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Real estate guru who bought 20 houses by the time he was 28 shares the best features on the market

Eddie Dilleen (photo) grew up in the housing committee in the Mount Druitt region in Sydney and decided at the age of 16 that he didn't want to live like the rest of his family lives in poverty

Eddie Dilleen (photo) grew up in the housing committee in the Mount Druitt region in Sydney and decided at the age of 16 that he didn’t want to live like the rest of his family lives in poverty

A real estate magnate who has bought his 20th investment property at just 28 has shared the homes he thinks are good investments in various Australian capitals – and they are all now on the market.

At the age of 16, Eddie Dilleen was determined to overcome his humble beginnings growing up in housing commission in Mount Druitt, in western Sydney, and breaking out of the circle of poverty and well-being around him.

So he worked at McDonald’s and KFC for two years, saving $ 200 a week for a $ 20,000 deposit, buying a two-bedroom $ 138,500 unit on the central coast of NSW.

He now works full-time as a real estate investor, with his 20 houses valued at between $ 5.5 and $ 6 million and spread across NSW, Queensland and South Australia.

It is therefore perfectly placed to advise potential investors of houses where they can best make significant profits in the market.

He further said that the $ 400,000 Werrington option could be rented out in Sydney for more than $ 400 a week, meaning that it would be easier to repay the mortgage

He further said that the $ 400,000 Werrington option could be rented out in Sydney for more than $ 400 a week, meaning that it would be easier to repay the mortgage

He further said that the $ 400,000 Werrington option could be rented out in Sydney for more than $ 400 a week, meaning that it would be easier to repay the mortgage

In NSW he chose two properties in the west of Sydney: a mansion Werrington, who sells for $ 400,000- $ 430,000 and a house in it Jamisontown, near Penrith, which is on the market between $ 280,000 and $ 300,000.

He chose an apartment in Victoria Sunshine, in the west of Melbourne, which is on the market between $ 215,000 and $ 230,000, while choosing a mansion in Brisbane in Queensland Springwood, that is in the south of the city and on the market for $ 235,000, as well as a house in it Redbank Plains, in the west of the city, for sale for $ 289,000.

In South Australia, he chose a unit in the relatively prosperous suburb of Adelaide Glenelg east, who sells for $ 255,000 to $ 275,000.

“They are all within the metro, meaning that they are within 30 to 40 minutes from the capital and are really cheap,” he said.

In Jamisontown, the two-bedroom home is for a minimum of $ 280,000, close to Penrith's main city center and just over 40 minutes to reach Sydney.

In Jamisontown, the two-bedroom home is for a minimum of $ 280,000, close to Penrith's main city center and just over 40 minutes to reach Sydney.

In Jamisontown, the two-bedroom home is for a minimum of $ 280,000, close to Penrith’s main city center and just over 40 minutes to reach Sydney.

‘They will give a good rental return because they are in a metro market. And the price will only rise with inflation over the next 15 to 20 years.

“The $ 235,000 mansion in Springwood, Queensland, for example, could easily save a five percent down payment because it is a recoverable $ 11,750.”

The Springwood two-bedroom house is a 22-minute drive from the CBD of Brisbane and has a bathroom and parking space, making it the perfect place to rent to a young family.

Houses in Springwood rent for $ 430 a week with an annual rental return of 4.4 percent – and have a compounded growth rate – or a value increase over time – of 2.9 percent in the past five years.

The house is 350 meters from Springwood train station and for those who enjoy the outdoors, there are nine parks within a 600 meter radius.

Meanwhile, the four-bedroom property of Redbank Plains in Queensland has “seller says sell” on the ad, meaning the owner wants to sell quickly – regardless of current market value.

Mr. Dilleen pointed out that he would never buy a property unless it was below market value, so he opted for this renovated block with one bathroom and one car space.

He also said that the $ 400,000 Werrington option could be rented out in Sydney for more than $ 400 a week, meaning that it would be easier to repay the mortgage.

This complex is located on R4 with a high density on land – which means that the potential can be overthrown and redeveloped into units – and will therefore produce above-average capital growth.

The lot exceeds both the size and the facade requirements for multi-storey units.

In Sunshine, west of Melbourne, the 1-bedroom apartment is perfect for a couple who want to live close to the city without being tightened by high CBD prices

In Sunshine, west of Melbourne, the 1-bedroom apartment is perfect for a couple who want to live close to the city without being tightened by high CBD prices

In Sunshine, west of Melbourne, the 1-bedroom apartment is perfect for a couple who want to live close to the city without being tightened by high CBD prices

The Jamisontown two-bedroom home for sale for $ 280,000 is close to Penrith’s main town center and it is just over 40 minutes’ drive to Sydney.

It’s also cheap enough to make a $ 14,000 down payment with just five percent, making it viable for millennials who are concerned about their potential market options.

In Sunshine, west of Melbourne, the one-bedroom apartment is perfect for a couple who want to live close to the city without being tightened by high CBD prices.

It is just a 33-minute drive from the most important shopping and dining options in the southern state and is an affordable option.

Why did Mr. Dilleen choose these properties in Australia?

1. 3 / 30-32 Albert Street, Werrington, NSW 2747

The $ 400,000 townhouse in Werrington can be rented for $ 400 a week, making it easy to redeem the mortgage as an investor.

The zoning plans also give the country an above-average capital growth over time, because you can turn it into units or multiple homes.

2. 2/13 Preston Street, Jamisontown, NSW 2750

The two-bedroom house for $ 280,000 is close to Penrith’s main city center and only takes 40 minutes to get to Sydney by train.

It’s also cheap enough to make a $ 14,000 down payment with just five percent, making it viable for millennials who are concerned about their potential market options.

3. 12/437 Ballarat Road, Sunshine, Vic 3020

The one-bedroom apartment is perfect for a couple who want to live close to the city without being tightened by the high CBD prices.

It is just a 33-minute drive from the most important shopping and dining options in the southern state and is an affordable option.

4. 70/15 Magellan Road, Springwood, Qld 4127

Houses in Springwood rent for $ 430 / week with an annual rental return of 4.4 percent and have seen a compound growth rate of 2.9 percent over the past five years.

5. 5 Figtree Lane, Redbank Plains, Qld 4301

Meanwhile, the four-bedroom property of Redbank Plains in Queensland has “seller says sell” on the ad, meaning the owner wants to sell quickly – regardless of current market value.

6. 5/29 Cliff Street, Glenelg East, SA 5045

The Glenelg East unit receives extra points because it is close to the beach, but still offers a price guide of $ 255,000 for two bedrooms.

It is just 21 minutes from Adelaide city center and on the way to the great McLaren Vale wine region.

The Glenelg East unit receives extra points because it is close to the beach, but still offers a price guide of $ 255,000 for two bedrooms.

It is just 21 minutes from Adelaide city center and on the way to the great McLaren Vale wine region.

Speaking of his living conditions as a teenager in western Sydney, Mr. Dilleen said that many people had no job and he did not know what the university was until he left school.

“I knew I didn’t want this to be my future. So I started reading investment magazines and books such as Robert Kiyosaki’s “Rich Dad, Poor Dad” to find out more about the real estate market. “

The Springwood two-bedroom house is a 22-minute drive from the CBD of Brisbane and has a bathroom and parking space, making it the perfect place to rent to a young family

The Springwood two-bedroom house is a 22-minute drive from the CBD of Brisbane and has a bathroom and parking space, making it the perfect place to rent to a young family

The Springwood two-bedroom house is a 22-minute drive from the CBD of Brisbane and has a bathroom and parking space, making it the perfect place to rent to a young family

After his first purchase at the age of 18, Dilleen had almost two years off to just ‘do what young children do’.

He returned to the market by purchasing a number of units in southeastern Queensland between $ 100,000 and $ 200,000. He also has real estate in Adelaide and more expensive in NSW.

Mr. Dilleen saved eight real deposits by working at a paint shop in Penrith, an IT manager role and as a bartender, before using equity from those properties to secure the last 12 houses.

The highest salary he ever had was $ 95,000, but with careful research he was always able to get a bank loan. Dilleen has never been to university.

‘It all comes down to the information you learn. People think you need a 20 percent down payment to buy, instead of a 5 percent down payment, “he said.

“If I started again, I would get a five percent down payment … people are worried about Lender’s mortgage insurance that is calculated based on the purchase price.

Meanwhile, the four-bedroom property in Redbank Plains in Queensland says “seller says sell” on the ad, meaning the owner wants to sell quickly – regardless of current market value.

“Suppose you buy a $ 1 million property in Sydney and $ 50,000 is the down payment of five percent. The lender’s mortgage insurance can come up to an additional $ 20,000.

“If you try to spend an additional $ 20,000 and opt for a 20 percent down payment (that’s $ 200,000), it will take you years to reach, and if the market increases by 10 percent during that time , you would at least spend more. “

Mr Dilleen, who now lives with his wife Francesca in Parramatta, Sydney, said that it is possible to rent and buy an investment property at the same time, but that requires some sacrifices.

“I didn’t travel to Europe until I was 26 or bought designer clothes or luxury cars at the same age as my friends,” he said.

“I gave up because I knew I could do that in the future.”

And the future is here, with the real estate magnet who recently bought his dream car – a mustang from 1969 – after settling in his 20th house.

The Glenelg East unit receives extra points for its proximity to the beach, but still offers a $ 255,000 price guide for two bedrooms

The Glenelg East unit receives extra points for its proximity to the beach, but still offers a $ 255,000 price guide for two bedrooms

The Glenelg East unit receives extra points for its proximity to the beach, but still offers a $ 255,000 price guide for two bedrooms

Mr. Dilleen admits that he probably won’t stop until he has “100 traits,” and has shared tips for those who want to follow in his footsteps.

‘Read books about real estate investments. Read everything about people who have done it before, rather than just people who claim to be experts’.

The hard-working spouse cannot stand the ‘very simple’ play it safe ‘methods described by some money-saving gurus, such as the Barefoot Investor.

“It is the opposite of what I have done and what worked best for me. He usually recommends that people save money to reduce debt and buy a house to live in and be super conservative.

“I don’t agree, because 90 percent of the millionaires in the world have become rich by owning investment property and investing in real estate, but not on their way to retirement.”

“No one can save his way to financial freedom. They must invest and use their capital to capture compound growth, rental income and tax deductions. “

Mr. Dilleen saved eight real deposits by working at a paint shop in Penrith, an IT manager role and as a bartender, before using equity from those properties to secure the last 12 houses (pictured with his wife)

Mr. Dilleen saved eight real deposits by working at a paint shop in Penrith, an IT manager role and as a bartender, before using equity from those properties to secure the last 12 houses (pictured with his wife)

Mr. Dilleen saved eight real deposits by working at a paint shop in Penrith, an IT manager role and as a bartender, before using equity from those properties to secure the last 12 houses (pictured with his wife)

Mr Dilleen, who now lives with his wife Francesca in Parramatta, said that it is possible to rent and buy an investment property at the same time, but some sacrifices are needed

Mr Dilleen, who now lives with his wife Francesca in Parramatta, said that it is possible to rent and buy an investment property at the same time, but some sacrifices are needed

Mr Dilleen, who now lives with his wife Francesca in Parramatta, said that it is possible to rent and buy an investment property at the same time, but some sacrifices are needed

Scott Pape, the former stockbroker behind the Barefoot phenomenon, argues that Australians should save 20 months to buy their family home, preferably in a regional area with public transportation to the city.

Mr Dilleen is responsible instead for buying investments in subway stations – even if it is not in NSW – because you get a good return on the market due to natural inflation.

‘I also don’t see how people have asked the question’ who is this guy who gives advice? “What did he do besides writing a book? “Mr. Dilleen said.

‘Ninety percent of financial advisers know nothing about money, they only have book experience and no real practical experience.

“I personally didn’t start giving advice or talking about real estate investment until I had done it myself. Most of those other people there don’t even have the real experience and just talk about it **. ”

And the future looks bright, with the real estate magnet that recently purchased its dream car - a 1969 Mustang - after settling in at its 20th home

And the future looks bright, with the real estate magnet that recently purchased its dream car - a 1969 Mustang - after settling in at its 20th home

And the future looks bright, with the real estate magnet that recently purchased its dream car – a 1969 Mustang – after settling in at its 20th home

Five best tips for securing your first home deposit:

1. Read books about investment property. Read everything from people who have done it before.

2. Get the emotion out. Do not invest where you know or where you live. I have bought a lot in Brisbane and on the Gold Coast because it is extremely affordable and the rents are high.

3. Every property that I buy is below market value. Find someone who has to sell his property quickly and does not suffer so much from the ‘best price’. Once the owner had a month to sell the property, their priority was just to get out.

4. Ensure a high rental return and calculate the return.

5. Stay at the metro areas within half an hour of the city. People can’t afford it in Sydney, but they don’t buy in Wagga Wagga or Dubbo. I would never buy regionally because you don’t get the same return for your money.

Despite the fact that family and friends have told him that what he is doing is ‘unrealistic’ and ‘impossible’, Dilleen continues to prove that his no-sayers are wrong.

“People say it’s impossible, but then the same person would buy a brand new car,” he said.

“I am totally up to doing what makes you happy, but if you spend money on things that will be worth nothing in a few years … you can’t criticize.”

Eddie created a free and easy-to-download book called 10 properties by 25 that is available on his personal website eddiedilleenproperty.com.au.

You can also find it on Instagram here.

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