Same here Geoff, returns on original purchase price is excellent.
I had my stable of rental properties in Melbourne, which we grew very gradually, paying off each one as went. So we always owned them.
I was then very fortunate in getting in to the Cairns market when it was very low and buying quite a few properties to simply hold and resell when they doubled in value. Although I had to pay CGT I came out miles ahead, paid off the mortgagtes on those properties and ended up with totally owned properties and cash in the bank.
My original stable would always have given me a decent rental income but the purchase and sale of the Cairns properties was the icing on the cake really. So I have been able to renovate and upgrade the Melbourne properties, in between travelling
Chris