& # 39; I place a down payment on our house at Lego & # 39 ;: how a smart property owner, 25, came on the market with his childhood toys – and NO help from his parents
- A smart young investor has turned his Lego hobby into a home depot
- Josh Mangleson, 25, from Brisbane has been collecting Lego since childhood
- He realized that his sets were worth money and started buying more to make a profit
The real estate market is a daunting prospect for most millennials, but a smart investor has turned his love for Lego into another pile of stones.
Josh Mangleson (25) from Brisbane began collecting Lego as a child, but only when he started looking for new sets to buy online did he realize that his childhood toys might be worth some money.
Josh then began investing in more Lego sets and selling them online for profit – eventually he managed to earn $ 20,000 from the small blocks alone.
& # 39; Most people still don't believe it when I say I make a down payment to Lego, & # 39; he told news.com.au.
Josh Mangleson, 25, from Brisbane began collecting Lego as a child and realized that his old childhood toys might be worth some money. He started earning $ 20,000 just by selling them
& # 39; In high school before I had my first job, I tried to find ways to earn money to buy new Lego sets. I would like to buy them online, and I started seeing the values on some of my older sets and could hardly believe my eyes. So I started seeing my own Lego collection as a bit of an investment. & # 39;
In minus 2016, during his first year of studying Property Economics at the university, Josh learned about different types of investments and decided to go all-in on his Lego hobby.
He said he spent about 12 months and put all his savings in Lego sets.
& # 39; I think my parents thought I was crazy when I started spending thousands of dollars on Lego at the same time and came home with car boots full of sets. But when I started showing them, I wanted to make a profit that they soon supported. & # 39;
He said he would focus on sets that he knew would be in high demand from collectors and approaching the end of their shelf life and would become rarer in stores.
He also tried to buy sets when he could find them for reduced prices.
After holding the sets for an average of 18 months, he sold them on sites such as eBay and Gumtree, using free or cheap offers.
Mr. Mangleson said he would see an average return of more than 40 percent and claims that he sold a few minifigures for a whopping $ 500.
He said he spent about 12 months and put all his savings in Lego sets (stock image)
He said he sold around 75 percent of the sets he had collected in 2018 for an average profit of around 40 percent.
The smart entrepreneur sold a total of around 250 sets, about half of his youth collection and half newer sets that he bought.
In total, he earned about $ 20,000 from his Lego venture which, along with the $ 15,000 first home buyers grant, allowed him and his new wife Jess to make a down payment on a home.
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