Mortgage Free at 23
Jack Stevens knows just how short life is. He was only a teenager when his father sadly passed away from cancer at the young and unfair age of just 58. It was a tough time in his life and all the more painful by the fact his father had been working hard to build a large property portfolio – one that would have provided him with a comfortable retirement. Also like his father, the 23-year-old primary school teacher is a hard worker. Impressively, Jack already owns his own property in the Melbourne suburb of Geelong West outright. The two-bedroom cottage was purchased for $365,000 a couple of years ago, using the inheritance and a big chunk of savings. In just 24 months, Jack paid off the rest of the loan and is now sitting on a large equity nest.
In this October 2014 issue of Australian Property Investor (API) Magazine, Ben was asked to provide some independent property investment advice to Jack on how he can make full use of his current equity and prepare his next step forward with a property portfolio plan. Click on the article to read further.