Aussie real estate mogul, 33, who owns 110 properties shares the ‘four golden rules’ he swears by – and the capital city to buy in now

House prices and ongoing fears of rising interest rates haven’t stopped real estate mogul Eddie Dilleen from buying another 10 properties in the past six months – and he’s confident everyone can still get into the market.

The 33-year-old from Sydney, who grew up on the housing commission with his mother, has 110 properties to his name worth a whopping $90 million and rakes in $50,000 a week in rent.

Since purchasing his first device at the age of 18, he has ‘learned to play the game’ and built his impressive portfolio. Today the father-of-two has 35 properties in Perth, 50 in Brisbane, 15 in Sydney, eight in Adelaide and two in Melbourne.

And he has no plans to stop anytime soon, with hopes of reaching 2,000.

Eddie told FEMAIL there are four “golden rules” he swears by and that others can use to follow in his footsteps: buying below market value, buying in metropolitan areas and ensuring rental yields are at least six percent.

He also buys in locations that others avoid – a strategy called “contrarian value investing.”

While many young Australians may view owning multiple investment properties as ‘unethical’ or ‘greedy’, Eddie says landlords like himself are not the problem when it comes to house prices.

Eddie told FEMAIL there are four “golden rules” he swears by and that others can use to follow in his footsteps: buying below market value, buying in metropolitan areas and ensuring rental yields are at least six percent. He also buys from locations that others avoid

Eddie said he tends to buy in areas where there isn’t much demand to get the best price.

Earlier this month, reports indicated that house prices in Melbourne fell by 1.1 per cent.

With an average house price of $929,715, Melbourne is now the fourth most expensive market in Australia’s capital for a home with a backyard, despite being Australia’s second most populous city.

Rather than avoiding the capital, the fall in property prices and the influx of apartments have piqued Eddie’s interest.

“I believe Melbourne as a whole market in itself is undervalued. Everyone is basically running away, which is one of the reasons why prices are falling, and I see that as an opportunity,” he said.

“I did the same thing in Queensland, Adelaide and parts of Sydney years ago and now those markets are booming.”

One of his most recent purchases in Melbourne’s CBD was a one-bedroom apartment, bought for $327,000.

He explained how the market functions in a ‘cycle’ and that Victoria is currently at its lowest point, with prices falling and likely to rise again in the future – presenting the perfect opportunity for buyers.

Pictured: One of Eddie’s recent purchases was a one-bedroom apartment in WA, priced at $327,000, where he receives $550 a week in rent, or an 8.74 percent return

He has also managed to score a 10 unit complex in WA for $4.1 million. This complex receives $6,600 rent per week with a return of 8.33 percent

Regarding those who criticize his strategy, Eddie said: ‘You can’t hate the player, it’s the game itself. The system has been manipulated.

‘Either you learn to play the game and do your best, or you say it’s too difficult and do nothing. If it’s not you, it’ll be someone else.

‘And if you don’t allow landlords at all, the situation will only become ten times worse. You actually need landlords.’

As for the current market, Eddie said Australians can still get in with the right strategy – and his only advice is to ‘act now’.

Even with the current sky-high interest rates.

“Yes, everyone is afraid of interest rate increases, including me, but I’m doing it anyway,” he said, although he said his rental income helped him offset that.

However, he pointed out that this depends on the situation.

For example, the average person earning $70,000 a year wouldn’t be able to afford a $4 million dollar property in Bondi.

Instead, Eddie approved rentvesting, where he lives in a desired area and buys an investment property elsewhere.

Currently in NSW, there are apartments and units available in western Sydney for as little as $370,000.

But those reluctant to rent may need a lifestyle change away from popular areas such as the eastern suburbs.

As for those who criticize his strategy, Eddie said: ‘You can’t hate the player, it’s the game itself’

Under the right circumstances, Eddie is confident Australians can buy their first two investment properties in just one year.

“It is possible to buy with a five percent deposit… I started with a 10 percent deposit when I was 18 years old,” he said.

To help others he has written another book titled ‘How to Buy 10 Properties Fast’.

He recommends trying different lenders and mortgage brokers to maximize your borrowing capacity, being creative and persistent, and educating yourself.