In this episode, Verdouw takes us on a thrilling journey, starting from his early days amidst the frost landscapes of Tasmania, where a young boy’s disinterest in traditional schooling led him to venture into a carpentry and joinery apprenticeship with his uncles’ company. His story continues on the sun-kissed shores of Queensland, where he honed his skills and established himself in the construction industry until he made an audacious leap into the corporate world.

Timestamps:
01:04 | From Corporate World to Property Development
02:35 | A Day in the Life of Phil Verdouw
03:33 | Brisbane: Ready to Boom Again
06:00 | Growing up in Tasmania
12:38 | High School Troubles and Pub Adventures
14:50 | From Textbooks to Toolboxes
18:38 | Tasmania to Queensland: Escaping from the Cold
19:23 | Phil’s Queensland Quest: Carpentry to Corporate World
22:06 | Verdouw’s Roles with Bechtel
26:27 | Peruvian Perspectives: A Journey to Remember
 
Resources and Links:

 
Transcript:
Phil Verdouw:   

And look, for someone who walked in not knowing a thing about what I was going to do, I ended up becoming a global manager for the role in another organization. So, I think I did pretty well.

This is Property Investory where we talk to successful property investors to find out more about their stories, mindset and strategies.

 

I’m Tyrone Shum, and in this episode, we’re speaking with Phil Verdouw, the owner for PV Properties. Verdouw shares his journey, from the frosty landscapes of Tasmania, where he pursued an apprenticeship due to his dislike of school in sunny Queensland. There, he embarked on a career that allowed him to travel the world and achieve remarkable goals he never thought was possible. 

Tyrone Shum: 

In 2015, Verdow began his thrilling journey into the world of property development while simultaneously pursuing his corporate career. However, it was a pivotal moment in 2018 when he faced corporate reducany that he seized the opportunity to dive head first into property development.

Phil Verdouw:   

I'm the company director and acquisitions lead in PV properties. We're currently purchasing land and subdividing [it] into livable lots across Greater Brisbane [including] Logan, Brisbane City Council, Redland and Moreton Bay Regional. We have roughly $34 million in GRV (Gross Realizable Value) on the books at the moment. We've been in business for four years full-time, but I [have been] doing property development since 2015.

At that time, I executed my first project in 2014 [and] completed [it] in 2015. Then, I stayed in the corporate world and kept working in the corporate business. But [I also] did some more learning [and] some more education. [I] went to different seminars [with] educators and kept learning more about the process. 

Then in 2018, I lost my job in the corporate world [and was] made redundant. [I] then thought, “Now is a great time to get stuck into this [property development] on a full-time basis”. 

Tyrone Shum:   

Verdouw’s workday is characterised by a diverse range of tasks, making it dynamic and engaging. However, his morning routine provides a stable and predictable start to his day. 

Phil Verdouw: 

I tend to get up at about 5:00 a.m. [to] 5:30 a.m. in the morning, [and] go for a walk or the gym; work one of the two [into my schedule]. Then I meditate; I like to meditate for about 15 to 30 minutes. After that, [I have a] leisurely morning [with] breakfast, getting ready for [the day], [and I] do a bit of reading. 

I am usually in the office by around 9:00 a.m. I spend my day looking for projects [and] sites, dealing with funding and refinancing projects as the need requires, funding construction and managing and coordinating the construction side of things with my son. My son works in the business now, so he's looking after pretty much all the project delivery for us, and I'm focused on the business side of it.

Tyrone Shum:   

Through his work in Queensland, Verdouw has witnessed numerous exciting indicators pointing to the potential for rapid growth in Brisbane, driven by a range of dynamic factors. 

Phil Verdouw:  

There [are] really good signs that Brisbane is ready to boom again. So we've got really good signs that for the next two years, I think we're in for some pretty rapid growth again, a lot like I believe when we came out of COVID, when we had a bit of rapid growth there. So there is good signs. Can anyone predict the future? No, no one can, but all signs are pointing towards it. 

Tyrone Shum:   

Just curious, what kind of signs are you seeing that's pointing towards that?

Phil Verdouw:   

It's just the way the government [has been operating]—all the government spending [and] infrastructure spending. We've got the Olympics coming up, so obviously, there's a lot of spending going on there. There's a need for more people, so the migration coming into Brisbane is really strong. 

[Also, the migration] in southeast Queensland is very strong. So [that means] there's a greater need for accommodation, infrastructure and services, [and] the like. Everything's just sort of piling up on each other to give us a real solid grounding for more growth.

Tyrone Shum:  

I can kind of see that because also, too, it's affordable compared to other states as well, so there's a lot of migration that's happening, especially when COVID happened. Everyone said, “Why do I need to even live close to [the] city? I can just move out”. 

Phil Verdouw:   

Now, there are some reports that I'm reading from some people like John Lindeman and others that I look at. They're saying that a lot of those people that moved out, some of them want to move back to the cities now. There [are] things that just keep on happening. Migration is something that's happening, but international migration, that's the biggest one; that one is [seeing] quite a lot of people coming into Australia.

Tyrone Shum:  

I noticed that as well. Specifically, I've just got [an] Airbnb and a lot of the people that come [to] visit or basically stay in Airbnb are not necessarily migrants but just [people from] overseas. So there are still a lot of people coming in, which is really good. Even though they say [living in Australia] is very expensive, they still want to come.

Phil Verdouw:   

[Australia] is still one of the easiest countries in the world to live in. I've travelled, and in my previous work in [the] corporate world I travelled to 35 countries, and [some] for leisure as well. But this is by far the easiest country to live in.

Tyrone Shum:  

Verdouw’s upbringing in Kingston, Tasmania, was anything but ordinary, as his parents managed a local nursing home. The work ethic of his parents served as a powerful inspiration, motivating not only him but also his siblings to venture into the realm of business.

Phil Verdouw:   

I grew up in Kingston, Tasmania. My parents came out after the Second World War and moved in [with] my dad [and] with his family. They lived in a little hot pickers hut south of Hobart [in] Kingston, and we grew up there. I [have] six brothers, so [there were] seven of us, [and] we all grew up down in Hobart. I'll call it Hobart because it's the greater area. 

My dad and mum had a nursing home; they’re quite entrepreneurial and industrious. All [of] my brothers are in business [to] one degree or another; working for ourselves on a contract basis. One of my brothers has a software company [that] sells software all around the world for tracking shares. We're all quite industrious in business.

Tyrone Shum: 

Growing up right next door to the nursing home that his mum and dad ran, Vedouw relishes the extraordinary advantages it brought, including a constant supply of delicious leftovers. 

 

Phil Verdouw:    

We thought it was normal because they just [lived] right next door; we lived in the house next door to the nursing home. It was one of the biggest privately run nursing homes in Tasmania. Mum was the matron, and dad was the office administrator, and we just lived [that] life. We would get a lot of benefits out of it. 

Tyrone Shum:  

What kind of benefits are we talking about?

Phil Verdouw:  

As young men, food was quite high on the agenda for us. So we would [often] get lots of leftovers.

Tyrone Shum:   

I would actually be pretty happy with that, to be honest, because sometimes, as a kid growing up, I always used to run out of food [since I] would eat too much. 

Phil Verdouw:    

But when you're in your teens, especially as men, we all eat a lot. I watch[ed] my son eat, and he would just open the fridge door, and when there wasn't enough in there, he would growl. And we [did] the same as young men. 

Tyrone Shum:  

Growing up with the nursing home as an integral part of his family life, Verdouw witnessed the natural cycle of life and death among elderly residents. 

Phil Verdouw:

We saw all of that because Mum and Dad would talk about the business, you know, the day-to-day things over the dinner table with us and between themselves, and we would all hear. 

One of the things that's quite unique, well, maybe not unique, but it was [an] interesting phenomenon that every time the seasons changed, there would be people passing away. It was like [when] we went into winter, there’d be a number of [people] passing, and then we’d go into spring, and so on. It was interesting how the change of seasons just seemed to [have that effect]. It was something I noticed as a kid [when] I heard about elderly passing away; it was every time there was a real seasonal change. 

Maybe it was [the] change in temperature or something, and as we get older, we can't adapt. I'm finding that the same thing. I mean, not that I'm old or anything at this point in time, or older, but I am starting to noticing the cold a lot more than I used to with the [rapidly] changing temperature. 

Phil Verdouw:   

And [it is] very cold in Tasmania. I prefer Queensland because Queensland is a lot warmer, and I enjoy the winters here very much.

Tyrone Shum:  

Verdouw frequently lent a hand at his parents’ nursing home, tackling everything from simple chores to daring maintenance projects. 

Phil Verdouw:  

We did a little bit of both, actually. Probably a little bit of working in the business, in the sense that we would go and work in the kitchen, wash dishes, and the like for a bit [of] pocket money. Because [there were] 80 residents there, so there [were] a lot of dishes to clean up.

Tyrone Shum:   

Especially when you have six kids, it's not bad to have extra hands.

And we would do maintenance around the nursing home. I know as a kid, I would be up on the roof painting the roofs. 

Wow. 

[My] dad would buy paint, and we'd be up there painting it. They were like two and a half [to] three-storey buildings. And you're up there just with ropes. No scaffolding back in those days, no scaffolding at all. Just in sand shoes and walking on the roof. 

Phil Verdouw:  

Let's just hope that Workers Compensation doesn't hear about this.

Phil Verdouw:   

Yeah, it was a long time ago.

Tyrone Shum:  

That is insane. Wow. I mean, I kind of do remember growing up as a kid, I did things similar to you. [My] dad would just hand me a brush and [say], “Go paint that”, or [hand] me a shovel and [say], “Dig up that soil”. I’m like, “Dad, why do I have to do this?”. But it’s actually really good training, especially at a young age, because you learn so many different things. Now I know how to do all this stuff, and I can do it myself.

Phil Verdouw:  

Yeah, we did it all. We would lay bricks, we would pour concrete, we would do all sorts of things as we needed to. And we learned as we went

Stay tuned for what’s coming up after the break, as he unveils how his dislike for school led him down some daring situations that occasionally landed him in trouble … 

I went through Year 11, [and I] hated that—absolutely hated school. I got into a lot of trouble; I would always be down [at] the pub every second day, having beers instead of being in class.

His story about attaining an apprenticeship with his uncle and his extensive years working in this field … 

Phil Verdouw:   

I spent four years becoming an apprentice, and after I finished my apprenticeship, I went out and just contract[ing] and build[ing] houses and framed [them] up. 

He reflects on his extensive career in the corporate world and the enjoyable experiences he encountered … 

Phil Verdouw:   

[00:21:38] So that was [a] really interesting career. I think I love working for these big companies. It was a really enjoyable time.

And that’s next. I’m Tyrone Shum and you’re listening to Property Investory.

Tyrone Shum:  

Despite enjoying the company of his friends, Vedouw did not find school to be enjoyable. 

He believed that his insatiable appetite for learning diverse skills wasn’t adequately nourished within the confines of the traditional education system. 

Phil Verdouw:   

I enjoyed the people and my friends at school, [but] I didn't enjoy learning. I hated the education side of it. I always had trouble with my teachers; they were always pushing me too hard, well, I thought they were pushing me too hard, but obviously, they weren't.

Tyrone Shum:  

Schools are made for some people. I think that the school system only teaches you to [pursue] an industrial type of job. Basically, it's an industrialized system where they [mainly focus on] teaching you one skill, and then you’re [expected] to go and do that. Whereas, I think for me and yourself, we are pretty much entrepreneurs, [and] we like to learn as much as we can.

Phil Verdouw:   

I like to learn all the trades. One of the things that I did with my uncles and when I went out and did a little bit of work on my own [on] a contracting basis, I would do everything. I would lay tiles, I would do paving, I would [do] concreting, bricklaying, painting, even electrical and plumbing. I would do it all if I needed to and where I needed to. [These] are great skills to have. 

Tyrone Shum:   

So, after going to primary school, did you move on to secondary education or further, or did you just basically do an apprenticeship?

I did. I went on into high school [and] finished Year 10. In Hobart, you had matriculation, which was Year 11 and [Year] 12. So I went through Year 11, [and I] hated that—absolutely hated school. I got into a lot of trouble; I would always be down [at] the pub every second day, having beers instead of being in class. So, I was always getting in trouble. Fortunately, my parents used to go to Holland a lot of the time, so when I got caught, they weren't around to find out about it.

Tyrone Shum:   

So what have you been up to son? Oh, yeah, just been going to school.

Oh, I used to have to lie a little bit. [I used to say that my parents] are overseas at the moment; they don't care what I'm doing. Which they would [have] done, I would have got into a lot of trouble. 

Dissatisfied with the conventional school system, Verdouw enthusiastically embarked on an apprenticeship with his uncle’s construction company. Upon completing his apprenticeship, he delved further into the field, undertaking noteworthy projects. 

Phil Verdouw:   

I didn't like school, so instead of going on to Year 12, I went and got myself an apprenticeship with my uncles in their construction company. I spent four years [as] an apprentice, and after I finished my apprenticeship, I went out and just contract[ing] and build[ing] houses and framed [them] up. 

[I] did a bit of commercial work. I went and contracted back to my uncles on a big project down on the Hunter Wharfs in Hobart, on the university building. And we put five acres of tongue and groove flooring down, myself and my mate. 

Wow.  

Phil Verdouw:  

Yeah, it was a massive job. Then we built all these steel frame walls in there as well. It was a great job, really good. We spent maybe a year there doing that, so it was pretty big.

Verdouw’s apprenticeship specialised in carpentry and joinery, but his determination led him to develop a wide range of construction skills. This versatility enabled him to handle various projects and still remains willing to roll up his sleeves when needed. 

Phil Verdouw:   

I did a lot because I pushed myself to do a lot. I reached out and did it. But the apprenticeship was purely carpentry and joinery. So, with that, I can build a house and [create] cupboards—build kitchen cupboards. 

When I built my first home, I did all of that myself. I [built] my own kitchen, laundry, ensuites and bathrooms. I built everything myself by hand. 

Tyrone Shum:  

Wow. [Did you] even lay the bricks and everything on the outside and the roof?

[I] didn't do that this time because I didn’t have time, I got some trades[men] in. But if I need to brick up a barbecue, I'll brick it up myself. When it's a big job, I'll bring in trades [people] who are more experienced than me. But I can do the little bits and pieces of those other trades.

Tyrone Shum:   

This versatility has allowed him to tackle a wide array of projects and has even seen him rolling up his sleeves and getting his hands dirty when necessary. 

Phil Verdouw:   

Even now, I was just on a project recently, [and] I would jump in the trench [to] clean it out and lay pipe for the plumbers on the job because I needed it done, and I wanted it done on that day, [so] I jumped in and helped out. I'm happy to get in and get dirty if I need to, [but] at my age, I don't like to do it all anymore. 

Tyrone Shum:   

I know, similar to my dad, that's the same thing. He just recently had an alfresco [area] done at the back of his house. Because there was a bit of a delay in getting the plumber in, exactly the same as you, he actually laid all the pipes out [himself] as he knows how to do it. 

Then, when the plumber came, he pretty much just put on the taps. Then the electrician came straight away the next day and got it all done. Otherwise, [he] would have wasted another two more weeks waiting for those guys. Yeah, you just have to sometimes get in and get dirty [to] get [things] done.

Phil Verdouw:   

You just [have] to do the work; some things have to happen. I mean, there was one job about two [or] three years ago, one of my first projects. It was a very steep block of land, and I had to put a dry saltwater line up there. I had to dig eight meters of trench on my own, with [my] hands, [because] I couldn't get a machine up there to do it. I couldn't bring a big enough machine in because it was a very tight road. So, I had to pick up the shovel and do it by hand. I will do anything if I need to to make it happen.

Tyrone Shum:   

Yeah, that's great. It's a good work ethic that you've [developed]. I think you're probably going to be passing and engraving that into your kids in the future.

Phil Verdouw:  

You do what you have to do to make it work.

After honing his carpentry skills through apprenticeship and contracting in Tasmania’s chilly conditions, Verdouw ventured into Queensland, where he embarked on a variety of different projects. 

It was just so cold. I've been in the building industry, and I've worked for my uncle's down in Tasmania; they've had a construction company there. So I did my apprenticeship as a carpenter and joiner down there. I did a lot of contracting, building houses and the like down in Tasmania. It was a great time. 

Then I moved to Queensland and got into site management for three-story walk-ups, nursing homes and different building projects here.

Tyrone Shum:   

When he relocated to sunny Queensland, he initially ventured into trade and site management roles. However, a remarkable transition marked the beginning of his dynamic and prosperous journey with an American company. 

Phil Verdouw:   

I moved to Queensland in 1992, and then I started working in Queensland. I did a bit of trade work here, [including] carpentry work [and] restaurant fit-outs. Then I got site manager roles, managing construction projects, [including] three-story walk-ups at a nursing home that I was managing. 

Then, I got a job with the American company Bechtel and joined them. My ex-wife’s cousin's husband worked there, so we were chatting, and I ended up getting a job there. [I] travelled to Gladstone and worked on a smelter grade there as a contracts administrator. So, I went from site management to contracts admin and procurement. Then I spent the next 18 [to] 20 years doing that. It was 1995 when I joined, and then [in] 2018, I got out of that really good job.

Tyrone Shum: 

What attracted you to stay there? 

Phil Verdouw:   

It was a corporate world, and it was good fun. I spent quite a long time with [Bechtel] and then travelled the world with them to different countries, [including] Peru, Saudi Arabia, and different places. [I] worked my way up to management roles in contracts and procurement. Then I got a job with Sinclair Knight Merz, an Australian engineering organization, and I've become the global manager for contracts and procurement.

Tyrone Shum:   

Okay. So, all still within the construction industry, basically, just all around the world.

Phil Verdouw:   

Yeah, just and then specializing in sourcing and commercial contracts, sourcing materials and equipment from around the world. Interesting, very interesting role, the procurement side of things, buying materials from all over the world, making sure that it's fabricated to a high quality and then shipped to very remote sites in different locations around the world. 

So that was [a] really interesting career. I think I love working for these big companies. It was a really enjoyable time. But in the end, I got tired of it. I think I needed to go back out and work for myself.

Tyrone Shum:   

During this time, one of Verdouw’s crucial responsibilities was managing the contract process for builders and construction firms participating in their projects. He provides insights into the intricate world of contracting, acknowledging that when he first assumed this role, he lacked the basic knowledge of turning on his computer. 

Phil Verdouw:   

Let's [talk about] the first project that I worked on, [which] was the Boyne smelter line three upgrade with Bechtel. I walked in there as a contracts administrator. Mind you, I walked in there, and I had no idea how to turn [on] a computer; I didn't even know where the on-off button was. I sat down and had no idea what I was going to do or how I was going to do it. I just bluffed my way in. Then I had to ask someone how to turn the computer on, and they all looked at me and went what is here. I learned very quickly.

Tyrone Shum:  

Sometimes you have to don't you?

Phil Verdouw:   

You do, you do. 

Tyrone Shum:  

You got to act the part.

Phil Verdouw:   

And look, for someone who walked in not knowing anything about what I was going to do, I ended up becoming a global manager for the role in another organization. So, I think I did pretty well.

Tyrone Shum:   

You did you did.

Phil Verdouw:   

So, what I did there, to get back to your question, I would bring together all of the technical and commercial aspects of a contract for a builder or a construction company [that] came in [to] do a particular section of the work on a project. The engineers would write the scope of work in specifications and do the engineering design work. 

There [would] be other parts [like] safety [and] industrial relations, and I would bring all of those aspects of a contract together and then formulate the contract into one total document. [I would] put [it] all together and then send it out for tender to different construction companies. 

Tyrone Shum:   

Yes.  

Phil Verdouw:   

All tier-one constructors. Then, I would arrange to get the tenders in, who will receive the tenders, and then distribute the sections out to the different departments for their reviews. [I would] coordinate all the reviews of the tenders and then select a preferred tenderer. Then, I would award the contract to the preferred contractor. And after that, I would administer that contract through to completion.

Tyrone Shum:   

Wow, so it's very similar because when you just told me that process, it's very similar to development. You’ve got to find a builder, you basically tear it out, and then from there, once you've got the contract, you basically manage the whole process all the way to the end.

Phil Verdouw:  

Yeah, you do get through the end of it. So that's for construction services, and when it comes to equipment and materials, because these are big engineering, heavy engineering projects, there's lots of equipment and services needed; lots of specialist services. So, [there are] lots of different styles of contracts with different scopes. 

Tyrone Shum:  

Verdouw delves into the complexities of the procurement process, emphasizing the critical need for precision and attention to detail in its execution. 

Phil Verdouw:  

On the procurement side of things, we buy equipment, say from China, for example, big heavy equipment. But you can't just send a contract over there and expect them to build something the way you need them to. And that is with any country. For example, I had something built in New Zealand that came out terrible because we didn't have the right quality control there. So you have to put quality control in every country, just different levels of quality control depending on the country. Then you have to ship it. [We] then pick it up, and transport it onto a boat, ship it to another country where it's going to be installed. Then we take it to the location, and some of those places are very dangerous and difficult to get to.

Tyrone Shum:   

It's very interesting. Wow, I can see, you know, it's not just a one-man [job] that you’ve got to do here. You require so many moving parts and so many people that you're involved [with]. It is sort of like this massive factory chain that you've just got to maintain and keep moving. 

Yeah, it is a massive coordination role. There are a lot of people involved in these big projects and some really clever people in there. I was just one person in hundreds doing a job.

Tyrone Shum:  

Verdouw shares a thrilling and demanding experience from his time at the company, where he managed a complex copper mine construction project in the mountains of Peru, where he had to navigate health challenges and guards with machine guns.

It was great. One of the most challenging roles I've ever had was one in Peru, and that was challenging because it was so high up in the mountains—5000 meters up there. We were building a new copper mine, and that was very interesting—tunnelling under mountains, draining lakes. It was [a] really super interesting place to be. 

[It was] very hard to live and work in that environment. I found myself in the hospital a couple of times up there because I just found myself dehydrated and suffering from altitude sickness. So it was in a very interesting place, and [there were times where I was] worried, well not [maybe] worried, but there were guards on horseback with machine guns prior to walking around the site, keeping all of the local thieves away.

Tyrone Shum:  

Yeah, I guess that's what happens in sort of remote, different countries. Would you consider Peru sort of a third-world country in that sense? 

Phil Verdouw:  

I would say they would have been. It was my first taste of real poverty when I drove out of Lima, up to the mountains; a 10-hour drive from the airport up to the mountain. And I saw my first real massive slums that I'd never witnessed before. So as a pretty fresh Australian coming out and seeing that, it really blew me away.

Tyrone Shum:  

Yeah, I can imagine. When you see that kind of stuff, it really gets you to appreciate and realise how fortunate we are. 

Phil Verdouw:   

We live in one of the luckiest countries in the world from my experience. Absolutely.

Phil Verdouw’s story continues in the next episode of Property Investory. He shares the exhilarating story of how he traded in his corporate career for the thrilling world of property development … 

I just started losing the joy in the corporate world [and] I was losing the joy [from] the job.

He shares the initial challenges and formidable hurdles he confronted at the outset of his property journey, where he rolled up his sleeves to achieve success … 

 

I had to cut it on the boundary line with a chainsaw. I was up there for three days cutting the tree stump with a chainsaw. 

He generously imparts the invaluable lessons and insights he has gleaned during his property journey, offering a guiding light to empower others on their path to success … 

Don’t rush it; just make sure you do what you can manage. You only do what you can manage. 

 

And that’s next time on Property Investory.