Aussie real estate mogul, 33, who owns 110 properties shares the 'four golden rules' he swears by - and the capital city to buy in now

House prices and the ongoing fear of rising interest rates hasn't deterred real estate mogul Eddie Dilleen from snapping up another 10 properties in the last six months - and he firmly believes anyone can still get into the market.

The 33-year-old from Sydney , who grew up in housing commission with his mum, has 110 properties to his name worth an eye-watering $90million and rakes in $50,000 a week in rent.

Since buying his first unit at 18 he's 'learnt how to play the game' and built his impressive portfolio. Today the father-of-two has 35 properties in Perth , 50 in Brisbane , 15 in Sydney, eight in Adelaide and two in Melbourne .

And he doesn't plan to stop anytime soon, with hopes to clock up 2,000.

Eddie told FEMAIL there's four 'golden rules' he swears by that others can use to follow in his footsteps: buy under market value, purchase in metropolitan areas and ensure the rental yield is at least six per cent.

He also buys in locations others are avoiding - a strategy referred to as 'contrarian value investing'.

While many young Australians might consider owning multiple investment properties as 'unethical' or 'greedy', Eddie says landlords like himself aren't the problem when it comes to house prices.

Eddie said he tends to buy in areas that aren't in hot demand to get the best price.

Earlier this month reports highlighted Melbourne house prices have fallen by 1.1 per cent.

With a median house price of $929,715, Melbourne is now Australia's fourth most expensive capital city market for a home with a backyard, despite being Australia's second most populated city.

Rather than avoiding the capital city, the property price drop and influx of units has sparked Eddie's interest.

'I believe Melbourne is undervalued as a whole market in itself. Everyone is basically running away, which is one reason why prices are dropping, and I see that as an opportunity,' he said.

'I did the same thing in Queensland, Adelaide and parts of Sydney years ago and now those markets are up.'

One of his most recent purchases in the Melbourne CBD was a one bedroom apartment bought for $327,000.

He explained how the market operates in a 'cycle' and at the moment Victoria is at the lowest point whereby prices are down and are likely to rise again in future - posing the perfect opportunity for buyers.

As for those who criticise his strategy, Eddie said: 'You can't hate the player, it's the game itself. The system is rigged.

'Either learn how to play the game and do the best you can or say it's too hard and don't do anything. If it's not you, it'll be someone else.

'And if you don't allow landlords at all, that just makes everything ten times worse. You actually need landlords.'

As for the current market, Eddie said Australians can still get in with the right strategy - and his one piece of advice is to 'act now'.

Even with the current sky-high interest rates.

'Yeah everyone is scared of interest rate rises including me but I do it anyway,' he said, although mentioned his rental income helped cushion him from that.

However, he pointed out it depends on the situation.

For instance, the average person on $70,000 a year wouldn't be able to afford a $4million dollar property in Bondi.

Instead Eddie endorsed rentvesting which involves living in a desired area and buying an investment property elsewhere.

Currently in NSW there's apartments and units available in Sydney's west for as little as $370,000.

But those who aren't eager to rentvest may require a lifestyle change away from popular areas, such as the eastern suburbs.

Under the right circumstances, Eddie is confidence Aussies can buy their first two investment properties in just one year.

'It is possible to buy with a five per cent deposit ... I started off with a 10 per cent deposit when I was 18 years old,' he said.

To assist others he's written another book titled 'How to Buy 10 Properties Fast' .

He recommends trying different lenders and mortgage brokers to maximise your borrowing capacity, be creative and persistent, and educate yourself.