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  1. #1
    Join Date
    Aug 2003
    Posts
    7,620

    Default Bob Jones sniffs out Dunn

    Hi All,

    Great article by Sir Bob Jones on Martin Dunn (RE Agent who specialises in Apartment sales) and his speculative investment Dunn Housing Fund and why it's dumb deal.

    This is so glaringly a bad deal it should be renamed Dumb Funds Ltd.
    Source



    cheers,

    Donna
    PropertyTalk Blog - property articles

    BusinessBlogs - the best business articles are found here



  2. #2
    Join Date
    Feb 2010
    Location
    Dunedin
    Posts
    410

    Default

    Yes I saw that but had already came to the same conclusion.
    The City Sails guy pushing this would do very well, commissions, set up fees, closing down fees, property management fees etc all for a dismal return to the punter.

  3. #3
    Join Date
    Sep 2008
    Posts
    7,562

    Default

    i wonder who this is?

    Recently I ran across the best- known Auckland operator in this field.
    Tellingly, he told me he had now sold everything
    as he considers current price levels to be absurd.

    iconicity?
    have you defeated them?
    your demons

  4. #4
    Join Date
    Jun 2005
    Location
    Auckland
    Posts
    5,086

    Default

    The promoter is a real estate agent specialising in apartment sales and seeks $7.5 million to buy 10 Auckland houses, hold them for 11 years, then cash up.
    Hope he's factored in the appropriate tax on the capital profit.
    DFTBA

  5. #5
    Join Date
    Oct 2013
    Posts
    1,613

    Default

    Bob points that out further down.

    I actually signed up for reading on this fund a couple months back, because I was interested in how it was expected to operate. Where is Bob getting this information? I haven't yet received anything and there wasn't anything publicly available last time I checked.

    But my god that looks like a terrible investment opportunity based on the factors he describes. Especially a complete lack of gearing.

  6. #6
    Join Date
    Feb 2010
    Location
    Dunedin
    Posts
    410

    Default

    Quote Originally Posted by Anthonyacat View Post
    Bob points that out further down.

    Where is Bob getting this information? I haven't yet received anything and there wasn't anything publicly available last time I checked.
    I think I saw an article in the Herald Finance section outlining the way this would operate. Described returns etc

  7. #7

    Default

    Quote Originally Posted by Anthonyacat View Post
    Where is Bob getting this information? I haven't yet received anything and there wasn't anything publicly available last time I checked.
    Some details here.
    The comments section is somewhat critical.

    $7.5 mln sought for Auckland house scheme
    Last edited by speights boy; 15-02-2014 at 11:15 AM.

  8. #8
    Join Date
    Jul 2012
    Location
    Tavua, Fiji
    Posts
    3,347

    Default

    Regarding leverage this could be very attractive to people who lost money through over leverage in the last few years fiasco's. I think this is very smart marketing on Dunn's part.

  9. #9
    Join Date
    Jun 2013
    Posts
    2,102

    Default

    Leverage is the main reason real estate investment is attractive! Without it, you may as well put your money in the bank.

  10. #10

    Default

    ^ First sentence agreed.
    Second sentence disagree.

    Still higher returns in long term mortgage free property than in bank returns.


 

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