Quantcast
More

    Man who will be mortgage free by the time he’s 30 after buying and renovating one home a year

    Meet the Subway sandwich artist who quit his job to buy property – and now he’s mortgage free aged 30 and living in a $1million home

    • Adem Assad, 31, renovated his first $324,000 property with his parents  
    • At 18, Mr Assad was working three jobs at McDonald’s, KFC and washing cars
    • He made $94,000 on his first house after spending $15,000 in renovations
    • The next year he made $65,000 after replacing the kitchen of a Melbourne home
    • He made $94,000 profit off his 12th home which he renovated for just $20,000










    A Melbourne man who flipped 12 houses by the time he was 30 is now living mortgage-free in a $1million home.

    Adem Assad, 31, had his foray into the real estate industry when he and his parents  renovated a $324,000 property in his late teens. 

    Mr Assad said growing up in a modest three-bedroom home in a family of seven is what drove his passion to succeed.

    By the time he was 18, Mr Assad was working three jobs – as a store manager at Subway, waiting tables at McDonald’s and washing his neighbours’ cars.

    Adem Assad, 31, had his foray into the real estate industry when he and his parents renovated a $324,000 property

    He made $65,000 after replacing the blue kitchen of a three-year-old home (pictured prior to renovations) in Craigieburn, in Melbourne's nort

    He made $65,000 after replacing the blue kitchen of a three-year-old home (pictured prior to renovations) in Craigieburn, in Melbourne’s nort

    Despite training to be a real estate agent after finishing year 12, Ms Assad admitted ‘just being the middle man wasn’t enough’.

    Mr Assad made $94,000 on his first house flip after forking out just $15,000 in renovations, including retiling the kitchen and ripping out the carpets.   

    ‘And I thought, this is something I can do instead of working three jobs,’ he told the Herald Sun

    The following year he made $65,000 after replacing the blue kitchen of a three-year-old home in Craigieburn, in Melbourne’s north.

    It was by complete chance that Mr Assad stumbled across his next property – a two-storey home in nearby Roxburgh. 

    ‘I didn’t intend to buy, I had been driving past (the auction) and I’d never walked into the home until that day,’ Mr Assad said.

    The 31-year-old, who taught himself how to renovate by watching YouTube tutorials, bought his 12th home which he completely restored for just $20,000. Pictured: after renovations on his Craigieburn home's kitchen

    The 31-year-old, who taught himself how to renovate by watching YouTube tutorials, bought his 12th home which he completely restored for just $20,000. Pictured: after renovations on his Craigieburn home’s kitchen 

    While turning flipping homes into a profitable side hustle, Mr Assad was still working during the day selling display homes. Pictured: Mr Assad's current Greenvale home he lives in

    While turning flipping homes into a profitable side hustle, Mr Assad was still working during the day selling display homes. Pictured: Mr Assad’s current Greenvale home he lives in 

    ‘I think the queen used to live there. Every room was gold and red, but I saw the potential. So I renovated the hell out of it. And that one opened my eyes: I made $218,000 in a year, profit.’

    While turning flipping homes into a profitable side hustle, Mr Assad was still working during the day selling display homes.  

    The 31-year-old, who taught himself how to renovate by watching YouTube tutorials, bought his 12th home which he completely restored for just $20,000.

    The property went under the hammer late last year and made him a cool $94,000 profit.  

    Adem Assad’s tips for beginners 

    Keep an eye out for high-demand areas in neighbourhoods you are familiar with

    Don’t buy a property you have an ’emotional connection’ to or would want to keep

    Make contacts for tradies as you go

    Hire other people to do hard physical work 

    Embrace your passions and get creative

    Advertisement

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Latest Posts