Tyrone Shum of Property Investory Delves Into My Journey as a Wife, Businesswoman and Property Investor – Part 2

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On this week’s episode, it’s part two of me being on the other end of the questions! Tyrone Shum, of the Property Investory podcast, takes the time to ask me questions about my journey as a human, corporate businesswoman, and property investor. 
If you haven’t already had a listen, make sure to check out part one of the interview with Tyrone
What I love about this interview is Tyrone’s ability to ask questions that unpack ideas that lean towards being subtle; and shine the torch on where alternative investing fits into portfolio building in the world today. 
Show Notes:

00:00:00 – Intro

00:01:21 – Salena’s journey towards the alternative space

00:04:56 – Salena’s 3 step process and dive into the alternative market

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Q: You’ve shared the challenges you’ve faced, but we also want to hear about an amazing moment you’ve experienced.

  • There are probably many moments where things went really well. 
  • We got involved in a development in Melbourne that basically got us a half a million dollar profit in a very short space of time. 
  • On the surface, that was a great win. But it was actually a really painful experience. 
  • The builder went bankrupt just before completion, and I was flying down to Melbourne every week to try and push it along. 
  • Overall, it was a great outcome, but it also taught me a lot about defining success as an investor. 
  • I made the decision from that moment onwards that I wasn’t going to expose myself to that level of risk again.  
  • So, I have done various small scale developments since, but with significantly lower risk.
  • There is such a spectrum of investments that require virtually no effort through to those where you’re super active. 
  • In 2009, we had a really good portfolio at that point with a mix of commercial and residential property. And I started to use my accounting skills to figure out at what point we were going to be financially free. 
  • We had a high net worth (we’d been investing for nearly a decade at that point) and when I did the numbers, I realised that in order for us to replace our living expenses and have that freedom to step off, it was going to be another 25 years. 
  • Around that same time, we had just bought a commercial property in Canberra and the banks had said they weren’t going to give us any more money right now. 
  • At that point, I had a choice:  we could sit on what we’ve got and wait that 25 years or ask the question, “what else?”
  • I think one of the skills that really good investors have is that capacity to be tenacious and determined to ask the question, “what else?”. 
  • So my amazing moment was recognising that driving up my net worth wasn’t going to get me closer to my dreams around financial freedom, so I started to explore other opportunities and other ways of doing things. 
  • That’s how I stumbled into the alternate space.
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