Thanks for the kind words everyone.
After i put in my original post I went to bed and couldn't sleep, thought i would get canned for big-noting myself especially when it said 50+ and I don't have that many. Was kicking myself for writing it especially as a new member on the forum. So thanks to everyone who has offered encouragement and support. Helped my SANF ( couldn't work out what that meant on other threads at first didn't know what people were talking about
!
Portfolio is heavily negatively geared at the moment, most early purchases are cashflow positive now by a big way but many more recent purchases especially blue chip Melbourne are basically land value, Black rock for example was bought for $860k gets $400pw. It is a corner block that two and with a stretch 3 townhouses could go on, it was valued by the bank first week of March at $1.25m so if i borrow other $50k to hold it for for the next two years it is still a pretty good result.
I don't develop but I have often bought sites that can be developed as the CG can be enormous when the developers are back in the game. I have also noticed when I have been hotspotting in towns like Mackay (2004) and Townsville (2005) you could buy development sites with no premium to normal houses. When population is booming all the builders are fully booked building new estates 5-10ks from CBD and you can buy 1-2ks out a big block with a period home and eventually those blocks have a huge premium on them, have a few good examples of this.
As i said earlier I kind of made up my theory on the run so made some mistakes but the only ones i really regret are the ones i didn't buy.
Cheers