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Tim Gurner hits back after he was slammed by millennials

A young property tycoon who was slammed by millennials for his comments about their spending habits and unrealistic expectations has hit back at his critics.

Tim Gurner, 35, from Melbourne, made the highly controversial comments on Channel Nine’s 60 Minutes program on Sunday.

‘When I was trying to buy my first home, I wasn’t buying smashed avocado for $19 and four coffees at $4 each,’ he said.

‘The expectations of younger people are very, very high. They want to eat out every day, they want travel to Europe every year.

 

Mr Gurner (pictured), from Melbourne, who was slammed by millennials for his comments about their spending habits and unrealistic expectations, has hit back at his critics

Tim Gurner (pictured with his wife Aimee), 35, claimed Generation Y need to stop travelling and spending money on overpriced food to save for their first home

Tim Gurner (pictured with his wife Aimee), 35, claimed Generation Y need to stop travelling and spending money on overpriced food to save for their first home

‘This generation is watching the Kardashians and thinking that’s normal – thinking owning a Bentley is normal.’

His comments caused outrage among Generation Y, with many claiming Mr Gurner got lucky because his grandfather lent him $34,000 for his first investment.

The multi-millionaire has now responded, claiming it is ‘incorrect’ he had help getting on the property market.

His first investment property was a flat purchased by his boss for $180,000 in Melbourne’s St Kilda, he told news.com.au.

He said he was offered to carry out renovations while his boss forked out the money.  

Mr Gurner's (pictured with wife)  comments caused outrage among Generation Y, with many claiming he got lucky because his grandfather lent him $34,000 for his first investment

Mr Gurner’s (pictured with wife)  comments caused outrage among Generation Y, with many claiming he got lucky because his grandfather lent him $34,000 for his first investment

Mr Gurner made more than $10million in an hour in 2015 when buyers snapped up penthouses in his luxury development in Melbourne. Pictured, his Brisbane complex, The Flatiron

Mr Gurner made more than $10million in an hour in 2015 when buyers snapped up penthouses in his luxury development in Melbourne. Pictured, his Brisbane complex, The Flatiron

'I sacrificed a huge amount through those years, working multiple jobs, seven days a week and I saved absolutely every penny that I could,' said Mr Guner, pictured centre 

‘I sacrificed a huge amount through those years, working multiple jobs, seven days a week and I saved absolutely every penny that I could,’ said Mr Guner, pictured centre 

‘I spent every night on my hands and knees sanding back the floors, painting, renovating and working on the house. When we sold it, I used the small profits of $12,000 to purchase my next property and it all grew from there,’ he said.

‘I sacrificed a huge amount through those years, working multiple jobs, seven days a week and I saved absolutely every penny that I could.’

He said he used the $12,000 – plus a $34,000 loan from his grandfather – to borrow $150,000 to buy a gym, which he renovated and turned into a thriving business.

‘They were also the darkest and hardest days of my life – I was only 18 and had just taken on a huge personal loan and needed to stop at nothing to ensure I didn’t go under,’ he told the publication. 

He ran the gym for 12 months before selling it to a competitor and starting his career as a property developer. 

After founding his company, Gurner, in 2013, he now has billions of dollars worth of projects across Australia. 

He said he used the $12,000 - plus a $34,000 loan from his grandfather - to borrow $150,000 to buy a gym, which he renovated and turned into a thriving business 

He said he used the $12,000 – plus a $34,000 loan from his grandfather – to borrow $150,000 to buy a gym, which he renovated and turned into a thriving business 

Mr Gurner told 60 Minutes Generation Y needs to start saving for their first home amid the Australia's housing affordability crisis

Mr Gurner told 60 Minutes Generation Y needs to start saving for their first home amid the Australia’s housing affordability crisis

Mr Gurner appeared on the BRW Young Rich List in 2015 in eighth place when he was worth $430million.

That year, he made more than $10million in an hour when buyers snapped up penthouses in his luxury development in Melbourne, domain.com.au reported.

Worth $473million, he has been named Australia’s 157th richest person on the 2017 Financial Review Rich List.

During his controversial appearance on 60 Minutes, Mr Gurner said Generation Y’s expectations were far too high when it came to purchasing property.    

‘You’re not going to get a house in (Melbourne’s) Camberwell for $700,000. You’re not going to get one in Alexandria in Sydney or in Newstead in Brisbane,’ he said.

After founding his company, Gurner, in 2013, he now has billions of dollars worth of projects across Australia

After founding his company, Gurner, in 2013, he now has billions of dollars worth of projects across Australia

Worth $473million, he has been named Australia's 157th richest person on the 2017 Financial Review Rich List

Worth $473million, he has been named Australia’s 157th richest person on the 2017 Financial Review Rich List

‘The market has changed. You can go to Perth, you can go to Darwin. But you have to start to get realistic about your expectations. 

‘You might have to buy an investment property first. You might have to share with mum and dad – you might have to buy with a friend. 

‘But you’ve got to get your foot in the door and you’ve got to slowly get up the ladder.’ 

The 35-year-old said Generation Y needs to lower expectations when it comes to the property market (stock)

The 35-year-old said Generation Y needs to lower expectations when it comes to the property market (stock)

'This generation is watching the Kardashians and thinking that's normal, thinking owning a Bentley is normal,' he said. Pictured, housing with water views at Woollahra, Sydney.

‘This generation is watching the Kardashians and thinking that’s normal, thinking owning a Bentley is normal,’ he said. Pictured, housing with water views at Woollahra, Sydney.

He was widely ridiculed on social media, with many pointing to the loan he received from his grandfather as his way in to the market. 

One social media comment read: ‘Maybe the new home buyers would stand more of a chance if they were given 34K by their grandad… that’s a fair few smashed avos.’

Another added: ‘Nice if you can get it,’ while one commented: ‘Much like Trump’s dad gave him a ‘small loan of $1Mil.’  

 

 

Mr Gurner was widely ridiculed on social media following his appearance on 60 Minutes, with many pointing to the loan he received from his grandfather as his way in to the market

Mr Gurner was widely ridiculed on social media following his appearance on 60 Minutes, with many pointing to the loan he received from his grandfather as his way in to the market



Read more at DailyMail.co.uk


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