We’re definitely no stranger to calling out the young people that own more property than most baby boomers, or those that are willing to drop a stupid amount of money on just one place, but Andrew Morello is a bit different.
Unlike some lucky homeowners that make their mark on the back of their parents fortunes, Andrew’s property portfolio is completely self-made.
While you were spending your free time getting into arguments with strangers on the internet, Andrew was working hard to buy his first property at the age of eighteen with a deposit of $50,000.
Not a bad amount of money amassed from after school jobs, particularly when his dad only paid him $5 a day to work at his service station. Rough.
The property in North Melbourne cost him around $300,000 and allowed him to get a fairly sturdy foot in the door of the property game.
He got his second property at the age of twenty and from there was able to build his portfolio to the nine investments he holds today, including some swanky blue chip real estate in Sydney.
Leaving the family business at fourteen because his dad refused to give him a pay rise, Morello received a $10,000 government grant to start an under 18s event company.
Fourteen! All I ever wanted to do at fourteen was play Nintendo and in all honesty, I regret nothing. Nintendo rules.
After spending some time in the real estate industry, the young go-getter scored a place on reality TV show The Apprentice in 2009, which he went on to win.
Morello has since been the head of business development at Yellow Brick Road, run by the host of the TV show, Mark Bouris.
This particular young investor just goes to show that it is possible for gen Y to break into real estate game, as long as you have the drive and discipline to do it.
Not me though, I’m sticking to Nintendo.