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
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
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.