Growing up in housing commission with a single mum in the Mount Druitt area on Sydney’s outskirts, Edward Dilleen has bucked the trend and accrued a portfolio of six investment properties. And he’s only 24.

But it’s not wealthy parents or a high-paying job that has allowed him to leapfrog many other 20-somethings yet to even buy a first home. It’s property know-how and goal setting from an early age.

“I want to get to the stage where I’m able to purchase my dream house. Whether that’s acreage or whether it’s a beachfront, I’m not quite sure yet, but it’s something where I just want to have that security there,” Mr Dilleen said.

“I don’t want to have to be worried about money. Growing up I felt helpless and it’s something I never want to feel again.”

Working at McDonalds part-time for several years of high school, reading property investment books in his spare time, he managed to save about $20,000. This became his deposit and costs for a $138,000 apartment in Tuggerawong, NSW, which he bought at 19.

“I don’t want to have to be worried about money. Growing up I felt helpless and it’s something I never want to feel again.”Edward Dilleen

Two years later, living at home with his mum and continuing to save, he used some savings and some equity growth in the Tuggerawong property to purchase a townhouse in Elizabeth South, South Australia for under $150,000.

After a year-long break, he went on a buying spree. In 18 months from January 2015, he bought four properties, including three apartments in Queensland and another townhouse in South Australia.

Today, he has $1.17 million worth of real estate in his portfolio with a debt level of 69 per cent and a salary under $50,000 at a new job in customer service with property investment firm Binvested – though said he built his portfolio before joining the company.

“I want to have 10 [properties] before I’m 26,” he said, already planning to buy the seventh before the end of 2016.

When being paid a modest income, the trick to accruing many properties was making rental yield a strong focus, he said.

A rental return of 5.2 per cent is a rule of thumb when investing, which equates to $100 of weekly rent for every $100,000 of the property value. But he aims for gross rental yields in excess of 10 per cent.

Many of his sub-$150,000 purchases rent for in excess of $250 a week. This means the rent paid by the tenant covers not only the mortgage repayment, but also council fees, bills and necessary repairs.

His property portfolio returns $1500 a week, or about $200 a week in his pocket after costs. He uses this money to pay down the mortgages further, build a security buffer and save for future investments.

A property Edward purchased in South Australia. Photo: Supplied

To reach his goal of owning 10 properties, he is considering taking on a second job as a bartender at a local pub to ramp up his income.

But investing and accumulating many properties at a young age with income limitations is a difficult prospect for many, Pass Go Home Loans managing director Jamie Moore said.

For others to invest in these circumstances, he recommended living at home with the parents and paying no rent or board, or renting somewhere cheap.

Young investors should also have “no other debt” and focus on positively-geared properties, “because lenders will only use 80 per cent of gross rental income – and some lenders will place a cap on the rental yield they’ll take into account”.

Lenders with a generous borrowing capacity calculator, careful planning of which lenders to use at certain points and a cash buffer to mitigate risk would also be crucial, he said.

Young investors should also embrace delayed gratification, Binvested buyer’s agent Nathan Birch said.

“Yes, the dream home in a dream suburb might be unachievable straight up but there are other suburbs that may be more affordable right now. All successful people started at the bottom and worked their way up,” Mr Birch said.

“Change your strategy, buy investment properties in affordable areas and then work your way up to a dream home.”

Young Australians could also consider maximising their income in the sharing economy, through sites such as Uber, Upwork and Airtasker, he said.

Mortgage Choice chief executive John Flavell recommended undertaking a significant amount of due diligence before buying a property – researching where provides the best yields.

“After researching the market, it is important for investors to consider what they want from their investment property,” Mr Flavell said.

“Many people make the error of believing property investment will make them millionaires overnight. This is simply not the case,” he said.