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http://www.interest.co.nz
Saudi oil output lifted
But Nigeria a problem
Already priced in
Oil price won’t fall much
Panel 2
Finally, Bridgecorp charges
Rod Petricevic, Rob Roest
Signing false documents
1st charges
Another Blue Chip?
Merlot Investments
Rental payments late
Duration : 0:1:28
http://www.interest.co.nz/ratesblog/index.php/2008/06/23/another-blue-chip-collapse-on-the-way/
Merlot Property Investments, which appears to follow a version of the Blue Chip model for property investment, has told investors it is hoping to resume regular rental payments shortly after some “rental payment instability.”
The New Zealand Herald has reported that Merlot directors have written to about 300 investors who have NZ$100 million invested to warn of rent payment problems.
“Life is pretty difficult at present for all of us and some investors have had rental payment instability and this has meant that rent has been paid on different days of the week over recent times,” Merlot said.
“We appreciate your support through this period and assure you that it is our commitment to you, that we will be making up these payments as soon as is practicable and intend to return to weekly in advance payments shortly,” Merlot directors said.
Merlot’s website (check out the jingle on the home page) shows its main “Halcyon” investment product is similar to Blue Chip in that Merlot handles all the time consuming and messy business of finding property investments, finding tenants, collecting money and handing on the rent, for a fee. Here’s the blurb on the website.
Halcyon is a passive, fully managed residential property investment. All the work is done for you, there are immediate tax benefits and you’re on the path to long term wealth.
Halcyon is a product designed for the busy professional with a good income, some equity in the family home and wanting to plan for a comfortable retirement. It utilises stand-alone residential houses in the Auckland region. This product will produce long term benefits of capital appreciation, annuity income for retirement and future financial security.
The product is designed as a cash flow neutral asset that will not require any cash input to get started. It utilises taxation as a means of keeping the proposition neutral. It is also a completely passive investment meaning that you can continue to enjoy your busy lifestyle and not have to worry about what is happening with the houses in your portfolio.
Investors may now have to worry.
Grant Petrie, the former teacher and mortgage broker who set up the group along with former property investor and IT manager Stewart Goldstone, was not immediately available for comment.
Are you a Merlot investor? What’s happening with your rental payments?
By the way, here’s the lyrics for the lounge-like jazz jingle on the front page of the website.
You’re making more,
More out of your future,
More time to enjoy,
More choices to live,
More, More, More,
You’re making more,
Out of Merlot
Duration : 0:0:33
This woman giving an interview for some grape crushing contests tries to cheat, and catches a bad case of instant karma.
Duration : 0:1:25
Don’t taunt the grapes! Check out the genuine look of concern on the morning news anchors….”We’ll try and check on her and get back to you as soon as we can.”
Duration : 0:1:25
http://www.interest.co.nz
Merlot Homes liquidation
Blue Chip style scheme
Consolidated targets Bryers too
Marac raises NZ$100 mln
Consumer Confidence blips up
Duration : 0:1:28
Funny video of some news lady doing a face plant after stomping grapes.
Duration : 0:1:25
A news reporter falls while she is stomping grapes.