29-year-old failed cricketer claims to have ‘cracked the property code’

PHOTO: Now 29, Sanjay Parasher is a podiatrist with 37 homes. Picture: Sam Ruttyn

A 29-year-old individual who faced a setback in his cricket career and ventured into amateur modeling has made a significant mark in the Australian housing market by amassing 37 properties valued at $13 million over a span of three years. Sanjay Parasher, once a promising bowler at the state level in cricket, had his dreams of a professional sports career dashed due to an ankle injury. He subsequently explored modeling and dabbled in a social media business. At the age of 24, he embarked on a new path by becoming a podiatrist and establishing a foot and ankle care business, as revealed in an interview with The Daily Telegraph.

https://propertynoise.co.nz/au/jackie-os-unconventional-revelation-following-her-13-million-mansion-acquisition/

Parasher’s journey has led him to build an extensive property portfolio, comprising 37 homes scattered across New South Wales (NSW). Remarkably, one block of units alone generates a net cash flow of $2,500 per week after accounting for mortgage and other holding expenses. Parasher is now contemplating further property acquisitions, challenging those who criticize his multiple purchases at an age when many of his peers struggle to afford even one property. He attributes his success to a particular mindset and encourages others to educate themselves about the market, emphasizing the importance of self-awareness regarding one’s knowledge.

A key factor contributing to his achievements is his strategy of purchasing properties through a dedicated company established for real estate investments. This approach has enhanced his borrowing capacity significantly. Parasher also highlights a crucial revelation that allowed him to acquire numerous properties: the ability to secure commercial loans for certain types of residential properties. Approval for these commercial loans was contingent on the rental income generated from the properties, rather than solely relying on his personal income. This approach allowed him to continue obtaining loans from banks, provided that the properties yielded substantial rental income compared to mortgage repayments.

https://propertynoise.co.nz/au/when-the-last-name-fits-real-estate-agency-owner-charged-with-sex-drug-offences/

Parasher cites an example of his second property, which appreciated by approximately $1 million in just ten months, with rental income exceeding $100,000 annually after accounting for mortgage costs. He acknowledges that his financial situation as a podiatrist is exceptional, mentioning that he earned a pre-tax income of $1 million in a single year. He struggled to secure interviews for job applications after completing his degree at the age of 24, leading him to establish his own business and establish connections with general practitioners. He now offers premium services, collaborating with surgeons on intricate cases, and channels most of his income into property deposits, a practice he initiated in 2020. Many of his properties are rented out on short-term platforms like Airbnb to maximize rental earnings, and none of them are negatively geared. Parasher’s first property acquisition was a dual occupancy house in Wollongong, purchased for $665,000 in November 2020. Subsequent acquisitions include two blocks of five units on the south coast, one acquired for $1.8 million and the other for $1.64 million in 2021. Additional purchases comprise a block of six units on the south coast, a house in Wollongong for $822,000, a block of ten units in collaboration with a joint venture partner, and, in the current year, a block of eight units. Approximately 60 percent of the total value of his property portfolio is financed through debt.

https://propertynoise.co.nz/au/erica-packer-completes-the-handover-of-her-vaucluse-residence-valued-at-4-3-million-to-her-sister-joanna/