Using equity to purchase second home

[slimwin]

Has anybody used service companies like http://www.propellorproperties.co.nz/ for property investment? Or is this for people too lazy to do the research?

I like the idea of using good advice (for timing etc) but am concerned companies like this only care about making a sale.

[nextbigthing]

Has anybody used service companies like http://www.propellorproperties.co.nz/ for property investment? Or is this for people too lazy to do the research?

I like the idea of using good advice (for timing etc) but am concerned companies like this only care about making a sale.

Straight off their website - "There is no better time to invest than now,"

Hmmmm, prices are at a peak with rumours of slowing sales and interest rate rises.... not sure that that is the ideal time to buy. More like the time to sell.

If they had such a magical formula they would own all the houses themselves, not be giving advice.

I'm always sceptical about these sorts of companies.

[Biscuit]

Has anybody used service companies like http://www.propellorproperties.co.nz/ for property investment? Or is this for people too lazy to do the research?

I like the idea of using good advice (for timing etc) but am concerned companies like this only care about making a sale.

I'd be wary, they don't charge you for their "services", so who are they really working for? Your guess is probably as good as anyone else around timing and there is plenty of info out there about property in NZ (Tony Alexander, REINZ etc). There are also entertaining and informative books out there by the likes of Bob Jones etc (BJ once said he would rather boil his head in oil than have residential investment properties). Best advice on structure is probably going to be your accountant and your bank. For management of residential property, its not that complicated and there is info at Department of Building and Housing.

[slimwin]

Thanks. It's more of a case of what's affordable to me without too much of a restriction on my lifestyle. Accountant is probably a good port of call on that.
Anybody know of a good one in chch for advice on residential investment?

[artemis]

For anyone looking at, or already in, property investment I recommend Matthew Gilligan's book Tax Structures 101. Newly published and oriented to property investment, though not only.

[Biscuit]

I would think pretty hard about any "investment" that was going to restrict my lifestyle in any way. I've had the same CHCH accountant for the last 15 years, I have no idea how he compares to other accountants as I've only ever had one other accountant who was much the same. Also, I don't ask him the kind of advice you are looking for, I merely want him to structure things properly. So, would not want to give any recommendation.

[slimwin]

Thanks all.