Tyrone Shum of Property Investory on Building His Property Portfolio and His Introduction to Alternative Investment Strategies
On this week’s episode, Tyrone Shum, of the Property Investory podcast takes the time to speak to us about how he learnt about money and how it ultimately led him to the path of building wealth through property investing.
What I love about this interview is Tyrone’s story behind:
- how he found himself on the property investing journey,
- the most significant challenges he has faced;
- having a network of mentors; and
- his introduction to alternative investment strategies.
00:00:00 – Intro
00:02:08 – Tyrone’s attitude to money during his upbringing
00:08:50 – Tyrone’s journey as an entrepreneurRead More
Q: What were your attitudes and feelings towards money when you were a kid? How was money spoken about in your house?
- My parents were initially immigrants from China and Hong Kong. My father was the one that initially came to Australia with roughly about $200 in his pocket. That’s all he had.
- He landed here in his early 20s to try and set up a life for his family – we come from quite a large family.
- When my father came here, he worked three jobs just to survive and send money over to his family in China. He was working at a restaurant; he was a watchmaker and all sorts of other kinds of jobs.
In a period of time, he was actually able to bring across my uncles (his brothers).
- So, from that very young age, he had to learn very quickly how to survive – especially when his English wasn’t so great either.
That’s where his value of money comes from – he just wanted to have a really good life. Now he lives a great life because he has built up enough money in long term investments.
- When I was growing up, he was running a business, so around the table at dinner time we’d always talk about business.
- I pretty much absorbed all that information. And at the same time, my father was quite stringent with money – he just didn’t want me to spend it on things that were wasteful, only the things that I needed.
- So that was ingrained in me at a very young age, and through that, he taught me the value of money.
- I also had to learn how to be independent from a young age because my mom passed when I was eight years old, and my dad worked very hard.
- But other than that, yeah, the value of money was driven home then – especially around the dinner table and when we went and bought things.
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