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Hi Tom From what I have been reading on this forum, Melbourne has been crazy as well. If you have lived in Brisbane and know Brisbane, I think it is a good place to start :) Good luck!

Hi Tom, I'd be very careful buying in Sydney.... going by recent sales, that sort of budget is unlikely to work in areas close to parramatta including wentworthville, pendle hill, girraween and toongabbie. Have you considered other cities?

Very good points windyzz. I would like to add that as there is no unique factor, if there is a fire sale in your large complex, it will impact the value of your investment. I haven't read through the whole thread, but wondering if Finance would be an issue with LMI as this is a high density...

Please do yourself a favour, and take your money back ASAP. Doesn't sound like a great investment. Imagine the strata you will be paying!!!! You will be paying for your tenants life style! Sure you will have some tax deductions - but what's the point if the value doesn't go anywhere as you paid...