Search by ticker code:
Generic filters

Using 1 Crazy Trick This 14yo Became A Homeowner Overnight!

With tightening lending policies, soaring costs of living and unprecedented prices dominating the Australian property market, today’s first-home buyers face an uphill battle.

Yet, one savvy Sydney teenager is bucking the trend. Having already put a Mosman mansion under his belt, 14-year-old Bennie Factor says that with a lot of planning, and a little bit of elbow grease, anyone can become an overnight homeowner.

What’s the secret to his success?

A little-known legal trick called “parricide”.

In his speaking tour, “From Parricide To Property – How To Unlock Your Instant Inheritance”, Bennie told his story:

“I’ve always wanted a home of my own and, after years thinking about scrimping and saving, I realised there was an easier way to get ahead. I could just knock off my parents.”

“Once I knew what I wanted to do, it was just a matter of doing my research, saving a deposit, then finding a hitman that was within my means,” he said.

Now, four years of imprisonment and one svelte waterfront property later, Bennie is determined to help other struggling young people break into the property market.

His top three tips for securing your “instant inheritance” are:

  1. Seek out good legal advice
    With the right people in your corner, knocking off your parents to inherit their estate doesn’t have to be stressful. Find a good lawyer – it’s critical that you ensure you’re in the Will. Otherwise, you’ll be out of a home and out of pocket!
  2. Start early
    If you’re under 10 years of age, you may not have to worry about assuming criminal responsibility in Australia. However, if you decide to wait until when you turn 14, you may end up doing a little jail time. This isn’t necessarily a bad strategy, just make sure the income and opportunity losses you’ll incur while behind bars will be offset by the property’s capital gains (and don’t forget about CGT!).
  3. Think outside the box
    With property values plummeting, the last thing you want to do is inherit a house with little to no equity and a variable interest rate to boot! If your parents won’t have repaid their mortgage by the time you become criminally responsible, consider conspiring with a younger sibling who can do the dirty work for you at the most financially opportune time.

While his methods are a welcome departure from the bootstrap philosophies eschewed by many financial advisors,  Bennie’s speaking tour is not without its detractors.

Victoria Freelander from the Sydney Renters Association told Dropbear that the whole concept of parricide was “deeply problematic”.

“It’s great that he was able to use closing his account with the ‘bank of mum and dad’ as a way to get ahead. But what about people whose parents are renters? Who are they meant to suffocate in their sleep?” Victoria said.

– with Vivienne Mitchell


Dropbear on Twitter: @dropbearRASK

Instagram: @dropbearrask

Please note: In case you hadn’t noticed, the Dropbear column is Rask Media’s satirical publication (that means it’s funny stuff, not true and you shouldn’t take it seriously). Sometimes, humour is the only way to reach gumnuts. Email [email protected] to submit a breaking news story. 

FREE & NEW: Our Complete Passive Income Strategy

With interest rates UP, now is one of the best times to start earning passive income from a portfolio. Imagine earning 4%, 5% -- or more -- in dividend passive income from the best shares, LICs, or ETFs... it's like free money credited to your bank account.

So how do the best investors do it?

Whether you have $2,000 or $2,000,000, our Chief Investment Analyst Owen Rask has just released his brand new ASX Passive Income Report. Featuring the best dividend ETFs, LICs, funds and shares, this report cannot be missed by anyone wanting passive income in 2022 and 2023.

You can INSTANTLY access Owen's report -- or get it emailed to you -- for FREE by CLICKING HERE NOW or the button below.

Unsubscribe anytime. Read our TermsFinancial Services GuidePrivacy Policy. We’ll never sell your email address. Our company is Australian owned.

Information warning: The information on this website is published by The Rask Group Pty Ltd (ABN: 36 622 810 995) is limited to factual information or (at most) general financial advice only. That means, the information and advice does not take into account your objectives, financial situation or needs. It is not specific to you, your needs, goals or objectives. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. Please read our Terms and Conditions and Financial Services Guide before using this website. The Rask Group Pty Ltd is a Corporate Authorised Representative (#1280930) of AFSL #383169.