25-05-2025
Tradie buys 11 homes by the age of 28 - here's how he did it
A 28-year-old construction worker who downed tools after building a $6million property portfolio from the comfort of his beachside rental has revealed how he defied the odds stacked against young home buyers.
Dylan Adkins lives with friends in a rented beachside home on the Gold Coast. He surfs regularly, snowboards a couple of times a year, plays footy, studies real estate and works as a buyer's agent at Buildup Buyers Agency.
At the age of 24, Mr Adkins became a 'rentvester' - someone who rents in a lifestyle location while owning investment property in a more affordable area.
'I'd originally saved with the intention of buying an owner-occupier in Brisbane, but realised those funds could actually cover two deposits for investment properties,' he told The Courier-Mail.
'I had a mentor at the time, my old boss, who always preached the importance of trusting experts. He built his wealth by staying across everything, but relying on specialists.'
His first purchase was a rundown three-bed home in Moreton Bay, about an hour north of Brisbane, for $481,500 in 2021, having saved up for a deposit with 'blood, sweat and tears'.
Since then he has paid out a total of $4,291,500 building a portfolio than now includes homes in Adelaide, Cairns and Toowoomba on top of another three homes and four units in Townsville.
Mr Adkins estimated the value of his portfolio at about $5.88million - giving him an on-paper profit of $1.5million.
As a buyer's agent himself, the 28-year-old knows how to secure discounts of as much as $40,000 off the asking price.
But he said no inside knowledge was needed for those who do their due diligence.
'I make sure we understand the local market in detail: recent sales, what properties are renting for, how long listings are sitting on the market and what other buyers are doing,' he said.
'That way, the offer isn't emotional – it's backed by real numbers and market context.'
In a video posted to Instagram, he recommended the following to anyone seeking to invest in property: buy initially in a high-growth area, use that equity to fund subsequent purchases in diversified locations and always keep an eye on cash flow.
He doesn't take his lifestyle for granted and nor should he given the struggles most young Aussies find themselves trying to afford a deposit on their first home.
Research from Aussie Home Loans recently found Australians were increasingly holding off on getting married to instead buy their first home.
Home loans to unmarried couples - 'de facto mortgages' - increased from 15 per cent of all mortgages in 2015 to 27 per cent in 2024.
Domain's most recent first home buyers report found young Australians last year took an average of one month longer to save up for a home deposit than the year prior.
Over the past five years, prices for first home have increased by nearly 60 per cent for house and 27 per cent for units.
At the same time, inflation has increased by 20 per cent against wages growth of only 15 per cent meaning Australians are being paid less in real terms, while having to spend much more on a home.
And, with the average rental becoming increasingly expensive - up 4.8 per cent on average last year according to CoreLogic - the dream of 'rent-vesting' may be harder to realise.
But Mr Adkins says a data-driven approach to investment, cash-flow from high-demand rentals, and unstinting rises in property prices, means those who follow his lead can be all but assured of steady returns.
'Instant gratification? Absolutely not,' he said on Instagram.
'The first 12 months, I bought two properties and that was from blood, sweat and tears savings. From there, I was able to buy two more in the next 12 months.
'I then proceeded to have to take approximately eight months off and the last seven were bought in the space of five months and that came from extensive finance strategy planning.'
