12/04/2018
AT A GLANCE
Favourite investment: 2-bedroom unit in Lane Cove, NSW
Purchase date of first property: 1996
Price paid: $178,000
Allison Mifsud
A fashion designer for 13 years, Mifsud has a long-term goal to be able to live comfortably off her rental income.
Transitioning from fashion design to real estate, Allison Mifsud is using her investment savvy to enjoy life on her own terms
Allison Mifsud was heading down a different career path altogether when she began her investment journey at 22 years of age. She quickly displayed a knack for real estate and left the fashion industry in 2001.
“I thought it would be the perfect career long term and I wouldn’t be stuck in an office,” Mifsud explains.
Four years after starting investing, Mifsud stumbled across her best investment property.
“It was a two-bedroom unit in Lane Cove that I bought for $178,000. It was the place I was living in, so there was no negative gearing. My aim was to reduce debt as much as possible.”
The equity she built in the property enabled Mifsud to buy a beach house in Copacabana, which has today become her family’s holiday home. The unit was also used as security so Mifsud could purchase two more dwellings in Ryde and Mudgee.
“My parents always taught us that it’s not how much you earn that matters, it’s how much you save – and what you do with your money.”
Are you living the good life thanks to your portfolio? We want to hear from you.
