M
eet 21-year-old Mel, 21-year-old William and Chanae, 23, three young people established as ambassadors for the Asset Building Club (ABC), an initiative to show 18 to 30-year-olds the way to property ownership. CHANAE IS SAVING FOR A DEPOSIT. This is stage 1 - someone who has made the decision to get on the property ladder, that it is time to budget and save, and is serious about changing their life to accommodate this. MELANIE IS AT STAGE 2. She has saved the money for a deposit and needs to now know the process. She has put in a couple of offers, with guidance, but not yet purchased. WILLIAM IS AT STAGE 3. He has acquired two properties and targets $1million in property assets by age 25. They regularly invite the ‘Jamies’ in their local community north of Brisbane, any 18- to 30-yearold male or female keen to begin a property journey or at any stage along the way, to be part of the Asset Building Club. Here is how they view their responsibility along with some thoughts on property ownership.
HOW DO YOU FEEL ABOUT BEING AN ‘AMBASSADOR’ FOR YOUNG PEOPLE INVESTING IN REAL ESTATE? WILLIAM: I’m excited. I feel like a lot of people my age don’t understand the benefits and the possibilities you can create by investing in real estate, especially at a young age. So, it’s awesome to be able to show and help people create wealth in something I’m passionate about. CHANAE: As I am just at the beginning stages, I feel I am the most relatable to people in the same boat – still in the saving process or those that aren’t sure where to start. The relaxed ABC setting and the fact that we three are of similar ages shows them how achievable it is for them to begin the journey.
HOW DOES THE THOUGHT OF OWNING PROPERTY MAKE YOU FEEL? WILLIAM: Having family working in real estate has always made me interested in property. When I bought my first property at 19, I was excited but also nervous to finally step out into the world and become an adult. It is the best thing I have done. MEL: Excited and independent.
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THE AMBASSADORS WHY DO YOU THINK YOUNG PEOPLE ARE RELUCTANT TO BUY – OR THINK THEY CAN’T BUY - PROPERTY?
WHAT HAPPENED IN THE LEAD UP TO YOU TAKING THAT FIRST STEP UP ON THE PROPERTY LADDER?
WILLIAM: I think it’s because people don’t even know where to start, which is the whole reason we started ABC. We can show young people that with access to the right people and, hopefully, with some guidance from us, they are on track to purchasing their first Investment property/home.
WILLIAM: When I was 18, RE/MAX hosted a first home buyers’ night, a lot like our ABC event, where I was shown the possibilities and the rewards of getting in the market at an early age.
MEL: A lot of young people think they can’t afford to purchase, especially in today’s market. There isn’t much education for teens around purchasing a property and what you need. Student debt also prevents many young people from saving a deposit. CHANAE: Many have little understanding of what is required to get a bank loan, haven’t been taught money management skills or have received no real guidance on where to begin, making the entire process seem daunting.
MEL: I just saved consistently since graduating school and when I had enough savings, I got in touch with a Pivotal Financial broker who sorted out all my finances and then spoke to our buyer’s agent who will now find me a property.
