Filipino actress and licensed Realtor Alice Dixson shares tips on investing and managing one’s career—and why she loves real estate
Please share with us how you get into real estate.
When I left the Philippines, I did a lot of things before I realized that I wanted to get back into real estate. So what happened was I went to the States, I joined my sister who was developing properties in Florida. What she would do is she would buy properties, those situated in good locations, and she would develop them.
Miami’s real estate really picked up in the early 2000s; the turnover of houses was a lot. And [home values] increased almost 100 percent in some areas! So I went there to train with my sister and she said, “You know give it a try, maybe you’ll like it.” But the thing is, when I came in, the market was already in a downswing. However, that opportunity got me into the rental side because when the market is down, when sales are down, leases go up, because people don’t want to buy house anymore. They’d rather lease. So I learned a great deal about lease contracts, how to deal with buyers-sellers, lessees-lessors. That was my next lesson. Then I left Miami and I said I love real estate.
Then I went to Canada and I knew that I was going to get back to real estate after I got my license. Then as soon as I got my license, I passed my resume around and in a few months I got a call from a commercial realtor who had a small office in the same place. So what we would do while I was working as a licensed assistant was we would take parcels of land and we would subdivide it, after we subdivide it we would get all the permits and licensing and all that. We would sell those parcels of land to builders. And in turn those builders would build their homes, and then they would ask us to sell those homes to end-users. From that I learned really from the ground up, which I really enjoyed.
How have your investments been doing so far?
With my parents’ property [which they repurposed and now being rented out], the apartments are still earning income. We were already able to recover the initial investment. Now it’s just income coming in. And I have a property manager who takes care of that. I can sell it if I want to or I could continue renting it out.
What are the main differences between investing abroad and here in the Philippines?
Here in the Philippines it’s a bit more complicated to purchase real estate. Because there’s no real one source where you can see everything. Unlike in Canada, you can go to the National website and you can see what properties are listed all throughout Canada. And then you also have what you called the “recent sold” so you know how much it was sold for. Or how much something is selling for in the area and you can do comparisons.
It’s nothing like that here. Information is only from real estate professionals, and you don’t even know if they are being truthful. So there’s no control for prices. If a professional advises you, oh you can sell your property for this much, you don’t know how accurate it is. It’s only based on his knowledge of what the area is doing for him. Aside from that, he has limited knowledge of what’s happening in the entire real estate industry. I think that’s the disadvantage of Philippine real estate—it is still unorganized. And I always was thinking when I got here is like, who is going to create a one-stop shop for us—to make real estate more reputable here?
Going into the investment side, although there are some obstacles investing here, I think if you can find the right investment, it’s always a good investment. If the numbers work, [then they will work] no matter where you are. There are always going to be snags but if you can get through conflict avoidance and realistic negotiating, then you’ll be able to do well.
How can investors who are interested in the Philippines overcome the challenge of not having that “one-stop shop” for real estate information?
I think it’s just a matter of finding the right people to work with. You should talk to people that you trust, get good referrals, check your referrals, do background checks. So if you’re not here to manage your investments personally, that will be tough. But if you have someone who can help you, then go for it. Do your due diligence and just don’t take somebody’s word for it.
Do you have any advice for first-time real estate investors? What should they keep in mind when investing?
Aside from the things that I’ve already mentioned, research. Know the people who you work with. I never really had a business plan, but like what I said earlier, if it works, if your ROI works within less than five years, go for it. And don’t be afraid to take the plunge if you think you have a gut feeling. I recommend that if you have a good gut feeling and you have done your research, then you know, even invest a little bit initially just try the waters. If it works then continue.
What can you say about the real estate market in the Philippines?
Well it’s a totally different market. Here I would say that it depends on what area you are looking at. For example Ortigas area, it’s very clustered already, there are no single-family homes here. It’s always been a business district, right? So condos and high-rises came in, and I’ve always said that there’s an oversupply of condominiums now so that should actually bring the prices down, but I haven’t been able to double check to see if it’s true.
I asked a friend recently, the same thing, and he said that in the luxury residential market, not too much supply. But in the mid-end condo market, there are too many. Many of them don’t get sold and don’t get occupied. But I think it’s just here in Metro Manila.
Do you agree that there is a bullish trend in the real estate market in the Philippines?
The truth is you get a lot of bang for your buck here. And if you pick the right property, you won’t have a lot of maintenance costs. You’re going to have association dues if it’s a condo or for a subdivision, homeowners’ association dues, but not a lot of maintenance. So yeah, it makes sense, even from my own point of view, even the development side like, I thought it was brilliant that my friend came home to do a property development. Because it is very expensive in the United States to do that.
How has your experience in real estate changed your attitude toward life in general?
I’ve become more of a business-person than an artist. Because as an actress or a celebrity, you don’t learn to deal with your producer, you only work for your producer. When I came back, I managed myself, which I don’t think a lot of Filipino artists do. I was able to negotiate my own contracts. Of course, I have a lawyer to go through the odds and ends, but I do the negotiating. Marunong na akong makipagusap. Di ako natatakot. [I know how to negotiate and I’m not afraid to.] I know what I want, and I know my value. I can apply those principles I’ve learned in real estate on a commodity; I can also apply them to myself as a commodity.
I have a lot of [celebrity] friends who ask me how I do it. I teach them to do their research, look around and see who else is in demand who can also do your job, and find out how much they’re making. Then you know how you can price yourself. So I hope I was able to impart to them my knowledge on how to manage one’s career.
This interview originally appeared in the First Quarter 2016 issue of MyProperty Magazine.
Interview by Michaela Nadine Pacis. Photos by Mark Cris Bautista
