Powered by MOMENTUM MEDIA

Lessons learned from a young property investor

investor-stories
1 minute read

Lessons learned from a young property investor

by Cameron Micallef 23 April 2020 1 minute read

Property investing is a journey with new skills learned along the way, as a young property investor found out after purchasing his first property.

Jason Chapman
April 23, 2020

In a conversation on The Smart Property Investment Show, property investor Jason Chapman and Phil Tarrant discussed the young investor’s journey so far and some of the lessons he’s picked up along the way.

Buying his first investment while still living with mum and dad, Mr Chapman bought his place without much research, saying: “But the logic behind it was, it might not be in the best area at the moment, but you can throw a rock and hit million-dollar houses on the water, so I figured that has to count for something in the future.”

Mr Chapman explained how he learned the value of insurance after an accident with a tenant that would’ve left him with a clean-up bill and a loss of rent.

“Funny story, I bought it as it is. About a year and half ago, the last tenant accidentally set the back half of the house on fire.”

Advertisement
Advertisement

“So I had to gut all that, I had to do a whole bunch of work, and I had to go to tribunal,” Mr Chapman said.

“While that was getting repaired and fixed, I went through and spent a bit more money. I got the whole outside repainted, did a few other little things as well, like put a new toilet in and tidy it all up.”

“It actually worked in my favour because once it was all said and done, I was able to get a little more rent for it,” Mr Chapman concluded.

Lessons learned from a young property investor
Jason Chapman
spi logo

About the author

Cameron Micallef

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your... Read more

From the web

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.