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Sorry for the thread hijack :) What I was trying to say that the property I picked up was same price but has way more potential - bigger block, not a complex, high rent, good zoning for redevelopment. So if you look around you can find better choices than the Albert St one but they don't...

It did put me off a bit. I assumed it would be more but then I thought 'what the heck!' and rang and asked. For sure! Let me know when you're back in Oz and we'll catch up.

I picked up a house in North Perth today. $595k on a 460sqm block with a 3 x 1 house which is basically a 4 x 2. Good things about the deal: - block is R60. So I can build 322 sqm of apartments on it. (4 x 3 bedrooms perhaps) (zoning not mentioned in ad) - has a rear laneway for easy...

Simple due diligence - does the rental yield suck? Yes? Walk on It doesn't mean that the price is over priced, it means that the type of house or area has poor yields. Some places do, doesn't mean that they are overpriced.