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Interesting article in The Independent.
What amazes me is these chaps have caused havoc with their "years of finance, design and development" and now they want to teach others how to screw people! (my opinion of course 
)
Cheers,
Donna
Aucklanders Daniel McEwan and his son, Kelly, promote their "years of experience in finance, design and property development."
The pair are about to start a new round of nation-wide investor seminars, through a company called the School of Astute Property Management.
At $200 per couple, the seminars will be similar in style to the membership-based Investors Forum they ran during the 2000s property boom. The brochures are glossy; the target market is both Kiwi and international property investors.
Tell that to an Invercargill couple losing $2,000 a month after delays and unforeseen costs pushed up the price of their McEwan-developed apartment in Oriental Bay, Wellington.
Apartment owners in a 21-unit development in Hallenstein Street, Queenstown, are also understood to be unhappy and discussing their costs concerns with the developers this week.
The Independent was told some were having difficulty with the ultimate cost of their units, $100,000-$200,000 above the sum they had expected to pay.
Some of the mainly mum-and-dad investors now needed to sell their apartments closer to $1 million, said one person familiar with the development.
But buyers above $550,000 have been hard to find.
It's understood the project's deed of participation creates one investor-owned entity so all investors are liable if some cannot pay.
Read more
The pair are about to start a new round of nation-wide investor seminars, through a company called the School of Astute Property Management.
At $200 per couple, the seminars will be similar in style to the membership-based Investors Forum they ran during the 2000s property boom. The brochures are glossy; the target market is both Kiwi and international property investors.
Tell that to an Invercargill couple losing $2,000 a month after delays and unforeseen costs pushed up the price of their McEwan-developed apartment in Oriental Bay, Wellington.
Apartment owners in a 21-unit development in Hallenstein Street, Queenstown, are also understood to be unhappy and discussing their costs concerns with the developers this week.
The Independent was told some were having difficulty with the ultimate cost of their units, $100,000-$200,000 above the sum they had expected to pay.
Some of the mainly mum-and-dad investors now needed to sell their apartments closer to $1 million, said one person familiar with the development.
But buyers above $550,000 have been hard to find.
It's understood the project's deed of participation creates one investor-owned entity so all investors are liable if some cannot pay.
Read more
)Cheers,
Donna
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