Property Bridges P2P

pennypitstop

Frequent Poster
Messages
278
I was looking for a post on this. We have put 5k into the latest building scheme. I am skeptical but other half reckons it’s better than the post office bond for 5 years, ied be interested to see how it goes and if anyone else has experience of this group.
 

Daddy Ireland

Frequent Poster
Messages
308
Not trying to bump this. With 8% returns and first fixed charge in place and with minimal returns on bank deposits I would have thought this thread would have gathered more interest/observations as to riskiness.
 

Brendan Burgess

Founder
Messages
38,702
Not trying to bump this.
Hi Daddy. Bumping something after a few months is fine. Bumping it a couple of days after posting would be in breach of the guidelines.

I have not heard of this product. But if it's giving 8% returns, there is a catch. It is high risk even if the risk is not clear to you.

Brendan
 

Daddy Ireland

Frequent Poster
Messages
308
Thanks Brendan. Glad I am not in breach as I really think askaboutmoney is great. My favourite for people's opinions. As you have not heard of it the website is www.propertybridges.com
Catch isn't obvious to me. Believe they are also looking at launching a pension investment product also shortly.
 

Alkers86

Registered User
Messages
69
One of the founders is part of the LinkedFinance (LF) crew. Users of that service are very annoyed at how bad LF have been in chasing monies owed, companies who have borrowed have stopped making repayments and can still be seen to be trading and LF are doing nothing more than sending emails to try and chase the money. I know of a number of long-term investors all trying taking their money out of LF because of this. I would have similar concerns about this site, you may make the rates in a few instances but once things go bad, I would not expect any assistance from the P2P company in recouping any monies owed.
 

Orangefruit

New Member
Messages
7
One of the founders is part of the LinkedFinance (LF) crew. Users of that service are very annoyed at how bad LF have been in chasing monies owed, companies who have borrowed have stopped making repayments and can still be seen to be trading and LF are doing nothing more than sending emails to try and chase the money. I know of a number of long-term investors all trying taking their money out of LF because of this. I would have similar concerns about this site, you may make the rates in a few instances but once things go bad, I would not expect any assistance from the P2P company in recouping any monies owed.
Interesting reply. I have been looking at property bridges too and wondering if investors have received their money back. Most of their projects are sold out
 

pennypitstop

Frequent Poster
Messages
278
I’m glad this thread has been bumped up because I am still keen to hear from other investors have successfully completed schemes.
I related note, if I invest a lot and get the 8% back how do I declare this with revenue? Thanks for your help
 

Brendan Burgess

Founder
Messages
38,702
Anyone thinking of such an investment should read about the collapse of Northern Powerhouse Developments


I was listening to some of the investors who lost their money on this afternoon's MoneyBox


I was thinking how could people be so stupid and then I thought of this thread.

Brendan
 

JimmyMcGuinness

New Member
Messages
1
One of the founders is part of the LinkedFinance (LF) crew. Users of that service are very annoyed at how bad LF have been in chasing monies owed, companies who have borrowed have stopped making repayments and can still be seen to be trading and LF are doing nothing more than sending emails to try and chase the money. I know of a number of long-term investors all trying taking their money out of LF because of this. I would have similar concerns about this site, you may make the rates in a few instances but once things go bad, I would not expect any assistance from the P2P company in recouping any monies owed.
One of the founders is also posting on this and doing a terrible job of trying to seem impartial!! Three guesses.
 

Brendan Burgess

Founder
Messages
38,702
Irish people are suckers for this type of investment.

Apparently they have invested €100m in a German property scheme through an Irish broker Wealth Options.


Wealth Options Trustees, the administrator and distributor for GPG in Ireland, stopped raising new funds for the company in recent weeks over concerns about the legal security on the underlying properties.

“This was totally unexpected, as we had received written confirmation from Charles Smethurst [owner and chief executive of GPG], less than two weeks previously, that the November 2019 coupons and capital would be paid on time,” wrote Wealth Options Trustees, in an email sent last week to financial advisers. It added that it was “very unhappy” with explanations provided by GPG.


Not only were these guys paying 15% return, they were also paying Wealth Options 7% commission.

Brendan
 
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