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Thread: Ugly Buildings

  1. #21
    Join Date
    May 2008
    Posts
    2,911

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    Quote Originally Posted by Wayne View Post
    He is so against developing I'd be surprised if he is doing it himself.
    You sure he hasn't got a developer to build him something that he will buy - not the same thing as being the developer himself (the risk is with the developer)?
    One of his buildings got damaged in the earthquake last year and needs to come down.
    Bob now has the luxury of getting a replacement building - maybe for free.
    Instead of paying some latte-drinking jaffa who wears sunglasses on his head, Bob figured he could design it himself as he's an expert on property.
    How hard could it be?
    So he's not really developing, he's just having a bit of fun with the insurance money.

  2. #22
    Join Date
    Mar 2015
    Location
    Brisbane Wellington Auckland
    Posts
    478

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    Quote Originally Posted by Davo36 View Post
    Well of course he's a very successful investor. I wasn't questioning that.

    But I've read all his books, articles etc. And in many of them he:

    1) Is very clear on his differentiation of property investor vs property developer.

    2) He says many times that all developers go broke. Here's a few quotes Google brought up:

    Link

    Link

    Link

    So I find it really interesting that he's developing. Now this is small compared to the value of all his other holdings, so even if he makes no money out of it and/or it costs twice as much to build as he thinks etc etc. he won't go broke or anything.

    But seriously, I think this might be a signal we're at the top of the market. He can't find any investments that fit his criteria. He's being fussy of course, but there's probably also very few office towers on the market just now.

    You heard it here first lol.
    Read the quotes....
    I liked the one about the worst businesses. ..forest ..airlines. ..not so happy to read about hotels :-(


 

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