{"id":42847,"date":"2023-04-17T11:32:10","date_gmt":"2023-04-16T23:32:10","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=42847"},"modified":"2023-04-17T11:32:10","modified_gmt":"2023-04-16T23:32:10","slug":"just-like-a-video-game-property-investor-reveals-secrets","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/just-like-a-video-game-property-investor-reveals-secrets\/","title":{"rendered":"\u2018Just like a video game\u2019: Property investor reveals secrets"},"content":{"rendered":"

PHOTO: Property investment. Image<\/a>\u00a0by\u00a0rawpixel.com<\/a><\/strong><\/p>\n

A property investor who owns eight houses revealed how anyone can make themselves a multi-millionaire with just $60,000.<\/p>\n

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An immigrant who acquired eight homes in 16 years has revealed how an everyday Australian can build their own property portfolio with as little as $60,000.<\/p>\n

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Property investor reveals how to become a magnet for money<\/a><\/h2>\n<\/header>\n<\/div>\n<\/div>\n

Sydneysider Lakhwinder Singh commenced his\u00a0investment journey a few years after arriving in Australia\u00a0as a 21-year-old exchange student with only $1800 to his name.<\/p>\n

After overcoming homelessness, acquiring citizenship and relocating his family from India to Australia, the father-of-two launched his property-buying journey beginning with the family home.<\/p>\n

In less than two decades, Mr Singh became the proud owner of multiple investment properties located across four states, collectively valued at $4.5 million.<\/p>\n

Now, he is sharing his secrets to success to help inspire others to dip their toes into the property market as Australia\u2019s housing affordability crisis continues.<\/p>\n

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From homeless teen to property investor<\/a><\/h2>\n<\/header>\n<\/div>\n

The most common question answered<\/b><\/p>\n

With the cost-of-living and rising interest rates on the mind\u2019s of most prospective buyers, Mr Singh told news.com.au the most frequent question he is asked is \u201chow much money is needed to start a multimillion dollar property portfolio?\u201d.<\/p>\n

Well, the answer may just surprise you with the value not even close to tipping the six-figure mark.<\/p>\n

While most people save up to $100,000 cash or equity from current investment properties, Mr Singh revealed investors only need three-fifths of that figure.<\/p>\n

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\u201cProperty investment can be started with as low as $60,000 to buy a $350,000 property,\u201d Mr Singh said. \u201c(That value) can cover the deposit and all other buying costs.\u201d<\/p>\n

He added this value will be enough to build a multimillion dollar portfolio within five years of purchasing the first home with no extra personal cash contributions required.<\/p>\n

With the mean cost of dwellings in Australia around the $880,000 mark for the December 2022 quarter according to the Australian Bureau of Statistics, Mr Singh said it\u2019s easy to believe why a $60,000 deposit wouldn\u2019t be enough.<\/p>\n

\"Ramada<\/a><\/div>\n
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However, with the right planning and by purchasing a home in a suitable location, the property investor revealed by sharing his own portfolio that a $60,000 deposit is more than adequate.<\/p>\n

What makes a strategic portfolio?<\/b><\/p>\n

Mr Singh said there are five \u201cdata points\u201d a property investor should consider before purchasing a rental property which will enable them to get more bang for their buck.<\/p>\n

The first rule of thumb the\u00a0Value Buyers\u00a0founder lives by is purchasing a home that has a significant block of land.<\/p>\n

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\u201cWhen selecting a house as an investment, 70 per cent or more of your funds should go towards buying the land component of the property,\u201d Mr Singh said.<\/p>\n

For those interested in a unit, villa or townhouse, that \u201cland to value\u201d ratio is reduced to 60 per cent.<\/p>\n

\u201cYou can work out the land to value ratio by collecting data on sold land in that area,\u201d he said.<\/p>\n

\u201cWhere possible avoid off the plan properties as most of those don\u2019t qualify under this rule.\u201d<\/p>\n

Secondly, Mr Singh advised investing in a home that has a \u201cfamily friendly appeal\u201d. This may include the property being close to schools, shops, parks and swimming facilities.<\/p>\n

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\u201cFamilies are emotional buyers and will pay top price when you sell \u2026(Also look for) markets with renter proportion under 30 per cent as higher renter proportion can indicate rougher area,\u201d he said.<\/p>\n

Another piece of advice is to take notice of \u201cX factor properties\u201d or dwellings that stand out from the crowd. This may include properties on a subdividable piece of land, houses with side access, and those that may need cosmetic renovations.<\/p>\n

Mr Singh said sometimes these unusual properties are put on the market for longer at a lower price as buyers can\u2019t identify their growth potential.<\/p>\n

The fourth data point is to keep an eye on demand versus supply, with the property investor advising buyers to avoid properties where there is an \u201cimbalance\u201d in the market as prices are typically higher.<\/p>\n

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In saying that, such imbalances can be a great opportunity for investors who have a property in the area they\u2019d like to sell.<\/p>\n

Finally, investors are encouraged to pay attention to rental vacancy rates which could suggest how quickly an investment property will be snapped up by tenants.<\/p>\n

\u201cThe vacancy rate is a good indicator to help us understand how much stock is in the market and how quickly our property will be rented,\u201d he said.<\/p>\n

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Mr Singh acquired eight properties in 16 years. Picture: Supplied<\/strong><\/em><\/p>\n

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One of Mr Singh’s West Australian investment properties. Picture: Supplied<\/strong><\/em><\/p>\n

\"Mr<\/div>\n

Mr Singh with his wife Kuljit Kaur, 18-month old son Harvey Singh and six-year-old son Kohinoor Singh. Picture: Supplied<\/strong><\/em><\/p>\n

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

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