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