Owner of seven properties says landlords getting a raw deal

'Good times are over': Property investor says landlords getting a raw deal



Andrew Duggan owns seven homes, but he wants people to know he's not a bad bloke.

He's been flipping properties in Queensland from a home office in Sydney for 25 years and seems acutely familiar with the public perception of landlords.

"Landlords are very unpopular people," Mr Duggan said.

"There's the perception of the evil landlord, the cinematic slum lord idea.

"And there's a perception that landlords are sitting on piles of cash and sitting around on our yachts.

"The reality is whilst we have the titles to these properties, they're very much mortgaged."

He insisted he was not doing an interview to "cry poor", but despondently declared "the good times for landlords are over".

A long-time advocate of buying up real estate, he's considering selling up and getting out of the property game.

Mr Duggan said the decline of his lucrative portfolio began five years ago when he was locked into an excessive interest rate with a major bank.

But he is also critical of tenancy laws and state-based land taxes.

Cont...........

 

Ok... who is sitting on their piles on cash on their yacht right now...? Confess.

 

Interesting article, the CTO of some buy-now-pay-later company complaining he has a raw deal with being a landlord when they remove things like no-grounds evictions: 'Good times are over': Property investor says landlords getting a raw deal

 

James Packer.

 

Imagine putting on the high-vis for the photoshoot to show you're just an average battler, while your properties are in QLD and the rental laws are finally catching up with the rest of the country (which are still garbage), while you're the CTO of a buy-now-pay-later company, living in Sydney, and worked in finance/lending all your life. It's like a Betoota article.

 

Which company is he CTO of? Are you certain about this or have you got some sort of gripe with him?

 

Not me.

 

https://au.linkedin.com/in/aduggan

CTO of CloudFloat. Very easy to see in the article, he's wearing a shirt.

 

Personally I thought his article was whingy, moaning and exaggerated, the kind of attitude that if it was an article featuring a tenant would be roundly derided or criticised...

However, that's got nothing to do with him being a cto of a company, a labourer,, a retail worker, whatever. He was giving his perspective as an experienced landlord and his position at work is irrelevant

 

Just pointing out the absurdity of the photo-op, and the obvious image they are trying to conjure for the story. Another person in another thread mentioned that he was probably just some labourer based on the clothes. This sort of impression matters, hence the photo-op. It is a bit deceptive. He was giving his perspective as an experienced and what appears to be unethical landlord, despite his likely high income background, likely living in a rich area in Sydney. He is not a "working class battler", that they try to portray.

He even complains that when people take you to the tribunal, it always goes the tenants way. If the tenant takes you to the tribunal, you probably did something wrong as a landlord. The fact that he complains about that state of affairs just speaks to the absurdity again.

 

The number of properties a landlord has is irrelevant as to whether or not they're getting a raw deal, or are a good or bad person.

Anyway, if someone thinks a landlord of 10 properties is evil etc etc, good on em. Couldn't care less myself if others want to judge me for how many investments I have.

 

You are making absurd comments about a normal person wearing normal clothes. The Impression you get and comments says alot about you and your odd mindset. Not only labourers wear those clothes and so what if they did.

 

He just happened to be trimming his hedge, in his special high viz tshirt, when the photographer arrived. Or maybe that was his butler, as the photos make it look like a different person.

 

Anybody can wear high vis shirts/vests. You don't have to be a labourer in order to wear them, and the logo on the shirt he's wearing doesn't mean that he works for that Company. It's totally irrelevant. There is nothing in that article that says where he works or what his income is

Where did you get the unethical landlord from? He said he has 7 properties located in Qld. He's put the rent up on only ONE of them. Seems pretty decent to me. I'd have put the rent up on them all as the market value in most areas has moved dramatically in the last few years. You are showing a distinct bias saying things like 'likely high income' and 'likely living in a rich area'.

You don't KNOW his income, nor do you KNOW where he lives. The attitude you are displaying says that you think that someone with 7 properties must be rich, and I can tell you that this perception is flawed.

The actual quote is "Mr Duggan said the "default" position of civil tribunals adjudicating disputes between property owners and their renters was that "the property owner will always lose"."

He didn't say that tenants had taken him to tribunal. But as a landlord you can take a tenant to tribunal. That doesn't say that the landlord has done something wrong, but that a tenant has done something wrong. And he's partly right! You can take a tenant to tribunal, and it will depend on the bias of the member whether or not you will win despite sometimes what should be a clear cut case.

 

So this person been in business for 25 years and in-between buys and sells property and runs x amount of rental properties --and if this is the world he live in then he and who ever he wakes up next too have done well to hold that amount of maybe unencumbered free title properties and now the transition period ..

Myself i can't understand the problem and confusion as what other people think is not important maybe read a quote from Kerry Packer ..
Never complain-Never explain..

 

I assumed the hi-vis garb and action shots were meant to suggest he was a hardworking landlord, fulfilling duties to look after properties by mowing etc.

Probably had to get him outside because it would have had less impact if he was inside cleaning the chandelier or rotating bottles in his wine cellar.

 

no butler?

 

Yeah I do, I can easily estimate based on his LinkedIn profile. CTO for a fintech company, office in Sydney CBD, at least 20 employees in the company. Not hard to imagine a decent salary. Lives in Sydney, obviously.