Full Breakdown
Mortgagee Sales of Ashley Dean Binnie’s Flipped Properties Follow Company Liquidations
5/26/2026, 6:12:01 AM
Mortgagee Sales of Three Binnie-Linked Properties
Three homes tied to property-flipping influencer Ashley Dean Binnie—two former state houses at 35-37 Stephens Crescent, Palmerston North, and a renovated cottage at 54 Huamai Street, Mangakino—are being sold as mortgagee sales after the liquidation of his companies, which together owed over $2 million.
Background and Key Figures
Binnie built the AshleyDean YouTube channel, posting tutorials such as “How to Flip Houses with Absolutely No Money”. His firms—Ascend Advisory Limited (formerly AshleyDean Limited) and Atlas Holdings—bought the three properties between September 2020 and September 2021. Ascend Advisory entered liquidation in May 2024; Atlas Holdings collapsed two weeks later. Digby Noyce of RES Corporate Recovery & Insolvency is the appointed liquidator. Binnie has not responded to media inquiries.
Debt Obligations and Property Valuations
Ascend Advisory owes the Inland Revenue Department $392,982, secured creditors $856,575 and unsecured creditors $559,895. Atlas Holdings owes the IRD $116,357, secured creditors $56,530 and unsecured creditors $257,124. The Palmerston North homes were bought for $480,000—below their combined rateable value of $620,000—and are marketed as an “abandoned project”. The Mangakino cottage, bought for $175,000, has a book value of $557,956 but was most recently listed at $450,000.
Official Statements & Responses
The liquidator’s report confirms the three properties are the assets to be sold to satisfy creditor claims. All three listing agents declined comment, and Binnie has not provided a statement. The liquidator also noted that the properties have been stripped to frames and the gardens are overgrown.
Criticism & Opposition
Creditors, including the IRD, are using the mortgagee sales to recover unpaid taxes and debts. Describing the Palmerston North sites as an “abandoned project” highlights concerns that Binnie’s high-profile flipping model may have left properties in disrepair and contributed to financial losses for lenders.
Conflicting Reports & Gaps
The Mangakino cottage’s listed price ($450,000) is lower than its assessed book value ($557,956), creating a valuation gap. No independent verification of Binnie’s claimed income growth or the success rate of his coaching courses is provided.
Verbatim Quotes
- “How to Flip Houses with Absolutely No Money” — Ashley Dean Binnie, YouTube video title
- “I Flipped The Most Rundown House in Masterton” — Ashley Dean Binnie, YouTube video title
- “How I use AI to create $60k property deals in 10 minutes every day” — Ashley Dean Binnie, YouTube video title
- “dear friend” — Ashley Dean Binnie, describing Kenyon Clarke of the Du Val Group
Upcoming Auctions and Next Steps
The Palmerston North properties will be auctioned on 4 June 2024; the Mangakino cottage’s sale deadline is 17 June 2024. The liquidation process will continue to assess remaining assets and distribute proceeds to creditors. Potential buyers include DIY developers and investors seeking to complete the renovations.
