Richard Bharata: Building a $6.5 Million Portfolio in 2.5 Years

by Ben Handler

March 5, 2024

In just two and a half years, Richard Bharata has been able to build a property portfolio worth more than $6.5 million.

 

The former engineer was always interested in getting involved in building wealth, but it wasn’t until he saw a video on the power of investing that he knew the time was right to get started. Richard was previously heavily involved in gaming and when he realised the time and money that he was wasting, he put all of his attention into property instead.

 

He made his first investment purchase in Perth in 2021 and then quickly bought more investment properties in both WA and QLD. In total, he now has 10 properties and expects to keep on adding to his portfolio.

 

“I always find the process of buying properties satisfying, challenging and something I really enjoy doing,” Richard says.

 

Richard says he was able to grow his portfolio rapidly because he bought well in markets that were rising as well as using creative financing strategies to help bring in more equity and also increase his ability to borrow.

 

After finding success so quickly and also uncovering a passion for property investment, Richard realised that this was something he wanted to do as a career so he could help others reach the same level of success as him.

 

He established his business iProperty Finder and was able to quickly get the business off the ground thanks to the reputation he had already created from building his impressive property portfolio.

 

“It’s like when you’re promoting gym clothes or gym equipment, you tend to buy from someone who actually looks fit or someone who takes action, not just someone who preaches it,” he says.

 

“While it’s never easy to find clients, there are people who actually reached out to me rather than having to do the phone calls.

 

“They actually reached out to me and they end up putting their trust in me to find them assets.

 

“They see the value in my service and that becomes a client.”

 

Richard has so far been able to build his business rapidly and has numerous clients he has helped buy four and even five properties in their own right.

 

“It becomes easier to attract clients who want to emulate what I’m doing,” he believes.

 

Richard looks to help clients buy properties right across the country and focuses on two key factors.

 

“I want to find an area that shows signs of growth in the short and medium term,” he says.

 

“I think with property it’s pretty predictable where it’s going, so we buy an area that is growing.”

 

He says he also only buys properties below market value.

 

“At least that way you’re combining the two best things in terms of creating wealth and making money in terms of equity,” he says.

 

“I don’t like paying over what the market is telling us.”

 

Richard worked with the Buyers Agent Institute (BAI) and says it was one of the best decisions he’s ever made.

 

He says the course got him off on the right foot and also being able to network with other buyer’s agents made a huge difference when he was getting established.

 

Richard believes that becoming a buyers agent was something that appealed to him for many reasons.

 

“I actually wanted to have more freedom and control of my time and along with investing it allows me to do that,” he says.

 

“Now I’m also able to make a real impact for my clients and there’s more fulfilment and satisfaction there.

 

“It’s like a calling in a sense.”

 

Looking forward, Richard wants to keep on building what he’s started.

 

“I think we just want to be consistent and really build a community of not just clients, but friends,” he says.

 

“When you have clients who you are buying your fourth or fifth property, that person really becomes part of your friendship circle.

 

“Clients will turn into friends, and then we just enjoy all this, passive income and grow together.

 

“And that’s the best position to be in.”

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