{"id":36190,"date":"2021-12-21T15:37:52","date_gmt":"2021-12-21T02:37:52","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=36190"},"modified":"2021-12-21T15:37:52","modified_gmt":"2021-12-21T02:37:52","slug":"6yo-buys-671k-home-with-pocket-money","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/6yo-buys-671k-home-with-pocket-money\/","title":{"rendered":"6yo buys $671k home with pocket money"},"content":{"rendered":"

PHOTO: The kids got a helping hand from property expert dad, Cam. Picture: 7 News<\/strong><\/p>\n

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Three Melbourne siblings are on their way to becoming property moguls after pooling their pocket money to buy their first home.<\/p>\n<\/div>\n

With the help of their property investment guru father Cam McLellan, six-year-old Ruby, her brother Gus and sister Lucy have just managed to snap up their first home in Clyde in the city\u2019s southeast.<\/p>\n

The family told\u00a07 News\u00a0they planned to sell the home in 2032 and then split the cash.<\/p>\n

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\u201cMy name is Ruby and I\u2019m six years old and I\u2019m about to buy my first house,\u201d Ruby told the network of the home, which cost $671,000.<\/p>\n

Ms McLellan told 7 News he expected the property\u2019s value to double in a decade.<\/p>\n

\u201cFinancially they have each contributed $2000 and they have saved that up,\u201d he said.<\/p>\n

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\"Ruby<\/div>\n

Ruby McLellan is now a proud home owner. Picture: 7News<\/strong><\/em><\/div>\n

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\"The<\/div>\n

The Melbourne siblings are breaking into the property market. Picture: 7 News<\/strong><\/em><\/div>\n

\u201cThe price on that block has already gone up $70,000, so they\u2019ve done well so far.\u201d<\/p>\n

The kids managed to save up their deposit by completing chores around the home and by helping their dad pack copies of a best-selling book on property investment.<\/p>\n

\u201cIt\u2019s written for my kids to use when they\u2019re old enough, so I\u2019ve outlined all the steps it takes to build a property portfolio,\u201d Mr McLellan said.<\/p>\n

Earlier this month, news.com.au reported on\u00a0Mr McLellan\u2019s decision to retire at age 36 after finding a way to make $250,000 every year\u00a0without doing any work.<\/p>\n

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Mr McLellan started amassing properties when he was just 20 with the aim of generating enough passive income so that he would never have to work again.<\/p>\n

After he hit $250,000 in earnings after tax from renting out his many properties, he decided to enter early retirement.<\/p>\n

He has managers in place running his portfolio so essentially no longer has to do anything to lead a more than comfortable lifestyle.<\/p>\n

READ MORE VIA NEWS.COM.AU<\/a><\/p>\n

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