'Stop complaining': Investor defends plan to buy 1000 homes
A Sydney-based real estate investor who owns 42 homes and has set his sights on acquiring 1000 properties has revealed that he doubts he and other investors have had a marked impact in driving up home prices.
It’s an approach that has attracted controversy as investors armed with refinancing credit account for a large share of housing demand and often compete for the same housing as first-time homebuyers. But Mr Dilleen, who said it was his goal to own 1000 homes, explained that the housing market “needs” people like him.
“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. “I came from a family who were broke. No one in my family owned an investment property,” he said. “I decided to do something different.”
His has also formed strong relationships with real estate agents, which help him to learn of deals where the properties may be selling for prices under the market value.
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