Summary
High-profile property flipper and social media influencer **Ashley Dean Binnie** is facing the forced sale of three properties via mortgagee sale. These sales are a direct consequence of the liquidation of two of Binnie's companies, which collectively owe creditors more than **$2 million**. The properties in question include two former state houses in **Palmerston North** and a renovated cottage in **Mangakino**. Binnie, known for his YouTube channel offering property investment tips and profit highlights, appears to be caught in a financial downturn that has led to the downfall of his ventures, including **Ascend Advisory Limited** (formerly AshleyDean Limited).
Key Takeaways
- Three properties linked to property influencer Ashley Dean Binnie are being sold via mortgagee sale.
- Binnie's companies, Ascend Advisory Limited and AshleyDean Limited, have been liquidated, owing over $2 million to creditors.
- The properties include two ex-state houses in Palmerston North and a cottage in Mangakino.
- Binnie is known for his YouTube channel offering property flipping and investment tips.
- The situation highlights the risks associated with property speculation and following online financial advice.
Balanced Perspective
The liquidation of Ashley Dean Binnie's companies, Ascend Advisory Limited and AshleyDean Limited, has resulted in three properties being placed under mortgagee sale. These properties, two ex-state houses in Palmerston North and a cottage in Mangakino, were registered to Binnie's company at the time of liquidation. Liquidator Digby Noyce confirmed these are the same assets now being sold by mortgagees. The company's inability to meet debt obligations, exceeding $2 million, triggered the liquidation process. The specific details of the mortgages and the exact reasons for the companies' financial distress are subject to ongoing investigation by the liquidator.
Optimistic View
While Binnie's ventures have hit a significant snag, the properties themselves represent opportunities for savvy investors or DIY enthusiasts. The mortgagee sales, though a sign of financial distress for the original owner, could present a chance to acquire assets below market value, especially for those willing to take on an 'abandoned project'. The underlying demand for property, particularly in areas like Palmerston North, remains, suggesting these distressed assets could be revitalized and ultimately prove profitable for new owners. This situation highlights the cyclical nature of real estate investment, where downturns can create entry points for the resilient.
Critical View
The collapse of Ashley Dean Binnie's companies and the subsequent mortgagee sales paint a grim picture for those who invested in his ventures or followed his advice. The **$2 million-plus debt** owed to creditors suggests a significant financial mismanagement or an unsustainable business model, potentially leaving many out of pocket. Binnie's public persona as a successful property influencer, built on videos like 'How to Flip Houses with Absolutely No Money' and 'How I use AI to create $60k property deals', now appears to be a facade, raising questions about the authenticity of his financial claims and the risks inherent in following such online advice. This situation could erode trust in property influencers and lead to increased scrutiny of their financial dealings.
Source
Originally reported by OneRoof