It comes as no surprise that the housing market is a little…disheartening at the moment. We’ve been seeing unending raises in both home prices and rent charges, which has caused quite the toll on many, many people.
Others don’t see it that way, though, and are instead taking advantage of the market as it is right now by snapping up properties left and right. That’s the case for an Australian home-buyer who thinks anyone could follow in his same footsteps if they only tried.
Eddie Dilleen is a bigshot real estate investor.
He already owns over 42 homes in Australia with a goal of owning over 1000, making him quite the well-known name in the world of property management.
With fame, of course, comes some controversy.
As if snapping up homes by the dozen wasn’t enough, he’s got a few questionable opinions.
Like who he thinks is to blame for the current housing crisis and skyrocketing prices of homes around the world. “People who say it’s investors’ fault prices are going up, I think they’re looking for someone to blame. It’s a victim mentality. If things are hard it must be someone else’s fault,” he said in an interview with realestate.com.au .
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He thinks people today are choosing the ‘easy’ route.
“It’s human nature. It’s easier to complain than to do something about it. Pointing the finger at someone else is easier than doing something to improve your situation. The way I see it, you can complain or you can do something.”
He claims to know what it’s like, having started his investment journey while working at McDonald’s.
However, his method of acquiring homes has even been criticized by others in the market. He used a leverage system that “involved drawing equity out of previous purchases through refinancing agreements to fund the upfront costs of additional property buys.”
However, he thinks the property market needs people ‘like him’.
“The government can’t supply housing for everyone. It’s physically impossible.”
He also credits some of his purchases to loans he’s received from third-party lenders and the good relationships he maintains with real estate agents.
And no matter how much flack he gets, he shows no signs of backing down.
“I don’t think I will ever stop,” he said, “I will have 1000 properties. It’s a healthy addiction. It’s like doing the next thing when you hit some milestone. You go after the next one and the next one. I want to overtake everyone.”
h/t: LADBible
