Young Guns of Australian property

16th October 2007

For an age group dubbed 'Generation Rent', Generation Y is throwing up a surprisingly high number of successful property investors.

Australian Property Investor magazine invites you to meet five more Young Guns of Australian property. Featured in API's October issue are:

Damien Moriarty

At age 26, Damien owns 12 properties in Darwin. He’s also a previous nominee for the NT’s Young Australian of the Year, a budding philanthropist and heavily involved in the Ship for World Youth organisation. Among all that, he's also managed to start a home building company and a finance company with his brother.

"The key to financial freedom is investment because your income is only ever going to be finite – you can only be in one place at one time," Damien tells API.

"I look at it as if I've got a number of properties then it's like having a number of workers all working to make me money." By that measure, Damien has 12 workers on staff.

Kenneth Soward

Kenneth Soward is a character fit for a challenge: he's in a wheelchair as a result of an accident a couple of years ago. Rather than stopping him from doing anything, Kenneth says it's spurred him to get busy with property investing.

Kenneth owns six properties in Adelaide, worth about $1.4 million. Yet his investing acumen means the portfolio will only cost him about $6000 in the first year.

David Stewart

Few 12-year-olds would give buying property even a passing thought. But at that tender age, David Stewart had started saving for his first real estate purchase.

At his mum's encouragement, David started saving money from his after-school jobs and by age 17 was able to buy a one-bedroom unit across the road from the beach at Cronulla in Sydney. He now owns three properties in Sydney.

Adam Drabarek

At just 22, Adam Drabarek owns three properties in three different states. He's invested at Kalgoorlie in Western Australia, Sarina in north Queensland and finally at Darlinghurst in his home town, Sydney.

"My mum thought I was completely insane," Adam says, recalling the day when he flew to Kalgoorlie to buy property even though he didn't yet have his driver's licence.

Glenn Staker

Gold Coaster Glenn Staker, 29, used to spend all his money on cars but then decided to change his priorities, move back in with mum and dad and start saving for a property.

"I budgeted properly and if I spent $2 on a can of Coke I'd go and re-adjust my budget that day," he says.

Glenn now owns two properties on the Gold Coast and is weighing his options on buying a third.

 

© Australian Property Investor magazine - www.apimagazine.com.au. Reproduced with permission. To subscribe to API, go to www.apimagazine.com.au or pick up a copy from your local newsagent.

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