Eddie Dilleen: Property mogul shares his buying secrets

He’s from humble stock in Sydney’s west. But Eddie Dilleen has built a housing empire with 32 properties at the age of 29. Now he shares his secrets, including where you should buy next.

For most Sydneysiders getting on the property market is almost beyond reach.

But Mount Druitt real estate mogul Eddie Dilleen has built a housing empire with 32 properties before he hit 30 years of age.

Dilleen came from humble beginnings, growing up in the western Sydney suburb and working long hours at a local McDonalds before he bought his first property at just 18 years of age.

Now 29, he has used the pandemic as a purchasing opportunity as prices dropped.

He describes the current market as being “hot” where “demand far outweighs supply.”

But the good news is he thinks there’s plenty of value to be had if you “think outside the box.”

Eddie Dilleen. (AAP Image/Steve Pohlner)

“There are lenders that will give you a loan with much less than a 20% deposit,” he said.

“I would recommend putting down a smaller deposit to get your foot in the door which you can do with as little as 5% deposit,”

He also highly recommends reading up on property and property investment so you can identify market opportunities and make smart purchases.

“Make sure you educate yourself, read books and get an understanding of property,” he said.

“Don’t take advice from people that don’t have experience buying property. You could buy a townhouse for $500,000 and that is only $25,000 down, it is very achievable for anyone.”

Eddie also notes that many people who own a home or an investment property are unaware they can use equity gained in that property to purchase another property.

“If you already have a property, don’t forget you can use equity in your property to buy another.”

As for the market outlook in Blacktown, the real estate mogul believes you should look outside of the area.

“With low interest rates the Blacktown market is skyrocketing. I don’t see interest rates increasing much at all.”

Property millionaire Eddie Dilleen pictured at home in Greenacre. Picture: Sam Ruttyn

“Over the next few years I see the Western Sydney region growing 5% year on year. I don’t see it doubling in value like it did between 2013-2016.

“I forecast about a 20% increase in Blacktown property prices in the next four to five years.

“If you look in areas like Brisbane, Adelaide and Gold Coast and in particular suburbs like Moreton Bay, Ipswich and Logan they are still under priced and look set for massive growth.

“Brisbane house prices have jumped up 15% in the last 12 months and those places are better value for money. My big tip is to look at properties there.

“There are bargains to be had everywhere and that is where I am buying the most for myself and clients at the moment.”

Dilleen runs an agency called Dilleen Property and has a free ebook for those wanting to get started in property. Download here: Eddie's FREE PDF Book '10 Properties By 25'