What are the pros and cons of investing in a commercial property?
What are the pros and cons of investing in a commercial property? Read on to learn more. ...
Lena Lindley and Lauren Curren admit that they are nothing alike as property investors, but constant communication has helped them navigate their way through their journey together and paved the way for them to build an impressive four property-strong portfolio with real estate assets spread across Australia.
According to the couple, Lena, who has more knowledge about property investment, acts as the “driver” in their journey while Lauren usually takes the backseat and likes to be “the brakes of it all.”
“We do have a lot of conversations about what’s going to happen and where that’s going to go, but I guess for myself, I’m probably not as educated in property as she is. There’s a lot of trust that goes into that and a lot of… conversations. It is about structuring that time together and being transparent at all times,” Lauren shared.
Being on a journey together can often put pressure on both Lena and Lauren, especially knowing that both of their lives and their financial futures largely depend on each other.
However, seven years in a property investment journey has taught them that no doubts or issues can’t be resolved with a good discussion about every factor that can affect them—from their personal goals and different sets of skills down to their limitations and reservations.
Lena said: “Sometimes, [I am] on the tunnel vision. I have this strategy in my head and we talk it out. Lauren comes to [the] table with things that I [have never] thought of because I have a tunnel vision—aggressive, trying to make things happen so quickly… I think it’s great to have a soundboard as well... You really need to have conversations.”
The property investors also take the time to share insights with people who are also in their own journey towards creating wealth through property. According to them, it helps to learn not only from their own experiences but from the triumphs and missteps of their fellow investors who, like them, are looking to afford a financially secure future for themselves and their loved ones.
“We’ve got other friends that are in property investment. We do talk to them about what their strategies are and where they’re going with it and it has been interesting because when we did start our journey, we were so focused on flipping houses and thinking, ‘You know what? It’s a quick result. There’s some cash there, we could move forward,’” Lena said.
“On further inspection, as we’ve gotten older and obviously as we’re looking at what we’re going to do with our lives, we do need to look long-term.”
”So with the property market the way it is… it does continue to grow. There’s solid growth in certain areas if you’re getting in at the right time. That’s really what we’ve looked at and where we’ve gone with it.”
For Lena and Lauren, at the end of the day it’s all about growing together at the same time as their business of creating wealth through property is evolving. Their advice to budding property investors looking into starting a journey with a trusted partner is to be supportive while holding each other accountable to the goals you have set together.
“I think that’s what works for a partnership—you need to say, ‘What are you up to today?’ Kick each other’s butts and get the fire started,” Lena concluded.
Tune in to Lena Lindley and Lauren Curren’s episode on The Smart Property Investment Show to know more about how the pair managed to build an impressive portfolio— what they have done wrong, what they have done right, and what they are most proud of.