Australia, we’ve got it all wrong. Multi-millionaire property developer Tim Gurner didn’t enter the housing market with a $34,000 loan from his grandfather, and we were foolish for assuming he’d amassed his fortune based solely on that fortuitous cash injection.
The dosh for his first investment property was actually fronted by his fucking employer, who essentially spotted Gurner a cool $180,000. And it was Gurner himself who just volunteered this information.
In a chat to News Corp that seems, uh, counterintuitive, Gurner said the backlash to his comments on 60 Minutes regarding young people’s housing market woes was way out of line.
His justification was that he put some serious hard yakka into improving the St Kilda property, after he “was fortunate enough to have my boss at the time approach me to renovate [it] while he fronted up the money.”
Gurner says he combined “the small profits of $12,000” after the property’s sale with the $34,000 lent from his grandfather to swing for a $150,000 loan, which he used to purchase and renovate a gym, which he sold twelve months later.
Describing the hustle of his earlier years, Gurner said “they were also the darkest and hardest days of my life.” That may be true – but “darkest and hardest” is obviously a subjective measure, given the fact he admitted he was essentially gifted his first fixer-upper.
While Gurner admitted “it’s incredibly hard for people to get into the market,” he didn’t offer a retraction of his statements regarding young people’s apparent income-destroying obsession with smashed avocado and take-away coffees.
So, there you have it. Not having a grandparent with a spare $34,000 is only one of your problems – your boss not ponying up a property for you to profit from is another needless barrier. You doofus.
Photo: @gurner_tm / Instagram.