**Finalist of the Personal Finance and Investment Book of the Year at the Australian Business Book Awards 2022**
Find financial freedom through property investment with help from an Australian success story Drawing on his own remarkable rags-to-riches story, author Eddie Dilleen delivers a recipe for financial independence in 30 Properties Before 30: How You Can Start Investing in Property Right Now. In the book, readers will find a step-by-step roadmap to building an expansive portfolio of properties and advice to help them reach their financial goals sooner. The author includes powerful formulas and strategies that anyone can use to take control of their financial future. Readers will also 30 Properties Before 30 is the perfect book for anyone ― regardless of age, wealth, education, or background ― who hopes to build a better life for themselves and their family.
Whilst a great book on his story, it doesn’t really encapsulate how to do it on your own. Most of the book is about his properties. The book guides you to his website which then guides you to his business. However there are better books on the market with more in-depth information on how to do it yourself or at least key info to get started. Whilst amazing story, it just didn’t give much else.
Good intro to property investing and I definitely agree with the theory of cash flow focused properties. However in practicality there were some elements of investment that it failed to highlight: - cashflow changes as interest rates rise - risks associated with gearing to invest - buying undervalued properties... hard for the average person and tricky in a hot market Property investment always seems like a great idea when interest rates are low, prices are going up and everyone's happy but it shouldn't be treated as a blanket investment strategy that will "work for anyone".
A good read, but like most, take it with a grain of salt :)
WARNING IF YOU ARE A BEGINNER - TAKE ADVICE FROM THE BOOK WITH A GRAIN OF SALT (ITS GOOD ADVICE, BUT NOT THE WHOLE ADVICE)
If this book was made clear it was for beginners, I may have given it more stars. Otherwise, it was an easy read that possibly could be summarized into half as many pages due to the repetitive nature of Eddie trying to illustrate his own personal life, property investment strategies and with a few testimonials related to his buyer’s agency.
Eddie does shed light on the different techniques of property investment strategies, utilizing the buy and hold, sub-division, duplex, renovation, rentvest and flip-it strategies and pro- cons. He is quite accurate with regards to his thoughts about many topics, however, the biggest issue I found was he did not scrutinize his own investment strategies.
From first glance, the strategy he uses does work, but it does remind me of a ponzi scheme. It can only go so far, before one major variable changes and it will all collapse.
If you have minimal savings and living pay-to-pay check, I would not recommend his strategy unless you can risk declaring bankruptcy if things don’t go the right way.
Rental yield must allow neutral or positive gearing (income > expenses)
Look good to the bank to borrow more money
Look pretty for the bank, if one bank sees you as high risk, find another bank. If you can’t find a bank that wants to give money, find the next poor soul who would want to help.
Momentum is lost when no bank wants to give you a loan.
Or you declare bankruptcy, if the interest rate goes up, and all positive geared homes become negative geared. If you have 30 properties and all of them cost $5,000 to own, that is $150,000 worth of money down the drain yearly.
If you take bankruptcy then say good bye to property investment forever
If you choose to sell all the houses so you are able to maintain repayments → you now are the desperate seller → selling undervalue property to the next Eddie → may the ponzi scheme move on to the next person.
If you are cash rich, you can just lose $150,000 per year until the cash-rate drops, so your portfolio becomes positively geared again.
I call bull on buying a house in Adelaide for like $150k in 2017. Unless it’s regional or needs some serious work, nope. Doesn’t mention in any of the houses need work until one of the final houses he bought.
Glad to see the numbers for some of it but not truely having savings to buy some of these, just relying on equity. No, wonder you had issues getting your later houses.
Some of the advice is sound and would follow but some of it, I won’t.
Good strategy for younger folks who can't afford to buy in at $1.2m and negatively gear for 30 years.
Having said that - would be keen to see how those properties are geared with interest rates back at historical averages. Would also be keen to hear about how he went with tenants as he's often buying in rough areas to get the yields.
Book gets a bit repetitive and there are some missed opportunities to go into extra detail to provide more insight for the readers.
It's hard to get into first especially when your learning something new. I absolutely loved it and feel I've learnt more from this book than I have from people I've gone to see and asked about investment properties. I had experience with negative gearing and I don't like it at all. This was about positive cash flow and just made so much more sense to me. Thanks Eddie!!
Well written book. Really easy to read. Provides solid examples of results and tangle advice you can use right away. Eddie's story and his approach to what he does feels authentic and genuine. Highly recommend.
I already have a pretty good grasp of the real estate industry, but I thought it can’t hurt to learn more. I found this book very informative and offers a lot of insights and ideas that can be used to grow your own property portfolio.
A good book filled with facts and figures about property purchasing, while in the foreground the writer explains his journey, buying property after property. I liked it. It really gave me the insight into property investing which I was looking for.
Finally found a real estate book that's based in Australia, Eddie does an incredible job explaining all of the real estate investing principles, and how he was able to achieve his goals coming from humble beginnings. Sensational!
The best book on property investment. You can tell that the reason for writing this book is because he wants to help others and not because he wants another stream of income. Recommend to everyone interested in the topic. Also an added bonus he lives and grew up a couple hours from me.