Opinion: Olly Newland says avoid major rebuilds and stick to once-over-lightly makeovers. Your view?

Opinion: Olly Newland says avoid major rebuilds and stick to once-over-lightly makeovers. Your view?

By Olly Newland

Olly Newland

This may seem a little contrary to popular thinking at present but by being counter cyclical you will have a greater chance of profit and wealth creation than when interest rates are high.

A few weeks ago I spoke to a group about investment. I spoke mostly about seizing opportunities when they arise and, with my usual arm-waving, talked about how the volatility in the market is a great chance for all investors and home owners.

I probably got a little carried away (as I sometimes do) because I find the volatility in the market very exciting at times.

At the end of the talk someone in the audience asked me if there were any opportunities when you had a mortgage (or mortgages) to deal with.

The common practice used by most is to apply cash to reducing debt - and not save it for investing. There are exceptions, of course, such as KiwiSaver and the like, but the general rule stands that debt should be paid off first before investment begins.

So the person in the audience, feeling a little awkward no doubt, asked me how he should deal with his debt.

Yes I agreed that money is cheap these days - so why not borrow it and then borrow some more at every chance while low interest rates last?

Some stick-in-the-mud advisers (with respect) say differently. They suggest taking the opportunity of low rates to accelerate repayments of principal and interest.

After all, they say, when interest rates fall and you keep up the same monthly repayments, it will have the effect of paying off the mortgage more quickly.

When money is cheap it is easy to get carried away and lower repayments as well … so you have more money in your pocket to spend on other things.

The problem is that principal payments make up such a tiny portion of any loan that it’s hardly worth the effort. Even though it’s true that a component of each payment you make is applied to reducing the mortgage it takes years to make any sort of dent in the amount still owing through your regular payments.

Interest rates are down and ‘down for the count’ … and let me go out on a limb here and say I believe that low interest rates are here to stay for the foreseeable future- as has always been the case in most Western economies for decades and especially these days.

One day interest rates will rise … but that day is far-off - unless, of course, we get hyper inflation. If that happened it would not occur overnight and there would be plenty of time to change course (and, indeed, profit mightily as hyper inflation carries all assets up in value as money devalues).

Home buyers and property investors see low interest rates as a great opportunity to trade up to a bigger and better house or investment and - despite what some say - that is how it should be.

Worrying about future interest rate rises is a hiding to nowhere.

Should interest rates rise it means that the economy is improving or inflation is on its way which means higher wages and greater profits which should easily make up any difference.

The opportunity to get cheap money now carries little threat to buying on tick and loading up some debt — if done carefully — and it can bring great rewards.

My advice

My advice is to borrow more and use the money to carefully upgrade your home or investment property. A dollar well spent in upgrading can return up to ten dollars in profits - and it’s a darn easier way to make money than trying to pay down a hopeless debt.

Put another way, increasing the value of your property is the same as decreasing the mortgage. For example, if you have a $500,000 house with a $250,000 mortgage then your gearing is 50%. Not bad, but it could be better.

If you spend a prudent $50,000 on upgrading the kitchen, bathroom, or whatever and the property ends up being worth (say) $750,000 (this is pretty easy to do. Ask any property investor) then the mortgage - still at $250,000 against a $750,000 house is now only 33% geared.

Extra borrowings, even at the current historically low interest rates are being covered by rising rents (something I predicted over 12 months ago). Look at the latest figures for the Auckland region. Some rents have risen by as much as 40% … and this is just the beginning as the housing shortage deepens:

Crockers latest research is here.

Also: remember paying off a mortgage has to be done with tax paid dollars. Increasing the value of a property is tax free in most cases. Which one, then, is the obvious choice?

Before embarking on any such plan get your friendly Registered Valuer to give you an estimate on what your property is worth as it stands today and what it would be worth when you do the upgrade you are planning.

Be prepared to compromise to get the biggest bang for the bucks as possible. (This is a big subject. Contact me if you want to learn how.)

Now is the time to increase your mortgage, not to buy ‘toys’, but to reinvest into the home or investment through improvements and ultimate tax free capital gain.

This is not the time to fall asleep and forget the opportunities out there. In fact it’s time to wake up and increase the value of your investment as much as possible … and reduce your debt the far easier way.

I have had countless number of clients who have followed my advice and seen their homes or investments climb quickly in value - outpacing the market easily - even in these quieter times.

A few years ago everyone was throwing money at real estate and just wanting values to go up without any effort  on their part. (No wonder so many came to a sticky end.)

Now a relatively few well spent dollars (borrowed or not) can bring the same rewards with minimal effort. The aim for most renovations is to complete them quickly -ideally inside 4 to 6 weeks. With that it is quite possible to get that gain more quickly and more certainly then by blind speculation or naïve hope.

Time is of the essence. Avoid major rebuilds and stick to once-over-lightly makeovers - then you will see your equity increase in leaps and bounds … as your debt ratio reduces.

And one more bit of advice before you rush out to you see your bank manger: Increasing equity (viz. decreasing debt) requires a fair amount of hard work and dedication on your part. There is much to learn if you are not experienced. With the right coaching and right advice virtually anyone can achieve great results. It takes lateral thinking and the will to succeed

From the files – A real life story

Let me give you a real example from my recent files on just how increasing value creates equity and cash profits.

Sue and Brian, with a small loan from their elderly parents found a very nice looking 3 bedroom plus wash house brick and tile 1970’s home in the suburb of Glenfield on a reasonably level full site of 620 m2 more or less.

Brick and tile are always popular as there is no concern over leaks or shoddy workmanship and so is a full site. These types of houses are in great demand as they tend to be easier to renovate being made of relatively modern materials.

It was for sale in a very shabby run down state  after being rented out for years. The suggested asking price was $395,000 and with my advice Sue and Brian put in an offer of $340,000 which was rejected but came back with a counter offer of $370,000.

With my advice a registered valuer was employed who valued the property at $380,000 as is, but with the note that similar fully renovated houses in the area were selling in the high $400’s-to mid $500’s. Brian and Sue put in a counter-counter offer of $359,000 and a deal was finally sealed  at $361,500.

A mortgage of $300,000 was arranged and then Brian and Sue moved into the house and got stuck in.

Within 6 weeks (a little longer than anticipated) a new kitchen (pre made variety) and bathroom were installed, the place repainted inside and out, floors polished or carpeted, a double carport erected (always a good move and cheap), plus new lighting, gardening and minor repairs and major scrub up. They also turned the wash-house into a study — good move.

Total costs $35,000 plus their own labour.

A new valuation was obtained suggesting $525,000 so it looked like around $100,000 equity or profit was created. Brian and Sue listed it for rent on Trademe and were staggered to get 40 replies within 3 days. This sort of response told them that they had created something a little special so they decided to sell it, which they did within 2 weeks achieving  a sale price of $500,000 clear.

Not bad for their first effort and I am sure they will do even better next time  – and the time after.

Indeed as I write Brian and Sue are now onto their second property also on the North Shore and if they keep this up they will earn enough to effectively double their annual income.

While it is true that doing up a house while you a still living in it is not easy, the rewards more than make up for it.

Olly Newland
October 2011
www.ollynewland.co.nz
© 2011 Olly Newland. Used with permission.

We welcome your help to improve our coverage of this issue. Any examples or experiences to relate? Any links to other news, data or research to shed more light on this? Any insight or views on what might happen next or what should happen next? Any errors to correct?

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Yawn.....flicks the laptop off and walks outside to mow the lawn.

Idiotic blather from OllyN. "Down for the count".....what a load of utter shite....but then OllyN has a crystal ball on where the world economic trainwreck is going...hasn't he!...oh then he must be a highly qualified and vastly experienced economist who predicted the 08 collapse and is right now on the phone helping Bernanke et al solve the problems.....bollocks.

Peasants who take this advice from him deserve to be sorted out when rates rise on the top of bank failures and the rush to the exits. He has deteriorated to be a flimflam merchant.

 "Down for the count"........that's a scurrilous lie...! I've only met the man twice and have no recall of any such engagement.......

Olly writes, "My advice is to borrow more..." And herein lies the seed of his own destruction ( if he's following his own advice, of course!). That policy DID work, it WON"T work from hereon in. Ask yourself, Olly "Why are interest rates low, and about to stay lower for longer ?" It's not just because the bankers of the world want to make life easy for borrowers! It's becasue there is no demand for debt, and the price of that debt ~ the interest rate ~ has fallen. Yes it will stay lowly priced for longer....what does that also tell you? My suggestion is that it will be because the world has moved from a debt-overweigtht system to  one of more equity-input. It has to as the Western populations age, and the peak earning and debt repayment age (47?) fades ever more into the pas.t That's more savings, less borrowing... and lower prices...for all assets, property primarily amongst them. Good luck with your, and anyones elses, accummulation of more debt. Don't forget, Olly : " it's easier to pay off a $10,000 debt at 10% interest than $100,000 at 1%.....NO?" 

"with my usual arm-waving"

"Handwaving is a pejorative label applied to the action of displaying the appearance of doing something, when actually doing little, or nothing. For example, it is applied to debate techniques that involve logical fallacies. It is also used in working situations where productive work is expected, but no work is actually accomplished. Handwaving can be an idiomatic term, and it can also be a literal descriptive term for the use of excessive body language gestures that are associated with a lack of productivity in communication or other effort.

The superlative expressions for the term, such as "vigorous handwaving" or "furious handwaving", are used to imply that the handwaver lacks confidence in the information being conveyed."

Definition taken from Wikipedia, but sums it up nicely.

 -------------------

My advice (Olly) is to borrow more and use the money to carefully upgrade your home or investment property. A dollar well spent in upgrading can return up to ten dollars in profits - and it’s a darn easier way to make money than trying to pay down a hopeless debt.

Looking into current developments on many fronts – the world will never recover again, simply because among the powerful in societies ethic and moral requirements and standards don’t prevail.

 I’m out of here as long as my sentence isn't restored above.

Not accepting, but deleting solid comments about unethical, financial behaviour of people – I’m out of here. Bernard, I’m disappointed you are accepting authors regularly writing such articles.

Looking into current developments on many fronts – the world will never recover again, simply because among the powerful in societies ethic and moral requirements and standards don’t prevail

Political and financial crooks are destroying societies.

Gosh Walter.... for a mo, I thought you were leaving Kaikoura...

Calm down Walter....and choose your wording carefully....have a cuppa ...relax for ten ...you'll feel different  about it .

Cheer up bucko....your doing some good work ....anint no reason to throw the toys out the cot now is it....?

 Looking into the real world: How much longer are honest, hard working Kiwis saving and managing their money, not having mortgages are paying the price for unethical crooks destroying the world - debt- debt debt - for how much longer !!!!!

Restore my sentence or I'm out - It is up to you Bernard.

The fractional reserve banking system is fraudulent. OllyN must be aware of this and thus chooses to willingly participate in the fraud, promoting it in fact.

Capital gains are a con, a claim against future labour that can't be underwritten by a world rapidly running out of energy and resources.

Gummie's giving you a big " thumbs up " , Walter .

..... whatever happened to getting wealthier by hard work and by thrift . These days it has to be done the " easy " way , by banging in a few nails , slapping on a lick of paint , and hoping that some sucker pays you $ 10 extra for every dollar you put in . Daft !

Hang in there , Kaikoura Kid , your buddies are here .

[ .. Christov is correct , where is the love , Bernard , where is the love ! .. ]

yes Walter thumbs from me too...but you know...uh.. be careful out there...! 

Plenty of love for all here Christov, Gummy and Walter, but...

Let's take a deep breath before getting emotional about whatever Olly writes.

Best to argue back with facts and perspective rather than invective.

cheers

Bernard

A huge lack of " bed-side " manner there , Bernard .

Given Walter's track record as a long time blogger , and a constructive contributor , whoever edited his comment ought to have given an explanation  immediately .

.. Why hang the guy out to dry , guessing how he's transgressed ?

Gummy

Fair comment on the explanation. There has been a discussion via email.

But Take your point about everyone seeing everything.

At some stage though we have to step in to protect ourselves and keep it all orderly.

I'm sure you know the business. Ultimately, David and I are personally held responsible for whatever is said on the site.

cheers

Bernard

When posts are edited by site moderators or admins, that should be made explicit.  If there isn't a bolded 'Post edited by Interest Admindude', then the original poster is being misrepresented, and that isn't fair.

Unfair on Walter - Whatever he said. This edit completely misrepresents him.

Extraordinary. Olly's article appears at 8.37 am and within a few minutes the critics are attacking it without possibly being able to have read it in the time .

Just shows you there are posters on this site who just what to spit out criticism for the sake of it rather than debate the issue.  

I read in his article such careful expressions as " prudent"  "hard work"  " get good advice"  "not to be used to buy toys" etc etc

Maybe he is right. Putting money carefully into upgrading a property and increasing its value may be a better bet than trying to pay off the mortgage,

It's a view that should be debated by thoughtful people whether they agree or disagree with it.

I read it Big Daddy! And so did the other posters, as evidenced by the quotes from the article. One thing I will concede ( shock,horror) is that the rhetoric is 'mellowing'. I can't say Olly Newland has seen the light, yet....but a crack in the curtain of reality appears to have shone a ray of light on him.

True.  It's not so long ago (within last 12 to 18 months, I suppose), that he was advocating borrowing up big to buy toys on credit.

Advocating that people load up on real debt to superficially add to paper value  on the flawed assumption of future wage inflation is of equally debatable value, though.

He deserves the rubbishing because any advice he gives could lead young Kiwi into mortgage nightmares. Rates could just as easily explode into the high teens, as stay low forever and a day. It is the headline attention seeking behaviour he is displaying that makes this a serious matter.

Many posters here have long memories BigDaddy.  Perhaps you are unaware that Olly's been around for a fair few years and didn't always leave a trail of happy satisfied customers.

Bad reps can be difficult to shift.  Unfortunately Olly just has to suck that up with a big fat straw.

Is there anyone around who hasn't realised that BD is Olly's soooper-seekrit sockpuppet for not-very-successfully-incognito posting? 

Or he really is a creepy obsessive fanboy, which is somehow even more disturbing.

yes it is really very sad indeed that he does this, you really do have to worry

 

but remember "olly told you so"

and "write out 50 times olly was right" and blah blah blah

just some of the phrases that big daddy writes about himself in the third person

Originally I assumed that "BigDaddy" was the schoolboy troll who used to post as "The Man" because both used to post sycophantic love letters to Olly. But then I began to wonder if "The Man" and Olly were also actually one-and-the-same, which of course lead to the inevitable suspicion that both "The Man" and "BigDaddy" were really just Olly using troll language to tell us all how wonderful he really is.

Whatever the case, all three are clueless dickheads.

Bernard, why are you not editing this "dickhead' comment?

This may be slightly off topic but due to my opinion that tangible assets are going to trump" cash is king " when the global economy grinds to a halt next year, i zipped down to havelock north in hawkes bay ( the remuera of the Bay ) last week and threw down cash on a very desirable prop. with a GV of 825K  asking price 755K on a treed 1/4 acre.

i got it for considerably less than that asking price and irregardless of cap.gain that 18% drop will eventually show profit over years and at least my cash won't have evaporated due to Depression or inflation.

I noted on Q & A on Sunday ex-Labour party President Mike Williams was in Napier buying on the same principle..cheap in the regions..dat's for suuuure !

I personally now believe that property ( freehold only) or gold are the only decent proposition on offer in an unstable global economy.

Ollly is harmless but does believe what he says which is only one man's opinion, i guess?

eh, Christ-ove

He's not harmless Rob and you are right about property...good property. Cash is being destroyed by Bollard at 30 to 40% per ten years and while that may not seem to be much when placed alongside other national debasement rates, it still buggers saving in cash.

I too grabbed some land at bargain low levels....excellent land. But I used cash, not the bank drugs.

Gold is not an option for most. Paper ownership is worthless. Govt confiscation is always likely. Criminal violence and theft highly likely if you keep coins or bars.

yep...i paid cash, Wolly, which means a penalty on the term deposit break down to 1% interest but the bank helpfully informed me to put it into a Fastsaver account i have  and it would attract 3.2% till settlement next month.

I also have never owned actual gold but just heaps of stocks in co's like Newcrest who are the 4th largest in the world.

Gold equities have not enjoyed the same rises as gold but that's about to change as they find it harder and harder to source the stuff out of the ground. A

Also N/Crest de-hedged at a cost of over a billion way back around 1000 bucks an ounce so their profit announcement will be huge as they have a clear $A6-800 unhedged upside...

likewise, nice to see you again Mr. Christov....just got a bit bored with the sameness on here and have been busy buying up rest homes to secure a good room for Wolly and I. :-)

Bad news Rob...my alien contacts report an asteroid swarm heading this way..nothing larger than a cricket ball but every one is a gold platinum silver mix..mostly gold...set to storm our region for about 100 years..drop maybe 500 tons on the planet per year!

Tell them we don't want any more copper.

Why did you break your term deposit, Rob OTN? One aasumes that it was a rates higher than those current, and probably approaching the varable term mortage rate?. I hope you didn't let them rebate the break back to inception date. Using the t/d as collateral for a mortgage ( cash to secure a loan) is about as clean a transaction as one can get. Although I laughed, the last time I did it a few years ago, when they wanted me to put up an extra 10%, because that's what their lending criteria stated I needed to have as an 'equity participation'.

True that RobO...! good to see you around ...been missing some o that left field of yours about this place ...Stay well..! 

Cash is no different from any other asset, Rob. And whilst its price rises, one should keep it. If you try to pick the turn in the trend, you may be right or wrog. I'm prefrring to wait for the trend to change, and then sell ( borrow against my cash depsosits, used as collateral, Fixing a deposit for 5 years doen't mean having to run it to maturity). That's a spread lock-in, or cheap funding for whatever it is I decide will move next. Bond prices, globally, move higher, and there is a heap of scope for New Zealand,and most markedly-Australian, prices to move higher. That, for me, is where the 'safe' money is to be made.

" Should interest rates rise it means that the economy is improving or inflation is on its way which means higher wages and greater profits which should easily make up any difference"

This is utter rubbish. Rates are likely to rise because several major banks in europe are about to go under...leading to massive losses at other banks...leading to a rush to harvest cash by the survivors...meaning they will take the first and every opportunity they have to increase the rates on the loot they lend out. The NZ govt and the private banks here will find a market stuffed with borrowers and short on lenders who are also desparate for cash...

QED rates are highly likely to explode higher very quickly because the banks here and in aus will want to grab all the cash they can get long before they have to refi their foreign debts.

Do you understand?

I hope Sue and Brian paid any tax due for their property speculation. Especially as they are onto the next one already - I presume you advised them to pay tax Olly?

yeah - or Sue might sue

Olly is doing a brilliant job of highlighting why the policies of moving people away from property to reduce our  massvie overseas debt have been too weak to be effective given how low interest rates are.
It looks like the government is too scarred to do anything about it, and will just wait for another crash to do it, which will probably be instigated by more rating downgrades, and will much more messy than if they just had some political courage and made meaningful changes.

Just so. The contradictions in government/RBNZ policy are enormous.

Fingers crossed that Brian and Sue can find another sucker who believes  that a craptastic pre-fab kitchen is worth $150k.

Indeed capital gains tax is due on Sue and Brian house sale, however Olly notes to 'get outta jail free' they:

"listed it for rent on Trademe and were staggered to get 40 replies within 3 days. This sort of response told them that they had created something a little special so they decided to sell it, which they did within 2 weeks achieving  a sale price of $500,000 clear. "

I don't think that would wear with the IRD as a defence for not having the intention of sale at the time of purchase.  His advice is, as always, shadey.

Maybe the IRD should give Olly a call. He did say that he was the advisor and I assume he told his clients about their tax liabilities.

Better yet, Bernard and Co should give IRD a call and run the scenario past them and post their response here.  The point is - this site should not be promulgating tax evasion tactics - and to my reading that is the whole point of Olly's article, how to make tax free capital gains.

If your intention is to make them - then you have to pay tax on them.

That's my understanding anyway.

Then again, this story could be a porky one!

The only thing I can think of is this guy OllyN has the unique ability to grow his own bxlls.  You must have pretty big ones to walk into the bank and borrow more in this economic climate! 

Even here in QLD, the forecast for housing market is very grim...    

I don't think that would wear with the IRD as a defence for not having the intention of sale at the time of purchase.  His advice is, as always, shadey.

To be fair to Olly, there is no indication in that article at all as to whether they did or didnt pay any tax owing.  It is possible that they did.  So you cannot call his advice shadey based on that.  Based on some other stuff sure, but not that.

But Olly said:

Also: remember paying off a mortgage has to be done with tax paid dollars. Increasing the value of a property is tax free in most cases. Which one, then, is the obvious choice?

Now is the time to increase your mortgage, not to buy ‘toys’, but to reinvest into the home or investment through improvements and ultimate tax free capital gain.

He seems to be advising that such investment is tax-free whereas the IRD states that if your intention when buying is to sell at a later date then profit or loss from selling the property is taxable.

You're quite right SimonP, my mistake.

 I know I’m a straight shooter and I’m in trouble with a number of people (even friends) occasionally, but when we aren’t allow here, after reading regular authors opinions over many years, to call them what they deserve, – I’m wasting my time here.

 I read many of Olly’s articles and I often ask, why the “Hickey Team” not has a professional, who represents the NZproperty market and its people – differently.

But then no wonder - looking into current developments on many fronts – the world will never recover again, simply because among the powerful in societies ethic and moral requirements and standards don’t prevail. The race of greed continues – while quietly accepted by societies – to the bitter end.

Thank you all for some great debates and fun - Walter.

Well done Olly - that was an unexpected bonus!

meaning..?

Whatever the misunderstandings Walter...your intentions were always honorable...all the  best for you and yours .....next time your down the beach  take a good long smell at what you have got.

Take care of yourself n stay well.

Fair enough Walter.

We enjoy straight shooting, but sometimes we have to protect ourselves and ensure an orderly place.

We enjoy your contributions. Hope you stick around.

cheers

Bernard

 

You will be aware that swimming against the moronic tide is a duty to be stuck at, but good for you sticking to your guns.

The whole system is a stitch up from top to bottom, and listening to people here blather about things, which even if they got of their butt to do anything about, will make zero difference because they are in denial about what the core issues are, it simply can't register, comptuer says no etc...

The media is of course compliant and have revenue streams to protect, so this site becomes almost a zero entity because it has the abilty to do as much good as it does but chooses not to broach the "tricky stuff" so ultimately this site will go the way of the rest of the media sooner or later...

Always keep it real because once you corrupt yourself there is little chance of a return

Keep firing straight Kunst

Kiwiblog is probably more your style - good on Hiki for deleting abuse

Gordon once said "Greed is good!" 

Is property a good investment at this point in time and in this country? - There will be at least as many people saying "yes" as those who say "no". Olly N. thinks that it is a good investment, particularly if the investor adds value by improving the property. I don't think anyone can prove that he is not right and there are many who will agree with him.

Can one make good money by doing up and selling a property? - The answer is "yes", providing one purchases the right property in the right location at the right price and does the right renovation work in the right way...

Should one borrow (rather than pay cash) for any of the above? - Depends on one's risk perception. Any investment is risky to one extent or another, so the answer depends...

Should one be free to express one's (non-abusive) opinion and expect not to get abused? – Absolutely, but only when addressing a mature audience.

Walter, open a good red have a listen to this

http://www.youtube.com/watch?v=df-eLzao63I

then read this, its about our future, our date with destiny.

http://theautomaticearth.blogspot.com/

Walter... a fresh canvas.... date it. 

I offer a Bach masterclass with Tortelier  

Olly has lost the plot....IMHO....

No one should be borrowing more with a Depression on the Horizon and adding value to a house when is quite possibly going to drop 50% or more makes no sense to me.....there will never be the return on improvements......

regards

Not his plot steven!.

The lesson here is that this economy is not moving away from being deeply and dangerously reliant on property speculation. Bill English ought to read and think long and hard about what OllyN is saying. It tells me, Bill English has not done enough to turn the tide.

In short, OllyN should be preaching to empty halls. When that day comes, we will be making progress.

I sill think thisexample scenario Olly provides and accompanying article should be sent to IRD for comment.

If you guys don't want to do it, Bernard - then I'm happy to.

Olly Newland has got his figures wrong, again, in his examples, re

:". For example, if you have a $500,000 house with a $250,000 mortgage then your gearing is 50%.....If you spend a prudent $50,000 on upgrading...and the property ends up being worth (say) $750,000...then the mortgage - still at $250,000 against a $750,000 house is now only 33% geared."

Where did the $50k come from to do the reno work, Olly? Thin air! The owners equity participation has risen from $250k to $$300k; the revalued price is $750k. That's a ROI gearing ratio of 40%, and shouldn't be simply compared to the original mortgage.

Gee Bernard, get Olly to do a major piece each Friday.  It will definately get the web traffic up over the weekend.  That man is spouting pure madness.   Someone ought to sit him down and teach him about exponentials.  Good fun reading the comments though.

In Ollie's paralell universe, NZ needs MORE people like Mark Hotchin and Terry Serepisos.

When the Ponzi pyramid starts to look shaky, the Ollie solution is "more suckers, quick...."

There can't be any Ponzi scheme in Ollie's paralell universe, that is not actually a legitimate and sustainable route to "wealth". The supply of "greater suckers" must truly be infinite, people who say that Ponzi schemes always run out of them eventually must be telling untruths.

You're part of the pyramid, PB.

Still on about your precious immutable multiple, I see.

Sure there weren't 11 commandments? Surely if it were that important it would have been included?

What do you think incomes are made of, PB?

Super duper to have you back , Sore Loser . All good with you ?

... we're a tadge sad to see Walter spit the dummy .

Can't take things too seriously , can we !

Cheers : Gummy

GBH and others. There is a simple solution available to Kunst. If he feels strongly about particular issues he can set up a "blog". Easy to do. No charge. He can then express himself without fear-or-favour. Same as PDK and Tribeless and Ian Parker and Hugh Pavletich. Then he can promote himself here on Interest.co.nz by simply providing a link in his post to go see the full un-expurgated detail. He is then the owner of the content. I dont think BH could have a problem with that. The problem only arises when Kunst publishes the raw material here

There is always another solution WALTER.

Whilst a removal applies to daytime CENSORSHIP, your post may stand for sometime during the wee small hours and weekends and holidays and oversights.....

The WORLD reads what is writ here......even if a writ is the end result.

Particularly  helpful if you use another email address and non-de-plume.

No feather in your cap as KUNST.....but a small price to pay for getting the truth out there.

It is very easy to set up an ALTER EGO....and another email address to use.

Where there is a will, there is a way.

I do luv technology.

Alternatively....Send it to me......and I will post it all around the WORLD.

If one can cause a revolt elsewhere, via the INTERNET, then maybe a groundswell of the NZ TRUTH.....may be on the cards.

God knows we need to educate the WORLD with the TRUTH, never mind....NZ.

(By the way....whatever happened to the NZ paper of the same name)...

 

Maybe the TRUTH hurt there too...but as usual...I digress.

Or we could just bypass BURNHARD and his BLOGS-SIGHT........and cite our own.

If Burnhard does not wish to lose a valued BLOGGER in this fashion.....I have another simple suggestion.

It may actually PAY...... BURNHARD to perhaps edit and resubmit your prose in a form not libellious.....but re-bellious, after emailing you with his thoughts.....FIRST.

He ain't all bad.......just ..........TOO CAUTIOUS.....in most cases....But....and it is a big BUTT...... he does LUV the publicity you bring.

PRIVATE EYE magazine always luvved a stouch.....it gave them even more publicity and more of a following.

It ain't what you say...it is the way that you say it......in my humble opinion.

NO NAMES...NO PACK-DRILL  AS MY DEAR FART-HER USED TO SAY.

A RANT IS FAR BETTOR  WITH AN AUDIENCE THAN A DELETED FART IN  PRIVATE .....AYE.

Or .......or....

And so on...and so on.

 

But in my opinion......

Come on BURNHARD...do the right thing....we do not want another SORE-LOSER.

 

 

 I own everyone who supported me a “Thank You” and an explanation.

I’m of the strong opinion that citizens of western nations need to stand up against unethical behaviours, similar to what we are experiencing right now and expanding - on Wall Street gangsters.

http://www.washingtonsblog.com/2011/10/second-wave-of-protests-unleashed-targeting-federal-reserve.html - great guy !

I for myself better take advice; concentrate on listening to classical music and more relaxing military style activities: http://www.youtube.com/watch?v=bqZ24uYij1E

….and I sleep a lot better – not to worry about crooks – don’t name them.  The government/ media are looking after them – Q & A anyway – all is fine tomorrow - and again – turning into another silent member of our society – awaiting what is happening next – 11:11pm I’m sleepy.

You cannot name the crooks , Walter ... the parasites upon society , 'like Bernard Whimp , Eric Watson , Mark Hotchin , Doug Somers-Edgar , Rod Petrevic  ...... you cannot name the guilty , 'cos they have their " rights " ..

... innocent victims of their scams have no rights , none what-so-ever .. .. but the con artists are a protected species ....

And the Ollie Newland's of this world are only a squidgeon less contemptible than those feck-wits .....

... ... the mantra of NZ is munny for nuttin' . Cullen gave many an endless supply of someone else's labour , gratis . A student ? ... here's an interest free loan , you deserve it . ..... . Got 2 kiddies or more  , Okey diddily dokily , no problem , we'll give you all your tax back , even if you do earn $ 100 000 p.a. ...... it's all your's , you're " entitled "....... got one kiddie ?....  , feck off , you get nothing , go and bang out one more sprog , hop to it ......

Meanwhiles , down at the "coal-face " , within the bowels of industry , zippo ......no help , no favours , no assistence . .... . manufacturing ? Havn't you guys all re-located to China or to Vietnam !

.... crap ! ...  owners of business get just one vote apiece , whereas the myriads who constitute our favourite recipients within our welfare state , their votes add up to plenty . Better cater to their whims ( the parasitic leeches , God bless them for ticking our little boxes , 26 / 11 / 11 ! ) .

Great to see your return  SoreL...just thinking about you on Tuesday oddly enough...stay well!

I agree................WALTER...never, never, never GIVE UP....even if BILLIONS....have.

I'm in .........I want  Dunne's job...Bennett's...job...Powell's job...and...uh.. I'll find something to do with all the spare time.

Glad you're back... lol at "Work is not a four letter word."  Maybe it should be printed and put up in every class room accross the country to spread the message :)

Sometimes not so much the work Elley as the ethic carried into it.....often you find the entitlement attitude carries like a sleeping virus...

 in the style of S.L...........Disillusioned Offspring Leaving Education

I used to deal with a really successful businessman in the UK who was originally from India.  In the 90s when everybody was working hard to pay off debt, he went hay-wire and borrowed from wherever he could.  He said "I am in it for the long run" and as long as I keep the places rented out, rates will never go as high again as they are now.  I think he was paying about 7% on commercial loans. 

A bit different in the UK to here, as to buy investment property, you have to put down 33% of equity or cash deposit, but once you have your first rental up and running, you are laughing.  All the talk was - they will never be as low as 7% again - but he said the opposite.

Anyway, he ended up with about 300 properties and set up a property management business to run his properties.  He took a risk and it paid off.  Perhaps we are too cautious here and anybody who suggests taking calculated risks are villified.  I had never heard of the Tall Poppy thing until moving here, but after finding out what it is, I would like to say it is not only alive and kicking, but thriving in God's own.