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You're complete nonsense! Why do you think I said simple. How many caveats can you fit and still make it simple: unless it is or will be zoned for more dwellings one day and there is enough land to fit enough dwellings on that land to make you a profit worth holding the land for that time and...

3 simple rules: 1. Buy under value. 2. Corner blocks are for ********s (unless you can subdivide) 3. Main roads are for bigger ********s (think of how many houses are available for sale each year - why buy the one on the main road?)