{"id":37681,"date":"2022-03-28T11:14:25","date_gmt":"2022-03-27T22:14:25","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=37681"},"modified":"2022-03-28T11:14:25","modified_gmt":"2022-03-27T22:14:25","slug":"my-rental-income-is-300000-a-year","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/my-rental-income-is-300000-a-year\/","title":{"rendered":"\u2018My rental income is $300,000 a year\u2019"},"content":{"rendered":"

PHOTO: The couple have gone on to buy or build 19 more homes since their initial purchase.<\/strong><\/p>\n

He arrived in Sydney with just two suitcases full of clothes \u2013 but now he owns 20 properties and is looking to buy more.<\/p>\n

\n

A Western Sydney couple are eyeing off early retirement after buying 20 properties across two different states worth a total of $7.5 million.<\/p>\n

\"SEXY<\/a><\/div>\n
\n
\n

Sexy real estate agents \u2013 FUN Instagram Page | sexy.agents<\/a><\/h2>\n<\/header>\n<\/div>\n<\/div>\n

Bharat Patel and his wife Vaishali bought their first home in 2010 and in the following years their property portfolio has exploded.<\/p>\n

They\u2019ve nabbed 17 more dwellings since then, as well as adding granny flats onto two existing properties.<\/p>\n

Since Covid-19 arrived on Australia\u2019s shores, the couple have doubled their portfolio, snapping up 10 houses and apartments in the last two years across NSW and Queensland.<\/p>\n

At the height of 2021\u2019s property craze, the couple actually inked in two property deals on the same day.<\/p>\n

\"support\"<\/a><\/div>\n
\n
\n

Support independent Australian news aggregation<\/a><\/h2>\n<\/header>\n<\/div>\n

For Mr Patel, he realised the power of property when he built a granny flat out the back of his Western Sydney home and started renting it out, which put extra money in his pocket.<\/p>\n

\u201cI was thinking \u2018wow this is good\u2019. If I could build another house I could get another income,\u201d the 40-year-old told news.com.au.<\/p>\n

One thing soon led to another.<\/p>\n

\n
\n
\n
<\/div>\n<\/div>\n<\/div>\n<\/div>\n
\n
\"Mr<\/div>\n

Mr and Mrs Patel more than a decade ago when they purchased their first property.<\/strong><\/em><\/div>\n

\n
<\/div>\n<\/div>\n

Mr Patel came over to Australia from India to study IT, with just two suitcases to his name.<\/p>\n

After finishing his studies, Vaishali joined him in Sydney and the two got permanent residency together.<\/p>\n

In 2008, during the Global Financial Crisis, the married couple were considering buying property.<\/p>\n

Mr Patel had always wanted his own home because, as he put it, \u201cRent money is dead money\u201d.<\/p>\n

But with the market spooked, they held off on purchasing a home and had their son instead.<\/p>\n

In 2010 they decided to break their way into Sydney\u2019s property market but it was a struggle.<\/p>\n

\u201cI was doing two jobs, one was in IT and then I was doing the fruit market at night,\u201d the dad recalled.<\/p>\n

His wife was out of work raising their son so the burden fell on him to earn. He would work 2pm to 10pm in a late afternoon IT shift, then 2am till 8am in the morning at the fruit markets.<\/p>\n

But the long hours paid off \u2013 in July 2010, the couple managed to put down a 20 per cent deposit for a $322,000 two-bedroom house in Doonside, western Sydney.<\/p>\n

\n
\"Mr<\/div>\n

Mr Patel graduated from UTS with a masters in IT.<\/strong><\/em><\/div>\n

Mr Patel acquired a building licence so that he could complete renovations himself, which shaved off half of the costs of building a granny flat, he said.<\/p>\n

Once the granny flat was done, he got a renter in there straight away, making the place positively geared.<\/p>\n

It took the new mum and dad several years to dip their toes back into the property market, not buying again until 2015.<\/p>\n

They repeated the formula that worked before, buying a house in western Sydney and adding another building out the back.<\/p>\n

This time, the couple had to use lender\u2019s mortgage insurance for the down payment.<\/p>\n

In the following years, the Patels used a combination of their savings \u2013 with Vaishali by this point running a successful childcare business \u2013 as well as lender\u2019s mortgage insurance and equity to purchase ever more properties.<\/p>\n

READ MORE VIA NEWS.COM.AU<\/a><\/p>\n

\n

MOST POPULAR IN NEW ZEALAND<\/span><\/h3>\n