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Looking at the house I don't think it was necessarily a builder rip off, although they were charging like wounded bulls around that time and that was probably part of your problem. I think it was just the wrong play in Melton at the time. I did look at one similiar to yours but 5 yrs old in...

Sounds like that is a distinct possiblity. It would want to have been a pretty good house in 2006 for $300K in Melton. In Oct 2006 I bought an old 3 bd 1bth for $142k and sold it Dec 2010 for $237.5K in Melton South. Also i bought a 30+square 4 Bed,2 bath, 3 toilet + study double storey 6 yr...

Yes but not everyone wants/thinks or can afford to live where you might. There are plenty of people who want to live in areas you might turn your nose up at. So the point is the same, if you invest based on that outlook you greatly limit yourself, and you are then expressing a bias based on...

It is coming across like you only invest based on "where you would live" type emotional assessment, whether intended or not. It makes a lot of sense for people who dont necessarily have a high income to invest in higher yielding areas to make it easier to manage holding costs. The whole that...

Wunderbar, true on the balance sheet. But growth being equal, much easier to hold 3 x Melton properties yield 6-8% from day 1 worth $750k than 1 carlton property worth $750K yielding 3-4%. If both grow @ %60 over 4 years i would take the higher yield any day.

Not a bad place to start, Yields are pretty good relative to the rest of Melb. Entry point pretty low, plenty of tenants, lots of infrastructure happening. One of the biggest challenges of investing in a city you know is to put aside preconceived prejudices and evaluate an area unemotionally...