Let’s talk about your property investment strategy. What works?
Tyron Hyde: What works for me at the moment is I am seeing a lot of distressed property. So as a quantity surveyor, I try and look for property that is, where I can buy property at close to construction costs. Because I believe that you can buy property at the construction costs, you get the land thrown in for free, it’s very hard to lose money.
What’s your advice to property investors? What have you learned?
Tyron Hyde: The first thing being that any property depreciates. We do, a lot of, there is a lot of, there is a myth out there that only newer property depreciates, but we do lots and lots of old properties.
So [anyone selling this built] in 1950, it’s still worthwhile getting a quantity surveyor out to analyse what [claim] in that property, whether they be carpets, the ovens, the dishwashers etc.
My other message is that we have a calculator online, that people can get an estimate of the depreciation. It’s free so anyone who is analysing property can, you go to our website and use that calculator. [Perhaps I would say], okay I bought a property for $500,000, how much can I claim depreciation.