What We Can Learn From ‘30 Properties Before 30’ by Eddie Dilleen
Source: Amazon, 2024
30 Properties Before 30 by Eddie Dilleen shares the inspiring story of how Eddie, a young investor, built a property portfolio of 30 properties by the age of 30. His approach to property investing challenges traditional ideas about the "right time" to buy property and shows how determination, resourcefulness, and unconventional strategies can lead to impressive results. This book offers a fresh perspective on achieving financial freedom through property, particularly for younger investors or those who may feel that property investment is out of reach due to limited income or savings.
Here are some of the core lessons from 30 Properties Before 30 and what they teach us about property investment.
1. Start Early and Leverage Small Beginnings
Eddie Dilleen’s journey began with small steps; he started investing in properties when he was just a teenager. Despite having limited funds, he found affordable properties in high-demand areas where he could start building equity. He shows that beginning early—even with modest resources—can pave the way for significant achievements down the road.
Lesson: Starting small is powerful. You don’t need a massive budget or a high salary to begin investing in property. By taking advantage of lower-priced properties, especially in secondary or up-and-coming markets, you can start accumulating wealth early and build momentum.
2. Look Beyond Major Cities for Investment Opportunities
Dilleen’s strategy included investing in affordable properties in regional areas and secondary markets rather than sticking exclusively to capital cities. These areas often have lower entry costs but can still offer solid rental yields and capital growth potential, especially as population trends shift and infrastructure improves.
Lesson: Don’t limit your search to major cities. Regional and secondary markets can offer high rental yields and future growth, especially in areas benefiting from new infrastructure or rising demand. These areas often provide a more accessible entry point into property investment.
3. The Power of Cash Flow and Positive Gearing
Unlike traditional advice that focuses primarily on capital growth, Dilleen emphasizes the importance of positive cash flow—properties where rental income covers expenses and provides extra income. Positive gearing allowed him to reinvest his earnings, cover mortgage payments, and grow his portfolio more quickly.
Lesson: Positive cash flow properties can accelerate portfolio growth by generating income that can be reinvested. Choosing properties that pay for themselves—or even generate surplus cash—reduces the strain on personal finances and creates a more sustainable path to building a portfolio.
4. Leverage Equity to Expand Your Portfolio
Dilleen used a strategy of leveraging equity—using the increased value of his properties to secure financing for additional purchases. By refinancing properties as they appreciated in value, he was able to access funds for deposits on new investments, allowing him to scale his portfolio without relying solely on his income or savings.
Lesson: Leveraging equity is a key strategy for building a property portfolio. As properties increase in value, you can refinance and use the equity to fund additional purchases, creating a snowball effect that fuels portfolio expansion. This approach allows you to grow your assets over time without needing large amounts of cash on hand.
5. Adopt a ‘Buy and Hold’ Strategy
Dilleen primarily advocates for a buy and hold strategy, which involves purchasing properties with the intention of holding onto them long-term to benefit from capital appreciation and rental income. By holding his properties rather than selling, he was able to build a stable portfolio that generated passive income and capital growth.
Lesson: The buy and hold strategy allows investors to build long-term wealth by holding onto properties that appreciate over time. Selling may provide immediate profits, but holding properties enables investors to accumulate wealth through both rental income and property appreciation.
6. Be Willing to Make Sacrifices and Stay Disciplined
Dilleen’s journey required significant sacrifices and discipline. He worked multiple jobs, minimized his expenses, and saved diligently to afford deposits and other costs. He encourages readers to adopt a disciplined approach to saving, budgeting, and investing, emphasizing that lifestyle sacrifices in the short term can lead to financial freedom in the long term.
Lesson: Achieving ambitious financial goals requires discipline and sometimes sacrifices. By keeping expenses low and focusing on building your portfolio, you can invest more aggressively and reach your goals faster. Sacrificing luxury for investment can have long-term payoffs in building wealth.
7. Overcome Fear and Take Calculated Risks
Dilleen acknowledges that fear can be a barrier for many aspiring investors. He advises readers to take calculated risks and to trust in their research and due diligence rather than being paralyzed by fear of loss or market downturns. He believes that success in property investment often comes down to action and persistence, even if it means stepping out of one’s comfort zone.
Lesson: Property investment involves risk, but well-researched, calculated risks can lead to substantial rewards. Rather than letting fear hold you back, take action based on thorough research and due diligence. Building wealth often means pushing past hesitation and trusting the process.
8. Understand Financing Options and Creative Funding
One of the standout aspects of Dilleen’s approach is his understanding of financing options. He worked with various lenders and learned how to use different financing structures to keep purchasing properties. He also explores creative funding solutions, such as low-deposit loans and using rental income projections to meet borrowing requirements.
Lesson: Knowing your financing options and exploring creative funding solutions can make property investment more accessible. Familiarize yourself with various loan products, understand lending criteria, and work with professionals who can guide you in maximizing your borrowing capacity.
9. Stay Informed About Market Cycles
Dilleen emphasizes the importance of staying informed about property market cycles and adjusting strategies accordingly. By understanding how markets ebb and flow, he could make better investment decisions, focusing on buying when prices were favorable and being cautious in overheated markets.
Lesson: Market knowledge is key. Staying aware of property cycles and knowing when to buy, hold, or refinance helps investors make more strategic decisions. This awareness can prevent overpaying during booms and allow you to capitalize on opportunities in softer markets.
10. Leverage Professional Support and Mentorship
Dilleen acknowledges the importance of professional support and mentorship in his journey. He worked with mortgage brokers, property managers, and real estate experts to make informed decisions. He encourages readers to seek guidance from experienced professionals and to continuously learn from others who have succeeded in property investing.
Lesson: Build a support network of experienced professionals. A mortgage broker, buyer’s agent, property manager, or mentor can provide invaluable guidance and help you navigate the challenges of property investment. Learning from others’ experiences can also help you avoid costly mistakes and accelerate your progress.
11. Embrace a Growth Mindset and Resilience
Dilleen’s story reflects a strong growth mindset and resilience. He faced numerous challenges along the way, including setbacks, financial limitations, and a steep learning curve. Instead of giving up, he adapted, learned from mistakes, and remained committed to his vision. His journey emphasizes the importance of resilience and a mindset focused on long-term growth.
Lesson: A growth mindset and resilience are essential to building a successful property portfolio. Stay open to learning, adapt to changes, and don’t let setbacks derail your goals. Embracing a mindset focused on growth can help you navigate challenges and stay motivated.
Final Thoughts
30 Properties Before 30 by Eddie Dilleen is both inspirational and practical, showing that with determination, creativity, and careful planning, even those with limited resources can succeed in property investment. Dilleen’s approach provides a powerful example of how unconventional strategies, such as buying affordable properties in secondary markets, focusing on cash flow, and leveraging equity, can be used to build substantial wealth over time.
The book’s emphasis on starting early, staying disciplined, and continuously learning offers valuable lessons for aspiring property investors. By following Dilleen’s example, readers can gain confidence to begin their property journey, knowing that a modest start can lead to significant financial rewards with patience, hard work, and a smart strategy.
