PK Gupta, a second generation immigrant, shares how he acquired 12 properties worth $8million by the age of 32 and had most of the deposit for the first property saved while still at university.
After PK’s parents moved to Australia from India so he could attend university, he met his now wife. They shared a goal of not wanting to be trapped in 9-to-5 day jobs and dedicated themselves to raising funds. During holidays, they worked picking fruits or doing summer internships with major firms. They saved every cent, even after entering the finance industry.
Despite being Brisbane locals, a lot of research led to a three-bedroom house in East Gosford, NSW catching the couple’s eye. PK says they bought it for $320,000 without ever seeing it. Instead, they had a property manager inspect several homes for them for free.
PK continued to apply his analysis to unearth other opportune markets. He says that first property went up $40,000 in value in the first year. They now have properties in Brisbane (QLD), Frankston (VIC), Newcastle (NSW), Cairns (QLD), Burnie (TAS), Gold Coast (QLD), and Townsville (QLD). The most lavish might be a home near the Taj Mahal, purchased for $480,000 (now valued at $600,000).
“Investing in markets across the country is entirely achievable for the average
Australian,” says PK. He is now keen to educate others on the investment game and shares his top five tips to break into real estate:
- Set goals and focus on achieving them: Have goals and drive towards them wholeheartedly. Their first deposit was hard work but the commitment paid off in huge dividends.
- Treat all of Australia as an opportunity: Don’t limit yourself to investing where you live. Apply your analysis to every location in the nation. You’ll get the chance to select from the very best suburbs for gains.
- Invest by numbers, not emotion: The most important thing is understanding how to analyse the available data. Using the right metrics and applying them correctly will have areas of opportunity for growth and great rental returns reveal themselves.
- Ask property managers for help: Local property managers are professionals who are happy to help you if you give them your management. They are an extraordinary pool of untapped guidance.
- Get educated: Being educated in a systematic, data-led way is crucial so you aren’t led astray by misinformation or biased agendas.
These five points can help you build passive income by remotely acquiring properties interstate with minimum fuss.