“I gather they bought it in 2014 from P**** Taverns after some gang-related issues in the area. Just wondered if you can give us any idea what price was paid? “
Blimey Dude, you are one informed M*****F****r, sharp isn't the word for it “83% ltv vs 90 day mv & -ve value for development (using standard build costing in vr) - still, ss would have shown this as 8.8% ltv vs gdv.”
I couldn’t possibly comment elliottm
I was think of investing, and always like to know what I'm investing in
I can tell you it was bought (presumably by the borrowers here) for 20k. However, I should add that that P**** Taverns were selling off their properties dirt cheap at this stage; for comparison, in 2012 P**** Tavern tried to sell the site for 135k.
In any case, 20k!
Some things that irk me...
> The VR notes that it couldn't internally inspect the premises (why?) > If I have the borrower correct (K.S E********** NORTH WEST LTD) one of the ex-directors of the borrowers has connections to the director @ Collateral
PLEASE NOTE : The opinions and observations that I display on this forum are of a personal nature. I am not a professional within the financial sector, I represent no platform and my remarks should not be taken as advice. I accept no responsibility or liability for the accuracy, content, completeness, legality, or reliability of the information contained in my posts.
Quite a bit of SM availability following the renewal. I've just dipped a toe.
I am an active investor on the MT and COL platforms. I have a small % of my P2P funds tied up in suspended LY loans. All views I express are mine and mine alone and nobody should regard anything I write as financial advice (as if they would be so stupid!).