Matthew Bull worked as a podiatrist for more than a decade but is now a successful property investor who works in that same field.
Melbourne’s Matthew Bull has swapped working with feet for building a property portfolio that’s worth almost $5m.
Along the way, the former podiatrist has found a new job helping other people pursue their own investment property dreams.
Mr Bull was aged 31 and operating a small number of podiatry clinics across Victoria’s capital when he and his wife bought their first investment home, about five years ago.
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At the time, they were renting themselves but were priced out of buying a house within the Melbourne area they were leasing in, which was close to their respective jobs.
This was despite the couple building up the podiatry business for a number of years while they saved for a home, with Mr Bull’s wife working in insurance.
After seeking advice from property investment company OpenCorp, it was suggested that they buy an investment property in Brisbane.
They also decided to rent where it was convenient while investing in property to build their wealth, in the hopes one day being able to afford their dream home.
Their choice has since paid off in spades with the Brisbane home doubling in value since they purchased.
Matthew Bull and his wife are renting in Melbourne while investing in property. Picture: Knight Frank.
Mr Bull said this had helped them to buy two additional investment properties, in Perth.
“We had quite a strong equity position within a couple of years,” he said.
“We topped up with a little bit of our own savings and actually got us into a position where we were able to buy two properties at the same time.”
Since 2023, they have bought fourth and fifth investment properties, this time in Melbourne, and are now looking to acquire a sixth.
“Number four and then number five was a straight equity purchase, we were able to pull the equity out of the Brisbane and Perth properties to make the fifth purchase possible,” Mr Bull added.
“If we make the sixth purchase, the portfolio will be a little over $5m, and the growth on those first three properties alone has been $1.25m.”
Rent-vesting involves renting where you want to live, or can afford to, while investing in a home, or homes, that suits your budget and then leasing it out. Picture: NewsWire/Nadir Kinani.
He and his wife have focused their efforts on buying newly-built homes due to the related tax benefits.
“So one thing that allows me to feel very, very comfortable with the investment strategy that we’ve employed is that we haven’t taken a home away from a first homebuyer,” Mr Bull said.
“Everything that we’ve done has been built new and effectively bringing new supply to market to assist with that rental crisis.”
After 14 years as a podiatrist, he sold his clinics and changed careers to join OpenCorp as a senior strategist.
This involved gaining a real estate license, plus a lot of on-the-job training and internal courses.
Mr Bull and his wife own properties in Melbourne, Brisbane and Perth. Picture: NewsWire/Nadir Kinani.
Mr Bull said some people might be surprised at how similar podiatry and his new job, in which he helps clients undertake their own property investment journeys, were.
“In a healthcare setting, what I used to really love about my job was that I’d help people,” he said.
“I get the same opportunity to help people now but extend a little bit further than the person who’s sitting in front of me, because it’s not just helping them it’s helping their partner, their kids and potentially future generations.”
Meanwhile, Mr Bull and his wife are planning to hold onto their rental homes for five to seven years.
They will then sell one or two to fund the purchase of their own dream house in Melbourne, potentially in an inner or bayside suburb.
“Importantly, we’d like to buy it with significantly less debt by selling a couple of investment properties so that we can not have too much of a restriction on lifestyle,” Mr Bull added.
For other Australians who would like to buy an investment property, or properties, his advice is simple: “Lean on experts and learn from their mistakes.”
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