by Neil Jenman

Regular readers of my articles will know that, for a number of years, I have been urging caution about dealing with a so-called "investors club" run by a former bankrupt called Kevin Young who was formerly known as Kevin Sampe.

I believe this "club" is not a club, but a large, well organised property selling outfit which receives large commissions for selling properties that are often over-priced.

It disturbs me that this purported club claims that its services are "free" when, in fact, it is getting as much as six per cent commission from the sellers of properties (often property developers).

Young claims that his "club" has around 200,000 members, however these so-called "members" are mostly just lists of names and contact details. I believe it is misleading to refer to mailing lists as "members".

I believe it is also misleading for this "club" to claim it does not have salespeople when, in fact, it has around 350 people trying to sell property, often through seminars. The fact that salespeople are called "support members" does not change the fact that they are salespeople.

I have received many complaints from investors who have dealt with this "club". I have not publicised all of them, nor, in fact, have I written all there is to write about Mr Young and his selling outfit. More information will appear in my upcoming book, Stitched!.

For many years, Kevin Young has been threatening me with legal action. He has also threatened others who have criticised him and his methods.

Young has now commenced legal action against me for damages and defamation. I am looking forward to defending his claim. I will keep my readers informed as the case proceeds.

In the meantime, however, if you have any information that you feel can assist in my defence, please let me know by contacting me at neilj @jenman.com.au.

Thank you.

Neil Jenman

PS If you are considering buying through this "club", please contact me and I will recommend an independent valuer to check the property's price for you. A good valuation from a good valuer is a good investment. I know some good valuers.

Basic investment prudence dictates that you should never use a valuer or a lawyer recommended by those who are selling you a property. You need independent advice. This is your best protection.