House Prices

Consumers' Institute warns about investment seminar in Auckland

Consumers' Institute is warning people to be very wary of a real-estate and investment seminar to be held in Auckland on 29 June.

Wednesday, June 23rd 2004

"The promises made for this seminar are some of the most ludicrous we've ever seen," said the Institute's chief executive, David Russell.

Claims are that attendees will learn how to buy real estate at under half price, how to retire in as little as two years, and achieve annual returns as high as 50% on "government approved" investments.

Many people have received free invitations which are supposedly worth $149.

Consumers' Institute says the day long "National Training Conference" is simply an infomercial where the presenters sell tapes, CDs and books on real-estate and investment. They are tailored for the United States, and it is very unlikely they have given any thought to local conditions.

An example of this is the NTC website that claims seminar attendees will learn how to get around paying capital gains tax on real-estate. We do not have capital gains tax in New Zealand.

The NTC brochure states "four of New Zealand's Greatest Financial Superstars" will be presenting the seminar - they are William Danko, James Smith, Phil Town and Wayne Gray. All are American, and were recently touted in Australian seminars as "four of Australia's Greatest Financial Superstars".

They claim their investment scheme is "government approved." But the New Zealand government does not "approve" any investment schemes.

Read More - Opens in a new window
Heartland Bank - Online 6.69
SBS FirstHome Combo 6.74
Wairarapa Building Society 6.95
Unity 6.99
Co-operative Bank - First Home Special 7.04
ICBC 7.05
China Construction Bank 7.09
BNZ - Classic 7.24
ASB Bank 7.24
ANZ Special 7.24
TSB Special 7.24
Unity First Home Buyer special 6.45
Heartland Bank - Online 6.45
China Construction Bank 6.75
TSB Special 6.75
ICBC 6.75
ANZ Special 6.79
ASB Bank 6.79
AIA - Go Home Loans 6.79
Kiwibank Special 6.79
BNZ - Classic 6.79
Unity 6.79
Westpac Special 6.39
China Construction Bank 6.40
ICBC 6.49
SBS Bank Special 6.55
Kiwibank Special 6.55
BNZ - Classic 6.55
Co-operative Bank - Owner Occ 6.55
ASB Bank 6.55
AIA - Go Home Loans 6.55
TSB Special 6.59
Kainga Ora 6.99
SBS FirstHome Combo 6.19
AIA - Back My Build 6.19
ANZ Blueprint to Build 7.39
Credit Union Auckland 7.70
ICBC 7.85
Heartland Bank - Online 7.99
Pepper Money Essential 8.29
Co-operative Bank - Owner Occ 8.40
Co-operative Bank - Standard 8.40
First Credit Union Standard 8.50
Kiwibank 8.50

More Stories

Support for regulation

Monday, March 18th 2024

Support for regulation

REINZ has emphasised the need for property management regulation to Parliament’s Social Services and Community Committee.

A better investment market

Thursday, March 14th 2024

A better investment market

“Reinstatement of interest deductibility starting from the new tax year on 1 April brings property investors back in line with every other business in the country, where interest costs are a legitimate deductible expense," Tim Horsbrugh, New Zealand Property Investors Federation (NZPIF) executive committee member says.

[OPINION] Recessionary times

Thursday, March 14th 2024

[OPINION] Recessionary times

It is not the best out there for many businesses and property sector people. Sales are down across the board, our clients’ confidence is falling, and there is a lot of uncertainty.

Interest rate expectations: It’s not over yet

Thursday, March 07th 2024

Interest rate expectations: It’s not over yet

Most Kiwis think interest rate increases have peaked.