‘You have to sacrifice’: Hospitality worker Jack Elliott shares how he bought three properties by the age of 25

At 25, this hard working hospitality worker owns three homes. Here’s his advice to others seeking to buy property.

While many young people see home ownership moving further out of reach, a northern suburbs hospitality worker is bucking the trend.

Jack Elliott purchased his third property last month, just days before he turned 25, and is looking to invest in one more while considering a future in real estate.

The 25-year-old purchased his first house at the age of 21 in Blakeview, in late 2020, for around $240,000 – using a long saved up for 20 per cent cash deposit.

When that house grew in value, it allowed Mr Elliott to take equity from the property and purchase a townhouse in Salisbury for just over $300,000 in mid-2022.

As the Salisbury property went up in value, he reused the equity to purchase his third house in Murray Bridge for more than $400,000.

He is currently renting out all three homes.

Jack Elliott, who bought three properties by his 25th birthday, at his mum’s home in Adelaide’s north. Picture: Kelly Barnes

Mr Elliott said the secret to his success was living at home and hard work.

While his parents had not contributed any cash to his investments, he emphasised he was “so, so lucky” to be able to live with his mum in Adelaide’s north.

“If I didn’t live at home, I wouldn’t have been able to do it,” he said, thanking his mother.

But he said without putting in the hours at work, he also would not be where he was.

After school, Mr Elliott started studying teaching at university but quickly realised it wasn’t for him.

At the time, he was working at McDonald's — first as crew and then as shift manager – but decided that if he wasn’t going to study, he would get a second job.

He found work as a duty manager at a hotel in Oakden, where he has been working since the age of 20.

Between the two jobs, he would work from 50 to 60 hours a week, often doing unsociable hours but also receiving penalty rates at McDonald's.

That allowed him to save up the deposit for his first home.

“At the end of the day, if you’re not going to put the hours in, you can’t expect to get a return. You have to sacrifice on your personal and social life,” he said.

Jack Elliott, who bought three properties by his 25th birthday, at his mum’s home in Adelaide’s north. Picture: Kelly Barnes

Mr Elliott quit McDonald's in 2022 and now works full time at the hotel but remains living with his mum, who he pays a small amount of board every week.

His advice to others looking to get into the property market is to take that first step and start.

“I would honestly say, start small,” he said.

“Even if it’s not something with a huge land size or it’s a bit older … It doesn’t have to be something that you will see yourself in forever. You’ve got to have no emotional attachment, it’s numbers.

“Just getting your foot in the door is absolutely the hardest thing. And then from there, it gets easier.”

He also advised avoiding getting a car loan.

“The bank looks at that and it just stuffs up your borrowing,” he said

As for himself, Mr Elliott said he would like to enter the real estate industry in the future.

He said he also plans to move out of home but likely after buying one more property.