PHOTO: GRAHAME COX/STUFFMartin Dunn charges 4 per cent of the purchase price as a finder’s fee.
In Auckland real estate agent says his new scheme, in which he buys units and industrial properties on behalf of investors, will help young people who’ve “given up” on the property market – and middle-aged New Zealanders who are ill-prepared for retirement.
Martin Dunn, of City Sales, has launched Real Estate Together, a platform that offers to match people who want to buy a property with other investors, and then help them find the right one to invest in.
He charges 4 per cent of the purchase price as a finder’s fee and then ongoing property management fees deducted from the rent, of 8.5 per cent.
Investors could buy a share of a $600,000 unit with $75,000 minimum investment – assuming four investors were putting in the same amount each and funding 50 per cent of a $600,000 unit purchase. They would own the house as tenants in common, all liable for the debt. A net rental income of 5 per cent should be achievable, he said, as well as capital value growth.
READ MORE VIA STUFF