Category Archives: BUY & SELL

Dave Hughes responds to critics who said he spent far too much on a house from The Block.HA-HA SAYS THE CLOWN

DAVE Hughes is requesting an apology from  the property experts who criticised the amount he paid for one of The Block houses last year 2017.

The comedian dropped $3.067 million ($447,000 over the reserve) on the five-bedroom home in Elsternwick in southeast Melbourne that was renovated by Josh Barker and Elyse Knowles.

RELATED: How Hughes went from being on the dole to one of Australia’s most high-paid entertainers

The Block house by Josh and Elyse at 46a Regent St Elsternwick.

“I copped so much flak for that,” Hughes said yesterday on his Hit Network drive show with Kate Langbroek. “It was ridiculous and it’s gone on and on and on.

The Block house by Josh and Elyse at 46a Regent St Elsternwick.

“A lot of experts had their say about my purchase … There are articles that have been written all year having a go at me. One article from one mob called Property One or something, they had a dinner party discussion about how much I overpaid for it.”

The Block house by Josh and Elyse at 46a Regent St Elsternwick.

Reading from the article, Hughes said, “Based on our assessment we think Hughesy has paid somewhere between $417,000 and $517,000 too much. We’re confident it’s closer to the $500,000 level.”

The Block house by Josh and Elyse at 46a Regent St Elsternwick.

The comedian even invited a property expert onto his Network Ten show, Hughesy, We Have a Problem, who told him he’d paid around $250,000 too much for the block house.

The Block house by Josh and Elyse at 46a Regent St Elsternwick.

But now, 10 months on, Hughes is adamant the experts were wrong based on the sale of yet another Block house on the weekend.

The Block house by Josh and Elyse at 46a Regent St Elsternwick.

“The house next to the house I bought, Sticks and Wombat’s house, got sold over the weekend,” he said on radio yesterday.

“Sticks and Wombat’s house got sold just the other day … for $180,000 more than it sold for on the TV less than a year ago,” Hughes stated.

The Block house by Josh and Elyse at 46a Regent St Elsternwick.

“They got $2.83 million on the weekend and with my house being worth more than theirs, because it’s a better house in a better location, Katie, I would like an apology,” he said to Langbroek who also criticised the amount he paid.

Hughes said that the house he bought was better than Sticks and Wombat’s house because his was on the northern end. He also added that his house came with $200,000 worth of furniture whereas Sticks and Wombat’s house was sold unfurnished on the weekend.

“You’ve got to admit that that is pretty good justification,” Hughes said, before giving a shout-out to his bank.

“I’d like the bank to apologise also because they valued my house a lot less when I tried to get the loan. They’re fools! I told the bank they’re idiots!”

Hughes is currently renting out the property in Elsternwick but he did confess to Triple M’s Hot Breakfast in January that it took him a while to locate tenants.

“I had trouble renting it,” he said. “It took a fair while.

“At one point the real estate agent rang me and said, ‘someone wants to move in but they’ve got a dog’. I felt like saying, ‘I don’t care whether they’ve got a meth lab’.

“It’s a little dog and that’s fine. They put in their own doggie door.”

According to realestate.com.au, rent for the five-bedroom house would be somewhere between $2500-$3000 per week.

RELATED TOPICS & LINKS

www.australianmortgageloans.com.au

www.ozrural.com.au

www.profitcentre.net

www.handyhomehints.com

www.sunblestproducts.com

www.realestate-au.info

www.auctiontraders.net

Henry Sapiecha

 

‘The richest database I’ve seen’: why AussieCommerce bought Jeremy Reid’s PinchME

pinchme Jeremy Reid image www.money-au.com

Jeremy Reid has managed to attract stellar investment despite still serving an ASIC ban. Photo: Louie Douvis

Its revenues might be negligible in the context of a group tracking toward $200 million revenue this financial year, but AussieCommerce co-founder Adam Schwab thinks the Australian arm of product sample distributor PinchME can turn his e-merchant into “a media company”.

AussieCommerce began negotiations before Christmas with PinchME’s now New York-based founder, Jeremy Reid, who despite still serving a two-year ASIC ban on providing financial services following the collapse of his hedge fund-of-funds Everest Babcock & Brown, managed to attract stellar backer for his sampling start-up: Kerry Stokes, the Liberman and Smorgon families, Toll Holdings founder Paul Little, SEEK co-founder Andrew Bassat and advertising heavyweight David Droga.

That group will continue to part-own PinchME’s US business, which now employs 25 people in New York and according to president Adam Caplan, has completed 200 campaigns and shipped four million samples for brands including Johnson & Johnson, P&G, Unilever, L’Oreal, Revlon, Coty, Pfizer, Kimberly-Clark, Kraft, and Kellogg’s.

The eight employees of PinchME Australia are already installed at AussieCommerce’s offices at Wynyard in Sydney, and its 500,000-strong database of subscribers are a source of wonder to Schwab.

“The fact that you’re giving these people free samples means they’re incredibly engaged,” Schwab says.

“The open rates on PinchME emails are twice or three times what you get at a typical e-commerce business, and the information they’ve gathered on subscribers is the richest I’ve seen.”

Its multinational clients pay PinchME to provide narrowly targeted sampling campaigns, and the fact that each sample is accompanied by six questions – which the subscriber must complete if they want another freebie – means the ability to segment its database is always improving, Schwab says.

“The more targeted the offer, the more powerful. PinchMe is going to be a great complement to [group buying platform] Spreets that we bought last year,” Schwab says.

Of particular interest to Schwab is the full-fledged marketing campaigns which PinchME can produce alongside the sample deliveries.

“This acquisition turns us into a media company,” he says, pointing out that revenues from AussieCommerce’s original flash sale and ‘daily deal’ activity is now “a single digit percentage” in terms of the overall group.

Terms of the deal were undisclosed. PinchME Australia’s revenues are not known however it’s understood to have not yet turned a profit since its 2013 launch.

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Henry Sapiecha