Warning about NZ property spotters

Hello to everyone

I’m very concerned about the activity of some property finders in NZ, these are ones who put their own interest above those of the clients. I’m not talking about Minimogul, Castledreamer, Wilandel, these people have proven themselves to be people of complete integrity and as well as knowing the NZ market very well are sucessful investors in their own right.

I’m talking about the practice of some very unprofessional people who are giving the honest people a bad name. Last week on NZ TV they did a story about an Australian property finder who trades under the name of Jayco (from South Australia ) he arrived in NZ and proceeded to place “unconditional” offers on over 40 properties, the way the media presented the story was that he has fallen over on these deals and caused tremendous hardship for many people who had believed their property was sold. Then I hear stories about so called spotters who roll up to town and say “I’ll buy all your homes showing a 9% return or better”- How unprofessional, these people have little idea of the local market and the requirement of the local rental market.

OK so how do you know who to avoid ?
Make sure the people you deal with know the NZ market, ask them where they own and why they are buying in particular markets. Avoid people who are making their first trip to NZ to buy.
Make sure they can provide a list of people who are happy customers. Make sure that any contracts you enter give you an “out” so you aren’t bound to a deal before you do all your own checks.
And finally make sure that your buyers are people of honesty.

regards westan

I live in New Zealand and for a fee find cash positive deals there, email me at [email protected] to join our database