A man from Sydney who dropped out of high school and has been working on minimum wage shares how he has amassed a portfolio of 13 properties in just 12 years.
Daniel Walsh, 31, dropped out of school at 15 to take a job as an electrician apprentice, earning less than the adult minimum wage, but saved half of his salary.
In 2011, Walsh, then 19, bought his first home in Thirlmere, Sydney's southwest where he made a down payment of $34,000. He bought the house at good timing, as Sydney prices rose by $100,000 in just one year.
Since then, Walsh and his wife, Sophie, 28, have bought a total of 13 homes worth $10 million. They earn rent to pay off mortgages and pay for maintenance, while earning an additional $100,000 a year in passive income.
Walsh said he started as an apprentice and then as a train driver, during which time he gave up going out with friends and eating at restaurants.
"I knew that if I worked hard for 10 years, I wouldn't have to work hard for the rest of my life," he said. I knew early on that this was not a sprint, but a marathon. ”
Instead of partying like other young people, Walsh spent hours talking to agents, reading books and watching TV shows on property investments.
Since acquiring his first home in 2011, Walsh has purchased properties in Sydney, Melbourne, Adelaide and Brisbane.
He and his wife currently live in a $2 million property in Sydney.
