Where are these investors now?

[toby]

No, No, Nooo I'm not a guru Shane. I have been very vocal historically and spoke at a number of property events in the past that's all.

If anybody is looking for the reason why some people hit the wall, it's a very simple answer. To much debt not enough cash flow.

[Shane D]

I am waiting Shane for you to reach "Guru" status


Interesting to hear and learn from these stories.
Especially from the mistakes, where people go down, would like to hear from Dean Letfus, Keiran Trass, Sue Laurey ? (in Chch), on how they crashed and burned.
But the guru's that do down are less talkative.

hahaha good one BK...I had a good laugh over that one. I am way too conservative to hit it big on the "Guru" circuit

Yes I like hearing about what bought the Gurus down more than the successes as that is where we can learn the most. ...but you are right, they seem to gain humility all of a sudden and clam up.

Lets face it....almost any idiot can make money over the last couple of years in this crazy rising market....but it's the steps and strategies we put in place to handle the next down market that interests me most. Because those steps determine who will survive and whom will be just another Guru on the investing scrap heap.

Shane

[Bluekiwi]

I am waiting Shane for you to reach "Guru" status

Interesting to hear and learn from these stories.
Especially from the mistakes, where people go down, would like to hear from Dean Letfus, Keiran Trass, Sue Laurey ? (in Chch), on how they crashed and burned.
But the guru's that do down are less talkative.

[Shane D]

Toby,

And what is your claim to property investing "Guru" fame?

"Hi Donna, I'm still alive and kicking Still have a descent bunch of rentals and still doing the odd trade.
Got hammered mind you with the GFC BUT am still trucking along."

I am always up for a good PI story...both the ups and downs.

Edit: answered my own question
Just googled you here http://www.ipsproperty.co.nz/Propert...3/Default.aspx

The last paragraph of that interview is a real gem. Excellent advice.

Shane

[toby]

Hi Donna, I'm still alive and kicking Still have a descent bunch of rentals and still doing the odd trade.
Got hammered mind you with the GFC BUT am still trucking along.

I have a nice three beddy in WW. If the current prospective purchasers don't go through you can have it for $399k

Don't spend any/much time here on PT because I'm busy with property management, web design, other interests and family.

[Kerry Christian]

Glenn Cooper

Glenn has been known for years as a crook - I put notice on this forum years ago about him.

his solicitor Alex Lee is just as bad -

And yes - I am alive - not bankrupt and semi retired

kerry

[Perry]

SFO Charges Property Investor
08/11/2012

The Serious Fraud Office has laid six charges of dishonestly using
a document against Auckland property investor Glen Cooper who
allegedly falsified sale and purchase agreements to conceal his
interest in properties purchased through mortgagee sales which
were then onsold at an inflated price. The Aucklander also allegedly
prepared misleading loan application forms that were submitted
to banks.

The SFO investigation looked at six property transactions worth
approximately $834,700 between November 2010 through to
September 2011.

[Wayne]

Hobson's Choice: half a cent in the dollar
or simply nothing if he's made bankrupt.

I would vote bankruptcy if he owed me money. By now I would have given the chance of getting my money back at zero anyway so why not make him suffer a bit as well.

[partya]

I believe he made his initial money through buying thousands of personalised plates when they first came out. Seemingly it's all gone.

Bob Jones's 'Why developers always go broke' anyone?

[Perry]

Hobson's Choice: half a cent in the dollar
or simply nothing if he's made bankrupt.

[Davo36]

Lawyers confirmed the judge's understanding that Blackmore asked to be able to pay $100,000 towards his debts of more than $15 million, under some form of employment arrangement.

Lol. So he can pay like .6% of his debt if his creditors give him a job?

The cheek of it!

[partya]

http://www.stuff.co.nz/business/indu...ankruptcy-plan

[Commercial Dan]

I always said that guy was a charlatan

Richmastery boss Phil Jones’ career isn’t what it was in the boom days up to 2008, and this month his ex-wife won a court order to claw back more than $500,000 from him….

http://www.propbd.co.nz/afa.asp?idWe...&SID=315958281

[KyronGosse]

wow this took off, not willing to read 30+ pages but back to the original topic:

Steve McKnight is pretty heavily focused in USA property and has started a managed fund to purchase USA commercial property
Rustica Lamb has set up a recruitment agency in Auckland

[Bluekiwi]

Nice to see a win for the little guy