Real estate investor Eddie Dilleen, 30, with 43 homes, reveals his secrets to success

A 30-year-old property investor who owns a staggering 43 homes has revealed why others shouldn’t be slow to enter the market – and his secrets to building a successful portfolio.

At 18, Eddie Dilleen, from Mt Druitt in western Sydney, bought his first two-bedroom apartment on the Central Coast for $138,000 and rented it out for $220 a week.

Today his impressive portfolio is worth over $20 million with homes in Sydney, Brisbane and Adelaide.

Mr Dilleen told Daily Mail Australia that the three key characteristics he looks for in a property are high yield (yield), capital growth and ensuring the price is below market value.

“Anyone can invest in real estate, but you have to consider your goals and think long term,” he said.

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Eddie Dilleen, of Mt Druitt in western Sydney, (pictured left) owns 43 properties worth an estimated over $20million

Mr Dilleen told Daily Mail Australia that the three key characteristics he looks for in a property are high yield (yield), capital growth and ensuring the price is below market value.

Mr Dilleen told Daily Mail Australia that the three key characteristics he looks for in a property are high yield (yield), capital growth and ensuring the price is below market value.

Mr Dilleen thinks you don’t have to earn six figures to get into the real estate market.

When he bought his first four properties, Mr Dilleen was earning $50,000 a year and bought four more with a salary of $65,000 in 2016.

“It’s about understanding how banks lend you money – having a high return means you can keep borrowing,” he said.

“Start small and get in as soon as you can.”

Mr Dilleen also suggested buying existing properties rather than new builds which are often on small blocks of land.

It also encourages “rentvesting” – a tactic that sees buyers renting a property where they want to live and buying an investment property in a suburb they can afford.

Mr Dilleen thinks you don't need to earn six figures to enter the property market

Mr Dilleen thinks you don’t need to earn six figures to enter the property market

Mr Dilleen grew up on a housing commission and became interested in real estate when he started working at McDonald’s aged 14.

Based on conversations with colleagues and others, he quickly realized that buying real estate was the ideal strategy for building wealth.

“From humble beginnings, I grew up in a tough neighborhood and no one in my family owned a home,” he said.

“Mom struggled to put food on the table, we had to buy second-hand clothes from the Salvos, it was very difficult financially.

“I remember when I was 12 thinking ‘this sucks’ and wishing things were different… I wanted to get off the cycle.”

Mr Dilleen smiles outside one of his properties in Parramatta, Sydney's western suburbs

Mr Dilleen smiles outside one of his properties in Parramatta, Sydney’s western suburbs

The 30-something bought a two-bedroom villa in Ipswich (pictured) for $133,000 in May 2020

The 30-something bought a two-bedroom villa in Ipswich (pictured) for $133,000 in May 2020

He also invested in an $875,000 property in Sydney for his mother (pictured)

He also invested in an $875,000 property in Sydney for his mother (pictured)

Mr. Dilleen soon wanted to buy more investment properties and eventually be able to live on rental income.

Rather than follow the “old school mentality” of paying off the original loan first, he decided to take advantage of capital gains and bought his second property at age 21.

“I realized there was another way instead of paying off a property – it’s about looking at the long-term gain,” he said.

Mr Dilleen explained that if he focused on paying off the loan from the first property quickly, he would be left with the income from just one investment, which is not enough to live on.

“It’s about scalability – instead of paying it back, why not use the funds to buy more investment properties?” he said.

“For example, instead of putting $30,000 a year into the investment, that could be used to buy another property.”

Some of Mr Dilleen's purchases during Covid-19 include a $437,000 duplex in Brisbane (pictured)

Some of Mr Dilleen’s purchases during Covid-19 include a $437,000 duplex in Brisbane (pictured)

What to consider when buying an investment property:

Consider your long-term goals

Start small and get in as soon as you can

Buy a property with a high return

Buy below market value at a reduced rate

Don’t repay the loan – use the repayments to buy more properties

Be realistic about your finances and talk to an expert for help

The investor has just written his first book 30 goods before 30, which shares his tips and tricks for investing in real estate.

He recommends starting small, buying something to get a foothold in the market and trying not to get emotional about where you buy.

He also suggests putting down a small down payment, suggesting that first-time home buyers can buy property with as little as a 5% down payment.

“Most people think they need a 20% down payment, but you can buy your first property for as little as 5%,” he said.

“Brisbane is one of the best markets to buy right now, you can buy a property for $300,000, so 5% of that is $15,000.”

He said to focus on the rental yield of properties and to buy properties below market value by looking for those who want to sell quickly.

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