Follow, retweet @dailypinster




Post new topic Reply to topic  [ 39 posts ]  Go to page Previous  1, 2, 3  Next
Author Message
 Post subject: Re: Irish builder gambles €100m on property market revival
PostPosted: Tue Jan 07, 2014 2:20 pm 
Offline
Under CAB Investigation

Joined: Feb 24, 2008
Posts: 1606
gurramok wrote:

Is there any significance to that or am I missing something? Isn't that the very reason why builders have so many legal entities? So that they are ringfenced from each other.


Top
 Profile  
 
 Post subject: Re: Irish builder gambles €100m on property market revival
PostPosted: Tue Jan 07, 2014 9:43 pm 
Offline
Under CAB Investigation

Joined: Apr 30, 2013
Posts: 1648
DSE3Br wrote:
gurramok wrote:

Is there any significance to that or am I missing something? Isn't that the very reason why builders have so many legal entities? So that they are ringfenced from each other.


Always better to have each development / asset in a separate legal company from multiple aspects (banking, VAT management, risk management, tax planning / avoidance, stamp duty planning / avoidance - I could go on......)


Top
 Profile  
 
 Post subject: Re: Irish builder gambles €100m on property market revival
PostPosted: Sun Feb 23, 2014 7:05 am 
Offline
Too Big to Fail

Joined: Nov 9, 2006
Posts: 4491
Location: South of the Border
Still living with the Mammy allegedly..sensible man 8)
Property market's Ronaldo has the world at his feet

http://www.independent.ie/business/comm ... 33838.html


Top
 Profile  
 
 Post subject: Re: Irish builder gambles €100m on property market revival
PostPosted: Sun Feb 23, 2014 7:41 am 
Offline
Nationalised
User avatar

Joined: Feb 9, 2010
Posts: 9019
Quote:
He claims he possesses a natural ability to understand economic trends, which came to the fore when he was still in secondary school and began taking an interest in the stock exchange.

And he's proved this ability over 14 years, 12 of which have consisted of one whole boom and bust?

*cough*bullshit*cough*


Top
 Profile  
 
 Post subject: Re: Irish builder gambles €100m on property market revival
PostPosted: Sun Feb 23, 2014 12:16 pm 
Offline
Of Systemic Importance
User avatar

Joined: Apr 1, 2009
Posts: 5311
Location: Utopia
Dude wears a Tommy Hilfiger pullover...

The interview reads like a Lenihan/Matthews script.
Wasn't there some other young nutjob spoofer from Arklow a few years back?


Top
 Profile  
 
 Post subject: Re: Irish builder gambles €100m on property market revival
PostPosted: Mon Feb 24, 2014 11:35 am 
Offline
Under CAB Investigation
User avatar

Joined: Nov 13, 2006
Posts: 1567
Quote:
THIS is the 28-year-old property tycoon who claims he is poised to make massive profits from his €100m gamble on the resurging housing market.

Greg Kavanagh is minted, single and well-paced to become the successor to the Celtic Tiger kings and queens who splurged their fortunes on failed developments.

But the enigmatic young man – who still lives at home with his mother and goes to Mass every week – says he is determined to learn from the mistakes of the past and insists money does not complete him.

........

Greg is confident in his business credentials, but appears reluctant to be the subject of public attention and is obviously wary of people delving too deep into his past.

He does not want to be seen to be courting the media, as he believes people who "brag and boast" do so to "gloss over something".

What an incredibly odd article. It would be easy to dismiss every aspect as something out of the Bubble era. It reminds me of the Irish dancer from Clondalkin selling apts in Cape Verde in so many ways however I know it isn't entirely fiction.

The company have made some incredibly good purchases, but these have tended to be small lots or very small half finished developments. I rather suspect there may only be a few million in funding which is now completely sunk into those assets and that the purpose of these articles is to generate finance to either complete or morph into something akin to a REIT.


Top
 Profile  
 
 Post subject: Re: Irish builder gambles €100m on property market revival
PostPosted: Tue Feb 25, 2014 11:22 am 
Offline
Under CAB Investigation

Joined: Sep 24, 2008
Posts: 2277
I know somebody in negotiation with him over a sale. Companies Office searches shows lots of companies of which he is a director but they all look like 2 euro companies. Sort of sceptical and have told person to look for some confirmation of means before progressing.


Top
 Profile  
 
 Post subject: Re: Irish builder gambles €100m on property market revival
PostPosted: Sun Mar 15, 2015 7:18 pm 
Offline
Nationalised

Joined: Sep 29, 2010
Posts: 8324
Location: London, innit
http://www.businesspost.ie/#!story/Home ... 21156f2008

fairly unflattering profile in the Business Post;

basically Greg has alienated the money men who backed him originally

Quote:
...
The English aristocrats are understood to have told associates that they never want to be in the same room as Kavanagh again. Piers Beckwith, the scion of the family, more likely to be pictured at society events in Tatler magazine than in the pages of The Sunday Business Post, admitted that “it wasn’t a very amicable relationship”.
...
Likewise, his relationship with Starwood has dissolved into nothing. The reasons behind the departure of so many backers remain in the realm of rumour, but one thing is clear: it hasn’t slowed his march too much....

Kavanagh is fond of telling people that “everyone who eats at my table gets rich”, which is certainly what he preaches to partners. Industry sources say that Kavanagh’s modus operandi is to blow other bids out of the water by offering above market rates for sites. In a rising market, you win every time on tactics like this. At the same time, his approach has earned him enemies as well as friends.
Two sources who have dealt with him described him as bright but unsophisticated financially – able to regurgitate what he reads in a prospectus or an industry report, but lacking in experience.
Questions remain over how effective his business model will be. Despite his profile and ambition, he has delivered relatively few complete housing units to date.


I mean, it's not like the Irish meejia to hype up a property developer who's actually a nasty bollox with poor grasp of financial reality, it it?


Top
 Profile  
 
 Post subject: Re: Irish builder gambles €100m on property market revival
PostPosted: Sun Mar 15, 2015 7:36 pm 
Offline
Nationalised

Joined: Oct 29, 2007
Posts: 11531
Location: Multiverse
I was wondering when this was going to appear in print.

:nin


Top
 Profile  
 
 Post subject: Re: Irish builder gambles €100m on property market revival
PostPosted: Sun Mar 15, 2015 8:35 pm 
Offline
Property Magnate

Joined: May 20, 2014
Posts: 702
Location: Location Location
Anyone who describes themselves as "the Ronaldo of business" (I presume he doesn't mean the fat Ronaldo) and lists "making money" amongst their main interests, has serious issues


Top
 Profile  
 
 Post subject: Re: Irish builder gambles €100m on property market revival
PostPosted: Mon Mar 16, 2015 12:57 pm 
Offline
Under CAB Investigation
User avatar

Joined: Feb 21, 2012
Posts: 2195
Location: South Dublin
Caesar wrote:
Anyone who describes themselves as "the Ronaldo of business" (I presume he doesn't mean the fat Ronaldo) and lists "making money" amongst their main interests, has serious issues

How do you think Jonny Ronan et al would describe themselves if they were being honest? Would love to read the rest of that article but if I subscribe to one more national or international newspaper I think there will be no money left for actual property buying. 8DD

_________________
Dublin's Great Estates Blog


Top
 Profile  
 
 Post subject: Re: Irish builder gambles €100m on property market revival
PostPosted: Mon Mar 16, 2015 1:07 pm 
Offline
Planning Tribunal Attendee

Joined: Feb 19, 2014
Posts: 1380
SoCoDu wrote:
Caesar wrote:
Anyone who describes themselves as "the Ronaldo of business" (I presume he doesn't mean the fat Ronaldo) and lists "making money" amongst their main interests, has serious issues

How do you think Jonny Ronan et al would describe themselves if they were being honest? Would love to read the rest of that article but if I subscribe to one more national or international newspaper I think there will be no money left for actual property buying. 8DD

You need a news clipping service.


Top
 Profile  
 
 Post subject: Re: Irish builder gambles €100m on property market revival
PostPosted: Mon Mar 16, 2015 2:05 pm 
Offline
Under CAB Investigation
User avatar

Joined: Feb 21, 2012
Posts: 2195
Location: South Dublin
Just read it there.
Quote:
He is the self-appointed ‘Cristiano Ronaldo of property development’, with a penchant for telling more established players just how much he’s going to be worth in the future, how many houses and Lamborghinis he will own – how he’ll out-earn and outspend everyone else, a billionaire in waiting.

Beyond cringe-worthy. One would imagine given the recent experience of fellow developers in similar rags-to-riches scenarios that he would be a bit less flash, considering that for the vast majority the riches turned back to rags save for whatever wealth was squirrelled away to their other halves. Assuming he isn't already married, he would be best advised to do so in the near future in case he suffers the same fate as those who came before him. :x
His track record thus far has been good, though. I was only thinking a few weeks ago that he must be set to make tens, if not hundreds, of millions by the time everything is developed, assuming it all is. His attitude isn't going to curry much favour with his peers nor the public, though.

_________________
Dublin's Great Estates Blog


Top
 Profile  
 
 Post subject: Re: Irish builder gambles €100m on property market revival
PostPosted: Mon Mar 16, 2015 2:08 pm 
Offline
Under CAB Investigation

Joined: Feb 1, 2007
Posts: 2207
Caesar wrote:
Anyone who describes themselves as "the Ronaldo of business" (I presume he doesn't mean the fat Ronaldo) and lists "making money" amongst their main interests, has serious issues



http://www.independent.ie/business/comm ... 33838.html


Quote:
Soon he had an account with a stockbroker and he was buying and selling shares like a 14-year-old Gordon Gecko.


lol, why didn't I do journalism, you just spout any old crap. I hear he has the libido of Ron Jeremy as well.

_________________
LEFT = RIGHT

Both trying to ride me...


Top
 Profile  
 
 Post subject: Re: Irish builder gambles €100m on property market revival
PostPosted: Mon Mar 16, 2015 9:09 pm 
Offline
Property Magnate

Joined: May 20, 2014
Posts: 702
Location: Location Location
jake76 wrote:
Caesar wrote:
Anyone who describes themselves as "the Ronaldo of business" (I presume he doesn't mean the fat Ronaldo) and lists "making money" amongst their main interests, has serious issues



http://www.independent.ie/business/comm ... 33838.html


Quote:
Soon he had an account with a stockbroker and he was buying and selling shares like a 14-year-old Gordon Gecko.


lol, why didn't I do journalism, you just spout any old crap. I hear he has the libido of Ron Jeremy as well.


What a complete load of gombeen shite. Typical fawning Irish media crap. I can't wait to hear about his good news story coming soon.... XX


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 39 posts ]  Go to page Previous  1, 2, 3  Next


Who is online

Users browsing this forum: No registered users and 7 guests


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum

Jump to:  

Follow, Retweet @dailypinster



Pyramid Built, Is Better Built! - Latest Property Discussions www.thepropertypin.com