Only 24 years old, and just out of Uni, a young Greek Australian from Melbourne, has just purchased his first home, after building his capital from scratch, to almost a million dollars.

When so many young people are locked out of the property market, Evan Vassos is proving that with a bit of confidence, a good eye for opportunity and a lot of research, the stock market is one of the few avenues young investors can take to grow their wealth.

Evan Vassos, has always loved numbers. He was only 18 when he developed a betting strategy that was quite successful, though he soon abandoned that path, and turned his attention to the Australian Stock Exchange, while studying for a Bachelor of Commerce at Monash University.

“People should never underestimate the power of investing in the market and for young people, there are very few opportunities in this low-interest-rate environment to invest in asset classes that can grow. It is also worth pointing out that many young people are locked out of the property market as they just do not have the capital base to invest”, Mr Vassos tells Neos Kosmos.

The young university graduate from Northcote, with a keen interest in business, says he has invested in many companies and continues to learn something new every day, stressing how important it is to do your research.

“Research, research, and more research” is the key to successful investing, he says adding that another important thing he learnt along the way was never to put all your money into one stock.

“There are some incredibly smart investors out there and I like to bounce some of my ideas off them to get a second opinion,” he adds explaining how he managed to gradually grow his investment to nearly a million dollars since leaving high school.

The young Greek Australian says that he tries to gauge the experience and knowledge of senior management before investing and he points to the online webinars that many companies conduct, urging all investors to tune into those and read company reports and updates regularly.

Mr Vassos purchased the two-bedroom apartment, overlooking the CBD, in 2020, using the substantial incentives offered by the Government and the developer at the time.

“I was able to claim the first home buyers grant, the federal government home builder grant, a discount from the developer, stamp duty concessions and early access to super.”

For him, the apartment is a stepping stone, as he hopes to buy a house in the future.

At the end of the day, he says, it is all about striking a balance, enjoying your life by living in the present whilst investing in the future.

“I was fortunate enough to have parents that emphasised the importance of education from a young age.”

Evan Vassos (2nd from left) joined the committee of the RMIT University Society of Hellenes whilst studying for his postgraduate. Photo: Supplied

Mr Vassos paternal grandparents hail from Florina, whilst his maternal grandparents are from Florina and Athens, but of Cretan heritage. From a young age he was encouraged to explore his roots. He attended Greek school for an extended period of time, completing his VCE Greek in Year 12, and making some long-lasting friendships which continue to this day.

“To all the Greek Australian students (particularly university students) out there, don’t be afraid to put yourself out there and get involved in cultural associations/events at your local university.”

Joining the Monash Hellenic Students Society in 2019, and the RMIT University Society of Hellenes in 2020, were good experiences and he hopes that face-to-face events return for all university students so they can get involved in university life.

Mr Vassos has recently acquired a Master in Business Administration, and he looks forward to putting all he has learned to practice as he continues to invest his funds. Going forward he also hopes to move into a funds management/venture capital role, as he is very interested in evaluating and assisting companies to grow.

You may follow Evan Vassos on twitter @EvanVassos.

He often makes comments surrounding his investments and his rationale on the platform and though he does not provide advice, anyone interested can follow his logic and thought processes.