Indian-origin man owns 23 properties worth Rs 226 crore but lives in a rented home; know why

Despite owning homes nationwide, Sharma rents a three-bedroom penthouse in Macquarie Park, Sydney, where he lives with his wife. The rent? Nearly $1,420 a week. His decision is rooted in a strategy known as rentvesting, a growing trend where investors rent in suburbs they want to live in, while purchasing properties in more affordable areas purely as investments.

Sharma’s real estate journey began early. At just 21, he bought his first property, a three-bedroom house in Dubbo, for $190,000. Over the next decade, he steadily expanded his portfolio, buying properties in different parts of Australia and leasing them out.

Sharma explained that purchasing a home to live in Sydney would have required a massive deposit, locking away capital he could otherwise use to keep investing. “While the idea of not having to pay rent sounded attractive, having all that money tied up in an asset that wasn’t going to perform just meant that I had no choice,” he said. There were also practical considerations. Selling a home later could mean taking a hit due to costs like stamp duty, which would eat into returns.

Beyond property, Sharma has built a personal brand around finance. He was named Australian Business News Young Entrepreneur of the Year 2024 in Property and Construction and runs a YouTube channel, Personal Finance with Ravi Sharma, which has crossed 1 lakh subscribers.