzBoy knows best!!!  👍 |
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ozboy
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Post by ozboy on Dec 14, 2020 22:23:41 GMT
Anybody tried complaining using the Government Insolvency Practitioners Gateway about BDO's performance or lack of it. It is now years since Administration/Liquidation commenced and as far as I am aware, up to now, no Collateral Investor has received any payment. I would imagine MPs are completely overloaded with Covid and Brexit. My patience has runout. Who "audits" BDO, what checks and balances are in place on BDO's activities?
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Dec 14, 2020 14:41:41 GMT
thanks Mousey - well this is interesting and even worse than I had feared (if true) will go over this when I get more time but on first inspection this looks a bit naughty to me ! Interesting to see how some "private" emails have surfaced... Having this muppet go down for fraud will make my Xmas! And just what is the situation with the FS 5% fee on these loans? What the hell were the FSA doing ?Must dash and hide in the back room as carol singers are coming down the street! .................. out to lunch, like they always are.
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Dec 14, 2020 9:07:38 GMT
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ozboy
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Post by ozboy on Dec 13, 2020 21:58:11 GMT
Hey, adrianc, you do know what a question mark means, don't you? |
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ozboy
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Post by ozboy on Dec 13, 2020 21:08:22 GMT
Do white lives matter? Then let blacks bend the knee also. Do I recall a Lecturer/Professor, at Cambridge or similar, tweeting something about "White lives don't matter", and they not only didn't get reprimanded/sacked, they got promoted? Funny old world. You can google it if yer vaguely interested.
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ozboy
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Post by ozboy on Dec 11, 2020 16:42:12 GMT
With a no deal Brexit, this Government will have been elected on a false prospectus. They need to go back to the country for permission to continue on this course. Patriotism is not standing next to a Union Jack and mouthing catchphrases, it is looking after the people of your country and doing your most to protect their best interests. Blimey, when have any of them ever been honest and done any of that captainconfident, all that "doing the right thing for the country" malarkey stopped with Thatcher didn't it? They're ALL crooks & shysters now. V surprised many haven't wound up in P2P tbh. 
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ozboy
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Chat
Stocks
Dec 9, 2020 11:26:00 GMT
sd2 likes this
Post by ozboy on Dec 9, 2020 11:26:00 GMT
We are all jumped up nobodies on the internet ;-) coming on this site and sharing is really about meeting nobodies and being a nobody.
My strategy is to only buy assets that have a history of success and stable success at that. I like assets that grow by 20% every year and who only have variability of about 10% but I have to choose some that do less well so I understand some of your thinking. By history I mean at least 5 years, though I see SSON as having a Fundsmith track record.
LGEN wouldn't fall into my area of interest as the SP is all over the place with no trackrecord of success. But if you like noisy assets with short term wins then why not. Remember British Steel paid a good dividend until it crashed.
Using equity release is an interesting and brave strategy. I'm not sure I would have the guts to do that. From my reading of the market and books on the subject over the last 10 years the basic investor wins 5% a year even if they are an idiot (up to a certain level of idiot of course). A good player can win about 11%. So logically you should look at a budget between 5 and 11 for your calculations and do some risk analysis (maybe you have done that all ready)
My view about dividends is that you need to take advantage of all the tax opportunities you have so divis have their place in the portfolio.
" I like assets that grow by 20% every year.........." Blimey @bobo, where do you find THEM? Obvs not having a dig, just consternated/flabbergasted at your ingenuity. 
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ozboy
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Post by ozboy on Dec 4, 2020 14:37:15 GMT
First of all, when I talk about plots I am talking about the units you buy off-plan. Secondly, I am a portfolio landlord therefore, with all the due respect, I think I know what I am talking about. As I said, I have already been in a similar situation in the past. A few years ago I bought an off-plan property in Birmingham city centre. The developer went into administration (another scam...), no premium was paid to the insurer therefore no chance to get the deposit back through an insurance claim, the land was sold on auction to an experienced developer who contact me immediately offering the option to get the deposit back or to wait until the building was completed. I chose the second one. Why did the developer do that? Because, as I said, when you buy an off plan property, you register an unilateral notice in the land registry which remains in force even if the developer goes into administration. Any developer will have to deal with me, once he buys the land. I do not live under the illusion that I will rank ahead of MT on repayment of monies because I know that MT is a preferential creditor. And actually, this is exactly the reason why I do not understand why MT is not acting, being a preferential creditor. I perfectly know that there will not be money left for investors like me after repaying the loan but at least there will be an auction and another developer will buy the land. After 4 years I am tired of waiting with my money stuck in this scam. In any case, I think you are missing the point here. These people are fraudsters, they have no interest in completing the building and no interest in paying back the loan. if you don't understand this, there is nothing else to talk about. I think the borrower is certainly pushing the boundaries of ethical business. Fraudster applied more up Lendy and it’s borrowers. Maybe it depends how really smart they are? 
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ozboy
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Likes: 4,857
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Post by ozboy on Dec 1, 2020 12:33:34 GMT
I'm sticking with P2P, selectively... Over recent months I've - ADDED TO: Capital Stackers, Capital Rise, Blend, Property Bridges, Trine, Bridge Crowd/Social Money, Crowd Property, Wise Alpha, Flender, Sun Exchange, Qardus, Quanloop REDUCED: Ablrate, Relendex & Unbolted (lack of borrowers), Via Invest, Iuvo, Lendermarket, HNW Lending, Kuflink, Proplend, Rate Setter, Assetz Capital, Uown BRAVE person, Good Luck!We all know, unfortunately, what happens after Platform failure, which is the biggest P2P risk. With worthless "Professional" Valuations coming a close second.
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