littleoldlady
Member of DD Central
Running down all platforms due to age
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Post by littleoldlady on Nov 14, 2017 12:08:04 GMT
I agree that PM is completely different to MT, C and L. PM is group BTL whereas the others are bridging and development loans. I would very much like to belong to a well managed BTL syndicate but PM has been my biggest disappointment in p2p - not my biggest loss, and I may even escape at a small profit depending on the performance of my remaining portfolio - but disappointing because I do like the model. And anyway nearly all my gain has been from the fixed interest bonds, not from direct BTL.
The only comparable alternative TIKO is PP but they concentrate on London which I am concerned may be over priced. PM have concentrated on the other extreme - deprived areas. I hope to see a group BTL platform that buys properties between these extremes, in up and coming areas to let to professional (including artisan) tenants. I suppose either PM or PP could move into this area.
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Post by sayyestocress on Nov 14, 2017 12:14:56 GMT
The only comparable alternative TIKO is PP but they concentrate on London which I am concerned may be over priced. PP have definitely been branching out from London lately. If you go on the map view of properties you can see they're now quite well spread over England, though their historical concentration on London is still apparent.
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littleoldlady
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Running down all platforms due to age
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Post by littleoldlady on Nov 14, 2017 12:19:06 GMT
The only comparable alternative TIKO is PP but they concentrate on London which I am concerned may be over priced. PP have definitely been branching out from London lately. If you go on the map view of properties you can see they're now quite well spread over England, though their historical concentration on London is still apparent. Thanks. I'll go over and have a look and see if my login still works.
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Post by propertycalf on Nov 14, 2017 15:27:08 GMT
I have been with PM for nearly 2 years now and my investment is showing XIRR of 6.67%. I have sold some loans on the SM at a small loss and some at a profit, and after weeding out the poor performers almost all of my holdings are currently paying rent every month. So with care, reasonable returns are possible, but some of the loans particularly in D*rham have been disappointing. Sounds like a similar situation to myself, the majority of my holdings have tenants, with just a few vacant properties. I haven't really bothered with the loan notes & the fact that PM is not centered around the south east was a selling point for me!
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carolus
Member of DD Central
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Post by carolus on Nov 14, 2017 15:35:34 GMT
I would very much like to belong to a well managed BTL syndicate but PM has been my biggest disappointment in p2p - not my biggest loss, and I may even escape at a small profit depending on the performance of my remaining portfolio - but disappointing because I do like the model. Agreed. The concept is great, and if I felt it was a well run platform I'd be happier accepting the short term lower returns. However, the returns have been so low (and much lower than the "projections") that I could do almost anything else with my money and be beating the rental income (it might beat cash, but not by much!). This then means I'd effectively be gambling that the capital gains down the line would make up for it, and given the poor valuations, precedent of the early SPVs and the platform as a whole, I don't have much faith in that either. It also doesn't help that a lot of the time PM's own actions seem to contribute to our lost return with their mistakes (do people think they've all been caught?) and mysterious fees, as well as things like the month free at the start which they didn't notify us about until after it was implemented.
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Post by sayyestocress on Nov 14, 2017 17:15:29 GMT
I have been with PM for nearly 2 years now and my investment is showing XIRR of 6.67%. I have sold some loans on the SM at a small loss and some at a profit, and after weeding out the poor performers almost all of my holdings are currently paying rent every month. So with care, reasonable returns are possible, but some of the loans particularly in D*rham have been disappointing. Sounds like a similar situation to myself, the majority of my holdings have tenants, with just a few vacant properties. I haven't really bothered with the loan notes & the fact that PM is not centered around the south east was a selling point for me! Yep, most of the properties I'm invested in are tenanted and yielding between 3 and 6% which I'm okay with. I'm planning to hold long term so I'm not too worried about some of the fluctuations the terms that have completed have had capital wise. I'm not in the earlier properties from the £500 share days so perhaps reality hasn't bit me yet, or perhaps the earlier properties weren't so great buys, or a reduction in share value could be due to circumstances outside PM's control (Brexit lack of confidence in the market?). It's human nature to focus and criticise the poor performers like SPV47 and SPV50 and forget about the average and above performers on their books.
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hazellend
Member of DD Central
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Post by hazellend on Nov 14, 2017 19:04:47 GMT
What are the backgrounds, skills and experience profiles of those closely involved with the running of the platform? How do these potentially benefit or negatively impact on you as investors? In other words are those running the show up to the considerable responsibility Or are they 'skilled' weak and therefor out of their depth? The same questions asked above are just as applicable elsewhere within p2p.PM I would say have weak to zero skills.
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Post by propertycalf on Nov 14, 2017 20:04:16 GMT
I would say the platform is well designed and easy to use and navigate.
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hazellend
Member of DD Central
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Post by hazellend on Nov 14, 2017 21:02:10 GMT
I've just been on the PM site and it seems that some of my properties do not have SM access.
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littleoldlady
Member of DD Central
Running down all platforms due to age
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Post by littleoldlady on Nov 14, 2017 21:16:39 GMT
I've just been on the PM site and it seems that some of my properties do not have SM access. As usual with PM it is not very clear. In general AFAICS you cannot sell with <1 month of the term remaining. However SPV 6 is also blocked even though it has 4 months left.
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jnm21
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Post by jnm21 on Nov 16, 2017 23:42:24 GMT
Why is SPV31 off the market?
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carolus
Member of DD Central
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Post by carolus on Nov 17, 2017 0:34:58 GMT
Why is SPV31 off the market? Supposedly it (and SPV42) are off for "revaluation". Since this has been the case for at least three weeks (a month?) I'm curious as to what this revaluation actually involves, but requests for further information have gone unanswered.
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oldtimer
Member of DD Central
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Post by oldtimer on Nov 17, 2017 6:32:44 GMT
SPV12 and 36 are also off the market. This is a response I received yesterday. I got a similar response a couple of weeks ago.
Property Moose (Property Moose)
Nov 16, 09:58 GMT
Thank you for your email.
A number of properties on our site are going through this revaluation process to ensure the projected return figure that is displayed is accurate. We are just awaiting the third party agent who have been instructed to revalue the properties to provide us with this information. Once they have, the site will be updated accordingly and the properties will then be put back on the secondary market.
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kulerucket
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Post by kulerucket on Nov 17, 2017 8:12:41 GMT
I don't understand why it is necessary to block sales of shares on these properties which the re-valuation is on-going. Either the value will go up or down and it's up to the free market to decide which way they think it will go and buy/sell accordingly.
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jnm21
Posts: 441
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Post by jnm21 on Nov 17, 2017 8:29:21 GMT
The very least they could do would be an email to notify us when an investment goes off & when it is back on - not rocket science.
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