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Hard-Working Teenager Explains How He Bought Two Houses Before Turning 20

Hard-Working Teenager Explains How He Bought Two Houses Before Turning 20

Most of us can only dream about buying our own home. Instead, we're forking out hundreds of pounds a month to live in a cramped houseshare with seven strangers hoping they don't steal our food from the fridge.

But one teenager has bypassed all that hassle and saved up enough money to put down deposits on two houses.

Ollie Stock, 19, lives with his parents and five siblings in Lindfield, West Sussex, but after saving the money he earned from the occasional shift on his dad's construction site, he now owns two properties.

This has allowed him to combine studying at Chichester College with a career in property development, earning five figures.

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Ollie told the Mirror: "Since I was 16 I've been working there as often as I can mostly on weekends and during holidays, I don't have a lot of free time.

Ollie impressed when he appeared on Homes Under The Hammer. Credit: BBC
Ollie impressed when he appeared on Homes Under The Hammer. Credit: BBC

"I work as a director and planning permission analyst for my father's company. I'm paid the same as anyone else who would work there and take home about £27,000 a year."

He added: "When you look at big companies you see they make more money out of their property than their products. It always made sense to me."

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So how did it all start?

Explaining his rise to property magnate, Ollie told the Mirror: "I decided to invest in Dover after I drove through there on the way back from a holiday. I think it's on the up, it's had some development and I can see things going up in value there.

"I'd already been saving £12,000 a year for two-and-a-half years and then was able to put down a mortgage of £40,000 on a £130,000 property in Dover using £8,000 I'd inherited from my grandma."

His first property saw him appear on the BBC programme Homes Under The Hammer.

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"I bought a horrible property on Hardwick Road in Dover and renovated it on the show. That took nine days which broke their record for how quickly it could be done," he said.

Ollie transformed his first property and now rents it out. Credit: PA
Ollie transformed his first property and now rents it out. Credit: PA
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And he wasn't done there, Ollie quickly moved onto his second property in Dover, this time on Lowther Road.

He now rents both out to help supplement the income from his job.

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He told the paper: "My aim is to be financially free by the time I'm 22 and I want to use the time I could be in university to do that.

"I want to be in a position to do whatever I want in my life and I don't think you need to go to university to do that."

But while the prospect of earning so much money could encourage most teenagers to go out partying, Ollie says he is very careful with how he spends his cash.

He added: "I went to my mates university house and they were all partying. It's very different to what I'm doing, going to awards ceremonies in London and going all around the country on projects.

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"I don't spend as much time as I'd like visiting my friends in uni because I'm very busy.

"I spend what free time I have differently to them - I go to Crystal Palace games and spend time with my family, that's important to me."

Featured Image Credit: BBC

Topics: uk news, Property, Finance

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Dominic Smithers

Dominic graduated from the University of Leeds with a degree in French and History. Like you, Dom has often questioned how much use a second language has been. Well, after stints working at the Manchester Evening News, the Accrington Observer and the Macclesfield Express, along with never setting foot in France, he realised the answer is surprisingly little. But I guess, c'est la vie. Contact us at [email protected]