ESC Property

[rambada]

I know these guys have been discussed before but given the wide reach of the forum, the question needs repeating.

HAS ANYONE PURCHASED THROUGH THESE GUYS??

If so please enlighten one and all, good or bad. I have seached the forum and web and detail is limited. Neil Jennman (please excuse spelling) is quite negative towards this crowd. Originally based in NZ they are promoting cash positive properties (amongst other things) and acting as a buyers agent. I am not adverse to buyers agents at all and this is part of my assessment of ESC.

So please enlighten me.

 

[Renovice]

I have been meaning to ask the same question on the forum as you and would be very interested in others opinions about or experience of this mob.
Some of the properties do look promising but it would be nice to know a bit more about these people and the pros and cons regarding investing through them.

Cheers!!

 

[Jase]

I get the emails but something about them smells like fish.
Hopefully I'll be proved wrong.

Jase.

 

[Peter Parker]

The deals I've seen in one of the towns they're active in appear to be giving reasonable yields but (i) I have not physically looked at any of their properties, so don't know if they're in good condition and (ii) the deals are hardly better than what you'd find if you visited yourself.

One trap is that some of their rents are based on fully furnished properties, which make published yields look attractive. The management costs of these are higher and there may be more hassles. Personally I would prefer a solid unfurnished IP providing 9-10% yield than a smaller furnished place giving 11-12%.

Regards, Peter

 

[whitt]

esc do offer there properties generally in lower economic areas. the figures they quote can be on the high side for rents, and fail to account for rental insurance and property management fees.