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Are you taking into account RE management fees + costs, council rates, insurance, maintenance, bank fees, etc. All this usually adds 2% pa of the value of the property. Not to mention rising interest rates. How can you be buying for yield when its neg geared? And you should say growth might...

Can someone please explain why its a great buy from a purely investing point of view? I don't think we'll see any growth in Ippy for a couple hundred years (most likely falls in the next year or 2) and its negatively geared. Apologies for not offering congratulations, i'm looking at it purely...

Fair enough but i'm just saying i've heard that line so many times it ain't funny. You have no proof of any of it beside what the agent told you. Regardless, good luck with it.

If i had a dollar every time i've been told that one by an agent i wouldn't have to invest. :D Usually it goes "a contract fell over at $xx.00. Its used to set a price precedent in the potential buyers mind and also give the impression of demand (you might miss out). Its a common line in...