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Part 1 - Managing Investment properties risk

Updated: Aug 2, 2021

My grandfather was an accomplished eastern suburbs builder in the 1960’s through to the early mid 1970’s. He immigrated from Europe after the turmoils caused by second world war. My late uncle and father told me that my grandfather once used his extensive building knowledge to save his life through the use of strategic asset management. It’s a fancy term I learnt at Uni about how to better take care of property over time and plan your maintenance to avoid unforeseen and costly surprises…Tanks are made from metal and are very expensive…

The story goes something like this, my grandfather had travelled through Europe to run away from the troubles of the war, he ended up in Russia, whilst in Russia, the Russian army found out he was a master builder and utilised my grandfathers extensive skills and put him to work. Building housing for the Russian government, his task masters noticed he was very ingenious and efficient with the use of valuable building materials. Metals were used to

assist chimney construction and my grandfather designed a more efficient way using a ceramic chimney design which provided a better outcome and allowed the Russians to use the valuable metals for their war effort, tank manufacture.

My grandfather was then taken out of the workcamps and given his own house and improved living conditions for his

contribution, this allowed him to escape and make his way to Australia. This is a great example of what one can do when faced with adversity and how you can solve a risky and life threating situation by thinking outside the box.

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