Kyla Kirkpatrick: How incoming Real Housewives of Melbourne star built her property portfolio

Incoming Real Housewives of Melbourne star Kyla Kirkpatrick has built an impressive property portfolio. Here’s how the “Champagne Dame” did it.

Kyla Kirkpatrick has built a champagne empire, but bubbles aren’t the self-made businesswoman’s only passion.

The incoming Real Housewives of Melbourne star is also property obsessed, having amassed a portfolio worth about $4.5 million, that started with a modest purchase two decades ago.

Kirkpatrick has done it all while running multiple businesses — and without the help of her husband, Kyri Christodoulou.

Known as the “Champagne Dame”, after her namesake cellar door tour company, Kirkpatrick is keen to see other women jump on the property investment bandwagon, but has one key piece of advice: ditch brand-name goods.

“I am often shocked when I meet women who are rocking designer handbags and shoes or driving a luxury car but do not own property,” Kirkpatrick says.

“This is the ultimate in vanity and insanity, and will not see them in good stead in retirement.”

Incoming Real Housewives of Melbourne star Kyla Kirkpatrick at her home in Brighton. Picture: Nicki Connolly

Kirkpatrick started her property journey with a $10,000 inheritance and the help of the First Home Owners Grant.

With that, she bought a two-bedroom apartment in Melbourne’s CBD for about $175,000 in 2001 before selling it and upgrading to a bigger home — a strategy she has since used several times.

It wasn’t until about eight years ago after she returned to Melbourne from living in Paris that she started her property investment journey, and has since acquired a home in Brighton (where she lives), and others in Sandringham, Berwick, Doreen, Ivanhoe and Kilmore.

A property purchased in Doreen for $195,000 in 2016 by Real Housewives of Melbourne star Kyla Kirkpatrick. Picture: Realestate.com.au

The Kilmore property purchased for $1.45 million in 2020 by Real Housewives of Melbourne star Kyla Kirkpatrick. Picture: Realestate.com.au

She concedes that not everyone has access to inheritance or the bank of mum and dad, and that those already in the market might find their hip pockets stretched.

But she doesn’t believe that should stop people from pursuing their property dreams.

For newbies and investment hopefuls alike, Kirkpatrick recommends looking in suburbs that they might ordinarily ignore.

“Get the discipline of saving and managing your money and invest in a market which might not be as expensive as where you want to live,” she says.

“It could be a suburb that offers a really good rental yield, but does not necessarily have a high entry price.”

One of Kikpatrick’s investment properties in Berwick, which she purchased for $575,000 in 2016. Picture: Realestate.com.au

She also owns this apartment on Upper Heidelberg Road, Ivanhoe. Picture: Realestate.com.au

The 42-year-old, who also runs an e-commerce company and an online store specialising in craft beer, says cutting out unnecessary expenses is vital.

She advocates reading books (she personally loves The Barefoot Investor) that explain how to manage money.

Kirkpatrick warns buyers that owning multiple homes can be a financial burden.

“From body corporate fees, to land tax and water … there are a lot of associated expenses,” she says.

“It would be absolutely fair to say that I am asset rich and cash poor, and that can be a stretch sometimes, especially being self-employed.”

Kirkpatrick runs three businesses, Champagne Dame, Emperor Champagne and Fizztopia. Picture: Nicki Connolly

Kirkpatrick adheres to what she describes as an “aggressive” investment strategy, but says this isn’t for everyone.

“I’ve built my portfolio very, very quickly and sometimes I commit to something I can’t afford,” she says.

“The market is a little bit hot in places at the moment, but I still don’t think you can go wrong in the long-term.

“But that’s assuming you’re a young person. If you’re under 40 I’d be looking at property, if you are over 45 and I’d be thinking about investing in shares.”

Property mentor Gaewyn Goodwin, from Accrue Real Estate which specialises in property investment acquisitions, said women “tend to take a more holistic approach to investing in property.”

“From my experience in real estate, I have found that women tend to be cautious and like to do a lot of research,” Goodwin says.

Originally published as Kyla Kirkpatrick: How incoming Real Housewives of Melbourne star built her property portfolio