Sydney property: Kumar family buy 13 properties across NSW, WA, Victoria
>
How an Unemployed Dad’s Jogging Habit Helped Him Build an Incredible Real Estate Portfolio of 13 Homes Now Worth $4.5 Million
- Sydney’s father and his family managed to buy 13 properties in six years
- They built up the real estate portfolio despite the father losing his IT job for six months
- The Kumars decided to go against the market trend and buy into the Covid crisis
- Despite having to sell cars to make deposits, they have a $4.5 million portfolio
<!–
<!–
<!–<!–
<!–
<!–
<!–
A Sydney family has amassed a real estate portfolio of 13 homes worth $4.5 million in just six years, despite the main breadwinner losing his job and having to sell cars to make deposits.
The couple’s decision to boldly go against the market trend means they are now charging over $5,000 a week in rent, which easily covers their mortgage payments and leaves them with some cash.
Mahesh Kumar and his wife Uma, who are in their 40s and have two young daughters, had just $54,000 in savings when they ventured into the Sydney real estate market in 2016, news.com.au reports.
Kumar said his habit of jogging in the early morning – listening to investment podcasts – had made him a real estate expert.
“I followed YouTube videos, I jog in the morning and I just listen to podcasts,” he told the publication.
A bold strategy to face the Covid crisis has resulted in Mahesh and Uma Kumar delivering 13 properties worth an estimated $4.5 million
They scraped together the 10 percent down payment on a three-bedroom, $546,000 house in Sydney’s western suburb of Liverpool with the help of a mortgage insurance company.
In November 2019, Mr Kumar outlined what would turn into a real estate buying frenzy, amassing 12 properties in less than three years, even though he lost his job during that period.
The Kumars’ second property was a $220,000 house in Southport, Queensland, which they quickly followed with a $160,000 purchase north of Brisbane.
However, it was when the Covid pandemic hit that Mr Kumar was able to quickly double his real estate portfolio, with his thinking validating the special forces motto ‘He who dares wins’.
“If everyone is afraid, now is the time to buy,” Kumar said.
Kumars’ first purchase was this house in Sydney’s western suburb, Liverpool, which they bought in 2016 for $546,000
Even when Mahesh Kumar lost his IT job due to the Covid pandemic, the family continued to buy real estate
Buying is what he did, taking four properties when their values were low in regional NSW, Queensland and WA.
However, the Kumars must have thought about their plan in 2021 when Covid cost Mahesh his job in IT, although Uma continued to work in community services.
Incredibly, even during this time, the family continued to expand their real estate portfolio, purchasing two more homes.
But their urge to buy more houses meant sacrifice in another part of their lives, selling the family car to make a down payment.
In just six years, the Kumars have built a real estate portfolio spanning NSW, Queensland and WA
The family has since both bought and sold cars when money was urgently needed to expand their holdings.
After six months of searching, Mr. Kumar got another job and the family has barely wavered to continue acquiring real estate.
This year alone they have added four properties, with their titles spread across NSW, Queensland and WA.
Perhaps ironically, the only house the Kumars don’t own is the one they live in, which is rented out.
Mr Kumar says the family’s goal is to own 25 properties, one of which the family will occupy and eventually call their home.