PHOTO: A savvy property investor who owns 20 houses says young people are missing out on being able to own house by being too fixated on living in a nice suburb too soon (Daniel Walsh, left, with his wife Sophie) THE DAILY MAIL
A former renter turned property investor, Daniel Walsh, now residing in a lavish $6 million waterfront estate, has offered valuable insights for young Australians navigating the challenging housing market.
At 33, Walsh, alongside his wife, owns a Lamborghini Huracan, a 50-foot yacht, and a $20 million real estate portfolio, comprising 19 investment properties across Sydney, Melbourne, Brisbane, Adelaide, and Perth
Daniel Walsh, 33, last year bought a $6million waterfront house on Sydney ‘s northern beaches, near Palm Beach. The married father of one also owns a Lamborghini Huracan and a 50-foot yacht on top of his $20million real estate portfolio
Walsh’s journey began humbly, purchasing a four-bedroom house in Thirlmere for $324,000. Instead of fixating on immediate gratification, he strategically used rental income and leveraged the value of existing properties to expand his portfolio, capitalizing on rising real estate values due to population growth.
Walsh challenges the notion that homeownership is unattainable for young people, emphasizing the importance of changing perspectives. He encourages buyers to explore affordable options in outer suburbs, where properties are more accessible and likely to appreciate in value over time.
Instead of saving up for a mortgage deposit to buy the ultimate home, Mr Walsh started his investment journey by buying a four-bedroom house at Thirlmere, 95km south-west of Sydney for $324,000.
Highlighting his own experience, Walsh emphasizes the strategy of “rentvesting,” whereby one rents where they want to live and invests where they can afford. He stresses the significance of investing in areas with potential for population growth and advises against fixating on dream homes in expensive suburbs.
Walsh’s pragmatic approach led him to invest in properties in various states, prioritizing affordability and future growth potential. He cautions against investing in areas with unreliable tenants or stagnant economic growth, urging buyers to focus on areas with demographic shifts and limited housing supply.
He and his wife Sophie also rented in granny flats until he was 28, when he switched to renting a house
With a keen eye on population trends and building approvals, Walsh’s strategy has yielded success, evidenced by his substantial property portfolio and thriving investments. His story underscores the viability of strategic property investment as a pathway to financial security and retirement.
How Daniel Walsh started his property journey
SOURCE: THE DAILY MAIL