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Net worth of PTers

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  • #31
    Lurkers are just fine! Any time. Good to see you upgrade.
    Even better to hear that some of the reading has been
    inspirational for you. Roll on the next step/year!
    Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

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    • #32
      Ron,
      A second hand Ferrari is like a second hand pair of underpants - they might still be underpants but the world isn't too impressed. Best you opt for the new one. Stop slacking around. Work a bit harder - I'm sure you'll get there in the end.
      Julian
      Gimme $20k. You will receive some well packaged generic advice that will put you on the road to riches beyond your wildest dreams ...yeah right!

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      • #33
        Ave Net Worth

        Well, as it's raining today for the first time in 5 months..time for a spot of naval gazing ....

        Taking the mean figure for each grouping:

        0 *1 = 0
        37,500*1 = $37,500
        75,000*5 = $375,000
        175,000*6 = $1,050,000
        375,000*15 = $5,625,000
        625,000*18 = $11,250,000
        875,000*9 = $7,875,000
        1,500,000*35 = $52,500,000
        2,000,000*17 = $34,000,000

        Total of $112,712,500 / 107 = $1,053,387

        So as at 14.10.07 the average net worth of PT respondents is in excess of NZ$ 1 million. Not a bad place to hang out and keep learning I reckon

        All the best out there in investment land !!
        G
        Premium Villa Holidays in Turkey

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        • #34
          Or 48.5% of respondants are millionaires.

          What better reason to hang out on Pt and attend a few casual events with us all.

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          • #35
            Hi Revdev

            We visited Turkey for two weeks back in August and it was dry as then so if you have only just had rain it must be very welcome. Will send you more rain if you send in return some of your yummy Tomatoes and fruit, I wish we could buy produce here with the taste they have there in Turkey.
            Lots of unfinished housing there revdev whats the story ? run out of money to complete have they?

            Warwick

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            • #36
              Originally posted by hort1 View Post
              Hi Revdev

              We visited Turkey for two weeks back in August and it was dry as then so if you have only just had rain it must be very welcome. Will send you more rain if you send in return some of your yummy Tomatoes and fruit, I wish we could buy produce here with the taste they have there in Turkey.
              Lots of unfinished housing there revdev whats the story ? run out of money to complete have they?

              Warwick
              Hi Warwick,

              Yes it's been hot and dry so the rain is definitely welcome! I agree about the produce here..it's delicious and dirt cheap.

              Funny you should mention about the unfinished houses. By that I take it you are talking about the concrete columns and reinforcing rods sticking out the top of buildings? Would you believe that "finished" houses attract more property tax, so a lot of people deliberately leave them like this so as to get away with not paying the taxes that would be due. Mad but true

              All the best
              G
              Premium Villa Holidays in Turkey

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              • #37
                Originally posted by whitt View Post
                Or 48.5% of respondants are millionaires.

                What better reason to hang out on Pt and attend a few casual events with us all.
                Or even better 15% are multi millionaires.

                What is the average wealth level of a NZ'er compared to a PT forum user?
                PT= Over 1 Mill
                Average NZ= $125,000

                9 times the level of the average Kiwi
                Last edited by whitt; 20-10-2007, 01:50 PM.

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                • #38
                  I find the results interesting insofar as there are less Pters with $1m equity than Pters with $2m ++.

                  I suspect there are more NZ property investors with $1m equity than $2m++ so why wouldn't our poll reflect that?

                  I have three possible explanations:
                  1. Many property vestors reach the $1m mark and they are happy with their portfolio and prefer to sit on it rather than grow it further -
                  2. Or they are leverage locked - and can not borrow any more money.
                  3. A third explanation may be that the $1m equity investors are older and have acquired the position from 1 or 2 properties and may not consider themselves property investors.
                  Cheers,

                  Donna
                  SEARCH PropertyTalk, About PropertyTalk

                  BusinessBlogs - the best business articles are found here

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                  • #39
                    Perhaps a better idea of true nett worth would be if people took off selling costs including conveyancing, agent's fees, depreciation claw-back etc.

                    I'm guessing that if a lot of people wished to cash-out their investments their wealth would not be as grand as they might otherwise think.

                    It's all academic anyway, as property values aren't known with any degree of certainty until they are sold. Valuers get it wrong much of the time.

                    Julian
                    Gimme $20k. You will receive some well packaged generic advice that will put you on the road to riches beyond your wildest dreams ...yeah right!

                    Comment


                    • #40
                      So have we managed to establish an average net worth figure for New Zealanders that is reasonably current?

                      Any sort of breakdown by age bracket would be even better.

                      I've just committed a relatively unsuccessful hour of research to this question - so any pointers to figures that are more current than the 2001 Household Survey would be much appreciated.

                      It's basically just a question I am asking in search of some personal encouragement. It's been a hardworking year.

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                      • #41
                        Does anyone have a spreadsheet I can use to calculate mine or some other formula you guys use.

                        Thanks
                        FH

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                        • #42
                          Originally posted by freezinhot View Post
                          Does anyone have a spreadsheet I can use to calculate mine or some other formula you guys use.

                          Thanks
                          FH
                          Are you wanting to calculate net worth/ equity?

                          Simply add up what you control and then minus off this figure what you owe on it.

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                          • #43
                            Hi Whitt

                            yeah thanks, Dean had told me the same, great minds think alike.

                            Pretty simple huh! I always try and complicate things.

                            FH

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                            • #44
                              Originally posted by freezinhot View Post
                              Does anyone have a spreadsheet I can use to calculate mine or some other formula you guys use.

                              Thanks
                              FH
                              Hello FH,

                              This is not meant to be a dig at you in particular but your post did get me thinking. Not to hijack this thread I have started up a new one...

                              http://www.propertytalk.com/forum/sh...2959#post92959

                              xris

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                              • #45
                                It's easy to forget the other investments you have and need to add into the equation.....and any other debts too.

                                Cheers,

                                Donna
                                SEARCH PropertyTalk, About PropertyTalk

                                BusinessBlogs - the best business articles are found here

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