There was a particularly high sales rate at Bayleys' latest Auckland residential property auctions.
Although the auction rooms remain quiet, with fewer properties being auctioned over the winter months, Bayleys had an unusually high sales rate at their Auckland auctions in the last week, with 57% of the properties offered changing hands.
Bayleys marketed 14 Auckland properties for sale by auction in the last week, and sold 8 of them with the remaining six passed in for sale by negotiation, giving a 57% sales rate.
Overall sales rattes above 50% have been few and far between so far this year and also for much of last year.
Prices achieved on those that sold ranged from $705,000 for a three bedroom house in Titirangi to $2.23 million for a four bedroom house with a swimming pool at East Tamaki Heights.
Things weren't quite so buoyant down the line with Bayleys in Hamilton selling two of the six properties it auctioned last week, while Bayleys' Tauranga office took just a single residential property to auction last week and that was passed in.
Also in Tauranga, Eves Real Estate marketed 16 properties for sale by auction in the last week and achieved sales on seven of them, with prices ranging from $460,000 for a three bedroom house at Papamoa to $1.2 million for a house at Mt Maunganui.
Details of the individual properties auctioned and the prices achieved on those that sold are available on our Residential Auction Results page.
You can receive all of our property articles automatically by subscribing to our free email Property Newsletter. This will deliver all of our property-related articles, including auction results and interest rate updates, directly to your in-box 3-5 times a week. We don't share your details with third parties and you can unsubscribe at any time. To subscribe just click on this link, scroll down to "Property email newsletter" and enter your email address.
127 Comments
The 2018 Global Wealth Migration Review revealed that 10,000 high net worth Chinese moved away from the country. See where they emigrate to...
http://www.atimes.com/article/asias-millionaires-leaving-for-safe-haven…
Now I heard a rumour, and it is just a rumour that Auckland Council are considering doing what they did in Alberta, Canada a few years ago and changing all the street names to Chinese to make it easier for the locals and their visitors to get around. That'll be interesting if it goes ahead.
4/8 West Lynn Road, Titirangi - QV Previous Sale - 26/2/2017
Vendor's have bought, now their well-loved home must be sold!Once in a lifetime opportunity, Titirangi/New Lynn border proudly sits this amazing freehold cross lease character three bedroom two bathroom family home.
Yeah, well, we loved it for about 18 months!
Yep, see section CB 16A(1) Income Tax Act 2007.
http://www.legislation.govt.nz/act/public/2007/0097/latest/DLM6663109.h…
When this section does not apply
(2)The exclusion in subsection (1) does not apply to a person who disposes of residential land if—
(a)the exclusion has been used by the person 2 or more times within the 2 years immediately preceding the bright-line date for the residential land:
(b)the person has engaged in a regular pattern of acquiring and disposing of residential land.
Returns from term deposits after tax are pathetically low - and might well diminish further.
No surprise that fewer properties are going to auction - and that auction clearance rates are on the up.
In many regions (including Auckland and Wellington) it's become more difficult to find good property this winter. But, sure, there are plenty of second and third rate properties listed.
Investors (as opposed to speculators) often take a longer term view - and that's where well-located property has a solid track record. Lots of people are aware of that.
TTP
So, they have made a net loss.
As property investors can they now claim this loss against income and so effectively get a (ring-fenced?) refund on that loss.
This comment reflects a problem with a capital gains tax. Yes, we are all happy to see that tax on capital gains (its the envy in us all) but are we happy to see claims for capital losses and so effectively the tax system subsidize capital losses.
I suspect that many of those investors who have made capital gains in the past have been very quiet. (I think I recall a figure where IRD reported that they estimate only 50% of property investors declared capital gains).
With a more difficult market, I happy to accept bets on more than 50% of capital losses will be be declared!
Nzdan
Regarding your comment: "I’m an owner occupier, why can I not offset the expenses on my property against my income?"
Why stop at your home. Think a little wider. Why should you not also want to claim expenses on your car, your fridge, your washing machine, depreciation on your electronic goods . .. . No different in your thinking.
The reason landlords are able to claim expenses on rental properties is that they are a business, and as with income and expenses associated with any business are part of taxable income. Private homes are simply that; for the purpose of private use and not for the purpose of generating income as a business.
PocketAces
A weak comment with possibly a sense of anger/envy. For the banks/lenders, it is simply risk that determines rates.
If rental proprieties are not a business / commercial operation what are they?
Unfortunately most small businesses have a track record of high rate of failure hence the higher interest rate. (I cant remember the exact figure, but it is something likely 30% fail within two years). Many small businesses also in the event of failure have minimal security or difficulty in recouping the value of the loan by the lender.
Quite simply; rental properties are a business/commercial operation but banks/lenders interest rates for loans are low as they differ to most commercial operations as success rate is far higher and their security (house and land) tend to be a greater form of security.
Credit card debt is high risk often with poor security hence very high interest rates.
Renting out residential and commercial properties are property leasing businesses. There are other types of asset leasing businesses - for example - aircraft, ships, cars.
As in any free market, when large profits are earned by incumbents, it attracts many new entrants into the business which then increases competition and erodes profitability. That is no different in the property leasing business. The thing to note is that there have been many new entrants into the residential property leasing business which has led to higher and higher prices paid for assets (combined with the easy access to and low cost of credit)
At some point, a number of those involved in the residential property leasing business will exit.
The broader social issue and unintended consequence however is that those who have entered the residential property leasing business have bid up asset prices to a point where they are not very affordable for owner occupiers.
There have also been a number of new entrants into the property trading business. At some point, a number of those involved in this business will also exit.
When GST was introduced it was intended to be a universal consistent tax (e.g. there was considerable variation of sales taxes on goods (from 0% to over 200% which was cumbersome and fraught with issues).
At the time it was argued that some goods and services should be exempt from GST.
Rental accommodation was one. I trust that you aren't in favour of adding GST to rents (GST is applied to the service - not the earning/profit as you suggest). Commercial short term accommodation (e.g. motel) were not exempt. There is no difference between owning and renting a motel room for a night as to owning a house and renting it for a longer term; both are businesses.
Other exemptions to GST were - and are - alcohol and tobacco which both attract considerably higher taxes than GST.
These were exemptions were not on the basis whether they were not goods or services, rather for social/economic reasons.
Exempt supplies include:
Donated goods and services sold by non-profit bodies
Financial services
Renting a residential dwelling
Residential accommodation under a head lease
The supply of fine metals (gold, silver and platinum), other than zero-rated supplies
Bit of a short list really...
Yes they are earnings and as such you should collect GST on them. Why should rental accommodation or for that matter "financial services" be exempt?
Camel's Back
You seemed very confused regarding the difference between GST and income tax. You seem to misunderstand that they are very different in their nature.
For an example; consider the cost to rent a motel room (a service) as being $100.
GST is a tax on a good or service; in the case of the motel room, the GST at 15% means the cost of the motel is $115 to the consumer with the $15 due payable to IRD as the tax on that good or service. This payment is due payable to IRD irrespective if the motel owner makes a loss or profit. It is the consumer that effectively pays the GST.
The motel operator is running a business and is liable to income tax. If he/she makes a profit/loss then that is liable to income tax. If a profit is made, then the tax due is at the marginal rate. if a loss is made then a tax credit can be generated.
So note the two key points.
Firstly, GST is a tax on the good or service, so is effectively a tax collected by the provider but worn by the consumer. GST is due irrespective whether the provider makes a profit or not.
Secondly, income tax is due on the profit that the motel owner/provider makes and is a tax carried by the property owner/provider.
If a government was to introduce GST on rents, as in the case motel room above, then the tenant would be wearing the cost - not the landlord - as it would be a tax placed on the service/good.
So, are you really interested in seeing GST put onto existing rents meaning that the tenant would be paying an extra $60 on that $400 rent? As said previously, for a government to propose doing so would be political suicide.
Think it this way; tenants are lucky that they are not having to pay GST on their rent.
As the respondent below notes; if GST was introduced a landlord would be quite happy as a claim could then be made for GST paid on goods and services (i.e. charged by other providers in relation to repairs and maintenance) as would any other business person.
I think that your main concern is one of envy in that you see some people being rewarded by making a considerable investment and spending considerable time to make a profit in renting out a property. The solution to this for you is for you to get of your chuff and do likewise, not only for yourself but also providing a service for those in need of a home to rent.
In the mean time focus on the fact that tenants are very lucky not paying GST on their rent; rent being one of the few exempt goods/services. The exemption was to favour renters - not landlords.
Any assets utilised in a business can claim GST on their cost, even if that asset is second hand. If you were to include residential property into the GST net landlords would be entitled to claim GST input (15% of the purchase price or market value for existing properties) and get a GST refund up front. While the landlord would be liable for GST on the rent and on the sale price of the house (assuming they did not sell to a GST registered person in which case the sale would be zero rated (i.e. no GST imposed when selling business asset to another business)). This would bankrupt the Government.
On top of that the ongoing GST charged on rent would be essentially borne by tenants with rent increases due to the 15% tax impost. Political suicide for any party.
I don't see the conspiracy theory argument because as a landlord I would love nothing more than GST to be imposed on my renters. I could do with a 15% cash bonus on the value of my rentals. Sure GST will be payable when I sell a house to someone other than a landlord. However, (1) I am never selling; and (2) If I did it would only be to another landlord if GST were in place (unless a buyer was willing to pay the top price a landlord would pay plus 15% GST - not really FHB friendly as they are at a 15% disadvantage as well as being young and poor).
You can claim GST on goods you bought from someone who did not charge GST, it is called a second hand goods input claim. This is allowed as you will be required to charge GST on the sale of the goods if/when you on-sell. See section 3A(2) and (3) of the GST Act.
http://www.legislation.govt.nz/act/public/1985/0141/latest/DLM81865.htm…
Although you probably won't understand as I think the other commentators are right... you are too dumb!
I collect GST on my commercial properties as an unpaid tax collector. If it was to be introduced on my residential properties I would have no issue with that as it would be a saving for me, I would be able to claim back all the GST I currently pay out (and can't claim back) on repairs, rates etc.
A somewhat upbeat article on the state of the housing and auction market for the middle of winter.
However there is the cynic in me.
Is it because vendors are starting to accept that prices aren't as buoyant as in the past and are going to auction with more realistic expectations of the current market?
Or, is it as noted that the auction market was quiet, are vendors becoming gun-shy of both the effectiveness and related costs of auctioning and doing so only in desperation for a sale hence the seemingly higher success rate?
Success percentages, numbers sold, and examples of sales are on their own fairly bland statistics that say little. More vigorous reporting from the auction houses could give comparison of sale prices to say RV.
Agreed printer8 – I’ve been thinking along the same lines of late.
Simple success or failure percentages don’t give a lot of colour or texture to what may actually going on at these auctions – especially at the moment.
Without knowing the nature of the sale or offering and the motivations of the vendor / purchaser it’s hard to make sense of auction results with such a small number of offerings in a somewhat subdued market.
Wellington city market is most odd at the moment. Only 389 for sale across the whole city. But nearly double that available to rent.
Lots of the listings for sale are sections, house and land packages or new builds in Newlands, Churton Park, Tawa and Johnsonville. There's not a huge amount available in the older and more central suburbs.
What is weird is the very low inventory but otherwise cool market. Usually low inventory would lead to a hot market (at any time of year) but things are kind of chilly out there. I have no idea what things will look like come spring.
You're right Gingerninja
Very little coming on and very little selling in Wellington at present. The top end of the market still appears to have a load of the deadwood that has been kicking around since January, you definitely wouldn't call it flamboyant.
If you were looking to rent then it's one of those 25% off markets where you offer on several and see which landlord has a mortgage small enough to take a sensible rent, there is loads of stock asking 750-1000pcm sitting empty and gotta be a few landlords still paying the mortgage while they sit there. Rent haircuts ahead in Wellington (or at least until the property managers can panic the inexperienced students again In January and February, which are the only months of the year that there is a real rush to rent)
Reckon we'll see a few of the rentals back on for sale again in September. I'm still surprised at how few prices there are on listings.
Agree. Try and get any facts and figures (which are not property positive) through to the comments section of STUFF... It's almost impossible.
Those damn editors are definitely on the bank and RE agent payroll, but you have to keep trying and occasionally sneak through a DGM- GEM when the Chief Editor has gone out to lunch!
I'm not sure why you'd bother with the comments section of stuff.. I feel like my brain is slowing down about 30sec after I make the mistake of clicking on the comments button.. pretty much the same as herald articles on facebook. I'm just not sure whether they rank above or below youtube comments on the stupidity scale.
Debt enslavement of a generation is an unintended consequence of the profit and profit growth incentives of banks and bank CEO's.
The adult in the room (i.e. the banking regulator) should be doing their job to protect the safety of the financial system and maintain financial stability for the benefit of society. Unfortunately the banking regulator is constrained by politicians with their own vested interests, which is the reason that debt to income measures haven't been able to be implemented by the RBNZ.
West Lynn Road property owners, how do we know that they were investors??????
Owner occupied houses don’t have Brightline exposure!!
Any intelligent investor doesn’t sell a property that they have bought right, Good return and upside!!!!
I would say it is an owner occupied that had a change of circumstances.
2017 Listing - https://www.barfoot.co.nz/590116
2018 Listing - https://www.bayleys.co.nz/1410516
New Driveway
New Kitchen Cabinets/Island Benchtop, Rangehood,
New Laundry Cabinetry/Built In Tub.
I'm sure they made a good return!!!
Pragmatist, you have got no reason whatsoever to be able to,say that they are flippers.
There will be no Brightline exposure whatsoever if it was their home rather than an investment.
If it was a flipper,or investor then I would,say that they should be looking for another way of making revenue as they are not very good at it!!!
Rp, if 2 As is where is property is all that you owned Rp, then you would be getting more than enough to give yourself a great lifestyle.
The 2 As is where is that I bought in Chch are not patch ups at all in fact are probably built a helluva lot better than the Kiwibuilds if we ever get any!
No they are not owner occupied RP because they are rentals and I thought you could possibly understand thT.
As for IRD got nothing to do with as far as As is properties go, they take the tax on the profits from the rental business
Its that type of thinking that got the govt changed. if you live in the house but your prime motivation is do up and on-sell it is you job and thus taxable. If one partner of a couple is not working but working on the house full time to flick for gain, that is also their job and thus taxable. IRD extra staff on property tax dodging coming to a local near you soon.
Or lets assume its a "Block" inspire couple both holding down full time jobs just to make the already stupid house prices, then that's a lot of weekends and nights for....nothing. How many nothings would you need to spend your limited thus valuable discretionary time doing something else?
The Man 2
Fully agree with you - housing investment done right can be a way to achieving financial freedom.
The essential question is whether property purchasers at current property price levels will achieve that result. The essential variable is price, or more specifically house valuation.
1) If the purchaser pays a low house valuation, then they are more likely to have positive gains, which is enhanced further by leverage.
2) If the purchasers pays a very high house valuation, and if they are unable to hold on through the property price cycle, then they are more likely to have negative gains. Leverage will enhance these negative returns.
There are a number of house valuation metrics that many property market participants use. Some metrics are more useful for short term property traders, whilst that same metric may not be useful for long term owner occupiers and long term buy and hold investors. Conversely, some metrics may be useful for long term owner occupiers and long term buy and hold property investors, but may not be useful for short term property traders.
Using one valuation metric, a house may look cheap, whilst using another valuation metric, that same house may look expensive for a different type of property buyer.
For example, a property valuation metric which shows a property to be cheap for a property trader may be actually be expensive for the long term owner occupier and long term buy and hold investor, based on their appropriate valuation metric. I see many long term owner occupiers and long term buy and hold investors using the valuation metric that is actually more appropriately suited for property traders.
Using the incorrect valuation metric for a different property market participant type can lead to an undesirable, unfavourable, and financially painful outcome.
Many of those that are cautious on property prices in Auckland are applying the appropriate valuation metric for long term owner occupiers and long term buy and hold investors.
CN, agree with you mostly.
Property investing done well can not be beaten as a method to financial stability and income.
I know many investors in Chch that own property but their returns are not overly impressive but the capital gain should they sell at some stage, makes it worthwhile.
As it is a business for us, we take it seriously and so need to buy very well, which is what we do, having bought many property at auction sight unseen, where their is no competition and knowing the market.
I admit that it is harder in the last year to buy due to several changes and the new government that is anti property investors.
We have not purchased any property in the past year as we haven’t seen anything we wanted that gave us enough cashflow and enough upside to make it worthwhile, due to now having to borrow 65% of the purchase price.
An admission from The Boy that property like any other form of investment can be affected by government intervention. That is why it pays to be diversified. I have property and equities for that very reason. Those who bought in Auckland are sitting on big gains and good on them. It is slowing down though even in Herne Bay as advised by relations. You buy sight unseen when there is no competition. I understand that when you consider how badly the Christchurch property market has performed. All you have done is rescue the vendors at your risk and expense. Hardly amazing ability investing wise. Anyone can buy crap no one else wants.
Gordon, you have no idea what you are talking about.
No real risk to us buying sight unseen at all Gordon, if you know what you are doing.
Our buying has on paper been spectacular, but if you are a non believer Gordon, put your money where your mouth is, and take up my challenge to you.
I know you won’t answer me, because we all know you are a broke old man, that is jealous of financially savvy investors because you are so conservative you have missed the boat.
Go on take me up on it????
TM2, I'm also very jealous of how you're loaded to the gills with leveraged "as is where is" properties that you will have trouble on selling. Yes, very jealous. I wish I was smart enough to gamble, speculate and have the privilege of paying insurance?, maintenance, interest and rates on additional homes. I'm sick of being paid interest every month. It would be a privilege and an honor to fill vendors pockets with profit. I want to RISK EVERYTHING in these ripe times! Sadly, I'm just not savvy enough.
TTP :) Sorry, but you know very little. Throughout 2017, you repeatedly accused me and other commentators of having an agenda to drive down house prices by way of deception and misleading statements. I suggested FHB's should wait. Wise FHB's who followed this advice will have by now saved potentially six figures through a mix of less interest paid and more received. What say you, now that house prices are falling? Being that we are at the early stages of this adjustment, whatever shape it takes, FHB's should still wait out this still unaffordable suckers market.
People who HAVE A SPINE make a forecast and no matter how ridiculous it might seem at the outset, they stick to it. You, on the other hand, make a forecast and change it weekly. SUCH A FLAKE
Bernard Hickey has a spine. He put is real name to a forecast, owned it and has worn the ridicule for close to a decade. Posting a view under a pseudonym on this site doesn’t come close to showing you have a spine. Look back at posters over the last year, let alone longer, and you will see names come and go like visitors to houses of Ill repute.
Ha-ha:) Rex Pat, I'll safely assume your intense yet unfortunate respect for Tony Alexander then.
It's always possible that TTP is just a virus ridden chatbot or an OIRE (online interactive Real Estate Agent). I'll remain open minded. Point taken, Individual REA photos disappear from shop fronts weekly too. It must be a nightmare for the Principal brand owner just to keep up!
Having been in financial markets a few decades ago and seen not a single proven ability to forecast anything long term I follow no one. Most of my property posts here are data based e.g. x number of houses sold for a Y% of CV. I have one home, that I hope never to sell. I will help my children into property for owner occupation. That’s the limit of my interest.
Agree with your comment about BH, his only mistake was to have too much faith in the integrity and competence of the regulators of the credit market. Had they done their job, housing prices would not have disconnected from their fundamentals to such absurd extremes as we see now.
My friends invest in property with the express assumption that regulators and government will continue to be as incompetent as they have been, with policy continuing to favour the property speculators with easy credit and associated tax breaks.
So right - and the headroom for that kind of action by the RBG, just isn't there this time round.
I have a spine (lol - reminds me of the 'I can stand' ad) - and here's my analysis and prediction for AKL (copied from this mornings 90 Secs @9):
The 2007 peak to the 2008 trough (i.e., the last external shock affecting our housing market) saw a 22-23% decline in Auckland;
https://www.interest.co.nz/charts/real-estate/median-house-price-growth
This time round, it's looking to me like we'll have another external shock (where AUS goes we'll go) and added to that the local initiatives relating to changes to immigration settings and the foreign buyer ban. So I'm guessing a correction possibly half again as much in magnitude as in 2007/08 - maybe double (or anyone's guess) depending on what form that external shock takes.
We've already seen a 7-8% drop in the median since when those revaluations were done (i.e., March 2017) - so let's say with this correction we get the 'half again as much as the last' - that would equate to a 33% drop from the 2017 median.
BTW - Liam Dann's recent opinion piece in the Herald is already talking about the RBNZ having room to move rates down in response to this falling housing market... will we never learn.
Will the OCR (currently at 1.75) be able to arrest the fall again? Nope.
Recall back then it went from 8.25 down to 2.50 before settling for a spell.
Pay down debt now, as a refinance just isn't going to make that much of a difference this time. And depositors should spread their savings around - and keep an eye on the Dashboard;
Hi Retired-Poppy,
My forecast for well over a year now has been that there will be no property market crash and that house prices will remain relatively flat for the foreseeable future - fluctuating within a narrow band. (Everyone who comes here regularly knows that.)
This is exactly what has transpired: the market has remained relatively flat, albeit there are now a few signs of it strengthening - e.g. rising auction clearance rates. (I have acknowledged the latter in several of my recent posts.)
Retired-Poppy, over the time you have contributed here, your comments have become increasingly bitter and resentful in nature. Often you shoot from the hip without thinking.
Notably, however, you have become much less inclined to talk of a market crash - which, indeed, represents a very considerable change in your position.
Rather than resorting to bombastic behaviour (and telling porkies) I suggest you seek some counselling.
TTP
Funny that no one else is buying at the auctions The Boy. Just proves you buy crap that no one else wants even when they are so cheap as is where is dumps in poor old Christchurch. The Boy certainly suits you. A real man would be paying more and buying quality homes in quality areas and of course you would have competition.
Gordon you are totally wrong!
We were buying at Auction when others are not in a position to buy at auction that is unconditional.
We are able to bid at any stage fortunately due to,our financial position, in that we can get money whenever we want thru our Bank.
There are always people that want the properties but aren’t in a position to bid and I buy thru the smaller Real Estate companies.
They are all quality properties or I don’t bother.
Go on take me up on the challenge Gordon!
You name the amount you are prepared to invest Gordon, think of the grandchildren.
Anything worthwhile over 50k, third to Interest.co, third to charity and a third to me!
Say yes or no know Gordon, but I know you are not up to it.
That’s right Gordon I love it when there is no one else there to bid!
Once and for all, are you going to take up my challenge to you or are you full,of it and won’t back up your claims that I am a boy.
Seriously, I am up for it and if you aren’t Gordon then everyone can call you The Boy!!!
Today’s a bit of a bust weather-wise so thought I’d see where the timeline was currently at as regards the “foreign buyers ban” – nigh on impossible, there appears to be no fixed timeline.
Below is the best I could do – it would seem it could be some months away before any legislation actually takes effect?
“The Finance and Expenditure Select Committee’s Report on the Amendment Bill, including all proposed amendments, was released on 18 June 2018. The Bill will now progress through its second and third readings with Parliament. The Report includes a statement that the New Zealand National Party and ACT New Zealand oppose the Bill, so it is likely that there will be some further debate as the Bill progresses through the final stages.
The current proposal is that the new provisions will come into force no later than 2 months after the Amendment Act receives royal assent (which is when the Governor General signs off on the Bill – usually within a week of the third and final reading in Parliament). The new rules will not apply to any contracts that are entered before the Amendment Act comes into force.”
Zooms? Absolute number and % of sales in Auckland and trend line please? Answer in Auckland is about 6% and falling. Sales in Auckland overall are 28% lower than in 2012. Why? Cannot afford to buy. Prices are all media seem to focus on and not sales. When census figures come out, you will see that % Owner occupation in Auckland will be dow to about 44% and 30% among under 35 year olds. Apartment sales do not support family formation and hence workforce. Consumerism does not work without this build ing block of society. O, sorry I said "society" and not economy....
Housework’s, Gordon has constantly called “The Man” The Boy” and has consistently questioned that I owned
Rental properties in Christchurch that are all positively geared and that we have a large portfolio that provides an extremely good income!!!
I have consistently challenged him to put his money where his mouth is and take me up on the challenge.
We are to both put up a certain amount of money that is worthwhile and I will meet that amount anything from $50k upwards and that wouldn’t be too difficult for him as he has sizeable investments!
One third would go to Interest.co for arranging it, one third to a decent charity of the winners choosing and one third to the winner.
Gordon has never commented as to whether he will take up the challenge and just stays silent!
Either he puts up or he should shut it!!
Go on Gordon, now is your chance to take me up on it, name your amount!!!
And you still haven't said what 'the challenge' is.. seeing which one of you can get both feet in your mouth at the same time? Anybody else on here and I'd expect it was some sort of investing challenge.. who can double their money first or something like that but you two.. who knows.. and frankly, who cares.
"The Man is always consistent". This is utter bullshit...
You're one of the most inconsistent bloggers I've come across.. you come across more like a madman than an astute investor..
Calling yourself The Man is a clear indication that you are someone you are not.. false images says a lot about a person
HO, “The Man” is a name that was given to me years ago by several people that were happy with my services.
They said that I was “The Man” so that is why I used it on here.
I was aware that many would think it was over the top, but then if you can’t back yourself then you have an inferiority complex!
“The Man” certainly hasn’t got that!
I think it would help though TM2 if you didn't call yourself the man, say how rich and great you are, and how jealous everyone is. I think what you do TM2 is like a red rag to a bull.
Not sure if your a kiwi, but these types of things are un-kiwi like. Most people who are kiwis do not like to brag to much like DGZ, so I assume he's not a kiwi. Most like to keep things quiet, have good friends and enjoy their life. Having money is nice, but its a personal thing. Kiwis in general want to be called a good person and down to earth. I've met some AB's and they are so down to earth, great guys and don't brag.
The common saying we have with my mates, "as long as he's a good guy", and you would like to have a beer with him. This is the most important thing.
I do think a bet of 50K is over the top, and if you were rich a bet of $1 and bragging rights would be sufficient. But it sounds weird betting like that on who's the richest. Personally I judge my richness by the amount of genuine friends I have and you cant really measure this. Its just a nice feeling when your with good friends having a beer.
Maybe TM2 try being less aggressive on how great you are and gordon may not hassle you as much. Just a thought.
OMG swapacrate of course I'm not a Kiwi so there's no need to assume. I don't think I have given any indication in all my posts that I am a Kiwi. My parents would smack my bum if they know I call myself a Kiwi. Also some people do not like to have too many friends / neighbours as they like to keep to themselves. It's a personal choice, not richness.
Well, Chinese does have grammar. Single characters often have to be joined together to make words, and word order is particularly important. Changing the order of words in a sentence or placing stress on different parts can change the meaning. Which is probably why you get it wrong.
Swapacrate, certainly no bragging meant on my part.
Personally don’t give a rats whether people think I am bragging or not, just get sick and tired of people moaning about this and that and stating that the housing market is going to crash, and how fortunate people are born when they are, etc.etc.
I say it the way it is and if people just continue to moan and do nothing about it, then they will stay in the same financial position that they currently are, probably pretty broke.
I have personally improved many people’s lives financially thru property investment in Chch who were prepared to take action and not moan about how bad things are.
“The Man” Name will stay as if you can not back yourself then I have many others that will in Chch
As for the 50k challenge, not worth my time for $1 as it will take a bit of effort flying someone down to Chch etc.
Has to be reasonable amount as one third goes to charity and one third to Interest.co to assist with running this site.
I don’t want any bragging rights at all, just to shut Gordon’s insinuations up is what I want, as he gets some satisfaction from having “The Man” on with false accusations.
At the end of the day we are providing a service to the country by providing good quality accommodation to people that require it!
“At the end of the day we are providing a service to the country by providing good quality accommodation to people that require it!”
And if that’s what you’re ultimately doing – that’s great!
So maybe leave it at that – forget Gordon and his taunts – you’re in your own heaven - soak up the Christchurch sun, enjoy the snow-capped Alps back drop – and leave Auckland and it’s over-priced, traffic jammed self-imposed crowded misery to itself – it ultimately deserves it in some respects - thanks John.
“At the end of the day we are providing a service to the country by providing good quality accommodation to people that require it!”
That's exactly what I have in mind when I retire in 20 years time...having my own Air BnB in the picturesque Central Otago ^^
Queenstown cottage sold for $3M
https://www.nzherald.co.nz/property/news/article.cfm?c_id=8&objectid=12…
We welcome your comments below. If you are not already registered, please register to comment.
Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current comment policy is here.