In this episode, Bharata guides us through the journey of how he transformed rejection into opportunity, turned laziness and harnessed it into unwavering determination, ultimately paving the way for him to become the high achiever he is today.

Timestamps:
01:04  | Bharata’s Journey
02:32 | A Day in the Life of Richard Bharata
04:18 | The Land of Opportunity
05:52 | Fearless and Independent
07:53 | From Laziness to Determination
09:10 | Gaining Perspective
10:43 | Bharata’s Quest in a Tough Market
13:20 | From Unpaid to Unexpected Sydney Interview
15:51 | Turning Rejection into Opportunity
18:57 | Independence Forged from Family
19:55 | Building a Foundation in his Career
22:51 | From Construction to Procurement
26:00 | Pandemic Ignition

 |

01:04 | Navigating the First-Time Home Buyers Maze
05:42 | Perth’s Property Boom
08:39 | Two Years, Eight Properties
09:37 | From Gaming Frustration to Property Triumph
14:12 | Mastering the Market
15:11 | Aha Moments
18:26 | Chasing Financial Independence
20:30 | Tech-Enabled Mentors
21:58 | Time, Your Greatest Resources
24:06 | Reflecting on the Past, and Plans for the Future
26:00 | The Perfect Harmony
 
Resources and Links:

Basically, all the small businesses [were] closing. Just to find a job, I had to knock on the doors in the office industrial area [and] just drop my resumes.

This is Property Investory where we talk to successful property investors to find out more about their stories, mindset and strategies. 

I’m Tyrone Shum, and in this episode, we’re speaking with Richard Bharata, who by day is a project manager, and by night, he is a savvy buyers agent. He shares his journey from Indonesia to Australia and reveals how he built a property portfolio in just two short years. Get ready for Bharata’s captivating stories of resilience, and unwavering determination for success. 

From being a young boy in Indonesia to becoming a successful man living in Sydney, Australia, Bharata describes his multifaceted journey with gusto and shares how he pursued his passion. 

I'm Indonesian but grew up in Perth, [and] I’m currently [living] in Sydney. When people ask me what I do, I like to tell them I'm a buyer's agent. But by trade, I'm actually an engineer and [in] project management. But ultimately, my passion is in property and I want to be a buyer's agent full-time. 

I came to Perth when I was about 11- [or] 12-years-old. So that was [when] you are starting Year 7. [I] came to Australia, [and] lived with my older brothers and my uncle. 

Tyrone Shum:  

Yeah. 

Richard Bharata:  

Yeah, so that was a long time ago. I did high school over there and finish[ed] Year 12. I [did] University at Curtin University [and] graduated. But [I] couldn't find a job in Perth because I graduated during a time when [the] mining [industry] was not doing really well. 

It's funny [because] when I was at university [during my] second [or] third year, everyone was saying, 'Oh, it's going to be easy to find a job here and there', but that wasn't the case. So I couldn't find a job in Perth [and] ended up finding a job in Sydney, and that's how I relocated here. 

Wonderful.  

[That was] about six, seven, [or] eight years ago.

While most people work a typical 9-to-5 job, Bharata diverges from the norm by dedicating his evenings to pursuing his passion for property as a buyer’s agent. 

I wake up around 7:00 [a.m.] or 7:30 a.m. because I [go to] sleep pretty late. [A] typical day-to-day [for me] will look like [this]. [I] wake up, take a cold shower, get ready to go to [the] site—if I'm working on-site—and [then] drive for about 45 minutes or 1 hour. And then listen to podcasts like yours or every other mindset or property podcast. 

And then I'll basically do my project management job. I take many breaks in between just [to] do all what I need to do [to] sort out my buyer's agent business on the side. And then [I] normally leave [the] site at around 5:00 [p.m.] to 5:30 [p.m.] ish. And again, drive back home; about 45 minutes, [and] listen to another podcast. 

Back home, I have dinner with my wife and have my coffee; because that's when to me, that's when the real day starts. Because I take half an hour to an hour break, watch YouTube here and there, take my coffee and then from about 7 o'clock to 10 [p.m.] – 11 [p.m.], sometimes [as late as] 12:00 p.m. at night, that's when I do my research, do calls with clients and repeat. 

Wow. So you're literally running two full-time jobs, more or less?

Richard Bharata:  

Yeah, [although] the second one doesn't feel like a job, to be completely honest. It gives me a lot of energy. I'm sure you, running a really good podcast, can relate. 

Knowing that Australia could offer great opportunities, Bharata’s parents devised a means to enable their sons to reside in Australia, and when the right time came, they strongly encouraged them to make the move. 

Richard Bharata:  

I think this is me really appreciat[ing] my parents. They knew Australia is a land of opportunity. So they're already businessmen, business people, both mum and dad. They run a contracting business in Indonesia, but they want[ed] their kids to be in Australia. 

So what they did is they bought a property back in the '90s to get the debt, you know, through the visa requirements back then. And it's basically because my parents told me to, and Perth is the closest city in Australia to Indonesia. So that's why I was there.

Wonderful. So, coming to Australia, did you come with a whole family, or was it just yourself that came here to study?

Initially, my three older brothers were here first, and then I joined them. Because I was doing really bad back in Indonesia like I almost, I don't know how to say it, but basically, I almost failed Year 7. That might sound weird, but it's a thing in Asian countries, you can actually fail Year 6 [or] Year 7, like, you know, and then my parents thought, let's just bring him to Australia, you know. Yeah, so that's, that's what happened. So my brothers first lived with my uncle, and then I joined them.

Making this bold move at a young age to a foreign country and without the presence of his parents, Bharata surprisingly didn’t feel fear. His parents were frequently caught up in their demanding work schedules, leaving him to navigate life independently. 

We traveled like to China to Hong Kong, but not much, to America as well. But that was my first time like actually moving to Australia and being far away from my parents. 

It didn't feel too weird, to be honest, because my parents are both very busy; they're both working. And I never really, yeah, they're working too late, and they're really hard workers. So when I was by myself in Jakarta, because my brothers were all already in Australia, and when I came to Australia, it felt the same. You know, like, you know, just live. 

Tyrone Shum:  

So [it] sounds like you had more time with your brothers than your parents at this point in time.

Yeah, my third brother especially because we went to the same high school. He's three-years older. 

Interesting. And which part of Perth were you living in, during that time?

Many places. So when I first landed, I was in Winthrop Melville, so a suburb of Winthrop, which is next to Melville. [I] went to Melville Senior High School. And then, we moved to Jindalee up north because that's where my mom bought the land back in [the] '90s. So they had a house there. And then moved down to Canning Vale [to] my brother's house. So he bought that house there in 2008 or 2009. And then to Canning Vale again. So my parents bought another house there in Canning Vale. 

It's amazing because I've been to Perth about a few months ago, and it was just amazing how beautiful it is. It's sort of like the hidden gem of Australia. A lot of people don't realize it, but you're so close to the ocean that everywhere you drive is pretty much water. And the fuse is running.

Richard Bharata:  

And very affordable. 

At the start of his journey at Melville Senior High School, Bharata’s performance lagged behind that of his peers; nevertheless, through great resilience and determination, he managed to bring about a substantial transformation. 

Richard Bharata:  

I was really lazy back then, you know. I'm one of the laziest people. But then I normally bounce back really quickly—like when I realized I stuffed up so much, I really bounced back. So that's exactly what happened with me. I was really lazy [in] Year 8 [and] Year 9 until the end of Year 10, where I didn't know what to do, and I did see my peers. Like they are doing really well at high school taking all the, you know, the science subjects physics, chemistry, all double math, you know, here and there. And I couldn't even take anything. 

And then I sort of, it's like a slap on the face at that time. I still remember, and I sort of told my teacher, 'Look, I promise I'll do well in Year 11'. And I did, I studied really hard, easily five [to] six hours in Year 11 every day. And I became the, you know, like not the top one, I wish but top two in my in at the end of Year 12. 

Congrats. 

For the whole Year 12. So yeah, that pattern seems to be repeating in my life throughout university. 

Residing in both Indonesia and Australia has enabled Bharata to observe differences in the lifestyles offered in these countries and thus develop an appreciation for the opportunities granted to him in Australia.  

Jakarta is very different. I think it's a city with a population of almost 20 million. 

That's the equivalent of Australia itself. 

You think Sydney is crowded, wait before you go to a country like that, like a city like that. So people everywhere; a lot of motorcycles. And this is just what's on top of my head right away. A lot of pollution, and most people spend their time inside a giant shopping center. 

You don't have the lifestyle like you have in Australia where you can just, well you do, but the weather is much better here in Australia. Down there it's humid and all that stuff. So just what I remember, yeah, and it's [a] very hot, tropical country. So yeah, growing up that's how I feel. 

And there's a lot of people on the streets, it really changed your perspective, because I think I heard from another podcast [that] if you live in Australia, you're already top 1% [of the] most wealthiest people in the world compared to like other countries and, and I can truly agree with that. Because from what I see in a city like Jakarta, like so many people probably earn $2 a day, you know, but they're smiling. They're happy. And you know, so that's yeah, that's a big difference.

Despite his brother working in the same career field with numerous job opportunities to choose from, Bharata found his job search experience exceedingly challenging. 

My background [is] a civil and construction engineer. My brother did this; he's seven years older than me, and it was really easy for him to find a job. So I did four years of engineering degree, [and] that's how long it took back then, now [it takes] five years [to complete the course]. But basically, in his second year or third year, mining companies, like Rio Tinto, [were] looking for undergraduates, you know, [as they were] actually hungry for professionals right during the mining boom. 

But it was the total opposite during my time. Basically, all the small businesses [were] closing [down]. Just to find a job, I had to knock on the doors, like in the office industrial area [and] just drop my resumes. Everything was closing like, all chained up, [and] that was only in 2015, so not long ago.

Isn't that sort of the time [they] staffed the sort of the mining boom and also was it 2014 because I think that was the peak of the boom or just before that the boom sort of just slowed down during the residential market. So, therefore, that's why a lot of people were moving out.

I am one example, you know. I moved to Sydney, and then just three, four or five months later, my girlfriend back then followed me and then like 10 other friends that I knew followed me. Like just a lot of migration.

After completing university, Bharata secured an unpaid position at a Perth-based company. However, driven by his eagerness for job opportunities, he persistently applied for positions elsewhere, ultimately leading to an unexpected and surprising interview in Sydney. 

Richard Bharata:  

I was hungry for jobs. So I did find a job in Perth, unpaid, and nothing to do anyway. So I just sit there, you know, talk to people. People were getting redundant, slowly. It was basically an Australian company bought by a Chinese company. And it's a dying company. So that moved there. But what I did in Perth was [that] I was applying for jobs everywhere. That's what I did. 

And yeah, long story short, I ended up getting an interview in Sydney. And it's funny how I got it. Basically, I used my friend's address when I applied for the job because I kept getting rejected. I think [the] Sydney companies probably thought, oh he's based in Perth, like, yeah, go away. And then one of my friends told me [to] just use, you know, your other friend's address, they're already in Sydney anyway. And I did, and bam, like in one or two days, I got interviewed, like, they called me for an interview, right? 

Yep. 

And what's funny is, at that time, I didn't know that it was for a job in Sydney. And then they are saying, can you come tomorrow for an interview in the suburb called Kings Park, which is in Black Town. I don't know if you know. But at that time, I was like Kings Park because there's a big botanical garden in Perth called Kings Park. 

Oh.

I don't know if you visited that. It's like it's the biggest botanical garden in the world actually called Kings Park. 

Was it in the main part of Perth?

Yes, yes in the city.  

Oh, then probably did. Yeah, because I did go and visit the Botanical Gardens.

Yes, then I was like, having an interview there that sounds weird. But because I was so desperate, I said yes right away. And in no magic on Google Maps, the actual address [was] 42 hours to drive to the office. So I was like, oh, no. And then I realized it was for Sydney. But you know, when you really want something really badly, you will make it happen. Obviously, I didn't drive, but I quickly booked a flight the next night and flew there with, you know, a few clothes here and there. And yeah, so that's, that's the beginning of my story.

Despite being rejected for that job position, Bharata didn’t let this event crumble his spirits. Instead, he took this as an opportunity to continue to seek employment, and this was beneficial. 

I still remember back then. Every morning, I was checking my phone because. So basically I didn't get the job, which I was interviewing for. So what I did was, and I'm sharing this because I think people can learn from it. What I did was I went to the interview anyway, and brought my resumes—like 20 of them. 

Yes. 

Richard Bharata:  

And then while I was in the area, I dropped my resumes anyway to other companies. And then last minute, I did see a banner, like a company banner, there is a building with the banner. And then it says the company basically, and then I thought, yeah, maybe I'll send a text message because there's a phone number in that company [banner]. And then I'm saying I am a graduate, I'm looking for [a] job, you know, I'm hard working, blah, blah, blah. 

And then, funny story, I got another interview with that company. And you know, and this is after like two–three hours dropping resumes everywhere. And that's where I ended up getting the job, you know, like with that company, actually. 

Because it goes to show, you know, you got to hustle sometimes, like some people might have just gone there and just taken pretty-much that interview and headed home going, Oh, well, that's it. But you actually took that extra action step to actually go, okay, I'm going to take more initiative too, you know, since I'm here, I might as well make the most out of it. I think that's a great entrepreneurial spirit that you've got there, which I think is really, really beneficial. Especially not just only for what you did for interviewing for a job, but for businesses, for property [or] for anything.

I think that's a good example of [the] synergy between luck and hard work that you always ask. So I was lucky that [the] banner was there; it has been 15 years [since] that banner they just didn't want to put it down. And then I worked hard and I sent a text message and I got the job. Yeah.

Being able to embark on this new journey in Sydney, Bharata left his old life behind and hasn’t looked back.  

Richard Bharata:  

My girlfriend back then, you know, she obviously [was] really good. And she brought some of my stuff. She followed me [to] Sydney because she was already working at HSBC. So, you know, global company, you can be anywhere. I haven't been back since. I did go back once, but only for like two days for a friend's wedding. But that's it. It's been eight years.

So basically, from that time when you flew from Perth to Sydney, you just basically stayed there from that point. Is that what happened? 

Yeah, yeah. 

Wow, that's great.

I didn't even say goodbye to anyone, like, I was gone the next day. 

I thought you were just there for the day. So basically, you landed in Sydney, and then that was it. 

Yeah. 

Tyrone Shum:  

Did you go find accommodation? Did you start, you know, getting yourself set up? Did you have any family, even in Sydney or friends?

No family, but yes, friends. So my best friend [lived there] so he let me stay in his place in Chippendale. Really nice area, like wow. Have you been there?

Yes, I know Chippendale very well. 

I was really impressed. Yeah, I stayed there for a good five–six days when I got the good news that I got a job. That's when I started looking for accommodation for the first time ever, never rented before. 

Due to the busy lives that his parents had, Bharata had to experience some important moments without their presence—consequently shaping him into a highly independent individual. 

I can't speak for others. But I do think I am [a] very independent person, even from [a] very young age from Year 7 [and] Year 8.

Yeah, I can totally relate to you because that's what happened in my growing up as well, too. And my parents were very busy, always working. They probably [would] only pick me up from school, drop me home, then back to work again. So [I] end[ed] up finding all sorts of different things to do, either good or bad.

Yeah, sadly they didn't even come to my high school graduation. 

Tyrone Shum:  

Oh, no. I am sorry to hear that. 

Richard Bharata:  

I didn't feel sad at all. And you know, I was like, I told you [I was one of] the top two in the whole high school. I didn't feel sad at all because that's how I grew up. My older brother did come. 

Yeah, it seems like, as we all grew up, we'll probably [be] closer to our siblings than our parents by the sounds of it. 

Yeah, definitely. 

Bharata started his career in Sydney at a challenging construction company, where he had to endure long days for modest pay, and even once he had completed a demanding 23-hour shift. 

Yeah, so in Sydney, I was so happy getting my first job, you know, but it wasn't the best job. I was working 12 hours a day. You know, like, it's in [a] construction company. You know, no, overtime. Very low pay. 

But it was a good start. 

It's a good start. You always start somewhere, right? And then [the] pay was really low, like 50 [thousand] I think 50 [thousand] including super. So like 45 thousand or something like that. Yeah, for the hours you work six [days], Monday to Saturday, the longest time was 23 hours nonstop. 

Wow. That's a lot. 

Richard Bharata:  

It was crazy. Like 23 hours, you know, you get some pizza and kebabs in a way, but basically non-stop until like 4:00 a.m. [to] 4:30 a.m. [ which was] when I got home. Then I had to be back again by 8:00 a.m. in the morning because it was a big deadline. But anyway, I did that job for a good one year I think, [and] got a promotion. 

And then I told them I'm leaving, and then they tried to counter offer, you know, like increase the pay. But then I thought it wasn't healthy [to stay]. So I decided to take another job. Yeah, and then did procurement, so slight change in career and yeah all the way until now basically. 

After leaving this job, Bharata continued to work in construction where he worked on small projects in outer areas of Sydney where the housing market was booming due to affordability.  

So construction, basically when I first started there were small projects—like building NRMA and house and land developers, like you know, in Riverstone. [Do] you know that area?

Tyrone Shum:  

Yes, I do. 

So house and land; so lots of small sites. 

Well, Riverstone is sort of more out towards Schofields or is next to Schofields, and that had a lot of big parcels of land out there. I mean now it's getting developed, same as Marsden Park, same as Box Hill, all that area has been developed. So you're saying that they purchased the big blocks of acres of hectares of land and then subdivided it out?

Yeah, they did. So 80 houses in total in Riverstone. I used to work in Bella Vista back then. So it was like a shopping center for houses and land there when in that area in Box Hill like all men and their dogs [were] basically trying to sell houses and land over there. Hundreds, hundreds of new houses.

Yeah, I mean, it's done really well. Like out there, it's nice to see so many new housing. Especially it's affordable out that way compared to buying a brand-new one in the middle or closer towards Sydney. So that's probably why a lot of people were able to buy this. But prices have gone up drastically out that way. 

It has, yeah. 

After working in construction, Bharata eventually transitioned into procurement for hospitals and achieved rapid career growth through competence and networking. This has allowed him to become a project manager for the largest stadium in NSW, where some of the biggest artists and sports events occur. 

Procurement [was] more like for hospitals, so in the construction [I was] working on behalf of the government, this time around. [It was a] big massive change from [working] 12 hours a day until, like, not much to do, in some days, not all the time. And that just gave me a different view of the world and [the] professional world. 

But nothing interesting, basically, just doing my best, doing work for one to two years, and then [I] moved to another department. You know, a big jump in career because, again, when you know people in the organization, and they like you and they know you're very competent, then you just get a massive promotion at once. And then [I] moved again; now I'm with venues. So again [a] really good environment and very challenging. So now, more like project management or construction. So for the stadium now, [I] look after the ANZ Stadium, no, Accor, it's called Accor Stadium.

Accor? I thought it was called the Qudos [Bank Arena]? Or is that that's a different one, isn't it? 

Qudos [Bank Arena] is the smaller one; the indoor one. This is the big one.  

Oh, this is a big one. Wow. How big can the Accor [Stadium] one actually fit? How many people can actually sit in that one?

For like games about 80 [thousand]. But for [a] concert, I think 100 [thousand]. Yeah, basically [it's] the biggest in New South Wales.

Yeah, it's huge because it's funny because I've got an Airbnb at the moment here. And I had people booking from overseas coming next year for the Taylor Swift concert, and they kept saying that they are going to Accor [Stadium] to see Taya [Taylor Swift]. Oh, that's interesting. I didn't know that she was coming in and performing at the Accor stadium. But that must be huge, then 100,000 people [are] probably going to flock into Sydney to watch her perform. 

She has five days at Accord [Stadium], so half a million people. 

It's going to be a lot. Wow. Well, I think I'll be overseas anyway, so I don't mind. 

You are not going to watch Taylor Swift?

No, I am not a Taylor Swift fan. Sorry guys I can't say that I am. No offense to anyone, but yeah, I'm a little bit too old for this. 

That sounds really interesting. So that's basically what you're doing right now, as a project manager, you're working for, you know, helping out with Accor Stadium. What are you doing there at this point in time in terms of management?

With management, yeah, so last year, it was really busy [with] big spenders trying to renew [Accord Stadium] because the stadium is more than 20 years old. Right. So [it] needs a lot of love and refurbishment. And yeah, it's a very iconic building. So I love working there. Very good team. My senior is really good as well, he always creates opportunities for me. So a lot of learning. Yeah, so that's pretty much it. 

Fantastic. 

Richard Bharata:  

And continue to look after the stadium.

During the COVID-19 pandemic, Bharata’s interest in investing ignited and as he delved into research he came across influence YouTubers who inspired him to begin his own journey of property investing. 

Probably only for the last few years, so maybe in 2018 [or] 2019. So this is one of the things that came through COVID. So all of a sudden [I] got interested in investing in shares. And then you start researching online, and [then I] came across a lot of YouTubers, [some] good ones and bad ones. 

But there was one that stood out. Graham Stefan; I don't know if you've heard [of him], he is American base. But basically, he shared how he turned [himself] into [a] millionaire when he was 26 [years old]. [An] American millionaire, not Australian, through properties, through building [a] property portfolio. And so I understand the concept of how it works, but I never really know how to get there, but I knew back then, you know, so. Yeah, so only for the last few years to be honest, maybe 2020 [or] 2019.

Bharata shares his experience of buying his first property in Sydney. Despite the stress involved, he highlights how his passion for attending open house auctions greatly facilitated the process. 

[The] first property [that I purchased] ever was in early 2021. And that was when my wife then and I. Sorry, [I meant] my wife now; we just got married, so no longer [my] girlfriend. We bought our first house, which [is] where I'm sitting here in Padstow Heights; we bought it in early 2021. We could afford it in mid-2020, [but] 2020 [was] probably the best time to buy [property] during that COVID panic.

But we ended up buying [the property] still at a good time in Sydney, early 2021. There was this house for about $1.2 million. It was a very stressful first time buying. But I did [have] experience because I like attending auctions [as] I always loved properties. 

Naturally, I attend[ed] local auctions just to see how the market was going after we secured our place. And then there [was] similar property selling for like $1.3 million, you know, $1.35 [million] [and] $1.4 [million]. Just crazy. You know, [a] once-in-a-generation boom. [Even for] $1.5 [million], $1.6 [million] [and] $1.7 [million]. Like, wow, this is crazy how this [process] goes. 

[A] real estate agent [was also] trying to knock on my door saying, 'Hey, I know you only bought your property recently. But we can sell it for $200 000 higher'. Like no thanks. That way [by attending these local auctions] I can see the potential in [a] property [and] that was back in 2021. 

In their quest for a place to call home, Bharata and his partner embarked on a journey through the vibrant neighborhoods of Greater Sydney. Driven by determination and insightful knowledge from a property podcast, they successfully secured their current residence. 

We liked [the] Sutherland Shire to begin with. But you know, everything was so expensive down there. We almost bought one over there but got beaten. 

Then I think Jess's cousin—long-distance cousin—lived in an area called Revesby, and then she was sharing [the property]. So they [both] were looking at Panania here and there. 

Then naturally, we start[ed] looking somewhere in that area. And then this house came [up] on realestate.com, and we both liked it. We decided to inspect it on a Saturday and put an offer [in] on the same day. And by then, Jess was already listening to My Millennial Property, like those good property podcasts. And we knew we had to be quick [from the] bit of education [we learnt on that podcast]. And we secured it by Monday.

Purchasing your first home is usually a joyous occasion, but Bharata and his partner’s experience was different. They had to navigate numerous legal and financing challenges and made some risky decisions, but in the end, it all paid off. 

It was [a] very stressful first time buying. We don't know how the legal [process] worked. We had a solicitor or conveyancer [that] was really slow in responding, [as] they [were] too busy. 

Our broker [also] missed out on [a] critical policy. NAB couldn't lend us more than 80% [LVR] because we were buying this [property] all with our own money. So we had to go up to 90% LVR back then, but then NAB said [they could] only do 80%. I was like, oh, how are we going to get this? So, we basically signed a contract without finance approval at the time.

That 10% [difference] is equivalent to $100,000.

$120,000 because [the property cost] $1.2 million. We didn't have [that type of] money; she worked in the bank in Macquarie. So we did in-house internal, [which was] very rushed and a lot of stress. [It was a] very difficult time, but then my broker also tried to find another solution, which they did. So we ended up signing with ING and got it to 90%. I think we paid like $30,000 LMI because we didn't know better.

But sometimes you need to get it over [the] line in order to own that property or the asset. You have to actually sometimes take that extra insurance so that way you can get it. Otherwise, you lose out, and if you had lost out, you would have lost a couple of $100,000 anyway from the appreciation and the opportunity cost. 

Absolutely. Yeah, with the opportunity cost. But maybe we could have gone with 88% LVR instead of 90[%], or they would have reduced the LMI significantly. Anyway, that's okay. We got it just one day before the cooling-off period.

Wow.

And [now] we are all happy.

After the excitement of their first property purchase, Bharata began exploring the market again. Through tempting opportunities that arose in Brisbane, nothing materialised. However, armed with fresh insights gained from property courses and podcasts, Bharata embarked on a new venture in the Perth market.  

When I saw how property prices went up, we all say it's [the] benefit of hindsight. I was already ready to buy again in mid-2021. You know, like [I] could have picked up in [the] Brisbane [property] market at the time—May 2021 [to] late 2021. 

But [instead] we were buying furniture, TVs, fridges [which] easily cost us $20 000 [to] $30 000. They were very important for us to enjoy our place. But we didn't buy in 2021. We did, [however], buy our first one in 2022. 

Yep. 

So I was not using a buyer's agent; I was considering using a buyer's agent. Because for me, it's easy. Basically, in property, to make it simple, you just have to have access to funding. And you need to know where to buy and what to buy. If you can combine the two properly, then you can keep multiplying. But simply, that's how you create wealth. 

I knew the concept. I have access to funding, but I didn't know how to buy, and that's when I was considering a buyer's agent. But I ended up doing a course [with] PK [Gupta], [who] I think [has] been on your podcast. And then, obviously from there, I took some other courses as well, but no one I [can] give a shout-out to because his was really good. And basically, I bought my first one in February 2022 in Perth. 

Excellent. 

So that was the first one.

And did you fly back to Perth at that point in time?

No, no. 

No, you didn't, okay. 

But we did have people inspect our place, and we have friends as well [who] live there.

Bharata explores the reasons that led to his interest in purchasing the property in Perth. 

Well, it's all in the data. And you know, and I am someone who always challenges [ideas]. Even though I did take the course, I did try to cross-check with other professionals, you know, [and] just trying to do some kind of expert validation there. 

Perth was basically a very hot market already back then, even in early 2022. So we bought a place in the city of Kwinana, [in a] suburb called Leda. We bought it for $381,000 back then—four bedrooms, two bathrooms. And there's such a short[age] of supplies, even now, if you go on real estate [websites], there's only three properties for sale, and they're all under offer. And [now] they are already asking [for] $500,000 plus.

After his success in Perth, Bharata has continued to expand his property portfolio, including his recent property acquisitions in Cairns. His portfolio has reached an impressive state, highlighting the remarkable growth potential within it. 

Since February, we bought our first [property] and then we bought our second one in Cairns. And that was in April 2022, so about two months after. We bought in Cairns, [and that was] probably not my best purchase, to be honest, because I slightly overpaid on that one. But it still grew regardless till now. We bought it for $465,000—corner block, mountain backdrop. So [it's a] really, really nice property— four bedrooms, two bathrooms. Yeah, that was in Cairns.

Okay. Well, I'm just curious how many properties total that you currently have in your portfolio at the moment, then?

Yeah, so including the place we live in, there are eight now. There is [also] one that is settling in two weeks, actually.

In a revealing conversation, Bharata opens up about a pivotal turning point in his life. He shares how he fell into the addictive world of online gaming, spending thousands of dollars and wasting countless hours. This experience served as a catalyst for him to reassess his choices and embark on a journey to turn his life around.  

You know how I told you, and you know, this Property Investory, a story is always good. So, you know how I told you [that] I saw a pattern of how I was so lazy back in high school, and then, only later, I realized it's like a slap on the face. And then I bounced back really quickly and did really well. 

I see that's repeating again here. To be honest, I haven't really shared this publicly. I was wasting so much [of my] money in my mid-20s when I was earning reasonably well for my age back then. I wasn't investing; I was trapped in this online game. It's a pay-to-win game on your mobile phone, and I easily spent almost, maybe even $50,000 in two years.

That's online gaming for you. 

Online gaming, yeah, it's like an addiction, it's crazy. And not just money, but [it impacts] your time as well. So it came to a point where, after my honeymoon, I actually looked back in the log and then [saw] month-by-month how much I spent; I created a histogram [chart]. In January [and] February, you can see a pattern. It started with like a few $100, not even $100, and then more, then a few $100, and then like $1,000 [to] $2,000 a month, and then like $4,000 or $5,000 until like $6,000 [to] $7,000 a month. 

Then I realized what have I done [with] my life. That's like a slap in the face. And then that's why I'm bouncing really quickly now. And I know I'm doing really well now. You know. So anyway, that's why I'm going aggressive [with my property purchases].

Yeah, thank you for sharing that. I really appreciate it. And it's [a] really good story to share with the audience. Because it goes to show that anyone can make the change as long as you realize what isn't, you know, healthy, I guess, in that sense, because some people don't mind online gaming, I don't mind it, you know, it's as long as you're not going crazy with that, and especially when it might not be adding value. It may add value to other people's lives, but maybe not you.

It certainly taught me a lesson.

That's a big lesson. 

I was actually going to ask you, what's one of your worst investing moments? Obviously, it's not really investing, but it's one of your worst moments in life. Would you say that's sort of your turning point? 

You know, what's funny? With that game, people won't call it [an] investment, but in the game, like they have this monthly discount, 'Spend $200, and you get a value of $500; best investment ever'. That's how, like, they advertise it. And then you [end up] spending $2,000, you know, just like that. 

And then at one point, I tried to sell the account because it's a grinding game. But with that kind of strength in the account, I could have sold it for an easy $5,000 or maybe $4,000; people would buy it. But I was stupid. I used [my] personal email in that account. So I couldn't sell it. I couldn't sell my personal email because it's got a lot of my personal information. So yeah, it's probably the worst investment.

Bharata discusses his positive experiences in his property journey, highlighting how all of his properties, including his most recent purchase, have experienced substantial growth. This highlights his astute strategy of entering the market at the right time and buying properties at favorable market values. 

It's all been positive to date, nothing really negative. All [the] properties grew really substantially, even for the last one and a half years. We bought seven [properties] in the last one and a half years, [and] they all grew at least $50,000. Even the one that we just purchased because we bought it so well. The [cost of the] last one was $517,000, but literally, next doors [price] was $690,000 [and] sold a few months back. Even the bank valuation came [in] higher, like during [the] purchase, [which] normally doesn't happen, right? 

No. 

Yeah, it's like $8,000 higher with a major bank. So yeah, it's all been positive Tyrone.

Bharata’s most enlightening ‘aha moment’ was a revelation about the opportunities that the financial system provides. He shared this insight through the entertaining story of his sixth property purchase, where he seized a remarkable opportunity. 

We bought, for example, not the last purchase, but I think the sixth purchase, we bought it off [the] market. I was looking for a client, actually, but the client couldn't spend more than $500,000. So to me, it [was] too good to be let go, so I bought it myself. I didn't have [enough] finance back then, but my broker said just do it you'll be fine. So, I valued it at around $575,000 [to] $580,00. 

Excellent. 

I bought it for $512,000 off listed. And that was true three weeks later, even before settlement, two major banks—like separate banks—already valued it at $600 000. So, basically, what that means is I can refinance these banks and get $90,000 cash just like that. That is a lot, and obviously, it is not free. 

But that's an aha moment to me like it's crazy how money is just a number. Money is just a number in your bank account. You know, they can just in the next day send you 100k just like that, and then all of a sudden, you can use that number to forge to buy another asset just like that. So I feel like, wow. 

So, people have the mindset of scarcity; they are scared if they have like $200,000 [to] $300,000 saved in the bank, [which is] lazy money and doing nothing. But you know, that's a big opportunity they can use [the money for], but they're scared of losing their $300,000. But yeah, it's a big opportunity, to be honest.

It's very interesting, because ultimately at the moment, with our financial system, I guess it's backed by quite a number of things. But it's very easy for us because of the supply and demand that we have in the market for things to sort of just shift around with numbers. And I've seen it happen a lot within the financial sector because I work in this space all the time. And some things evade certain things, and, you know, so forth, because, yeah, I'm a private financial broker. 

You're a lender. Yeah, it's a very unique model there.

Yes. So that's why I see it happen every single day, and it's not uncommon. But for everyone else out there, I guess that they're still looking at doing all this and learning about it. It is a very eye-opening type of industry.

The velocity of money, right, like how fast it moves in and out.

It's very quick. And I guess at the end of the day, all they want to know is making sure that these banks that you go to to get financing and so forth is that—Can you afford it? Can you pay it back? And can they get the money back? And if they mitigate all that risk, they're happy to throw more money at you. 

Yeah, it's important [that] you know how your household budget is performing and [at] each property how much money it's taking from you so that you're not forced to sell it at one point. 

Exactly. 

Bharata openly shares his ambition of achieving financial freedom and enabling his wife to retire. He aims to reach this milestone within the next five to six years, outlining a well-thought-out strategy inspired by industry experts like Simon Loo and Sam Gordon. 

The goal is [that] we want to reach financial freedom as soon as possible. The first milestone for me is to be able to retire my wife. So we are having our firstborn soon, and we need to spend more time with them, especially my wife. She has a really good job, and she's doing really well in where she is now. But, you know, ideally, [a] full-time housewife because that's harder than working in the bank. We want another kid as well. 

So that's my first milestone for me, you know, ambitiously, within the next five [to] six years, we can reach that status. But conservatively, [in] 10 to 15 years, we can definitely get there.

Time flies when you have kids. 

Yeah. 

It just adds a little bit more extra; you are just going to have to be a bit more disciplined, I guess you could say. 

So what's the strategy then to be able to achieve those goals?

Yeah, so my strategy is quite simple. [It's to] buy and hold [and] try to buy under market value. So I'm a big fan of Simon Loo, Sam Gordon, obviously, you know these guys, Arjun Paliwal. They all have their own tastes in doing things, but they all try to use data [to] buy affordable properties and get really decent rental yields, so it's not too hard to hold. Simon is very big in buying way below market value. Such an inspiration. So is Sam, right Sam Gordon? 

Yes, both of them do. 

It really inspires me to negotiate harder, finding those below-market value deals. [Also] look; I'm the buyer's agent. I am like killing five stones at once now because if I have four or five buyers, and if all of them pass like a property, I can buy it for myself easily. So that's a strategy that we are doing.

Bharata unveils his instructive mentorship strategy, harnessing the power of podcasts and digital resources. He underscores the critical role of immersing oneself in content aligned with personal goals and aspirations, a driving force behind his motivation and accomplishments in the field of property investment. 

To be honest, podcasts like yours are a big mentor because I learned a lot from [you]. And that's how you started your podcast because you wanted to learn from these guys and then publicize it so everyone else can learn. There is a saying that you are the average of [the] five [to] 10 people [you] surround yourself [with]. If I listen to this kind of podcast like two [to] three hours a day, that's me surrounding myself with people who've done it, who have similar goals, who've done [it] successfully, and it becomes normalized in my life.  

That is right. 

It becomes normal. I consider that [to be] mentors—like visual digital mentors— if you call it that. So obviously, I still talk to PK [Gupta] sometimes when I want to ask [for] his opinion. He has done really well himself. And my broker, shout out to him as well, he's got $12 million [to] $13 million of properties portfolio. He's done it in [the] Sydney market, Melbourne and Canberra. But no specific mentor, where you do a regular one-on-one every week or something like that. Yeah, [I] try to learn from everyone, basically.

Bharata graciously imports straightforward advice to our listeners, emphasising the paramount importance of seizing the present moment and recognising time as the most valuable resource for accomplishing goals, particularly for those aspiring to own property themselves. 

I can't remember who told me this. I don't know if I can give advice; maybe that will work [instead]. Probably start early, like start when you can; don't procrastinate. Time is one kind of resource, which, no matter how poor you are [or] how rich you are, [if you are] Bill Gates or the poorest of the poor, they all have 24 hours, we all have 24 hours in a day. 

That's right. 

And it's how you use that time [which] will determine the outcome and the life you'll be in. Look, some people are lucky they are born in [to] a very rich family. But there are people who aren't, but they made the best use of their time, and they've done really well. So start early, especially [with] that compounding effect of investing. So invest early. 

People only live like 85 [to] 90 years [on] average, and [the] retirement age is like 60 [to] 65 [years old]. Personally, I don't want to be working until I'm 65 [years old] and then enjoy the last 20 years. I want to be in a position where I have the choice to not work if I don't want to when I'm like, I'm 30 [years old] now, maybe 35 or 40 [years old] max.

Now, I still do work, even though the passive income is sufficient, but I'm doing work that I'm passionate about, [and that] I can add value and make your life more meaningful. Because you only live once. You don't want to just live [and] work because you have to. You want to make a tremendous impact in someone's life. 

For sure. 

That's my aspiration [and] my calling for where I want to go.

Your strong why, your purpose, everything that you want to do.

My strong why, yeah. Take action, start early, start now. Just do it, talk to people, calculate your risk and you will do well.

Looking back a decade ago, Bharata shares a powerful message he’d convey to his younger self and anyone seeking financial wisdom. Shaped by conversations with successful individuals like PK, his advice underscores this transformative potential of early financial education, investing readers to learn from his past mistakes. 

Start now, start saving. PK [Gupta], when I was interviewed in one of his YouTube channel [videos], he [told me he] started when he was 21 [years old]. And here he is, only 33 [years old], [has] $12 million, no debt, and maybe 500k passive income because he started early. But everyone has their own race. So if you're already 40 or 50 [years old], start today, [and] start educating yourself. Like, you know, everyone has their own journey. 

But if I [could] go back 10 years ago, I would tell myself [to] still enjoy life. But start investing, don't play online games. Don't spend $50,000 for [a] zero return.

In the coming five years, Bharata anticipates an exhilarating journey as he envisions his property portfolio doubling in value and achieving financial freedom, enabling him and his wife to work fewer days and cherish precious moments with their family. 

Look, the portfolio doubling, maybe not the Sydney one, but Perth; I have seen it double in [the last] three [to] four years. I'm sure it will outperform a lot and, hopefully, keep buying properties until we can't afford it or our cash flow doesn't allow for it. And then retire in five years. Not like retired [and] doing nothing kind of thing, but I can tell myself and Jess, hey, let's work three days a week because we want to enjoy two days with our kids kind of stuff. 

Yes. 

So I'm very [much] looking forward to that and I think we will get there.

So you've achieved a lot in this short period of time. How much of your success is due to this skill, intelligence and hard work? And how much of it do you think is because of luck?

I think [in regards to] my personal [success], I feel like it's the perfect Venn Diagram of those—luck, skill, intelligence and hard work. It's like everything is working in harmony. I'm very lucky. I did say my parents didn't spend a lot of time [together] when I was young, but they actually worked really hard, and I learned indirectly [that] I need to work hard. And they taught me how to save really well; not [all] parents are like that, so that became ingrained in me. 

[I have a] funny story as well, my parents both; sorry, I'm getting a bit off-topic [and] off tangent here. 

This is really important; it's really good.  

My mum bought the land in Jindalee back in the '90s, [and] my dad bought the BMW around the same time [and] for [roughly] the same price. You can probably guess they still have both of them. I just asked her yesterday, just in preparation for this podcast, where’s the BMW by the way, [and] it's still in the backyard; no one wants to take it for free. [And] the house in Jindalee went up to $700,000, and people want to live there up in the hill. 

That's an excellent example.

I think I'm lucky. My mom always when she has [an] argument with dad, she always brings that story up.

You can call that rich man poor dad.

That's a good one, rich mom, poor dad. And it's becoming something that I always think of. You want to buy appreciating assets; don't buy very expensive cars. I can afford nice cars, but I know it's just going to go down in value. So that's me being lucky. 

But then I'm [also] working [very] hard. I'm actually putting [this] into action [by] trying to buy these appreciating assets with good rentals. That's my hard work.

I'm also reasonably intelligent, and [I'm] able to find an undervalued market [and] find the right growing market. And I'm [also] honing my negotiation skills as well as my research skills. So I think it's a perfect harmony of everything.

Thank you to Richard Bharata, our guest on this episode of Property Investory.