After witnessing his dad’s struggles, Tyron Hyde decided to embark on educating himself, studying for a degree in construction economics at the University of Technology Sydney.
“I wrote my thesis on property depreciation back in 1993, when property depreciation was an unknown tax benefit for property investors,” he says.
His education and specialisation quickly paid off because of a new ATO ruling that made quantity surveyors the sole professionals qualified to create depreciation schedules. As a result, Hyde became the head of Washington Brown’s depreciation arm.
“[My knowledge] has enabled me to turn Washington Brown from a two-man operation into one of the leading quantity surveying firms in the country,” he says.
About 25 years ago, when the business was hired to serve as project auditor on a development in Balmain, NSW, Hyde bought his first property, making a solid profit. He then became passionate about the potential to build wealth through property – when investing in the right assets.
“I enjoy sharing my knowledge,” he says, “and it is important to me to educate others about the pitfalls of property.”
AT A GLANCE
Favourite investment: His own education: a Bachelor of Construction Economics degree from UTS
First property: 1-bedroom apartment in Balmain, NSW
Purchase price: $259,000, sold for $490,000
Hyde’s quantity surveying firm,
Washington Brown, is now a global enterprise generating depreciation
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