Eddie Hobbs new Brendan Investments vehicle

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This most enjoyable of threads now risks extermination. Victory to the Hydra.

I want to ask Converse2007 a str8 question.

The brochure states: "other schemes suggest returns of 12% to 16% p.a., BI is superior to these schemes, and so should do better than them".

This is probably the key representation, I presume reinforced at the roadshows. It's really all the punter wants to know.

So Converse, is that a fair representation of BI's prospects in your view?
 
Sumfin' happened here. Moderators?

Refer has accused me (by direct contact and in a threatening way) of defamation in calling BI a "rip off" . I agree the term is not flattering, I think I picked it up from some TV series.;)

However, if Refer would refer:D back to my posts he will see that I have accepted that BI's charges are on a par for the genre. But I certainly do think they are extremely high compared to conventional collective investments, even geared property based ones.

BTW it was I who edited out the "rip off" comment as it was pointed out to me that I could be attributing it to Shane Ross, who whilst lambasting the scheme and its promoters probably did not use that precise expression.
 
We are thinking of investing 100k. We already own Irish property and two in Manchester, all appartments. We're not big enough to get into commercial property ourselves and this caught our eye. I have read the pros and cons and Brendan Investments doesn't appear overpriced but the downside is giving up control and locking away money? What is the "grey market" ?
 
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I am very disappointed in these threats sent by the Private Message function.

I have moved them here

Converse and all the others have been banned.

Brendan
 
Beauregard said:
We are thinking of investing 100k. We already own Irish property and two in Manchester, all appartments. We're not big enough to get into commercial property ourselves and this caught our eye. I have read the pros and cons and Brendan Investments doesn't appear overpriced but the downside is giving up control and locking away money? What is the "grey market" ?
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While the official duration of the investment is 10 years, if someone wants to sell their shares before this and a matching buyer can be found, this could be facilitated. Such a grey market will only exist if there are sufficient buyers to match the prospective sellers.
 
Beauregard said:
We are thinking of investing 100k. We already own Irish property and two in Manchester, all appartments. We're not big enough to get into commercial property ourselves and this caught our eye. I have read the pros and cons and Brendan Investments doesn't appear overpriced but the downside is giving up control and locking away money? What is the "grey market" ?
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Are you not worried about your position especially as there is a glut of apartments in manchester? It could take years to stabilise as according to last weeks Mail on Sunday - in mid-1990's, within central Manchester 500 units were built per year, now it's nearer 5000 units in 2007. Many are empty. Prices haven't been pushed up as a result of an under supply, but by an oversupply of cheap money. With 18% CGT coming into effect next year, this will see many more apartments flooding on to the market in an attempt to cash in.

Under the circumstances, I don't think it wise to punt with EH especially if your LTV is anyway high.
 
Johnadams said:
Can someone tell me is this a wrong assessment and if so why?
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I'd say that's a reasonable assessment apart from as Gonk has pointed out, the ridiculously low performance targets that have been set by the management team. 8% growth is a very low target in an environment where commercial yields often exceed this amount. It also likely that team would need performance close to this just to meet annual borrowing and sundry costs.
 
Johnadams said:
My own views from reading the SB Post in their syndicates section last week is that the fees seem normal compared to the market. The product strategy seems in line with a lot of other products out there and that the team excluding senor Hobbs seems pretty experiened.
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Anyone able to give link to SB article?
 
Johnadams said:
Again I would appreciate INDEPENDENT feedback.
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I would sincerely hope this comment was not levelled in my direction. I have no position in or connection with any publically accessible property fund.

I do have an interest in German residential property but this is through a private investment company that is not open to public investment.
 
Re: Augusta is as unregulated as BI

BI roused me because of the EH factor, and that is not personal but just a recognition of how vulnerable ordinary folk are in this situation.

I was told that Augusta are advertising double your money over 5 years, same as BI's quadruple your money over 10 years. Is this true? I haven't heard the ad. I did look at their website, it talks of 14.5% p.a. return. This is quite unacceptable. The promotion of these entities is obviously quite unregulated, as warned by the SoA. Anyone representing these funds and criticising BI is the proverbial pot calling the kettle black.

I was a dormant contributor until I read the Evening Herald claim of quadruple your money and I have focussed my attention on BI but the whole genre is badly in need of consumer protection legislation.
 
Re: Senator strikes again

Another vicious attack by SR on Eddie and BI in today's Sindo.

The gist:

Front page business news of how Irish investors in foreign holiday homes have been toasted (coincidence that this story appears today?)

SR denounces BI again on back page, referring to that front page article (so no coincidence), along with picture of Eddie that would make Richard Nixon look trustworthy.

Revised and less optimistic property report is mentioned.

Roadshow being deserted, according to staff at the hotels.

Trebling of max investment suggested as being a panic move to get critical mass.

These seem to contradict an article in yesterday's Indo where it was stated BI have commenced due diligence on 115M on German property.
 
He seems to be confusing oil and water. The fall of the overseas appartment market was inevitable especially places like Bulgaria but commercial property in Germany etc is a different beast. Ross has a long record in writing against property as an investment but he does have it in for Hobbs, in a long list of people he vilifies. He once tore Dr Tony Ryan apart and told punters to avoid RyanAir if I recall.

Interesting though that he keeps attacking Hobbs. It does appear quite personal since his property scheme is pretty much par for the course. You describe him as less trustworthy than Nixon - do you think that's fair?
 
piglet said:
You describe him as less trustworthy than Nixon - do you think that's fair?
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I described the picture that was specially selected by SR that way.

It is clear that SR's coverage is far from fair. For a start, 3 vicious articles in nearly as many weeks is way OTT.

The tenuous connexion between Bulgarian appartments and German commercial is, as you point out, quite invalid.

Finally that picture was very deliberately selected.

Pulling the Senator's tail will turn out to be BI's greatest regret.
 
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Fair comment Harchibald but I'd say most readers see through the venom as well.
 
Just as a matter of interest, is there anybody at all from AAM actually going to invest in this thing seeing that the closing date is next Wednesday?
 
Yeah I have.
Although I won't dream of borrowing to invest in it to be honest as I think it's fairly risky investment.
I won't be putting all my eyes into the basket but think for me it a good way to invest into the european commerical property market.
 
Lance said:
Just as a matter of interest, is there anybody at all from AAM actually going to invest in this thing seeing that the closing date is next Wednesday?
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Didn't seem worth the effort when the max you could invest was 250K but now that I can invest 750K...
 
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