Who is Emily Wallace?

Emily Wallace is the co-host of the my millennial property podcast, a property investor herself and a buyer's advocate with her team in Melbourne, working specifically with first home buyers and family home upsizers. We wanted to ask Emily some more questions though, so we can all get to know her just that little bit better. Check out her answers below and remember to have a listen to her on my millennial property!

How did you find yourself working in the property space?

Interesting question! I actually went through the entire process of sourcing, inspecting and buying my own off-market property as my first investment, all the while not knowing what a buyer’s advocate was. Turns out I had been doing the job of a BA for myself and when I started researching the market, I saw a huge gap for those helping first home buyers (my faves!). I was a team leader in recruitment and long story short, quit my corporate job with about 4 months worth of living expenses in the bank and set out to start my own advocacy at the age of 25. 

What do you do on a daily basis?

I operate organised chaos. Every single day is different, a lot of it is spent in the car (I see Punt Road more than I see my letterbox) inspecting properties, on the phone to agents trying to source properties, producing educational content for social media, learning how to TikTok, speaking to councils, reading building and pest reports, scoping out properties and completing discovery calls. 

What’s your hottest auction tip?

Simple and true, do NOT go into an auction arena without setting a limit prior. I cannot tell you how many times I have seen people, especially first home buyer couples, make decisions in the auction itself. Set a limit and stick to it people! 

What’s your property investing strategy?

For me personally, I believe in spreading eggs in multiple baskets. I have one property in Melbourne and two in Queensland which are all ultimately for growth. For the properties I currently have the strategy is long term hold at a small purchase price (all under $500K). Buying in good areas that attract good tenants. The strategy for my next purchase is likely to be a value add one with a cosmetic reno that I can somewhat ‘flip’, more so because I’d like the challenge of doing so. 

Is there a book, resource or person that’s inspired you in property?

To be honest my Dad has been very inspiring. He is a long term investor in both residential and commercial property including a number of joint ventures. It’s been great to be close to someone who has heavily invested in property across Australia and now works in the industry himself.

How did you find yourself in property podcasting?

Well, it wasn’t something I had planned on but Glen James and John Pidgeon asked me on as a guest and I basically just didn’t leave! I feel very lucky that I was able to come in contact with Glen via LinkedIn of all places and ultimately become a part of the mmm community.

Who would get value from your podcast, my millennial property?

Really anyone who is keen to learn about property both from the perspective of home ownership as well as investment. For new listeners, John is more investor focused and numbers driven with property, I am more first home buyer focused and emotionally driven with property. 

If you could give 3 tips to someone who has just started in property, what would you share?

For buyers:

• Don’t go shopping until you know what you can spend

• Remember the real estate agents work for the vendor, not the buyers 

• Don’t buy based on short term needs, have a long term vision! 

What would you tell 20-year old Emily if you had the chance today?

I would tell her to trust her gut, keep a good balance and be a YES person! 

And finally, what’s your favourite sweet or savoury treat?

My favourite sweet treat would have to be a strawberry Freddo.

Where to next?

Subscribe to my millennial property for more property tips!

Check out Emily’s buyer’s advocacy service in Melbourne

Read Emily’s top tips for first home buyers

Check out Emily and John’s big 3-part series about buying property