Any views about BlueChip NZ

[spotty]

Hi

I had a chat with my Financial advisor last week and he plugged 'BlueChip' for getting into property investments in Auckland. Does anyone have any views \ thoughts about their operation ?

[duncan macgregor]

SPOTTYDOG, First view is want to lose money go to a financial advisor. Second view is the property market is coming of the boil you are a bit late. MACDUNK

[whiteheron]

spottydog

Be very wary of Financial Advisers , they are in the main no more than salespeople
Do your research , check out everything before making an investment and dont put all of your eggs in one basket --- that is a sure recipe for disaster
I dont know anything about Blue Chip , but companies with names like that and Guaranteed , Superior , Top Class, etc are generally to be avoided

Not wanting to pour cold water on things but I dont think that the property sector is going to be too flash in the next few years

Do plenty of research , research , research eg find out where the properties are and go and have a look , talk to some locals about what is happening in the area , get a number of opinions from a number of disaffected sources

All the best

[spotty]

Thanks for your thoughts , just what I needed a reality check.

[Bling_Bling]

On the topic of bad financial advisers, is Money Managers is operating? Now that is one to becareful of.

[Dough Boy]

I understand that former MP's are directors on the board of this company. Isn't that warning enough!!

[Steve]

***BARGEPOLE***

[barnsley bill]

Blue chip is great... I know a couple of people who have made heaps out of blue chip............................................
They are salespeople .............for blue chip.
I wonder who have they made the money from???[:o)]

[Arbitrage]

Some prophetic early posts on this one!!

Watching the media coverage over the last week or so has amazed me how many people have got into blue chip. It seems that investors have either lost rents due to non payment by blue chip (but have retained property title - i won't say equity as it seems many properties were overvalued prior to investors purchasing), or they have lost money on failed blue chip developments.

Can anyone provide more information?

[minimoke]

Years ago I foolishly biffed $500 at some new IPO, can’t recall who but they morphed into Blue Chip. There were a few requests for more capital but they got no more from me. I could never really get my head around their business model and with that level of investment I couldn’t be bothered. The writing was on the wall when they left for Australia – who really thinks a NZ company can succeed over there. Add a few smoke and mirrors (stadium naming rights / high profile sponsorships ?) and the aces in this pack kept building their wealth on the back of the suckers below.