The main consequence of the federal election for GPS is that we slowed down our loan pipeline. You don’t drive at full speed around a blind corner in a landslide zone during a thunderstorm. This has temporarily reduced the number of new investments available.
Please have patience while we get up to speed. We won’t compromise quality. I am sure you are all well aware of my “we would sooner not take your money, then not give it back” adage.
New loans which are set to settle in the near future (subject to full due diligence) reflect our wait and see approach leading up to the election.
We have stuck with known performers for known product. It is either next project, or next stage, for repeat borrowers and – now for something completely the same – it is all owner-occupier and first home owner townhouses and units in undersupplied areas.
As always we appreciate feedback from all investors. Let us know the type of product you’d like to see coming up in the pipeline.