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  1. #1
    Join Date
    May 2010
    Location
    Auckland
    Posts
    115

    Default Don Ha Real Estate (In Receivership)

    Just don't sign up to the Don Ha Academy. Don Ha Real Estate has gone into receivership yesterday...Not the kind of mentor I would want personally...

  2. #2
    Join Date
    Sep 2007
    Location
    Auckland
    Posts
    8,251

    Default

    Quote Originally Posted by Tom View Post
    Just don't sign up to the Don Ha Academy. Don Ha Real Estate has gone into receivership yesterday...Not the kind of mentor I would want personally...
    Tom, really? Can you link to something about this?

    I spoke with a young guy from this agency about a year ago. He had an ad in the paper saying he had buyers for commercial property. So I tried to list a property with him but he was really rude! Just peppered me with questions and got impatient with me when I couldn't answer them 100% in like 2 seconds.

    So I told him I wouldn't list with him. An then I asked how long he'd been in real estate, he said 5 months! So here was this really young inexperienced guy laying down the law to someone who wanted to list a property with him - at a time when listings were in very short supply.

    A couple of days later he apologised.

    But the point of this little story was really to show how these guys were being trained. Basically they seemed to want to list and sell properties very very quickly. No mucking around. Too bad what the vendors or anyone else want, just list them at a cheap price and flick them off seemed to be the attitude.

    So I'm somewhat glad that they've gone out of business. With real estate these days many agents take a 'tail wagging the dog' approach.

  3. #3
    Join Date
    Sep 2004
    Location
    Central Otago, ChCh, AKL
    Posts
    2,439

    Default

    Don Ha Real Estate has gone into receivership yesterday...
    Tom - Based on what are you saying this? Can you provide some evident??
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  4. #4
    Join Date
    Sep 2007
    Location
    Auckland
    Posts
    8,251

    Default

    That makes no sense TLL.

    Wow, it's funny how many 'rich' guys have businesses that fall over. This guy is supposed to be the real estate guru but his agency goes bankrupt.

    Have to try and sell more seminar tickets to make up for it. Perhaps he'll say something like "The real estate business was taking up too much of my time..." or perhaps he'll take off to the US to replenish his fortune like some others...

  5. #5
    Join Date
    Sep 2004
    Location
    Central Otago, ChCh, AKL
    Posts
    2,439

    Default

    I just talk to someone who knows, they have gone to receivership BUT probably re branding.
    New Zealand's #1 Marketplace for Property Investors & Sellers!
    FREE Access to HOT Property Deals
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  6. #6
    Join Date
    Oct 2008
    Location
    Auckland/Melbourne/ whereever the money is
    Posts
    1,380

    Default

    If the experience with flatfee or fixedfee or whatever they called themselves, is anything to go by, I would move management companies ASAP.

    At a minimum there will be a hold up in the payment of rents due to you.
    From personal experience elsewhere I know it can be months before it is settled, in the mean time your tenant continues to pay the rent & it gets stuck, meanwhile you still have mortgages to pay !!!

  7. #7
    Join Date
    May 2010
    Location
    Auckland
    Posts
    115

    Default

    Matthew

    I was told yesterday that the rental roll has already been sold/is in the process of being sold. Apparently the receivers are not moving slowly.

  8. #8

    Default

    I hope Don bounces back from this little set back.

    I think he just grew too big too fast and had no one qualified to manage the business properly.

  9. #9
    Join Date
    May 2008
    Location
    Torbay, Auckland
    Posts
    3,854

    Default

    They were selling more property in auckland than any other agency I had read several times, so not sure how they got into trouble.

    But this is the agency, not Don, I am sure he is fine

    But I never liked them as I got the impression that any good deals you might of found through them, would be jimmed and sleeved to their investor club drones, for a fee of course, but thats just me.

    I am sure there key agents who are property millionares are doing quite fine as well.

  10. #10
    Join Date
    Oct 2008
    Location
    Auckland/Melbourne/ whereever the money is
    Posts
    1,380

    Default

    I can only hope you are right gluey, however it has been shown time & again that NZ is a soft touch as far as law enforcement goes- that is if there are even any laws to cover this immoral activity.
    His come-upance may not be due until he is no longer present in this world (not that I would actively wish that upon anyone)
    Last edited by Keithw; 18-03-2011 at 05:09 PM.


 

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