When financial misfortune tore through Santosh Nune’s family, they lost tens of millions of dollars in a riches to rags story that changed the course of his life. Born and raised in Hyderabad (India), Santosh says his was one of the top 10 business families in the city. When a major property development went sour, his family lost a sum that Santosh estimates would be worth $30-50m in today’s rates. Their businesses collapsed and they were forced to sell everything to repay creditors.
“I left India aged 21 with $1000 in my hand and my first semester fees paid,” Santosh says.
With the sting of his family’s failed businesses never far from his mind, Santosh was determined to rebuild his wealth through property investment.
Nearly a decade later, Santosh and his now wife Charmee have amassed a $6m portfolio, including nearly 20 + investment properties spread across Sydney, Melbourne, Brisbane and India. Santosh’s advice for new investors is that property will work for you as long as you have a team of experts, with everyone doing their fair share of everything.
It’s also essential to treat residential real estate as a business – whether you have one property or 100 – and you shouldn’t hesitate to get professional advice, even though it costs money.
Santosh now lives with his family in Brisbane where he works as a buyers agent and living the Australian Dream.