BUSINESS

Australian Kid Buys His Own Investment Property With Help From His Parents

Akira Ellis picked out the place himself.

07/24/2017 12:54 EDT | Updated 07/24/2017 12:55 EDT

One Australian kid is more enterprising than most of his peers — he just bought a house.

With unspecified financial help from his folks (we're guessing it's quite a bit), 13-year-old Akira Ellis picked out a four-bedroom home in a Melbourne suburb that he plans to rent out.

He was able to buy it via a joint venture with his parents and two of his siblings, according to the Central Coast Gosford Express Advocate.

The house sold for just under $548,000 Canadian ($552,000 Australian) back in May.

The renovations he plans to make include redoing the bathroom and kitchen, taking out the carpet, replacing the lights and doing some landscaping, he told the Express Advocate.

The decision to buy came after he won the inaugural Young Renovator's Scholarship, a program meant to teach teens aged 12 to 17 about the real estate market, how to research and buy and "how to structure future investments to benefit them moving forward."

Celebrity property flipper Cherie Barber, who started the program, told the Seven Network's Sunrise program that Ellis' keen interest in investing actually gave her the idea for it.

"He came to one of my public speaking gigs and sat in the front row and scribbled 20 pages of notes," she said.

Ellis also impressed the real estate agent who sold him and his family the place, according to the Daily Mail.

"He's a very bright kid, very switched on. He came in with a tape measure and measured all the rooms and fitting himself," Adam Price told the site.

Wow, they sure make these property investors young these days.

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