Australian real estate: I owned three properties by 22. Don’t make the same mistakes I did

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Dionne Lee wasn’t like most 17 year olds. After finishing Year 12 with a grade that was “not high enough” to get into university, the teenager knew she needed to figure out what she was going to do with her new “adult life”. As her friends set off to pursue a degree or enjoy a gap year abroad, Dionne was quietly building a property portfolio.

“This unit was also purchased using equity from the first property,” she says. “It taught me again about the challenges that can happen with tenants. “The lady who leased the property decided to return to Sydney with no notice and only a text message to say she had gone, and the keys were in the letterbox. “Thank goodness for landlord insurance as that covered the costs of cleaning up and fixing the damage she had left behind in what was a fairly new apartment.

 

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