G'day all,
As a recent graduate (read sucker) of a DeRoos seminar in Sydney last September, I am now on their mailing list and have received a proposal to participate in an property investment syndicate which is to invest in two commercial properties in NZ (1 Auckland and 1 Queenstown).
I say "sucker" above not because I thought the material covered in his seminar to be irrelevant / untrue or intended to mislead, more that the cost of the thing was far more than it was worth. I just didn't get the value out of it that I think it should have supplied for that amount of money. I know there are some on this forum who have already highlighted the pitfalls of such seminars for newbies. However I joined the forum in February. Back to the proposal.
It claims that NZ is a "Hot Spot" for IP's at the moment and for the forseeable future (I dont have any real disputes with this, but I will still do some of my own DD). It proposes to buy a 10 storey office block in downtown Auckland and a 25 acre block for retail development in Queenstown (allegedly to be the biggest in the region).
The proposal claims that investors will receive a 15% return (5% initially until cashflow allows the rest) with a potential for up to 29-34% in the nex few years.
I could go on with the entire 42 pages of hype, but this forum is not suitable for that length of post.
It comes complete with an official looking letter from CB Richard Ellis (Wellington) supporting the projections, and a similar letter of support from a Christchurch quantity surveyor/project manager for the construction costs of the Queenstown commercial complex.
I would like to investigate it further (a lot further), I would like to pass some figures by my accountant, Lender and possibly even ring some NZ RE agents. But they want a hasty commitment - with FUNDS TRANSFER, by 6 March (I received it Friday 28th) with the expected "time is running out - we must hurry" approach.
Although the name behind it (DeRoos) does give some form of credibility in terms of Know how and experience, I believe I've been stung by him once in the form of an expensive seminar and I am NOT going to commit anything to these guys without first investigating it fully. The old saying that "the opportunity of a lifetime comes about once a week" is sounding very true to me.
I was wondering if anyone has received the package or has heard of Montpellier, Gardez etc before. Looking forward to your views.
Cheers
Pedro
As a recent graduate (read sucker) of a DeRoos seminar in Sydney last September, I am now on their mailing list and have received a proposal to participate in an property investment syndicate which is to invest in two commercial properties in NZ (1 Auckland and 1 Queenstown).
I say "sucker" above not because I thought the material covered in his seminar to be irrelevant / untrue or intended to mislead, more that the cost of the thing was far more than it was worth. I just didn't get the value out of it that I think it should have supplied for that amount of money. I know there are some on this forum who have already highlighted the pitfalls of such seminars for newbies. However I joined the forum in February. Back to the proposal.
It claims that NZ is a "Hot Spot" for IP's at the moment and for the forseeable future (I dont have any real disputes with this, but I will still do some of my own DD). It proposes to buy a 10 storey office block in downtown Auckland and a 25 acre block for retail development in Queenstown (allegedly to be the biggest in the region).
The proposal claims that investors will receive a 15% return (5% initially until cashflow allows the rest) with a potential for up to 29-34% in the nex few years.
I could go on with the entire 42 pages of hype, but this forum is not suitable for that length of post.
It comes complete with an official looking letter from CB Richard Ellis (Wellington) supporting the projections, and a similar letter of support from a Christchurch quantity surveyor/project manager for the construction costs of the Queenstown commercial complex.
I would like to investigate it further (a lot further), I would like to pass some figures by my accountant, Lender and possibly even ring some NZ RE agents. But they want a hasty commitment - with FUNDS TRANSFER, by 6 March (I received it Friday 28th) with the expected "time is running out - we must hurry" approach.
Although the name behind it (DeRoos) does give some form of credibility in terms of Know how and experience, I believe I've been stung by him once in the form of an expensive seminar and I am NOT going to commit anything to these guys without first investigating it fully. The old saying that "the opportunity of a lifetime comes about once a week" is sounding very true to me.
I was wondering if anyone has received the package or has heard of Montpellier, Gardez etc before. Looking forward to your views.
Cheers
Pedro
