Bailey Smith bought his first investment property at the age of 23, in Melbourne.
At just 23 years old, Bailey Robinson has already bought his first future investment property.
It’s an impressive achievement for someone so young, especially since he began saving up for a deposit in earnest after gaining his first job in retail, earning just $10.95 an hour, at the age of 15.
The young Sydney-based investor purchased his investment home, a townhouse and land package in the suburb of Fraser Rise in Melbourne’s outer northwest, earlier in 2026.
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“Off the top of my head the land and house adds up to about $620,000 total,” Mr Robinson said.
His parents helped him to save by allowing him to live with them rent-free, although the catch was he had to consistently put away money or start paying rent.
Once Mr Robinson hit $80,000 in savings, his mother and father matched with $40,000 to put towards his investment property.
Mr Robinson said only a small portion of the money that he had saved himself came from his current job as a bank analyst.
“Pretty much all of it was from my previous jobs in retail, hospitality and working in a warehouse,” he added.
Bailey Smith purchased his first investment property after saving up while working in retail, hospitality and a warehouse, investing in stocks and being conscious of his spending.
He also started investing in high-growth stocks from about the age of 15 while being aware of his spending, such as preparing meals at home instead of eating out, getting public transport and choosing cheaper holidays.
“I’ve always been very conscious of saving but it really started when I got my first retail job just after my 14th birthday – although it was difficult being on $10.95 an hour initially – but the compounding effect of saving and investing was definitely my recipe for success,” Mr Robinson said.
He’s hoping to buy an additional four or five properties in the next 12 years while rent-vesting, which involves renting while investing in a home that suits your budget and then leasing it out.
“I’m hoping to build a big enough portfolio over time through rent-vesting to purchase a home of my own,” the savvy young investor said.
Bailey Smith said his grandfather got him into stocks, while his parents got him into property investing with guidance from investment advisory firm OpenCorp.
Mr Robinson said his grandfather had gotten his family into stocks, while his mum and dad have been investing in properties through Melbourne-based property investment advisory firm OpenCorp for years.
Mr Robinson has also sought advice from OpenCorp while starting his own property journey.
And his younger brother, aged 19, is also saving for an investment property with a similar strategy.
Mr Robinson’s advice for other young people wanting to become property investors was to start early and not to discount the power of small compounding efforts and changes.
Private providers supply about 90 per cent of Victoria’s rental homes.
However, he’s not a fan of the recent changes to negative gearing and capital gains tax (CGT) that Prime Minister Anthony Albanese’s government announced in the 2026 federal budget.
“Frankly I think it’s a revenue raising tax grab, marketed as a beneficial generational wealth solution towards misinformed young people but will ultimately have a net negative effect on the Australian economy,” Mr Robinson said.
“Limiting the capital growth of a nation’s property assets by suppressing demand and as a consequence making it even less attractive for Australian companies to innovate, invest in R & D or even form start-ups through a policy designed to make it “easier” for first homebuyers isn’t something makes sense to me.
“Ultimately, both the CGT and negative gearing policies where wealth generating tools that were in place for previous generations that Australia’s young people no longer have access to.”
Prime Minister Anthony Albanese’s government introduced negative gearing and capital gains tax changes, under the 2026 national budget. Picture: NewsWire/Martin Ollman.
OpenCorp founder and chief executive Cam McLellan explained that the Australian government’s new approach meant negative gearing would be limited to new builds from July 1 2027, while existing arrangements remained unchanged for properties held before the budget night in May.
“For investors buying new builds, they will still be able to access negative gearing and will have options around CGT treatment when they sell,” Mr McLellan said.
“That does not mean every new build is a good investment- far from it. You still need to buy the right property in the right location.”
OpenCorp founder and chief executive Cam McLellan says that young people can still get into the property market.
Mr McLellan said that getting into the real estate market was harder for young Aussies nowadays, but not impossible.
“They just need a smarter strategy than previous generations needed. In many cases, that means help from parents, rent-vesting, buying new, and being disciplined enough to hold for the long term,” he noted.
Mr McLellan cautioned against waiting too long to invest, because starting later in life usually meant a bigger deposit, higher prices and fewer options.
In Australia, negative gearing will now be limited to new builds from July 1, 2027, apart from properties held before the 2026 federal budget was released in May.
The company founder said that he and his colleagues were starting to see far more young people interested in property investing compared to 10 or 20 years ago, but most of the time it began with their parents.
“Many parents are sitting on a lot of equity in their own homes,” Mr McLellan said.
“They are starting to realise they may be able to use some of that equity to help their kids enter the market now, rather than waiting until they pass away and the opportunity has become much harder.”
Bailey Smith has been opting for cheaper holidays while saving up for his first investment property.
While the “bank of mum and dad” used to have a negative meaning, almost like parents were spoiling their kids, that has now changed, Mr McLellan added.
“The key point is that it does not always have to be a gift – there are different ways we help parents go about this,” he said.
“Some may contribute cash, some may use equity, some may provide a guarantee and some may structure it so the money can potentially be drawn back later for their own retirement.”
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