Indian-origin man owns over 20 properties worth Rs 160 crore but still lives in rented home in Australia

Indian origin man explains why he still rents despite owning over 20 properties. (Image: coposit_/Instagram)

Owning a home is a dream for many people. For some, it represents stability and long-term security and a peaceful place to stay with their family. Yet in today’s property market, not everyone follows the traditional path of buying the house they live in.

An Indian-origin man in Australia has drawn attention after revealing that he owns more than 20 properties across the country but still chooses to rent his own home. Ravi Sharma, 32, is the founder of Search Property Buyer’s Agency.

Over the past decade, he has built a property portfolio valued at about $25 million (AUD), which is approximately Rs 160 crore. His company has been shortlisted as a finalist for Best Buyer’s Agency at the REB Awards in 2023 and 2024, according to LinkedIn. He was also named Australian Business News Young Entrepreneur of the Year 2024 in the Property and Construction category.

Despite owning nearly two dozen homes, Sharma does not live in any of them. Instead, he rents a three-bedroom penthouse apartment in Macquarie Park, Sydney, where he lives with his wife.

Speaking about the size and reach of his investments, Sharma explained how his properties are spread across the country. “I have a portfolio of about $25 million, and I have like 20 odd properties in that,” Sharma said in an interview with Coposit, a property app that helps people buy homes. “I have only got one or two in Sydney, but then the rest of them are across all of Australia.”

He also shared how much he spends each week on his current rental home, “I pay nearly $1,420 a week in rent.” Sharma began investing at the age of 21. He bought his first property, a three-bedroom house in Dubbo, for $190,000. Over the years, he continued to grow his portfolio by purchasing homes in different parts of Australia and renting them out. Sharma also runs a YouTube channel called Personal Finance with Ravi Sharma, which has more than 100,000 subscribers.

His decision is based on a strategy known as rentvesting. According to a report by news.com.au, rentvesting involves renting a home in the area where you want to live while buying investment properties in more affordable locations. The aim is to enter the property market sooner and build equity over time.

The strategy has gained attention in Australia in recent years, especially in cities such as Sydney, where property prices are high. Many buyers have found it difficult to afford homes in their preferred suburbs. As a result, some have chosen to invest in regional towns or interstate markets where prices are lower, and rental returns may be stronger.

After clips of his interview were shared online, social media users responded with mixed opinions. Some supported his approach and financial planning. One said, “Smart guy.” Others congratulated him on his achievements and backed the strategy. Another wrote, “Well done on your achievements! Rentvesting is a great idea!”

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Some users highlighted the effort and personal sacrifices that may be involved in building wealth through investment. One said, “While there’s some merit in saying housing should be for profit and should only be a social good, one should also acknowledge that things like water heaters, baseboard heaters, microwaves, stove ranges, etc. all cost money. This guy probably saved every penny he made and invested it. Very few will talk about the sacrifices people make to invest money in something, be it foregoing cars, good clothes, etc.”

However, others criticised the wider system and the role of large-scale investors. One user said, “Housing should be for people, not profit - benefiting off a system that is driving inequity is not something you should be proud of.”

Some questioned whether there should be legal limits on multiple property ownership. Some also added, “Owning 20 investment properties should be illegal.”

Others linked such cases to the broader housing shortage. One more added, “That’s why Australia has a housing crisis. Not his fault. The system is broken. One or two investment houses should be ok but as many as should be in a specific tax bracket.”

Disclaimer: This report is based on user-generated content shared on social media. Moneycontrol has not independently verified the claims and does not endorse them.