The couple shares the know-how of owning 8 properties before 40
Arvinder Dhanota and her husband were only 28 to 30 years old when they bought the first Australian property, but seven years later they owned eight homes worth $ 3.8 million.
Dhanota says that although the two have worked hard to build their dream of real estate, the process is relatively straightforward. Her husband, Kulwant Singh, said they had “teamed up” together to build their portfolio as a team.
Dhanota bought his two bedroom apartment in Bankstown in Western Sydney in 2009, while Singh bought a two bedroom apartment that same year in Liverpool. They migrated to India from India in 2004 and got married six years later. And in the same year, they bought their first apartment – another two bedroom apartment in Liverpool.
They then sold the apartment and continued to buy a two bedroom apartment in Blacktown in March 2013 and a 4 bedroom house in Glenwood in September 2013.
In May 2015, they purchased a two-bedroom unfurnished apartment in Kingswood, and in June 2016 bought a 508-square-meter building in Melbourne – this was their only purchase outside of Sydney.
Their most recent purchase was a three-bedroom house in Whalan, West Sydney, in August 2016. At this time, Dhanota is 35 years old and Singh is 37 years old. Their first Bankstown apartment recently sold for double the purchase price. They are planning to sell their Melbourne unit and Kingswood apartment this year.
If they get a good price for them, they will spend the money to spend on their Glenwood home and turn it into a long-term family home. The couple said total profits would have to pay off their home mortgages, and if that happens, they plan to travel around the world in six to twelve months.
Ms. Dhanota said the decision to invest $ 200,000 in her first apartment has yielded. “If we send $ 200,000 to a bank instead of buying a house in 2009, we will not be able to double our money for eight years,” she said.
“Even when the market goes down or really collapses, we are still quite confident that we will still get back the money we have spent to buy Australian property.” Dhanota said one of the key To their success is to buy real estate at a good price from the beginning. They have some simple tips for potential real estate investors.
Singh said: “Just start by buying a cheap apartment – something really basic, even just one bedroom – just buy, renovate and rent, and then build. Raise your portfolio gradually over time.”
“Do not set too high a goal early on because there is no reason to have a million dollar loan for your first property, because it will be very difficult to repay,” Dhanota added.
“The location of the property is important, and remember, it is easy to rent an apartment if it is close to public transportation and to the university. We have been in touch with a lot of people who have been waiting for the Australian real estate market to go down over the years before buying, and that never happens.”