i'm always happy to learn from people who can regularly outperform the herd, be it in the financial markets or in the property game. Its only the most jealous of people, most of them very mediocre, who seek to cut down tall poppies. That's not me - I have nothing but respect for people who are successful. Provided, that is, they are honest and haven't harmed others.
To the poppy loppers on this thread, sleep well with the knowledge that I'm not holding a loaded gun to anyone's head and forcing them to buy into Australia's cheapest beachside suburb.
I sense just the slightest whiff of sour grapes from the "I loathe Frankston" brigade. Sadly for you, Frankston North, resplendent in all its working class squalor, has outperformed most of Melbourne during the last very difficult quarter. The indisputable fact is this: dumpy old Frankston North rose to an all time high when the rest of Melbourne took a caning. The "I loathe Frankston" brigade must find it especially galling that Frankston remains affordable and, based on my projections, set to become cash flow positive within three years (if you get in cheaply enough and take care not to over-pay for your IP).
Personally, I'm in it for the money. I never invest for prestige or status. I'm comfortable buying the cheapest rentable homes in mispriced suburbs. My plan is to be cash flow positive within 3 years of each acquisition. I'm satisfied with my progress thus far, even in this sickly market. Without revealing too many details, Frankston and North Frankston have been kind to me.
People often ridicule me for investing in a working class suburb. I keep an open mind. If you hate, loate, despise Frankston and have regularly outperformed the market elsewhere, I'd love to learn from you.
Token, you are known on SS for your austere and cautious remarks. We'd love to know how your own portfolio is doing so we can follow your lead. In the past, others have challenged you to 'fess up but you've always failed to respond. Please tell us what YOU are doing with your money? And if you are mostly in cash and fearful of a market slump, why then are you posting on a property forum? Like Don Quixote, are you trying to protect us from the windmills? If so, that is a laudable and selfless act on your part.
frankston is the most talked about suburb on the forums,
Incorrect. Frankston is reviled as an investment destination. I'm getting in because I'm a contrarian. People hate Frankston. That's fine by me, it helps me get cheaper deals. Keep on bashing the place for all I care.