Auckland developer Jeff Gao’s property empire is being swarmed and picked apart by creditors – he is on track to lose nine homes, shops or development sites in…
NZ Herald ·
Another developer living the high life on borrowed money. Who could've seen this coming 🙄
Bank's already got their pound of flesh. Insurance and fees will eat up anything left. Poor bastard won't see a cent.
ffs Remuera mansion gone. That's prime real estate, mate. Bet the bank's gonna make a killing off this.
Worked on one of his sites once. Paid late, dodgy as. Not surprised it all came crashing down.
I worked on a site for him too. Same story. Lucky if you got paid within 90 days. Absolute joke.
Double grammar zone and a Rolls-Royce? Yeah nah, that's just asking for trouble. Should've stuck with a Corolla.
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Feel a bit sorry for him actually. Must be gutting to lose it all. But also, play stupid games win stupid prizes I guess.
Nah. He knew what he was doing. Over-leveraged and hoping the market would save him. It didn't.
Wait, is this the same Jeff Gao who donated to that school? Yikes. This is gonna be all over the student group chats.
Yes! The guy who gave 'generous donations' while not paying his tradies. Classy.
Property developers are just gamblers with better suits. Change my mind.
with better suits and worse odds.
Saw the mansion on my walk this morning. Thought it was just renovations. Turns out it's a fire sale. Auckland property market is cooked.
of Remuera is gonna be on the market soon at this rate. Good time to be a buyer though.
