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Yeah since everyone likes living next to a sewerage plant

How could he be negatively geared with a yield of 9%?

Yep. Another one in Carlton, similar RoI but bigger property. Although I must say that nowadays the outlook for the suburb isn't that great with the student population/inflows set to decrease.

This made me lol

But don't people live in houses because that's where they want to live? Isn't that the fundamental first criteria? Second is price of course.

Agreed. That drives prices. I don't think refugees migrating to an area will cause it to go up, since they have no money to spend anyway, and a negative stigma attaches to the area. If you notice, places like Richmond have only gone up in recent years not because migrants are moving in -...

Oh that's not true. I would actually purchase in those outer areas you are fond of talking about - but only as a developer where I can buy it for $10 per acre and sell it to first-home buyers et al for $500 per sqm. Otherwise it makes no sense

So if I follow the migrants - that means that I should be purchasing in places like Springvale and Clayton? Lots of migrants there from the 1970s....what a great place they both have become...(note: sarcasm)

Actually the Carlton property is positively geared as well, 9% based on original purchase price. So it actually cost me nothing to hold it, and my net yield of 2% equates to a lot more than 4k.... And I am pretty sure people do not buy 4 houses in the same area all at approximately the same...

So overall you make approximately 2% net yield, which is.....4k per year......keep bragging Imagine if you bought in a good suburb like Carlton in 2006. My property there went up from when I bought it in 2005 by 60% at the very least. Even if I made only 10% I make 10x more than what you do...

Agents are probably the worst people to talk to. Don't speak to people with vested interests because you will get bad advice

That's smart. Well technically if you short a stock you are earning interest on the balance, not paying it. Plus I use Macquarie which allows me to do proper shorting so no CFDs involved.

Yeah I've been shorting stocks. But that probably termed to be too 'sophisticated' for the majority of people

Honestly wouldn't you be better off investing in shares? With the capital you're talking about, you really won't get any value for investing in real estate in Melton. When you consider 6% stamp duty, land tax etc you should consider equities

Lol. Melton. Why?