From houso to millionaire: Man, 27, who grew up in a living commission now boasts a $3m property portfolio – and reveals how you can too
- Property mogul Eddie Dilleen has climbed the property ladder at just 27
- He grew up in public housing but now owns an impressive total of 14 properties
- Mr Dilleen recommends investing in properties in South East Queensland
A mogul who grew up in a housing commission has amassed an impressive $3million property portfolio at just 27 years of age.
Eddie Dilleen is now the proud owner of 14 properties in Queensland and hopes to own a total of 20 properties by the time he turns 30.
Rather than saving for holidays or a car when he was a teenager, Mr Dilleen put all his effort into saving up for a deposit, 9 News reports.
Property mogul Eddie Dilleen (pictured) has climbed the property ladder at just 27 years of age
Mr Dilleen is the proud owner of 14 properties worth more than $3 million
Mr Dilleen’s tricks
– Buy cheap property below market value
– Charge tenants double the price
– Buy properties within 30 minutes distance of a metropolitan hub
– Invest in South East Queensland areas
He worked three jobs to afford his first unit, which he bought at age 19.
Mr Dilleen’s trick? Buying cheap property below market value and renting it out to tenants for double the price.
His tenants then effectively pay off the mortgage for him.
He bought most of the homes from rural areas in South East Queensland, which he claims is the best area for prospective buyers to look.
In particular he recommends investing in properties in Petrie, Ipswich, Beenleigh, Coomera and Southport.
He also advises people to buy property within a 30 minute reach of a metropolitan area.