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Bharat and Vaishali Patel have built up a 62-strong property portfolio and intend to add more before retirement. Picture: Supplied
An Aussie investor who bought his 62nd property just hours after the federal budget’s CGT crackdown – plans to keep buying when other owners panic-sell.
Bharat and Vaishali Patel, who have been ramping up their buying – adding 26 properties in the past two years alone – said they were not swayed by federal government changes to capital gains tax discounts and negative gearing.
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A house in South Australia the Patels bought for $174,000.
The couple bought 26 properties in the past two years alone.
Mr Patel told The Courier-Mail investors will now split into two groups – those who pause due to uncertainty, and those who keep moving.
“I will not slow down – I will simply change my plan of attack.”
“Many investors may start offloading properties due to CGT concerns, but for me, that creates opportunities to accelerate,” he said.
“Right now, my focus is on bulk deals with larger land components so I can add development potential as well. In my own development projects on existing properties, I can add new homes and still claim negative gearing.”
His strategy has always been long term.
“I see property investment as a long-term numbers game – not short-term gambling.”
That mindset is why, just hours after the federal budget was delivered on May 14, he still signed on another office property for his growing real estate business with his wife Vaishali – part of a broader strategy aimed at helping other investors navigate the market and build wealth.
The Patels bought an office building just hours after the federal government’s CGT and negative gearing announcement.
“I am now helping investors use different ownership structures to strategically build their portfolios. A property that may be negatively geared by $5k–$7k during rising interest rates can become neutral or even slightly positively geared within a few years as rents increase over time.”
He said negative gearing losses can also be carried forward and potentially offset against future positive cashflow property.
“So, in reality, it’s not only about claiming deductions against your wages each year – there can also be long-term tax benefits later on.”
A block of units bought in Townsville in Queensland.
Mr Patel said his portfolio was focused on affordable properties under $500,000 with strong rental yield, held through interest rate cycles.
“If I had to start again today, the fundamentals would remain the same – buy affordable property under $500K with strong rental yield, hold it wisely, and move on to the next one.”
“Rates will eventually come down and you can manage your cash flow. I won’t buy house and land (builds) that always get delayed and keep many opportunities away. It also kills most of the borrowing capacity in one transaction.”
He does not intend to sell his properties anywhere in the near future, though he said that decision may be revisited later in retirement – with any sales managed strategically through structuring and tax planning.
Mr Patel warned rising costs and policy changes may lead investors to adjust rents over time.
While many of his properties were already neutrally or positively geared, rising interest rates could push rents higher in some cases.
“In 1987, rents increased significantly after CGT reforms, and I believe history will repeat itself again.”
Mr Patel now helps other people to build wealth through real estate.