Millionaire Property Investor Blames Housing Crisis On 'Victimhood Mentality'
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A millionaire investor tells people to stop ‘complaining’ after claiming he wants to buy 1000 homes while blaming the housing crisis on ‘victimhood mentality’.
The Sydney based-property investor, Eddie Dilleen, who has already snapped up 42 properties, spoke with realestate.com.au, where he shifted the blame towards investors instead of surging house prices.
He said: “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.
“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.”
However, Dilleen, who has purchased 20 properties in the past two years, claims he knows all about pointing the finger, as he came from humble beginnings.
Dilleen began working for McDonald’s, earning a low income while purchasing most of his properties by leveraging debt.
He said: “I came from a family who were broke. No one in my family owned an investment property.
“I decided to do something different.”
He merely puts his pants on one leg at a time!
However, the leverage system has been criticised by other investors as they have had to draw equity from their other properties to provide upfront costs to buy another.
But the 30-year-old enforced that the property market needs people ‘like him’
Dillen said: “The government can’t supply housing for everyone. It’s physically impossible."
He added: "I don't think I will ever stop. 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."
The Sydney property investor also attributes his purchases to receiving loans from third-party lenders and maintaining a good relationship with real estate agents.
He’ll undoubtedly reach his 1000th home milestone if Dilleen keeps going at this rate.
Still, we can’t help but draw comparisons to his comments and ScoMo telling renters to alleviate financial struggles simply by buying a home.
The Daily Mail reports the PM faced backlash after appearing on The Today Show in March and said: “[The] best way to support people who are renting a house is to help them buy a house.
"And over the last three years, we've got over 300,000 Australians directly in their own home and particularly single mums.”