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Teaching children the value of property investments and the skills required to be successful at it can go a long way to shaping their investment future, explained an industry expert.
In a recent episode of the Smart Property Investment Show, Anjay Zazulak shared how his former McDonald’s CEO father got him started on his property journey, by spending his weekends renovating properties.
“My property journey started through [my dad]. When I was 12, my dad was buying one or two properties a year and renovating them, so my weekends were spent renovating kitchens, striping wallpaper, ripping up carpet. I just thought that is what every kid did,” Mr Zazulak explained.
Mr Zazulak said that it gave him a good apprenticeship for what he is currently doing, with the skills learnt in childhood guiding him today.
When his family moved to Australia, Mr Zazulak took his lessons learnt in New Zealand “in finding properties at the right price, renovating to add value and sitting on it for three to five years”.
The property investor explained his father’s one regret in life was not starting his property journey sooner, as the investor retired just six years after starting his property journey.
“He quit work and moved to Australia in ’99. From the time we were in Australia, we were buying one to two properties a year to get away from mum,” he jokingly said.
“It was just a hobby. He took the skills that we did in New Zealand. A lot of the properties in New Zealand were on big blocks, so you could build or subdivide off the back of that.”
The property investor explained the net results of this strategy and his family’s hard work was creating a nice nest egg for the family, which now owns more than 20 properties across the upper and lower North Shore of Sydney.