Tradie buys his FOURTH property aged just 22 without any help from his parents - and reveals his five tips for scraping together enough cash to snap up a home
- Queensland tradesman Norbert Kaess bought his first property at the age of 20
- He is now 22 and owns a total of four properties in different parts of Queensland
- Mr Kaess believes Townsville is the 'perfect place' for young buyers to invest
A young tradesman who bought his fourth property at the age of 22 without any help from his parents attributes his success to working long hours, saving hard and buying smart.
Norbert Kaess, a 22-year-old tiler from Queensland, also puts down his success in the property market to investing in run-down homes he can renovate and rent out.
Mr Kaess started saving for his first home soon after graduating high school.
The ambitious worker was 20 when he made a deposit of $20,000 on his first property in West End, an older suburb in Townsville.
Tradesman Norbert Kaess (pictured outside his fourth property in Brisbane) started investing when he was 20
He said he sacrificed his weekends and worked long and hard hours to scrape together the cash.
'I would still go out with friends on a Saturday night, but instead of being hungover in bed on Sunday I'd be hungover at work,' Mr Kaess told Townsville Bulletin.
Mr Kaess, who is now earning $1,600 a week in rental yield, said Townsville was the perfect place for young buyers to invest.
Mr Kaess bought his second property in Belgian Gardens at the age of 21, before adding properties in Brisbane and Bowen to his portfolio the following year.
In a Facebook post after buying the Brisbane home, he thanked his tradesmen mates for helping him renovate his properties to make them fit for the rental market.
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'I wasn't sure how achievable this would be by 22 and juggling the renovations of my house in Brisbane and here at the same time is a little bit tricky,' he wrote.
'So to all my tradie mates and friends that lend their time and skills to help me I could not be more thankful.
'It means the world to me and your favours won't be forgotten.'
Mr Kaess (pictured left) said he worked long hours and even worked on Sundays. He believes Townsville is the perfect place for young buyers to invest
Mr Kaess said it was important for young investors looking to crack the property market to spend money on an experienced mortgage broker.
'These people have years of experience; they will compare a range of banks and talk it through with you so you’re getting the best deal,' he told realestate.com.au.
He also suggested young buyers should avoid buying brand new properties and instead look for deceased or repossessed estates.
'The people who own the property didn’t pay for it, and they don’t have an emotional attachment, so they’re usually willing to settle for less,' he explained.
He also advised young property investors to spend extra care researching before buying their first home, and to consider buying on multi-use land.
'It’s (multi-use land) attractive to a broader range of people; including developers at re-sale. You should also check with a town planner before you buy so they can tell you exactly what you can and can’t do with the block.'
Mr Kaess stressed the importance of not using equity to secure house deposits.
'I didn't use equity to buy the next properties, I started from scratch again and saved for a deposit. I didn't want to stick to one economy so I decided to buy in low, medium and high-risk areas,' he said.
'Low-risk was Brisbane because it's metro, high-risk was Bowen because I figured it was subject to Adani going through, and medium-risk was Townsville.'
He said he followed the footsteps of his elder brother, a successful investor, and used his guidance before investing.
