A Gold Coast teenager is reaching out to strangers to raise money to buy a home

Discussion in 'Property Investment - Other' started by mja, 14th Jun, 2015.

  1. mja

    mja Capitalist.

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  2. jerrybee

    jerrybee Member

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    I get ambition. So her ambition here is to buy her first house before leaving year 12. Good on her. But if it's through charity then what's the point? It's like climbing Mt Everest in a helicopter. What will she have achieved? At least she isn't playing the "it's because property is too expensive" card like a lot of people in Brisbane.
     
  3. propernewb

    propernewb Member

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    This just rubs me the wrong way.

    What are her parents doing? They definitely do not look like they are poor. The whole piece just looks like a selfish money grab when her parents should be assisting her with her first purchase (without a job either, jaysus).
     
  4. Perp

    Perp Member

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    Where does this attitude come from? It's up to all of us to make our own way in the world.

    I do think it's an absurd proposition, though. For a start, having lots of short-term stayers is almost certainly in violation of planning laws.
     
  5. sanj

    sanj Member

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    I think it's great initiative being shown by her. She's 17 ans has found a way to potentially raise a deposit. Even if it fails there will be valuable lessons here.

    By the way, check out the page, most of the items aren't for nothing, they are for things like a days or weeks accommodation, a days work, tours of gold Coast etc.

    People say kids nowadays do bugger all, here's someone giving something a go that I haven't seen done before and people want to rain on her parade immediately.

    She definitely hasn't completely thought things through though
     
  6. Player

    Player Live Every Day

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    This is not charity.

    She's crowd funding through indiegogo. Instead of equity crowd funding where people (investors) take a share in the business (or in this case the property), she is product crowd funding where she is selling time in the home (as a holiday) depending on funds contributed by the investor. Hopefully she honours her word of foresaking some time in the property for charity and of course honours her obligations to the investors helping her quest to raise capital for the deposit.

    To me it appears she will start it as an investment property and along with her time share obligations to the investors, perhaps then have it as a permanent rental. Her loan costs and other outgoings will be deductible against income she will earn. Of course this all presumes she will qualify for a loan. Who's to say her parents won't go guarantor for the loan anyway.

    Quite enterprising if you ask me. She isn't stealing from anyone.
     
  7. sanj

    sanj Member

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    Agreed player. Some friends of mine raised over $100k for a bar and restaurant fitoit through crowd funding last year, it can be a big help
     
  8. Perp

    Perp Member

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    I probably sounded a bit too negative, as I was (primarily) responding to the suggestion that her parents should set her up! :eek:

    I do admire her initiative and enterprising spirit, I just think it's misplaced in this particular instance. But yes, she'll likely learn from it and her next idea will be a better one. :)

    The only thing that struck me was that something in her demeanour didn't seem quite right, and made me wonder if somebody else - Dad? Mum? Both? - is actually driving this thing, but using her as the "front". Why would they do that? Because "17yo crowdsources house deposit" is a story, whereas "middle-aged man wants his investment property deposit crowdsourced" is not.

    She just didn't seem the personality type, or as enthusiastic, as I'd expect for the person who'd be driving this project.
     
  9. Sonamic

    Sonamic Member

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    First in best dressed in this case. Good idea. Make a job out of your house. One supports the other. Good luck to her. ;)
     
  10. ej89

    ej89 Member

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    How's it possible for anyone to get a loan without a job? Who's paying LMI for her? Lol