A Masterton telecommunications worker who bought his first house at 19, has paid off more than two-thirds of his second house at the age of 24.
William Keedwell, who is no stranger to work and sees himself as a DIY-guy, recognised property investment as a way to get ahead because he could work on improving the houses he owned himself, Fairfax reported.
Keedwell figured that finding a house with some issues would make for easier negotiation of a good deal.
Despite being on minimum wage, Keedwell found a $190,000 home in Masterton lacking resource consent for a sleepout, and negotiated $20,000 off the price.
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He sold the house late last year for $257,000.
Keedwell now has a $60,000 mortgage on a house he believes is worth $200,000.
"It's all about what your priorities are. If you prioritise to get ahead in life, then you have to work out what you have to do and do it," he said.
Flatmates help with the mortgage, and despite having a few issues in the past with tenants, Keedwell says he hopes to continue to expand his portfolio.