This insightful conversation between Phillip Shearcroft and Aleksandra Sydorow delves deep into the journey and strategies of a seasoned real estate investor.
As the founder of Vision Investment Properties and a seasoned investor with over 20 years of investing in real estate, Phillip’s journey from a spirited young entrepreneur to years of experience as a real estate investor, Phillip provides both inspiration and invaluable lessons. I had the privilege of sitting down with Phillip to learn more about his experiences, philosophy, and the driving forces behind his success when it comes to real estate investing.
From Entrepreneur to Investor: Phillip’s Journey
Phillip, could you share a bit about your path to becoming an investor?
Absolutely. My journey started pretty early on, rooted in a family of entrepreneurs. My mom, an educational consultant and my dad a miner, taught me a lot of valuable skills when it comes to business. Post-graduation, armed with a Bachelor’s degree in Business, I ventured into business ownership with a restaurant at the tender age of 24. That leap laid the groundwork for my transition into real estate investing. Essentially, I’d been in the real estate business before I even recognized myself as an investor.
A Conservative, People-focused Investment Philosophy
Your investment philosophy is a topic of interest for many. How would you describe it?
My philosophy is pretty straightforward – look before you leap. Being conservative has its merits, especially in a field as volatile as real estate investing. However, it comes with its set of challenges, like possibly never starting. What I advocate for, especially for young investors, is to surround themselves with the right people. It’s about finding mentors and peers who genuinely care, as that support network is crucial for navigating the highs and lows of this industry.
The Pillars of Success: Mentorship and Diligence
What has significantly influenced your investment strategy?
Without a doubt, my mentors. Having seasoned investors and a family member guide me through potential hurdles has been invaluable. They taught me an essential truth – opportunities are plentiful, and sometimes it’s okay to let some pass you by. This understanding led me to become more selective, focusing on building fewer, but sturdier bridges for the future.
Choosing the Right Partners
Partnerships can make or break ventures. What do you look for in a partner?
Alignment of mindset is non-negotiable. It’s less about whether they can accomplish what they set out to do, and more about whether our foundational beliefs and approaches to business and life align. Through experience, I’ve learned that even in tough times, having aligned partnerships is crucial. It’s important to trust your instincts and ensure mutual respect and understanding from the get-go.
Eyeing Market Trends: Affordability and Beyond
Which current market trends capture your interest the most?
Affordability is a hot topic right now. The need for affordable housing isn’t just a concern in Canada but a global issue. My interest lies in stretching the dollar further to enhance living standards. It aligns with my investment in properties and keeps me looking for opportunities even outside my immediate geographical area.
Evolving Strategies and The Next Big Move
How has your investment approach evolved, and what’s next for you?
Over time, I’ve learned the importance of walking away from deals that don’t fit my criteria, no matter how enticing they may appear. Keeping a tight-knit circle of advisors I trust and being laser-focused on my goals has become paramount. Traditionally, I was interested in value-adding multifamily investing, focusing on buildings from the 1960s and 1970s, but infill development has been a huge focus for me to build my life legacy.
Words of Wisdom for the Struggling Investor
Finally, what advice do you have for investors facing challenges?
Understand that the lessons from your struggles might not be clear now, but clarity will come with time. Surround yourself with people who can guide you, but be wary of those who prey on vulnerability. Remember, the pain is temporary, and what seems impossible now will be a minor detail in your larger journey.
Phillip’s journey and insights reflect a blend of perseverance, smart strategy, and genuine care for the community and partnerships he builds. His success story is not just about financial gain but about building a legacy that stands the test of time, grounded in integrity, accountability, and a deep-rooted belief in the transformative power of investing wisely.
