While millennials struggle to even dream about owning a home in today's highly-inflated market, this six-year-old has upped the game.?
A young girl named Ruby, along with her brother Gus and sister Lucy McLellan, has purchased their own home in Clyde, Melbourne, Australia. The siblings pooled in their pocket money to buy the property worth A$671,000 (Rs 3.6 crore).
The children's father, Cam McLellan, is a property investment expert who helped them with the process.?
"My name is Ruby and I¡¯m six years old and I¡¯m about to buy my first house," Ruby told?7NEWS.
"Financially they have each contributed $2000 and they have saved that up," the 47-year-old dad added.
The children managed to accumulate wealth by doing household chores. They also packed their father's revamped best-selling book.
"It¡¯s written for my kids to use when they¡¯re old enough, so I¡¯ve outlined all the steps it takes to build a property portfolio," McLellan said.
According to Cam, the home's value will double in 10 years.?"The price on that block has already gone up $70,000, so they¡¯ve done well so far," he said.
The young landlords plan to sell the property in 2032 and split the profits.
Cam managed to retire at the age of 36 after figuring out a way to earn $250,000 every year without working. He had started collecting properties at 20 and generates enough passive income annually to avoid working.?
"I was working three to four jobs, everything from forklift driving to stacking shelves in supermarkets, I just did that to survive," Cam told?news.au.
He added, "My driving force for investing was I hated my alarm clock, didn¡¯t want to keep working for 50 years."
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