The young SEQ property hot shots who made it big from real estate
From celebrity status and YouTube fame, these millennial property moguls have one thing in common: they’ve made a motza in the property industry. Here’s who they are, and how they did it.
Local
Don't miss out on the headlines from Local. Followed categories will be added to My News.
There’s a new generation of property minds coming to the fore in southeast Queensland. They’re the young, movers and shakers rapidly becoming synonymous with real estate.
Whether they are Generation Y cashed-up development moguls, millennial millionaires, or clever minds buying up big on our home turf, each of their backstories are equally as impressive as their portfolios.
From housing commissions to cattle farms and YouTube fame, these millennial property moguls have one thing in common: they’ve made a motza in the property industry.
Real Estate Institute of Queensland Chief Executive Antonia Mercorella says millennial millionaires certainly did exist in southeast Queensland despite recent soaring property prices.
“Property prices have obviously gone up,” Ms Mercorella said.
“The price of property here is relatively more affordable as opposed to Sydney and Melbourne. You can jump on the property market faster in Brisbane.
“Often buying the first property is challenging but building a property portfolio via equity and borrowing against that equity to buy the next property will often bring people up to owning something with a million-dollar price tag.”
Ms Mercorella said Queensland was a great place to invest with a higher rental percentage here and the buying demand was strong.
“It is a stronger demand than the average rental population. It does give confidence in the ability to rent out your property with houses in demand.
“Certainly, the value of housing has gone up.
“It is becoming more common to call a person a millionaire from property as the median price has gone up.”
As for the impact of the property market on young people hoping to get their foot in the door, literally, Ms Mercorella said the age of a first-time homebuyer was rising.
“The data tells us housing affordability is impacting young people.
“The median age of home buyers has increased from 24 to 34 since the year 2000.
“Compare 2021 to 1971 and what you see is that home ownership rates have decreased significantly.
“The data says affordability issues are impacting younger people seeing the age they become property owners are escalating.
“People have a strategy to become a property owner with a side hustle to make extra money and some are lucky enough to live with their parents and not pay rent which is absolutely making an impact in home ownership.”
So — when it comes to a young gun who has defied the odds to become a budding property mogul, what do they look like?
“If we’re talking about young people getting on the property ladder its often people who have worked extremely hard and who are diligent at saving or made significant sacrifices and have laser focus on buying property at a young age comes with a lot of hard work and sacrifice,” Ms Mercorella said.
“Young people see housing affordability has dinted and their confidence corroded so some have made a decision to not buy property but instead enjoy life instead.
“Then there are those who will forgo pleasures in the short-term and living frugally because they are determined to become property owners.
“There’s definitely a shift in mind set of people who don’t want the responsibility and burden that comes with property ownership and decided it is not for them and focus on lifestyle instead.”
She also said the industry is seeing ore women invest in property.
“Women are working and their earning capacity has improved so that women are more aware of the importance of financial independence.
“We’re seeing women buying properties without a partner. There’s an interest in building their wealth via property.”
She said entry level buyers were these days sourcing their deposit in a variety of ways too.
“Some borrow money from the bank of mum and dad.
“Others are gifted with an early inheritance.
“It’s getting tough for people to save a 20 per cent deposit.
“Other ways people get onto the property market is by getting lenders mortgage insurance or their parents go guarantors.
“We are also seeing more people going through co-ownership models buying with others or a family member is becoming trendy. Rent vesting is also becoming popular where people choose to rent in the area of preference and buy in another state choosing to live where they want to be.”
She said the next decade would play a pivotal part in Queensland’s development and property landscape.
“We have evidence of fundamentals in place like the Olympic Games and infrastructure projects in place plus there is an increase in employment, low levels of unemployment, post Covid have made working from home arrangements possible making Queensland a more desirable place to live, there’s also great regional property options available at places like the Gold Coast which is still close to capital cities and the big smoke.
“We are seeing a modernisation of Brisbane and people are now regarding it as a serious city and no longer the poorer cousin.”
She suggested new buyers should be prepared to view property as a longer-term investment.
“Do your research and buy something within your price range. Weigh up the pros and cons.
“The property market is cyclical. Don’t commit something greater than you can afford ensure you can service the repayments. Have a buffer for a rainy day.
“There’s never been a better time to access data and resources to buy better. Be open minded when you buy your first property. It might be quite modest where you start but it is not necessarily where you finish.”
Read more about Brisbane’s young property hot shots making serious strides either on their own portfolios or as a leader in the industry:
EDDIE DILLEEN, 31
He’s a self-made property tycoon who grew up in a housing commission in Sydney and started off in a job at McDonald’s.
Now he owns more than 78 plus properties and collects about $125,000 a month from rental returns. He brought more than 40 properties by 30 years old. His property portfolio includes Brisbane, Gold Coast, Logan, Ipswich, Moreton Bay, and Townsville.
He owns Dilleen Property which mentors others to get into the property market.
LACHLAN POWER, 27
Lachlan is living proof the rich are only getting richer.
YouTuber and Brisbane property tycoon Lachlan Power is a gaming whiz who has earnt upwards of $2.4 million a year.
The millennial bought a $4.375 million apartment in Kangaroo Point under a company his mother is a director for and has two other properties, including a specially built house in Cornubia which he picked up for $425,000 before getting development approval to put on a $277,000 residence on it. He’s renowned for turning a hobby into a career.
He’s also the son of Logan Mayor Darren Power.
SIMON, 38 AND TAH-NEE BEARD, 34
It was rags to riches for the powerhouse couple who are now valued at circa $600 million after they sold their stake in cult streetwear brand Culture Kings.
Simon was super keen to sink funds into real estate.
The couple’s most prominent buy was the $15.25m Soul penthouse on the Gold Coast, though Tah-nee also broke a suburb record selling her Ashmore waterfront luxury estate recent for $4.95m in August then splashed out on an $11.75m mega mansion at Isle of Capri Surfers Paradise.
The couple added next door to make it 3750sq m on the dress circle La Scala Court.
ALEX VELJANCEVSKI, 33
The mortgage broker built his eight-property portfolio at just 31.
He was a mover and shaker in the Sydney market but then went on a spending spree in southeast Queensland over two years after realising its potential.
He added six new properties to his portfolio between 2015 and 2016.
He then nabbed a property halfway between Brisbane and the Gold Coast in the Logan area for $305,000 at auction.
However, it was the zoning that really sealed the deal located just 500 metres from a train station and centrally located zoned on land for apartments to be built which was happening in neighbouring streets.
The property has added over $100,000 in value jumping up to $415,000 yet Mr Veljancevski has not yet made any moves to develop it.
JOE ADSETT, 40
Celebrity architect Joseph is regarded as one of Brisbane’s best-known designers, particularly known for his subtropical modernist style.
His own home, which he designed, is called Boomerang and is featured on the television show Grand Designs Australia.
Adsett is behind many of the wow-factor homes found around Teneriffe, New Farm, Ascot, Paddington, and other affluent Brisbane suburbs.
Adsett is often the go-to architect for Brisbane’s elite. Besides designing luxury homes.
He’s also been involved in mixed-use towers, retail master planning, and shopping centre projects.
NATHAN BIRCH, 38
He amassed a $50 million portfolio of 200 properties in his 30s.
The Sydney property investor picked up 100 properties a month for him and his clients over the past two or three years in our state.
Nathan is predicting double-digit price increases here in the next 12 months.
He’s forecast to be a billionaire by 40 due to increased inflation costs.
The property whisperer and author have a cult following online.
SIMON CAULFIELD, 36
Place Kangaroo Point director and the lead agent is renowned for selling prestige properties, luxury penthouses and new builds.
Caulfield and his team have represented more than half a billion dollars in property sales in the past 10 years.
The Caulfield team sold out six luxury developments in recent years.
He sold a penthouse off-the-plan for $15.75m earlier this year.
JORDAN NAVYBOX, 31
Jordan is the state managing director of Australia’s largest buyer’s agency Cohen Handler which was introduced to Brisbane seven years ago.
He’s considered the go-to property agent for the stars striking deals for singer Conrad Sewell and cricketer Chris Lyons among others.
Jordan has built a reputation for finding off-the-market properties for sale.
He’s negotiated good deals during the pandemic fuelled property boom in 2020.
Jordan has established himself in the Queensland market earning the title of the highest grossing buyer’s agent in Queensland from 2018 to 2021.
He’s purchased more than 1500 properties since 2015 statewide.
EMILY PALMER, 28
Daughter of mining magnate Clive Palmer, she may only be in her twenties but she’s said to boast an enviable property portfolio.
According to The Australian in 2021 she reaped more than a million in profit before turning 24.
Not only was she announced on the Mineralogy board in 2021, but her property portfolio also includes six thus far including an estimated $2.6 million home in Toowong.
Not only has she received glamorous birthday gifts like a 30m-luxury yacht for her 15th birthday reported by the Courier Mail in 2009, but this lady is also air to her billionaire father’s fortune.
MICHAEL NORMAN, 30
Armed with a dashing portfolio of developments under his wing Michael is noted as one of Queensland’s youngest Brisbane-based property developers.
It can be safely said this chap is going places with a project profile estimated at about $11 million under his sleeve.
He’s the founder of Arcadian developments which is noted for works like boutique development Emerge valued at about $7.5 million.
Michael is one of our youngest developers and is talented businessman in his own right selling several companies before he spread his wings onto the property scene.
ARJUN PALIWAL, 31
What’s not to admire about a person who owns 17 properties? Arjun brought his first home at 22 and used it as springboard to build an empire for his family now worth about 11.7 million.
The properties are scattered across five states and as the equity builds momentum, as property prices rise, what was once a passive income has become the inspirational tale to give others the brevity.
The head of InvestorKit was so confident in his subject matter he had the confidence to buy five properties in one go last year. Still talking? He’s already left the room to purchase yet another.
Riye Arai-Coupe, 37, and Claire O’Rourke, 38
The co-founders of Bluebird Property have built 210 dwellings with a total project value of $136m since the inception of their company in 2018.
The dynamic property duo have also co-founded their second venture, SABI Property. In 2021, Claire and her business partner, Riye, were nominated as the Top 20 under 40 Business Entrepreneurs in Qld.
The pair saw a gap in the development consultancy space and an opportunity to offer a service that was different from the traditional project management firms.
Their staff in the Fortitude Valley business are predominantly women. Their operating income grew 150 per cent in 2020/21 compared to the previous 12 months. Claire also participates in the PCA’s 500 Women in Property and the UDIA’s Mentoring Program sharing her knowledge to empower others. They also worked under Destination Brisbane Consortium and Far East Consortium in the launches of their two residential towers – Queen’s Wharf Residences, which was 64 storeys and more recently Queen’s Wharf Tower, standing tall at 74 storeys. Watch these property gurus go from success to success.
Thessy Batsinilas of Queensland fashion house Sabo Skirt, 32
This business owner took almost two years to find the location of her forever home in Holland Park. Then she documented the building of the home, named Grece, on social media.
The raised 600 sqm block is in one of the suburb’s most prestigious streets, offering expansive city views also has a dedicated wellness centre complete with a sauna and plunge pool. Her Greek-Inspired home is beautiful.
The Brisbane business co-founder is renowned for refusing to release any financial figures. The young self-made power couple ended up being next door to Thessy’s business partner Yiota Kouzoukas.
Property Developer Leah Kent, 32
Leah is the Settlements Director of Cue Property. She launched Cue Property Settlements in 2015 after she discovered a missing link in the transaction of off-the-plan residential property. The company is now responsible for providing and facilitating successful property settlements.
Ms Kent is leader to an all-female team. Her pursuit to champion other women can be seen by her playing host to Cue’s annual Women in Property International Women’s Day events. Leah has about 14 years of residential experience under her belt. Keynote projects include 443 Queen by Cbus Property, Monarch, Toowong by Consolidated Properties and Sekisui House’s West Village. In 2023, Cue will settle 498 new homes across six SEQ projects, with a combined value of over $645 million.
Jimmy, 36, and Tam, 34, from Pomona
The Block winners in 2020 made an impressive profit of $966,000 on their stunning Melbourne reno for the show, plus pocketed and extra $100,000 for winning. Perhaps you’re wondering where are they now?
They’ve kickstarted their own stunning renovation of their Sunshine Coast family home in Pomona. The couple also finished filming another renovation show as well and have launched their own styling and design business with their first project taking place at Sunshine Mitre 10 Nambour.
Mum riddled with cancer years after she thought battle was over
A Brisbane mother thought she had finally beaten breast cancer before the deadly disease returned with a vengeance. Samantha’s husband has now gone into fight for her.
Tight race expected as six do battle in bellwether seat
Six candidates will contest the southside seat of Springwood, traditionally known as a bellwether, with polls showing a tight race and pressing local issues shaping the campaign dynamics. HAVE YOUR SAY