Foreign Property News | Posted by Hnin Ei Khin
It’s hard enough to buy a first home, but these three Australian investors have a combined total of 273 properties in their portfolios and continue to add to this number during COVID-19.
Nathan Birch, Eddie Dilleen and Oscar Ledlin started buying at a young age and have managed to grow their net worth into the millions.
Now, they see the market conditions during COVID-19 as one of great opportunity and are taking every advantage of the situation.
Nathan Birch has added seven properties to his 200 during COVID-19.
Leading the charge is Nathan Birch – a 35-year-old investor and founder of Binvested, which is a property investment firm.
Birch had 200 properties in his portfolio before COVID-19 and has added seven more to the list since the pandemic hit.
“I see it [COVID-19] as a great opportunity as interest rates are at an all-time low,” said Mr Birch.
“Some people are scared, but… we are in the early phases of a new property boom.”
Mr Birch said the property market is in a similar place to 2009 during the global financial crisis, which has proved to be a good time to invest, with high rental yields in capital cities and strong stimulus packages from the government.
“Besides this, being committed and focused on your goals, and doing what is required, is important.”
Mr Birch said he hopes to be a billionaire by the time he’s 40 by using the same buying strategy he has used over the last 17 years.
“Let’s check back in and see how I go,” he said.
Eddie Dilleen is buying his most expensive property yet
Eddie Dilleen, the director of Dilleen Property, has 22 properties valued at about $7 million and is in the process of buying two more.
COVID-19 has given him the opportunity to buy his most expensive property yet – a Sydney home valued at $1.28m. He said he usually invests in properties valued between $200,000 and $700,000.
The Sydney-based 28-year-old bought his first investment property, on the NSW Central Coast, for $138,000 at the age of 19, with money he earned from his job at McDonalds.
After his first investment, Mr Dilleen’s buying strategy was to avoid competitive and expensive Sydney and Melbourne markets and instead looked to Adelaide, the Gold Coast and Brisbane as investment capitals.
Oscar Ledlin is the 27-year old developer who, through his company Ledlin Developments, has bought, owned and sold 51 properties this year valued at just over $75 million.
“The most celebrated investors of previous generations write books on creating wealth during historic times of economic downturn and uncertainty. In books 10 years from now, we will reference COVID-19 as one of those times,” Mr Ledlin said.
“The short-term economic outlook for Australia is treacherous, without doubt. But we are finding real estate opportunities that haven’t been seen in the recent decade. A fearful vendor makes for a cheerful purchaser – vendor’s are fearful of what’s to come and this is providing incredible opportunity for the savvy purchaser.”
The Melburnian previously worked as a dishwasher in a Thai restaurant and as a tradie, however, by 21, he was a multi-million dollar investor with assets including factories, construction sites and land.
Ref: realestate.com
