From McDonald’s to Property Mogul: Eddie Dilleen’s Journey and Recent Sales
In a remarkable tale of determination and savvy investment, Eddie Dilleen, a self-made property investor, is making headlines as he prepares to sell five rental properties in Queensland. Despite his strong belief in the growth potential of South East Queensland, Dilleen’s decision to divest is rooted in a strategic financial maneuver rather than market pessimism.
The Investor’s Background
Eddie Dilleen’s journey began humbly, working at McDonald’s, where he first saved enough to purchase his first home. Fast forward to today, and he boasts an impressive portfolio of over 100 properties, a testament to his keen eye for investment opportunities and an unwavering commitment to financial growth.
Recent Sales: A Strategic Move
Dilleen recently announced that he is selling five properties across Greater Brisbane, with two already sold and two more listed for sale. A fifth property is expected to hit the market soon. This decision might seem counterintuitive given the booming property market in Queensland, but Dilleen has a clear rationale.
“I’m selling a handful I bought in my self-managed super fund two to four years ago,” he explained. The properties, while appreciating significantly in value, are tied up in a structure that limits his ability to access the equity without selling.
The Challenge of Self-Managed Super Funds
Dilleen’s situation highlights a common challenge faced by investors using self-managed super funds (SMSFs). While these funds can be an excellent vehicle for property investment, they come with restrictions. “You can’t take the equity out,” he noted. To realize the equity and reinvest it into larger assets, selling is the only option.
For instance, one property Dilleen purchased in Crestmead for around $400,000 has surged in value to nearly $700,000. Another, bought for $430,000, is now valued at approximately $850,000. While these gains are impressive, the limitations of the SMSF structure necessitate a sale to unlock that equity.
Market Trends and Investor Sentiment
Dilleen’s decision to sell aligns with a broader trend in the Queensland property market. Many investors are cashing out as property values soar, taking advantage of the equity built up in their investments. “They’re getting their equity out. I’m doing that, but I have to do it because the ones I’m selling are in super,” he explained.
Despite the necessity of selling, Dilleen remains optimistic about the market. He has no regrets about his investments, viewing them as a successful strategy that has significantly increased his wealth. “It shows how much better off you are even buying a basic property in super, using the power of leverage,” he stated.
Future Plans: A Shift in Focus
Looking ahead, Dilleen is contemplating a shift in his investment strategy. He is exploring opportunities closer to his roots in Western Sydney, which he likens to the burgeoning suburbs of Ipswich and Logan in Queensland. This move reflects his adaptability and keen understanding of market dynamics.
Conclusion
Eddie Dilleen’s journey from a McDonald’s employee to a property mogul is a compelling narrative of ambition and strategic investment. His recent decision to sell five Queensland rentals underscores the complexities of property investment, particularly within self-managed super funds. As he navigates this transition, Dilleen remains a testament to the power of leveraging real estate for financial growth, inspiring many aspiring investors along the way.