Give that man a beer: Jobless dad owns 13 properties

PHOTO: Mahesh Kumar and his wife Uma

Despite losing his job in the pandemic, this Sydney dad has a property portfolio worth $4.5 million which he’s grown over the last two years.

An ordinary Australian family have accrued 13 properties to their names spanning across three different states.

Mahesh Kumar and his wife Uma, 41, have amassed more than a dozen houses in their portfolio, the majority of those over the last three years.

The Kumar family, from western Sydney, managed to do so despite the main bread winner losing one of their jobs in that period of time and having to sell their car to make up the deposit money.

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Mr Kumar credits part of the family’s success on his morning jogs, where he listens to investing podcasts and was able to launch his property journey with just $54,000 in his pocket.

“I followed YouTube videos, I jog in the morning and I just listen to podcasts,” he told news.com.au.

The dad-of-two says the family now makes more than $5000 a week, which covers their mortgages and then some from the cashflow positive properties.

His 13 properties are worth $4.5 million in total, according to the latest valuations.

The Kumar family have a vast property portfolio.

The family bought their first property in 2015.

The property in Southport, Queensland.

Mr Kumar started with the intention of buying a home for the family but now rents while reaping the rewards from his positively geared properties.

He works in IT while his wife is in the community services industry. Between them, they pooled their cash and snapped up a 3-bedroom house in 2016 in the Sydney outer west suburb Liverpool.

The house cost $546,000 and they put forward a 10 per cent deposit as well as lenders mortgage insurance to cover the rest.

For the next three years the family lived there, but Mr Kumar wanted to expand his horizons and jumped back into the property game in 2019.

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Between then and now, he has bought a further 12 properties.

In November 2019, the Kumars purchased a house in Southport, Queensland, for $220,000 and the next month, they also snapped up another Queensland property in Kallangur, north of Brisbane, for $160,000.

The Covid-19 pandemic hit several months later and like many people, the Kumar couple took a break from the market, but then they had a light bulb moment.

“When everyone is scared, that is the moment (to buy),” he explained.

He ended up buying four properties in 2020, in regional NSW, Queensland and Western Australia, and their market values have gone up considerably after the boom the following year.

But a year later, the Kumar family hit a roadblock when Mr Kumar lost his job.