Cited article by Tony Yoo Journalist at Yahoo Finance Febuary 27 2020.
He’s done quiet well for someone who used to work in a fast food chain. Eddie is only 28 years of age and already on to his 20th property. Eddie from western Sydney was rasied by a single mother, living in public housing and on government pension.
From a very young age he was going to stop the cycle of poverty and government hand outs.
“It was very hard to put food on the table. I didnt want this problem to be in my future.”
While reasearching he found out that many wealthy people made money from owning properties.
At 18 he purchsed his first property a small apartment on the central coast 10 years ago.
From the age of 14, he worked many jobs to get his first deposit together. Fistly KCF and McDonalds, then at tool barns such as Bunnings and Miter 10, and then later pulling beers at 5 pubs.
Now according to Eddie he earns about 120K from the rental of the properties annually, each property rents for approx. $300 per week.
Gross per year he earns 320K in rental income, the out goings such as maintance, rates and loan and interst costs me about 200K a year.
His inital goal was to buy one or two properties and sell them off, but as his property protfolio grew, he had a change of heart.
“Because I got int early, it makes no sense to sell.”
“If I had sold when I thought I would I would he lost and shot myself in the foot.”
Dilliens real estate profolio….
He wrote a book “10 properties by 25”, five years ago.
But he revealed to Tony Yoo from yahoo finance that his propfolio has grown to 5.6 to 6 million dollars worth, with 20 properties undermeath his belt.
“My long term goal is to hit 100 properties”, he mentioned.
These are is properties:
NSW (3): two in western Sydney and one on the Central Coast
Adelaide (4): three houses and one apartment
Queensland (13): ten in Brisbane and three on the Gold Coast