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Asy, Very bloody funny I don't think:) Nigel, Not something I would recommend, but it does put hairs on your chest! Handing over piles of cash (saves the bank cheque fees!) at an auction is unusual and it is NOT a long term strategy;)

PPR - sadly nothing exciting. 1031 exchanges are not for foreignors!

Problem is cross collatralising! LMI's don't like big loans, and when you gear at 95% you will get big loan sizes very quickly. In my example I could only get 1-2 more properties without the sale. I didn't fight hard for the refi, but I am constantly fighting MI's so decided to give up and do...

Here is the one reason I would sell. Actually one of two but I doubt anyone quite has the credit card debt I do! I sold a property for a $300,000 profit a few years ago. I wouldnt normally sell, but I was forced into it. Now that property was probably sold within 40k (at best) of its absolute...