Eddie Dilleen opens up to the world about his humble background and how he wanted to break away from the cycle of poverty at the age of 12. The remarkable young man bought his first property at the age of 18 and now 12 years down the lane, he is the owner of 43 homes and has a net worth of more than $20 million (£15 million) with homes all around Australia.
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Eddie Dilleen, a 30-year-old who owns 43 homes, says 'anyone can invest in property.'
Eddie, from Mt Druitt in western Sydney, was only 18 when he bought his first two-bedroom flat for $138,000 (£105,000) and rented it out for $220 (£167) per week.
Credit: Twitter/@EddieDilleen
Now 12 years down the lane, the man has a remarkable portfolio with a worth of more than $20 million (£15 million) with homes all around Australia.
Talking to Daily Mail Australia, Dilleen said the three things he looks for in a property is: a high yield; capital growth; and making sure the price is below market value.
Credit: Twitter/@EddieDilleen
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He said: "Anyone can invest in property, but you need to consider your goals and think long-term."
The property agent says he purchased his first four homes on a $50,000 (£38,000) a year salary.
"It's all about understanding how the banks lend you money - having a high yield means you can continue to borrow," he explains.
"Start small and get in as soon as you can."
The investor additionally also opened up about his family background and shared that his interest in property began when he was 14 and working at McDonald's.
Credit: Twitter/@EddieDilleen
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"From humble beginnings, I grew up in a rough neighbourhood and no one in my family owned a home," he said.
"Mum struggled to put food on the table, we had to buy second-hand clothes from the Salvos, it was very rough financially.
Credit: Twitter/@EddieDilleen
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"I remember when I was 12 thinking 'this sucks' and wished things were different ... I wanted to break out of the cycle."
So working smart, rather than following paying off the initial loan first, he decided to leverage the capital gains and bought his second property at 21.
Credit: Twitter/@EddieDilleen
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Dilleen also debunks the thinking that large capital is needed to invest, as he says that as little as five percent is enough to get you started.
"Most people think they need a 20 percent deposit but you can buy your first property for as little as 5 percent down," he adds.
"Brisbane is one of the best markets to be buying in right now, you can buy a property for $300,000 (£227,000) so 5 per cent of that is $15,000 (£11,000)."
Credit: Twitter/@EddieDilleen