The Property Pineapple - Phil Almeida

Performance Property Data

Sharon invites her friend and colleague, Phil Almeida (Director Acquisitions at Performance Property Advisory) to chat about his property investing journey.

Starting out as a 19 year old, Phil’s first purchase was in the outer-Melbourne suburb of Sunbury. He acknowledges now that he was perhaps a little underprepared for such an investment, and had to take second job and work 7 days a week in order to make the mortgage repayments.

His next purchase was a joint venture with a group of friends. Over a few beers one night, they made a plan to buy a property together and the four of them each saved up $10,000 for a deposit. They found a suitable place, but it wasn’t to be. During the settlement period, they received notice that the vendor would be pulling out of the contract.

However, with the help of a lawyer, they didn’t give up so easily, and after a mediation session walked out with $85,000 between them.

The money was used to start their portfolios, and they next bought a block of land in Frankston. With the plan to hold onto this lot for several years and use the proceeds for a deposit on each of their principal places of residence, one of them had a change of heart and wanted out of the joint venture.The rest of them held firm, and were rewarded when they sold the property for more than double of what they had paid.

Not discouraged, the three remaining friends bought another property in nearby Red Hill, which they still own today.

This was the last of the joint ventures, with Phil next buying a property in North Adelaide. About $50,000 worth of renovations were done on this property, before he and his partner bought their principal place of residence in Coburg.

There are now six properties in Phil’s portfolio.

In addition to discussing his own experiences, Phillip reveals his personal investment strategy, and offers lots of advice for potential investors, especially young people who might be considering a joint venture themselves, or just looking to kick-off their portfolio.

About your host, Sharon Taylor…

Sharon heads up the research division at Performance Property Advisory. She is responsible for the aggregation of economic and property data sources, as well as deep analysis of the data to provide quarterly reports on each capital city of Australia.

These reports identify between 5 and 8 submarkets in each capital city, and provide an opinion as to the short term performance of each submarket. This information is vital for clients to maximise the performance of existing assets, and also for selection of new blue-chip investment locations.

About Sharon’s guest, Phillip Almeida

As one of the Director of Acquisitions at Performance Property Advisory, Phil has built a career around meeting the needs of successful medical professionals, farmers, graziers, and other professionals looking to access good quality advice on property investment as part of a long-term wealth creation strategy.

Phillip has been advising rural clients and rural accounting firms on quality off-farm investments since 2002. Having a rural background himself, Phillip understands the challenges and issues faced by the farming community, particularly the impact that market fluctuations and seasonal conditions can have on their income, and their capacity to invest.

Phillip is well placed to provide investors with advice and support in areas with growth potential in the residential and commercial property markets across VIC, NSW, QLD and SA.

‘The Property Pineapple’ is one of three segments you will hear on the Performance Property Data podcast. Released monthly, they present listeners with stories from real investors, discussing their wins, and admitting their losses.

‘Property Insiders’ are also released monthly and are conversations between David McMillan (Director Acquisitions - Performance Property Advisory) and industry leaders offering knowledge and expertise.

And ‘Performance Insights’ are released every Wednesday and Friday, giving you the lowdown on key property markets around Australia. These episodes are also available as short videos at our youtube channel.

For more information about how Performance Property Data can help you maximise your investment dollar, head to www.performancedata.com.au