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Post by es2013david on Oct 28, 2016 16:49:35 GMT
mnm[K**** R***** L** (otherwise you'll tie yourself in knots!)] They haven't answered my question concerning property address yet, despite being prompted by rb twice, so I imagine they are not going to! You'll see from C**** H***, just released, that their properties don't provide us with much in the way of security (because they secure a greater floating debt), so I'm not seeking the addresses. The great leap in loan amount from their existing loan is something to ponder though, despite their 100% repayment record.
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binkle
Member of DD Central
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Post by binkle on Oct 28, 2016 22:34:22 GMT
Thank you all participant in this thread. This is the sort of dialogue including Rebs, hawks and uber - hawks that gives me confidence to make decisions. binkle, what's your experience/understanding level (1-10 ten being very experienced) for Investing generally and in P2P specifically? How do you arrive at a decision as to where to allocate your money when it comes to making Investments? What sources of information (Please name all) do you use to help you make your Investment decisions? Thanks for your help, I'm curious and keen to know how well you research, think through, plan and make your Investments here in P2P. Best regards. Hi magenta, to answer your questions, I would probably score highly on general literacy but lower on p2p, probably made about 500+ non automated investments but all low currency (nothing over 1k). I tend to pay attention to human factors more than maths or external research, so for example,I tend to be tempted by investment in areas I find ethical, interesting or at least a bit morality neutral. I avoid anything that sounds to clever, or flashy. I avoid lending when info is too vague or answers not forthcoming ( hence dislike of Flimsy Counters). I am certainly no expert but value the wider discussion on this forum.
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mnm
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Post by mnm on Oct 29, 2016 11:20:27 GMT
Can it be that even Route 101 appeared unimpressed with the answers afforded him, unless HNW $ & £ wish to refuel this Gas station together then perhaps rebsrep could stump up the cash for a Paupers burial embalmed by a chirpy looking Undertakers one block up, what are your thoughts mnm ? How would you define "Normal"? Best regards. mnm Just because a company is "big" and/or "expanding" doesn't mean it is successful, it may be drowning in debt. Some applicants react as if irritated by the questions, some feel the questions are intrusive, some want their business affairs kept secret, some are downright evasive, whilst others give the answers they think you want to read so they embroider the truth and are therefore dishonest. You takes your pick then trace whatever you can on google and follow up any tit-bit of information on "credit" and other free information sites. If you find things that you don't like either spend money on accurate current data searches or walk away! It's your call. @magenta14. Please what is Route 101?
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mnm
Posts: 65
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Post by mnm on Nov 4, 2016 6:53:09 GMT
Does anyone have any news on this one?
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Post by es2013david on Nov 4, 2016 17:58:42 GMT
So now it's official - ReBS won't be encouraging applicants to disclose any address "for security reasons" - whatever that means - and then go on to say that the investment property was marketed at a lower price last year (and unsold?) than the applicant suggests it is "worth" now, whilst assuring us that they use Zoopla (a selling site!) to confirm value.
(For those who haven't found "mouseprice.com" previously it is a free "valuation" site that includes actual historical land registry transaction prices and a great deal more)
With the opportunity to withdraw bids from this application now available, my money is back in my back pocket (or at least I have asked for such).
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shimself
Member of DD Central
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Post by shimself on Nov 4, 2016 20:06:20 GMT
So now it's official - ReBS won't be encouraging applicants to disclose any address "for security reasons" - whatever that means - and then go on to say that the investment property was marketed at a lower price last year (and unsold?) than the applicant suggests it is "worth" now, whilst assuring us that they use Zoopla (a selling site!) to confirm value. (For those who haven't found " mouseprice.com" previously it is a free "valuation" site that includes actual historical land registry transaction prices and a great deal more) With the opportunity to withdraw bids from this application now available, my money is back in my back pocket (or at least I have asked for such). I've been looking in the discussion but can't see what you're referring too, can you guide me a bit more please? Oh and thanks for mouseprice
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Post by es2013david on Nov 4, 2016 22:42:46 GMT
shimselfHi, thanks for your interest. I asked for the address of the BTL (buy to let) investment property at the earliest moment (17th October) - it's the first question at the bottom of the discussions. My request was ignored by the borrower, and ReBS seem to have made a new "rule" on the hoof, so to speak - no disclosure of security addresses (although details of such property is just as vital as knowledge of the location of the business premises - which is normally self evident or easily obtained). Applicants, typically, will always overstate estimated values (of literally everything, property, cars, contracts, future income etc.), we need the tools to assess these as part of prudent DD. The cases in default usually demonstrate over ambitious expectations, guaranteed contracts and income streams that simply vaporise .....
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Post by dodgeydave on Nov 5, 2016 5:46:53 GMT
Does anyone have any news on this one? mnmHave you tried logging on ? Its a request going nowhere.
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mnm
Posts: 65
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Post by mnm on Nov 5, 2016 8:05:14 GMT
Does anyone have any news on this one? mnm Have you tried logging on ? Its a request going nowhere. dodgeydave. I did tried logging on a few times. There was nothing. I wondered if anyone had anynews. @magenta14. Agreed. The no replys from the beginning didnt help confidence to the lenders. Perhaps a broker would of helped?
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Post by dodgeydave on Nov 5, 2016 9:48:52 GMT
dodgeydave . I did tried logging on a few times. There was nothing. I wondered if anyone had anynews. @magenta14 . Agreed. The no replys from the beginning didnt help confidence to the lenders. Perhaps a broker would of helped? The loan has been extended. It looks like another 3 weeks. At 8 % funded , it looks like someone is flogging a dead horse.
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