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Post by propertymoose on Jun 22, 2016 10:03:04 GMT
Just a further quick reply to J -
I got that bit but, my concern is how accurate their rics vals are/will be & in turn how that would affect the guaranteed 8% + their profit margin on top. what happens if a few deals fall quite short of PM's expectations, how will/can they make up the difference to pay the guaranteed 8% without much effect on their own cashflow/survivability?
All properties will continue to go through our usual investment process which includes third party independent RICS valuations. We have stayed away from employing our own RICS surveyor (as some platforms do) as we want to ensure there is a further level of third party validation and protection (including their PR insurance!).
In terms of cash flow, we are not raising a huge amount at this stage as this is the first trial. As such, we are very confident that the properties can be sourced and acquired to ensure the cash flow in PMF A. We are actually doing all of the work anyway now, we just use external funds to secure the properties. This just removes that layer and gives an additional opportunity for our members to secure a return and support the community.
Please also see the comments above re. security and underlying assets to provide the capital/return protection.
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j
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Post by j on Jun 22, 2016 10:12:56 GMT
Thank you for the prompt reply Andrew/ propertymoose. Will study the info & decide accordingly  |
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Steerpike
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Post by Steerpike on Jun 22, 2016 10:32:55 GMT
I am supportive and I very much appreciate the further and better details, but I still don't see the 12 month exit strategy.
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Post by propertymoose on Jun 22, 2016 10:44:28 GMT
Properties will be sourced specifically for onward funding on the platform. We know the run rate of the platform and have visibility of marketing activity so can assume funding levels over a given period:
Month 1 - properties acquired for month 2/3
Month 2 - properties acquired for month 3/4 - properties funded from month 2
Month 3 - properties acquired for month 4/5 - properties funded from month 3
ETC
Month 10 - properties acquired for month 11/12 - properties funded from month 9
Month 11 - no properties acquired - properties funded from month 10
Month 12 - no properties acquired - properties funded from month 11
We will run down the acquisitions to tie in with the repayment date on the note. The intention would then be to have multiple notes running concurrently to ensure there is over-lap of funds available to provide stock for the platform.
Does that make sense? Sorry if I'm making it worse!!!
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Steerpike
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Post by Steerpike on Jun 22, 2016 10:50:26 GMT
Ah, I understand now, A is the pilot for a series of notes.
I'm in.
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littleoldlady
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Running down all platforms due to age
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Post by littleoldlady on Jun 22, 2016 11:51:56 GMT
I'm inclined to invest the cash I currently have in AC's QAA and 30-day a/cs. When will it be available?
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ben
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Post by ben on Jun 22, 2016 12:55:57 GMT
I will probably put a little bit in as sounds intersting but Im still unsure what will happen at the end of the year? Do you plan or repaying or offering it again next year?
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Post by propertymoose on Jun 22, 2016 13:14:00 GMT
We are just waiting for final documentation from the lawyers but hope to have this in place by the end of next week. There are some properties that we really want to close first though on the platform All support greatly received! In terms of the exit, Ben, please see my note above. If that doesn't help then I'd be happy to jump on a call to answer any questions. |
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Steerpike
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Post by Steerpike on Jun 22, 2016 13:41:06 GMT
Given that some properties, e.g. SPV48, may take many moons to fund, one wonders how this or some other eventuality might affect the ability of PMFA to redeem a note on time and how this event would be handled.
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littleoldlady
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Post by littleoldlady on Jun 22, 2016 16:49:31 GMT
I will probably put a little bit in as sounds intersting but Im still unsure what will happen at the end of the year? Do you plan or repaying or offering it again next year? I assume that as it is fixed for one year it will be repaid after 12 months with an option to renew.
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ben
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Post by ben on Jun 23, 2016 20:01:16 GMT
propertymoose How much are you hoping to raise through this? and what happens if you do not raise enough or a reasonable amount for it to work?
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Post by propertymoose on Jun 30, 2016 13:55:27 GMT
Hi Ben - we are likely to set the initial raise at £150k and see how popular it proves. If successful, we may look to do further raises in the future.
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Post by propertymoose on Jul 1, 2016 10:46:29 GMT
Hi everyone Just a heads up that this is now live - propertymoose.co.uk/app/property/72Due to the structure of our listing pages for BTL properties, we are making some changes on Monday to reflect the different name and terms used for the product. This will hopefully be done on Monday but doesn't reflect the key terms as we've previously discussed. Have a great weekend. |
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ben
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Post by ben on Jul 2, 2016 11:49:55 GMT
Who else is going for this ? I have decicde to put a few coppers in.
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Steerpike
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Post by Steerpike on Jul 2, 2016 12:15:18 GMT
Presumably there is no 3% whilst funding payable on this one and it is not clear how long it will run or take to fill so some folk may hold back.
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