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Actually, I canceled the contract yesterday. (not able to be 100% comfortable with that decision) Thanks for all of your and your valuable input, I will start my search again, a little bit wiser.

Not really, as long as the it is sound investment.

Y-man: I don't really know what define that. Seems to work to make anything looks better. Not sure what zoning you are talking about.

What about 70% completed townhouse at 550k at heathmont area 3,2,2 close to station. Similar unit renting $480. Won't this be a better option?

I plan to borrow 90% anything above $490pw will start to generate + Cash flow. It is true several similar low density development is coming up in the area. I agree to What you say is quite true the price range high for average renter. But why is it so many similar apartments out there...

It is a inline kitchen, and the living area is about 19sqm.

I do agree with you, the Kitchen seems unpractical for any sort of real cooking. and living area seems small. But if I'm not wrong, In the market today, it is hard to get anything else with 550k.

Do you meant to say that 1 bedroom unit would cost more?

I plan to keep it a long time, I don't believe in buying and selling, in for the long haul. Would there be a better option? Body Corporates is at $3000.

Thanks all for you input. Do I have better option with 550k budget? I don't think I can get anything bigger at this price for low density apartment anywhere else in reasonably good suburb. Would OTP town house further away from city be a better option?

Thank MelbGal: It will be ready by Sept 2014. I'm aware that I'll be in same risk of new development next door where every I buy in area like this. Not really paying a premium for the view. I think location wise is perfect.

Waldo: The $524 figure is 5% of the property as suggested by the agent. It does match my research (size of apartment not taken into consideration). cash flow will be negative if rental < $490. So I'm happen if it is I only get $500. Cimbo: I do realize it is on the small side. At...

Hi: Jake, yes it is 2 bed, 1 bath, 1 secure car park. 1 balcony. 56 sqm internal build up 6sqm external. (2.7 meter ceiling height) The building next door looks new, double story office. google map street view will give you a good idea. Further away are heritage building and...

Hi All: I've just booked a unit at "The Clifton" 25 clifton street, Prahran for investment. NW facing on 2th level (equivalent to 4th story high), promising some city view. for $545K, return is $524p/w. I have up to friday for cooling period. I just like some input from you all. At...

I wonder how a short term strategy normally works?

Brady: Yes, I own my house at Wantirna south. Vic will be a natural place for me to invest. Indifference: Given a small budget, I think my priority will CF, and definitely going on long term. I don't see a point of buying and selling in for short term unless the property was a mistake. I...

Thanks Player for your advice. We are a first timer, and we have limited funds and making the right choice is crucial.

Objective: better return on the investment. which in your opinion would give better return in terms of CG and rental.

with a budget of 350k for an IP. I need help to decide whether to go for 3-4 bed house in Cranbourne east or a 1-2 bed apartment nearer to the city like Malvern East. and why?